Seniors Travel Insurance
Everything You Need to Know About Travel Insurance for Seniors
Everything You Need to Know About Travel Insurance for Seniors
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If you’re planning a domestic or international trip, you’ll want to consider purchasing travel insurance. As a precaution, travel insurance can cover unexpected trip delays, baggage loss, or more serious and costly issues such as emergency medical care or being airlifted after an injury. You can fully enjoy your trip knowing you’ll be covered should any emergency arise!
In this guide, we’ll go over the basics of travel insurance, including pricing, coverage recommendations, and our favorite providers.
It’s a good idea to get travel insurance for unexpected situations that may arise during your travels. Instead of having to pay significant out-of-pocket costs for an emergency medical procedure or losing your personal belongings, you can get travel insurance, which can help reimburse you for certain costs and offer peace of mind. Seniors who are at higher risk for health issues should consider adding travel insurance, as well as those who plan to travel for a longer duration or internationally.
FYI: Since we’re on the topic of insurance, head to our insurance guide to learn about other types of coverage you might need.
Most travel insurance plans offer standard coverages such as trip cancellation, trip interruption, baggage delays, and emergency medical transportation, along with optional add-ons like accidental death and dismemberment and car rental insurance. It’s important for older adults with health concerns to consider purchasing a travel insurance policy with high medical insurance coverage or medical evacuation assistance.
Fun Fact: The global travel insurance market is estimated to reach $119.31 billion by 2030.1
We’ll go over some of the main types of coverage we recommend for seniors below. Keep in mind that some coverages may already be included in your policy based on the travel insurance plan you choose.
Did You Know? In most cases, Medicare coverage outside the United States is fairly limited. So, if you are traveling abroad, you may want to consider getting travel insurance.
On average, you should set aside roughly 4 to 12 percent of the total cost of your trip for travel insurance costs.2 The cost of travel insurance also varies depending on a number of factors:
Did You Know? If you’re traveling and looking for air, bus, and rail discounts, check out our list of senior discounts to help you save on your next trip!
To save on travel insurance, we recommend the following tips:
When it comes to travel insurance, it’s best to be an early bird! We recommend purchasing your plan at least one month in advance, though some insurance providers recommend purchasing it no later than 15 days before your trip. This should give you ample time to research and select your policy. You can still purchase a travel insurance policy closer to the start of your trip; however, it will likely cost more, so we recommend purchasing further in advance if possible.
Allied Market Research. (2022). Travel Insurance Market by Coverage Type.
Generali Global Assistance. (2022). How Much Does Travel Insurance Cost?