Why are some travel insurance offers much more expensive than others? What is the difference between insurance for your bank card, which is free, and paid private insurance? Is insurance an essential cost when preparing for a trip? We will answer these questions so that you can better understand the price of travel insurance and choose the offer that best meets your needs while respecting your budget:
Price according to age
In general, the younger a person, the less likely they are to have health costs. It is on this premise that insurance contracts determine different rates depending on the age of the insured. So a 23-year-old will certainly not pay the same price as a 60-year-old. It may be interesting to compare the age groups of the different offers in order to select the most advantageous, according to your age.
Price depending on destination
It is known that the flu in the United States will cost much more than in India. Thus, some travel insurance will offer two different rates: one for the whole world and one that excludes destinations where medicine is expensive, such as the United States or Canada. If you plan to travel to these countries, be sure to check the coverage of your insurance contract.
Price according to the country of departure
It may sound strange, but the country of departure can also influence the price of insurance. The explanation for this oddity is actually quite simple: when you subscribe, the country of departure actually means the country to which you wish to be repatriated in the event of serious medical concern or death. This repatriation costs the insurance company more when it is carried out outside Europe, hence a higher rate if you choose a country of departure outside the European continent.
For example, with our Globe Partner contract, if your country of origin is outside the European continent, the premium will be a little higher.
Price according to guarantees
Obviously, this is the main factor that influences the price of travel insurance. The guarantees are what your insurance will cover during your stay abroad and in what amount. It is therefore very important to read the guarantees carefully, either in the general conditions of the contract or in a table of guarantees.
The guarantees of a travel insurance can be multiple, but must always include at least one assumption of responsibility for your medical expenses and hospitalizations, the repatriation and the civil responsibility.
Price according to options
Once you have fully analyzed the benefits, you can move on to the options offered by your travel insurance. These options may increase the final price of your contract, but will also improve your coverage, so it's up to you to judge whether the additional cost of this option is really necessary.
For example, our Globe Partner contract offers an “study interruption” option, which covers your tuition fees abroad in the event that you are no longer able to attend classes. A really interesting option in countries where the cost of schooling is high.
You now have all the information you need to fully understand the price of travel insurance and analyze the offers in order to find the one that best meets your needs , without breaking your budget.
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