A 65-year-old traveler taking a one-week, $2,000 cruise to the Caribbean can pay as little as $90 or as much as $375 to buy travel insurance before a trip. That’s a 400% difference, meaning it pays to comparison shop.
That stat is courtesy of John Cook of QuoteWright.com, a web site that offers comparisons of travel insurance offerings from major companies. You type in what kind of coverage you want, and QuoteWright will point you to as many as 90 appropriate plans.
But here’s where it gets tricky. Travel insurance companies have a lot of flavors of offerings. Some exclude situations that might be important to you. Some might include medical evacuation to the nearest hospital while others will fly you to the hospital of your choice. Some lists of “perils” include eventualities others might not.
With big spreads in the cost of policies, shop carefully. And be sure to buy soon after you book your travel. Some companies won’t cover you if you wait to buy until just before your departure.