How to Buy the Cheapest Travel Insurances - 2020 Review
Travelers will naturally wish to find the cheapest travel insurances prior to their vacation or trip.
Let’s look at the elements that should be considered by a value-conscious traveler.
Cheapest Travel Insurances - A.M. Best
We care about A.M. Best ratings because these give us the clearest indication as to whether the underwriting insurance carrier can meet its financial obligations to you, the customer. There is little point in taking trip insurance from a carrier who is financially weak. Too much risk to you, the traveler. At AardvarkCompare we publish the A.M. Best ratings for each of our carriers.
Within every quote there is a rating – and in our case, every insurer we work with has an A.M. Best rating of at least A, which equals ‘Excellent’.
This means that AardvarkCompare insurance carriers have very strong balance sheets, operating performances and business profiles – not only when viewed as stand-alone entities, but also when compared with other insurance carriers. In other words, there is no point finding the cheapest travel insurance if the insurance carrier is vulnerable. That is not going to be helpful.
Cheapest Travel Insurances - Cover
Where many inexperienced travelers get caught out is when they purchase a policy with inadequate cover. Only when it comes time to make a claim does the customer realize that they have been sold a policy that simply did not cover their realistic needs. Every insurance plan will have slightly different levels of cover. In order to find one of the cheapest travel insurances, it is important to compare like for like. The cover is not good value if it does not offer strong benefits.
Expedia, for example, only offers one trip insurance on its site. So, it is impossible for a traveler to compare, which means that a customer would not know if it is cheap or crazy-expensive. We have compared the Expedia travel insurance with the plans that we offer from our Travel Insurance Carriers. Expedia is one of the worst trip insurances that we have seen. The Expedia trip insurance is both expensive, and also has very low levels of cover. Really, the very worst of both worlds.
Cheapest Travel Insurances - Price
Only now should we look at the price of a plan in order to assess if it really is one of the cheapest travel insurances. At AardvarkCompare, we list our plans least-expensive first – we will not try to show you something that you do not need. Broadly speaking, plans become more expensive when Cancellation options are improved – moving from basic Cancellation, to Cancel for Work Reasons, to Cancel for Any Reason. Equally, increased medical benefits will have a direct increase on the costs of a flight or trip insurance.
Cheapest Travel Insurances - What else?
Well, older travelers are more expensive to insure than younger. The more expensive your trip, the more expensive your trip insurance will be. Duration matters – a longer trip is more expensive to insure than a shorter trip – there is a greater probability that you will end up with a medical visit if the trip is three months versus a trip that is only a day. Destination – some places are more prone to claims than others. Equally, some locations are more expensive to cover medical bills (the USA is the most expensive of all countries, for instance). This impacts the cost of travel insurance.
Cheapest Travel Insurances - Advice
Our simple advice for finding one of the cheapest travel insurances – always use a travel insurance marketplace like AardvarkCompare. You will now be comparing insurance plans from the leading travel insurance carriers in the country. You can see their financial stability via their A.M. Best ratings. You can compare cover. More importantly, you can check and compare price. Each of the national travel insurance carriers will price differently – you get to compare and choose the one that offers best value for you.
At AardvarkCompare we suggest that when you travel you should consider travel insurance. You can get an anonymous quote in seconds, and compare dozens of the top travel plans from many of the largest US travel insurers, saving you time and money finding the right travel plan for your needs.
What many people do not know is that they won’t find the same flight insurance plans available at a better price. Price certainty is guaranteed as a result of anti-discriminatory insurance law in the US.
Travel Insurance Comparison – Will I Pay More Buying Travel Insurance from a Comparison Website?
In short – a trip insurance quote for an insurance plan that you see from AardvarkCompare is the same price you would see from the insurance carrier direct. We are not allowed to compete on price for ‘filed’ insurance products. No one is. You are certain to get best value from us.