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DianneCS
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We have been traveling a lot and thought we should investigate different types of travel insurance.  We have been using Travel Guard through Costco and the cost is around 1% of the trip.  We know there are annual policies you can buy but they don't have the same coverage.  

 

Does anyone have any ideas of where to start on this research project.

 

Thanks.

 

Dianne

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18 hours ago, DianneCS said:

We have been traveling a lot and thought we should investigate different types of travel insurance.  We have been using Travel Guard through Costco and the cost is around 1% of the trip.  We know there are annual policies you can buy but they don't have the same coverage.  

 

Does anyone have any ideas of where to start on this research project.

The other posters have given you good advice.  Tripinsurancestore.com (i.e Steve Dasseos' company) is another good one.  While their website is not as modern and fancy as some of the others, the information is great and the people are great to talk with on the phone.  If you don't need something immediately, I would browse this and the special forum mentioned by @TheOldBear, then look at the one of the insurance websites mentioned here.  Finally call and talk to someone at one of the companies. Everyone has different needs so there is no one size fits all.

 

A couple of things to consider:

  • From what I recall, the Costco/Travel Guard policy is decent, but medical is limited to $50K and it pays secondary.  This may be fine depending on where you are going, your health and what medical coverage you have at home. As you do your research, make sure you understand these items.
  • Make sure you understand pre-existing conditions clauses and waivers for any policy you consider.  This could apply to you and non-travelling family members.  They may apply to medical coverage, cancellation coverage and other coverage. The rules are not standard among all policies.
  • Covered reasons for cancellation also vary among policies. Some policies also offer Cancellation For Any Reason options, but they cost more and they typically pay less (75 - 90%) if you cancel for a non covered reason.
  • I don't know how you find coverage in the USA for 1% of trip costs.  For a given policy, it is all age dependent.  If you are both in your 20s, it is hard to find a policy like this for less than 3%. In your early 60s it will be at least double that and in your mid 70s figure about 10% of trip cvost. If you are getting something for 1%, can you share your age(s) and perhaps a link to the policy.
  • Annual comprehensive policies can work in the right circumstances, but they often have limitations that do not work for everyone. If I remember correctly, the two companies that I have looked at in the past (Allianz and RoamRight) max out at $15K and 10K of annual cancellation/interruption coverage.  Annual medical is limited to $50K and $25K.  
  • If all you care about is Medical & Evacuation, there are some good annual plans.  Be sure to look at GeoBlue Trekker.  You need to have a regular health insurance plan, but they pay primary.  Cost is reasonable for up to $250K medical coverage.  Once you reach 70 years, coverage drops to $100K.  
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21 minutes ago, DianneCS said:

FYI the costco med limit is 50k but evacuation is 1 mil.

Yes.  Evac coverage is usually more than adequate on most policies including Costco's.  Medical coverage on many policies are not always be enough.  Most decent third party single trip plans offer at least $50K, but $100K might be better for little additional premium.  I know this does not pertain to you, but policies sold by most cruise lines are often only $10K - $20K.  Great for something minor, but probably woefully inadequate for something remotely serious.  Unfortunately, most people who buy these policies have no idea until it is time to submit a claim.

 

Here us a link from a topic on the special forum referred to in post 2.  @iamtrustworthy is Steve Dasseos' screen name.

 

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