Adele DiRende a RoamRight Blog Author

Traveling on a budget? You don't have to skimp on travel insurance.

Travelers who choose more economical trip planning options may often look for innovative ways to save money. These may include choosing to camp out instead of stay at hotels every night, packing your own food instead of dining out, or driving instead of flying.

However you choose to save money, you may still want to consider travel insurance. Fortunately, travel insurance does not have to be expensive, and may help save your trip if an emergency occurs.

How much does travel insurance cost?

The price of a purchase can often be the deciding factor for budget travelers. However, with a purchase like travel insurance, it’s important to also pay attention to the benefits of having it, and not just the cost. (We’ll talk more about that in a moment.)

With Arch RoamRight travel insurance, there are several factors that go into calculating the cost of a policy. Those factors are:

  • The length of your trip
  • The age of traveler(s)
  • The cost of the trip, if you want to insure that expense

You can easily get a quote from to see how much a travel insurance policy would cost for any trips you may be planning.

Are there other cost-effective ways to buy travel insurance?

If you travel several times a year, you may be interested in an annual, or multi-trip, travel insurance policy. This type of policy provides coverage for an unlimited number of trips up to the total Trip Cost you provided, in a single year. This means you only have to purchase a policy before your first trip of the year and you will not have to purchase a policy for additional trips taken over the next 365 days.

To see pricing on this type of policy, simply select “Annual” in the “Coverage For” dropdown when you create a quote.

For travel insurance, the benefits may outweigh the cost

If you are still hesitant to purchase even the lowest-price travel insurance policy, consider how it can help you when you are on your trip. Here are a few real-life examples of where travel insurance helped.*

  • A traveler got a parasitic infection while traveling in Mexico. His medical and travel expenses totaled $2,568, but his travel insurance policy only cost $6.10.
  • Another traveler crashed her bike while in Peru, resulting in several broken ribs and a collapsed lung. Her travel insurance policy covered $111,950 in medical care, while her travel insurance policy cost $495.
  • A team of eight volunteers was in Haiti when rioting erupted. They required a security evacuation out of the area, which cost more than $10,000. The total cost of the travel protection plan used by the entire mission group was just over $100.

Travel insurance is something that you may purchase and not need to use. In which case, we’ll be happy that your trip went smoothly as planned. However, if any travel or medical emergencies were to occur while on your trip, you may appreciate having the protection and benefits provided by a travel insurance policy.

Ways to save on travel insurance

Because one factor that determines the price of a travel insurance policy is the cost of your trip, you may be able to save money by opting to not insure the cost of your trip. This can be done by purchasing a medical-only policy. This type of policy does NOT include pre-trip benefits, such as coverage for trip cancellation. So if you have to cancel your trip for an unforeseen reason, you will not be covered for any pre-paid, non-refundable trip expenses.

However, you will still have on-trip coverage, for things such as emergency accident and sickness and emergency medical evacuation, as well as limited coverage for baggage, trip interruption, and others.

Ultimately, the amount of coverage you choose is up to you. You may want to review a full list of what travel insurance may cover, and you should read through the policy before you purchase. Even if you’re traveling on a budget, you may still want to consider the added protection that can be afforded to you through travel insurance.

*Coverage costs vary based on age, trip length, and benefits selected. Based on a true story. Some details have been changed for privacy.

Note: Available plans and coverages may have changed since this blog was published.

About the Author

Adele DiRende

Adele DiRende, a RoamRight Blog Author

Adele DiRende is a Marketing Intern currently pursuing a degree in Mass Communications at Towson University. Although the wallet of a college student is not kind to those with a passion for travel, Adele has experience in international travel to places like Italy and the UK, as well as domestic travel around the U.S. In addition to travel, Adele enjoys photography, music, and creative writing. Connect with her on LinkedIn.

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The RoamRight mark is used by Arch Insurance Company and owned by its parent company, Arch Capital Group (U.S.). Insurance coverages are underwritten by Arch Insurance Company, NAIC #11150, under certain policy series, including LTP 2013 and amendments thereto. Certain terms, conditions, restrictions and exclusions apply and coverages may vary in certain states. In the event of any conflict between your policy terms and coverage descriptions on this website, the terms and conditions of your policy shall govern. Click here for privacy notice.

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