The research involved surveying numerous travel insurance providers and devising a scoring system to assess each company based on factors such as cost, plan availability, coverage details, coverage times and amounts, company service, and reviews. To establish a benchmark for average travel insurance cost, quotes were gathered for various traveler profiles, including different age groups and destination countries like Mexico, the United Kingdom, France, Greece, Spain, and more. The affordability of travel insurance was gauged by comparing the costs of various providers against an average cost of $221.
In addition to cost, the availability of diverse travel insurance plans, customizable policies with coverage upgrades, and a wide range of additional coverage options were considered. A comprehensive evaluation of the baseline coverage in the cheapest comprehensive plan was undertaken, with points awarded for factors such as baggage delay and loss, COVID-19 coverage, emergency evacuation, medical coverage, trip delay and cancellation coverage, and more.
The coverage times and amounts were also scrutinized by comparing waiting periods and maximum reimbursement amounts for baggage, travel, and weather delays. Companies offering faster reimbursement within less than 12 hours and covering more than 100% of trip costs in case of cancellations or interruptions received higher scores.
The quality and service of the companies were assessed based on indicators such as a global resource network, 24/7 emergency hotline, mobile app, multiple claim filing options, and concierge services. Reputation was evaluated by examining consumer reviews, third-party financial strength, and customer experience ratings from organizations like AM Best and the Better Business Bureau (BBB).
For a detailed explanation of the research methodology, readers are encouraged to consult the full travel insurance methodology. The research aims to provide a valuable resource for travelers seeking reliable, comprehensive, and affordable travel insurance.
