Saving Money on Travel Insurance

By Squaremouth, Special for  USDR

Travel insurance is meant to protect you from financial distress, not send you into it. The travel insurance experts at Squaremouth share four tips on how to avoid overspending the next time you buy a travel insurance  policy.

DON’T: Insure More Than  Necessary
Travel insurance is intended to cover the money you will lose if you cancel your trip. Generally, you only need to insure your prepaid and non-refundable expenses. If that amount increases after you buy a policy, you can call your provider and increase your insured trip  cost.

“If you can cancel all your hotels for just a small penalty, insure the cost of the penalty rather than the full amount of the hotels,” said Squaremouth Product Manager Adam Rusin. “A lower trip cost generally means a lower premium, and you’re still covered for the amount you would lose if you  canceled.”

DO: Compare Your  Options
Travel insurance policies are not “one size fits all.” Take a few minutes to research your choices using a travel insurance comparison site like Squaremouth, and determine what coverage you need. Call and speak to an agent if you aren’t  sure.

“We get a lot of calls from travelers looking for advice, or trying to understand and compare the coverage they’re being offered by their cruise or tour operator,” said Squaremouth Customer Service Director Jessica Harvey. “Customers are often surprised to see so many other options that offer the same or better benefits at a lower  price.”

DON’T: Upgrade to Cancel For Any  Reason
While the Cancel For Any Reason upgrade offers greater flexibility to cancel your trip, it can increase the cost of a policy by as much as 40%, and it only reimburses a portion of your trip cost. There’s no reason to pay more if your concerns are covered by standard travel  insurance.

“The most common concerns we see are generally covered by standard cancellation policies, such as canceling due to an illness or a family member passing away,” said Squaremouth Quality Assurance Manager Emily Phinney. “We don’t recommend Cancel For Any Reason unless someone has a unique concern that isn’t otherwise  covered.”

DO: Buy the Least Expensive  Policy
A higher price tag doesn’t necessarily mean better service or better benefits. Once you decide what coverage you need, choose the most affordable policy with that  coverage.

“We always recommend purchasing the least expensive policy that meets your needs, as long as it’s with a reputable provider,” said Squaremouth spokesperson Rachael Taft. “Good indicators are a high A.M. Best Rating and some kind of external accountability, like the Zero Complaint Guarantee we have for providers on  Squaremouth.”


Squaremouth compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth’s comparison engine and third-party customer reviews, travelers can research and compare insurance products side-by-side. More information can be found at

SOURCE  Squaremouth

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.