Weekly travel insurance rates: November 15 | Premiums drop again

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

The average cost of travel insurance has decreased over the past week, according to travel agency Squaremouth. The average premium is currently $263.85, down from $266.76 last week. Keep in mind that where you’re traveling and how many people are taking the trip will affect your exact rate.

Travel insurance weekly rates at a glance:

Average premium: $263.85

Average trip cost: $5,865.37

Average trip length: 16 days

Some countries are naturally more expensive travel destinations due to higher flight and lodging costs, which could ultimately increase your travel insurance costs. But when controlled for cost, the destination doesn’t change how much you’ll spend to insure your trip.

Here’s how the prices stack up:

Source: SquareMouth

When people are buying travel insurance

According to an AAA travel survey, 88% of travelers say that reimbursement after a trip cancellation is the most valuable benefit of trip insurance.

According to data gathered by SquareMouth in the last six months, travelers tend to purchase cancellation travel insurance 53 days before their trip. Meanwhile, travelers without cancellation insurance will purchase a policy approximately 16 days before their trip.

Source: SquareMouth

Average cost of travel insurance by age

A traveler’s age is a significant factor in determining the cost of travel insurance. The older a traveler is, the more cost is associated with the trip. For instance, a senior traveler may need more insurance for health-related emergencies than a millennial.

When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency.

Source: SquareMouth

Insider’s Featured Travel Insurance Companies

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Editor’s Rating

4.5/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s Rating

4.7/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s Rating

4.45/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

What does travel insurance cover?

Travel insurance can help reimburse you for non-refundable parts of your trip or help you if you’re injured or face an emergency.

Travel insurance policies cover six main things:

  • Trip cancellation or interruption
  • trip delays
  • Medical costs while traveling
  • Baggage damage, delays, or loss
  • emergency transportation
  • Rental car damage

If you have a credit card, you may already have access to some of these coverages without purchasing a separate travel insurance policy. Many airline credit cards or travel credit cards offer trip cancellation, delay coverage, and baggage coverage. For example, the Chase Sapphire Reserve and Chase Sapphire Preferred cards both come with some travel coverage, including trip cancellation, interruption, and delay coverage, baggage delays, rental cars, accidental death, and dismemberment coverage.

Before getting a travel insurance policy, it’s essential to make sure that the terms match your needs or concerns. During the COVID-19 pandemic, that’s especially important — each travel insurance company has unique reimbursement rules and cancellation rules due to this event. Read the fine print of any travel insurance policy before purchasing.

#Weekly #travel #insurance #rates #November #Premiums #drop

Leave a Comment

Your email address will not be published.