When Katie Kubitskey made plans to attend a friend’s destination wedding in Izmir, Turkey, last summer, she never imagined she’d need travel insurance. “Why travel insurance can save the day”
We’ve already reviewed who needs travel insurance and where to find it, but how do you know if you’re getting a good deal?
There’s no authoritative buyer’s guide that can tell you if you’re looking at a bargain policy or a rip-off. That’s because no two travel insurance policies are exactly the same. They vary based on your age, state of residence and coverage.
Travel insurance typically costs between 4 and 8 percent of your trip’s prepaid non-refundable cost. However, a “cancel for any reason” policy can run you 10 percent of the nonrefundable cost or slightly higher. Your policy may be more expensive if you’re older or engaging in a risky activity that makes a claim more likely, but generally speaking, you should be in that range.
“When should I buy travel insurance and how much should I pay for it?”