Should You Buy The Cheapest Travel Insurance?

You have many choices when you buy travel insurance … so why not just buy the cheapest travel insurance plan out there?

Actually, there are some very good reasons why you shouldn’t shop for travel insurance solely on price. Read the list below or jump right to comparing our travel insurance plans to see which fits your trip best.

Read more about how we come up with the price of a travel insurance quote

Why You Shouldn’t Just Buy the Cheapest Travel Insurance

1. You get what you pay for

The components of travel insurance are fairly straight-forward, no matter which plan you buy. A plan may mix up a few things – adding Baggage coverage and removing Medical, for instance – but it’s still made up of a few components chosen from a limited menu.

If you see a cheap travel insurance plan, it’s not “on sale.” Due to regulations, companies can’t give discounts on travel insurance plans. It’s almost assuredly a plan with limited benefits – it  doesn’t cover a lot of things, it has limited coverage for the things it covers, or both.

There’s a place for plans like those, if you’re going on an inexpensive trip without a lot of prepaid costs, or you’re on a limited budget. However, for just a bit more money you can buy a more full-featured plan, like Generali’s Standard plan, which includes Medical coverage, Emergency Assistance and Transportation, and more.

A cheap plan usually equals limited benefits. You get what you pay for.

Also read: How Much Does Travel Insurance Cost?

2. A cheap plan may not align with your trip

The amount of your prepaid trip costs can affect the cost of your travel insurance. It makes sense; if travel insurance is going to pay you back for a canceled or interrupted trip, it ought to be priced based in part on how much that trip costs.

If you have a trip with a lot of prepaid costs and you cover it with the cheapest plan you can find, chances are that plan won’t fully cover all of your costs if you have to cancel or interrupt your trip.

More expensive trips with a lot of prepaid costs – airfare, hotel reservations, perhaps a cruise – are more thoroughly covered with something like Generali’s Premium or Preferred plans. They have higher limits for baggage and medical expenses and cover more expenses if you have to interrupt your trip and return home.

Also read: Travel Insurance Comparison: How to Choose the Right Plan

3. Medical coverage

Anything that forces you to cancel or interrupt a trip is bad news, but a medical emergency may be the most catastrophic event of all.

If you have a medical emergency while you’re traveling, a cheap insurance plan may cover only a small part of your medical expenses – or it may not cover your medical expenses at all.

For travelers with medical fears or a long medical history, or travelers heading to places where medical services may be hard to come by or expensive, a plan with great international Medical coverage – like Generali’s Preferred plan – is worth the extra money.

Also read: Why You Might Need to Buy Medical Coverage Before You Travel

4. Customer service

Travel insurance should be there with help when you need it. Cheap travel insurance plans don’t always deliver the level of service required by travelers in need.

Don’t believe us? Just check the message boards and the reviews of low-cost plans. Then compare them to our reviews.

Choosing a reputable company like Generali means that trained personnel with experience in travel emergencies are available when you need them. Our 24/7 Travel Assistance number means help is always just one call away.

Some things are okay to shop for based on price. Travel insurance is generally not one of them.


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