How to Be Travel-Ready: 5 Best Tips to Save On Your Travel Insurance

Photo by soNomad

The well-prepared traveler knows that the sun lounger feels a little more comfortable, the tall cool refreshment tastes that much sweeter and the sound of the waves lapping against the shore sounds even more relaxing when there are no loose ends. Fundamental to that feeling is knowing you’re covered with the best possible travel insurance. Finding that travel insurance often feels like a chore, but it doesn’t have to be.

Three factors typically influence travel insurance premiums: age, medical condition and duration of stay. Here are some tips to save on travel insurance from soNomad, a Canadian-based company that revolutionizes travel insurance with a unique low-cost approach:

Tip 1: Add a Deductible to Your Travel Insurance to Save Money

Just like with car or home insurance, deductibles also exist for travel insurance and, as with those policies, a higher deductible can lead to a reduction in travel insurance premiums. Travel insurance deductibles are available in ranges from $200 to $10,000 and $1,000 deductible on your policy, for example, allows you to save as much as 20% on your premium.

Tip 2: Choose an Annual Multi-Trip Plan

Frequent travelers have another option, as well. The annual, multi-trip plan is a wise financial decision for those who take advantage of it. Instead of purchasing a separate policy for each trip, a multi-trip plan provides coverage for several trips in a single year, leading to substantial savings when compared to purchasing them one by one.

Let’s consider a 66-year-old traveler who takes three trips of 30 days each in a year. Purchasing insurance for each of those trips will see our adventurer pay a premium of $130 for each for a total of $390. By selecting a 30-day multi-trip annual plan, the premium is only $175, representing a savings of $215 or a full 55%. Better yet, multi-trip annual plans can also be “topped up” to add extra days if the trip runs longer.

Tip 3: Don’t Wait Until the Last Minute to Visit Your Doctor Before Departure:

Even the most well-seasoned travelers often aren’t aware that many travel insurance policies mandate a minimum of 3-month stability period for coverage and, consequently, one of the most common mistakes they make is waiting until a month before their trip to visit the doctor. Getting that annual check-up done early, at least three months ahead of your vacation, increases the number of options available. Keep in mind, however, that if there are any changes in the required stability period (including a change of medications), you could jeopardize your eligibility or have to pay for a Reduced Stability Period option.

Photo by soNomad

Tip 4: Embrace Travel Despite Pre-Existing Conditions:

Don’t let pre-existing conditions halt your travel aspirations. While many Canadian travel insurers reject individuals with preconditions, pushing some to travel uninsured and face the prospect of exorbitant hospital costs, there are options and soNomad can offer coverage that caters to travelers with medical pre-conditions. Furthermore, these cost-effective options highlight that traveling with pre-existing conditions is not just feasible but also financially prudent. With a unique underwriting platform, soNomad can cater to
a wider range of special cases than anyone else in the market.

Tip 5: Make Sure to Get Coverage for All Your Activities:

Did you know that activities like scuba diving or skiing, especially for Canadian
snowbirds, can often be exempt from standard policies. In a situation like that, where those activities are not covered, travelers are left responsible for entire hospital bills. By selecting a company like soNomad, one that offers comprehensive coverage for a wide range of active pursuits, can help you avoid unexpected costs. To take one example, coverage for a 7-day ski trip to Jackson Hole can cost as little as $30 for a 65 year-old booking his travel insurance with soNomad. Such a policy ensures both safety and

Bonus Tip: Lock in Your Winter Travel Rates

While all of the previous five tips will save travelers money, the ultimate budget-friendly tip is as simple as acting fast while the rates from last year are still accessible for a limited time at soNomad. There’s no better time than now to lock in significant savings –up to 25% – by securing your rates with just a $25 deposit with soNomad. Understanding that plans can shift unexpectedly, soNomad offers no-cost changes and cancellations with no administrative fees. Furthermore, rest assured that coverage extends to include COVID-19, all without incurring additional charges.

Lock in your rate today and start saving on your travel insurance! Don’t miss out on this opportunity to save. We look forward to helping you save money on your next trip.

Get a quote: Request a call back from soNomad here or call 1-888-815-7472