A new consumer report from travel insurance comparison site InsureMyTrip finds roughly 75 percent of all their customers prefer a comprehensive travel insurance plan for both domestic and international travel.
This latest consumer data is based on all transactions for travel insurance from InsureMyTrip customers in 2015. This percentage includes insurance purchases for a variety of trips, including cruises, tours, group travel, and long-and-short trips internationally or within the US.
“The data suggests that the majority of travelers are selecting comprehensive plans because they provide broader coverage to protect their needs,” says InsureMyTrip CEO Jim Grace.
What is comprehensive travel insurance?
These plans offer a variety of benefits including trip cancellation, trip interruption, emergency medical coverage, emergency medical evacuation, 24/7 emergency assistance, travel delay and baggage protection. Comprehensive travel insurance plans provide the most protection for travelers.
How much do comprehensive travel insurance plans cost?
Plans typically run 4-8% of total trip cost.
For example, for a $5,000 two-week vacation to Aruba, a comprehensive travel insurance plan will cost a couple in their 50s around $200. This includes a $50,000 medical limit, $250,000 for medical evacuation in addition to trip cancellation coverage and other benefits.
What is another popular plan type?
Travel medical protection plans are the second-most requested type of travel insurance. These plans provide emergency medical coverage, emergency medical evacuation and 24/7 emergency assistance.
If we take the same trip example noted above, a travel medical insurance plan will cost a couple in their 50s around $80. This includes a $50,000 medical limit with a $250 deductible and $500,000 medical evacuation and other benefits. No trip cancellation benefits.
What is the big difference between a travel medical and comprehensive plan?
Trip cancellation is typically not included in a travel medical plan.
Whether it’s comprehensive, travel medical protection or another type of travel insurance plan, consider some form of coverage for peace of mind.