Are You Paying Too Much For Travel Insurance?

Have you ever noticed when booking a vacation you're almost always offered the opportunity to buy travel insurance? It doesn't matter if you're buying direct from the airline, or through an travel agent--whether in-person or online--you can easily tack on the price of the travel insurance premium to your trip purchase. It sure is convenient, but is it a good deal?

A quick comparison shows that often you're paying a hefty premium for this convenience.

Travel insurance premiums for an individual travelling alone to the U.S.*

Take a look at the prices quoted for an emergency medical travel insurance policy for a single 40-year old, travelling Friday to Friday (for a total of 8 days):

KANETIX.CA Financial Institution Airline Online Travel Agent
$15.00 $25.06 $36.00 $36.00

Travel insurance premiums for a family of four; 2 adults and 2 children*

If you take a look at family plans, the difference in price is even more pronounced:

KANETIX.CA Financial Institution Airline Online Travel Agent
$24.96 $56.39 $72.00 $144.00

Why the wide range in travel insurance rates?

When you buy coverage at the same time you book your vacation package or flight, you are generally not offered money-saving coverage or deductible options. Instead, you'll be offered a one-size fits all policy often with an unlimited coverage amount.

Through KANETIX, you can opt to buy $1 million, $2 million or even $5 million in emergency medical coverage. Realistically $2 million is likely more than sufficient, but many opt for $5 million. Even so, these higher limits are still often less expensive than purchasing a one-size fits all, unlimited coverage, policy.

In no time, you can shop, compare and save

Why pay more than you have to for your travel insurance coverage? See if you can cut your travel insurance premium in half. Compare and buy travel insurance using the KANETIX.CA travel insurance shopping service today!

Read more about travelling and travel insurance

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*The basic medical plan, and corresponding rate, was pulled from the websites of a major Canadian financial institution, airline, online travel agent, and KANETIX.CA's travel insurance comparison service. In each case, the lowest price is published and is accurate as of June 20, 2013 but are subject to change at any time.


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