Several points on the checklist must be considered when organizing a trip, such as reserving accommodation, activities, getting boarding passes, etc., and yet, many times, we forget the importance of traveling with travel insurance. This trip covers us in case of a mishap.
The health and tranquility of the traveler are paramount. Although there is this perception of being ‘another expense,’ the reality is that the cost of the policy represents a meager percentage compared to the trip’s total budget. Finding out how much travel insurance costs may seem like a complicated and cumbersome task, but it doesn’t have to be that way because we make it very easy for you at Mondo.
Understanding Travel Insurance Coverages
While traveling, incidents or unforeseen events can occur that are difficult to solve if we do not have the protection of good travel insurance. Travel insurance offers you essential medical coverage so that you can be attended abroad 24 hours a day without paying any money in advance. In addition, it also includes coverage for theft and damage to luggage, delays or last-minute cancellation of the means of transport, repatriation and early return, displacement of a family member or companion in the event of hospitalization or death, and civil liability, and legal assistance.
Depending on each traveler’s needs and the trip type, you can find different travel insurance options, from policies with complete coverage that allow you to customize it to your needs to cheap travel insurance to cover the most basic.
HOW MUCH DOES INTERNATIONAL TRAVEL INSURANCE COST?
Many variables affect the costs of travel insurances. For example, it is not the same to make a three-day getaway to Rome or Paris, to go on vacation to New York for two weeks, or to go backpacking in Thailand for six months. How you see the profile of the traveler, the destination, the duration of the trip, the possible risks, etc., are very different.
We explain below each of the factors that influence the price of travel insurance.
Factors Influencing the Price
To know how much travel insurance costs, we must consider a series of elements or factors that directly impact the calculation. Next, we explain them one by one:
As with the days of accommodation or car rental, the more days of coverage there are in the policy, the higher the price. However, depending on the duration of your trip, it will be more profitable for you to choose one type of travel insurance or another for an occasional short trip (whether for leisure or business). You can choose between alternatives depending on whether you need more or less coverage: Peace of Mind Travel, Top Travel, Travel Premium, and Assistance Only.
If you are a frequent traveler and make more than three trips a year, the best option is the Annual Travel Insurance, which offers coverage for all the trips you make in the next 12 months at a very competitive price. The price per day and insured drops by insuring yourself for a very long time, making this option more profitable.
For long-term trips (+90 days), we recommend the Mondo Larga Estancia, which is initially contracted for 90 days with the possibility of renewing it at your own pace for as long as you want and from anywhere in the world. For this reason, to calculate how much travel insurance costs and take out cheap travel insurance, you must consider what trip (or trips) you will make and its duration. The time factor can save you several euros.
The Number of Insured Travelers
Depending on the number of travelers insured under the same policy, the price will be higher or lower. For example, it is not the same to price travel insurance for a couple (two travelers) as for a group of four people since each corresponds to a percentage of the premium.
In addition, we remind you that at Mondo, we offer you different advantages to find cheap travel insurance, which is why we offer travelers special discounts for traveling families or groups of friends so that you can save up to 15% on the price of your travel insurance.
Travel destination Another vital criterion to consider when calculating how much travel insurance costs is the destination or geographical area to which we will travel.
To make it easier to see, we will give you some examples. Next, we show a table where different rates are shown:
|Destination||7-day travel insurance||15-day travel insurance|
As we have already seen, travel insurance protects you against different unforeseen events that may arise (illness, accident, loss or delayed delivery of Worrying transport delays, and cancellations…) and helps you solve them quickly thanks to its different coverages.
When looking for the travel insurance that best suits your preferences and needs, you should assess the scope and limits that best suit you because the more complete the travel insurance (more coverage and higher limits) you will probably see—reflected in the price.
Therefore, depending on the trip you are going to make, you will be interested in choosing a specific product or coverage. For example, in destinations where healthcare is costly (United States, Japan, Canada, etc.), selecting good medical coverage that includes high medical expenses, such as that offered by Premium travel insurance, is highly recommended.
But suppose what you prioritize the most is the budget, and you want to get cheap travel insurance. In that case, you should know that at Mondo, we offer basic travel insurance called Assistance Only, designed especially for those travelers who only seek to have medical coverage abroad at a reasonable price. Very economical.
Policy extensions (optional):
At Mondo, we allow you to customize the insurance to suit you with optional coverage that you can add to the policy.
In addition to having all the essential coverage that travel insurance offers, you can complement it with other specific ones such as trip cancellation coverage, adventure sports, or electronic equipment.
TRAVEL PEACEFULLY WITH TRAVEL INSURANCE
Right now, one of the biggest fears for any traveler is getting sick while away from home. Mondo’s travel insurance has just what you need to travel without worrying excessively about COVID-19 since they all cover medical assistance in case of contagion by the coronavirus, medical transfer, repatriation in case of positive, test PCR by medical prescription, and the extension of stay in a hotel due to medical quarantine.
In addition, with the Mondo assistance App, you will have a 24-hour medical chat and free emergency calls if you need medical assistance, allowing you to manage any incident easily and quickly.
Now that you know how much travel insurance costs and the factors that affect its price, it will be easier for you to choose the travel insurance that best suits your needs as a traveler.
How Much Does Travel Insurance for Europe Cost?
At AXA, when choosing insurance to travel to Europe, it is important to know how much it will cost to hire a policy that meets all the requirements to obtain the Schengen visa.
In this article, we summarize the different options that AXA offers you and compare the prices of each of them in the table that you can find below.
AXA Schengen Low-Cost
|Trip duration (days)||1 to 8||9 to 16||17 to 24||25 to 31||32 to 45||46 to 62||63 to 90||91 to 105||180|
Travel Europe AXA Schengen
|Trip duration (days)||1 to 8||9 to 16||17 to 24||25 to 31||32 to 45||46 to 62||63 to 90||91 to 105||180|
AXA Schengen multiple trip Annual premia of 298 euros for one year. This premium covers up to 90 days of consecutive travel. You can travel as many times as you want in the Schengen area, so each trip does not exceed 90 consecutive days. For example, Multi Trip coverage can cover 80 days of travel at the beginning of the year, 20 days in the middle of the year, and 30 days at the end of the year.
The prices are independent of the age of the insured or their nationality. They include taxes and all costs. No surprise, the price indicated is the price paid.
The Low-Cost Option
Travelers with a tighter budget have at their disposal an AXA policy that guarantees the basic coverage required by the authorities in the 26 states of the Schengen area for a maximum of 180 days, double the time that can be spent in this territory with a short-term visa.
The peace of mind of knowing that you are protected against any incident is priceless. Still, low-cost or low-cost insurance is: for just €0.99 per day; this rate covers up to €30,000 for expenses arising from any medical care that needs to be received and repatriation in case of accident or death.
In addition, it also provides the corresponding digital certificate at the time of hiring that can be used as proof that you have travel medical insurance during the administrative process to obtain the visa.
Travel Insurance For Europe
AXA also offers other products that fit each traveler’s needs. The Europe-Travel policy covers medical and repatriation expenses for a value of up to 100,000 euros, making it the most suitable option for those who plan to carry out some type of risky activity and assists in the event of hospitalization or death assuming the costs of communication or paperwork. It also protects against the loss of documents or valuables.
People traveling as a family can include those under 18 years of age in this same policy, with which you can also visit countries outside the Schengen area since it is accepted in Bulgaria, Croatia, Cyprus, Ireland, and Romania -countries of the European Union that are not part of this territory- and also in the United Kingdom.
The option for frequent travelers
AXA has perfect insurance for those who visit Europe for work or pleasure several times a year, which offers all the advantages of the Europe-Travel policy for one year, for an annual price of 298 euros.
With this policy, you can make as many trips as you want, knowing you will always be protected. The only condition is that your stays must not exceed 90 days, the maximum time that can be spent in the Schengen area with a short-stay visa. Suppose you pick the Multi-Trip insurance in January. In that case, it will allow you to visit, for example, France for 90 days that same month and spend another 20 days in Germany in June or any other state of this territory before the end of the year, as long as in the case of periods of less than three months.
At AXA, we always do our best to provide accurate and up-to-date information. Still, visa regulations can be changed at any time by the embassy or consulate of the Schengen state you wish to visit. For this reason, we cannot be held responsible for the consequences of such changes. Please contact the consular authorities to find out the terms and conditions for obtaining a Schengen visa that is in force when you apply.
Annual Schengen Travel Insurance for Frequent Travelers
Our Multi-Trip policy is the perfect travel insurance for multiple entry visas and frequent travelers because it offers extensive coverage worth 100,000 euros in the Schengen area, in the countries of the European Union that are not part of this territory, and also in Liechtenstein, San Marino, Andorra, Monaco, and Vatican City.
It also allows you to automatically obtain the travel insurance certificate you need to apply for a Schengen visa.
Our Annual Schengen Travel Insurance:
It guarantees a minimum coverage of 100,000 euros. It protects travelers during their stay in Europe for 90 days (three months) throughout the year. Once this period of time is over, they will have to leave the Schengen area. Their coverage will be reactivated as soon as they return and will last for a full year from the day the policy was purchased.
Accepted in All member countries of the Schengen area:
Germany, Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Netherlands, Poland, Slovenia, Portugal, Czech Republic, Slovak Republic, Sweden, and Switzerland. The countries of the European Union that are not part of the Schengen territory: are Bulgaria, Cyprus, Croatia, Ireland, and Romania.
In addition to San Marino, Andorra, Monaco, and the Vatican City. It takes care of the costs derived from medical emergencies, hospital admissions, and the repatriation process in case of illness* or death** for the entire stay. It offers the possibility of receiving a refund for your travel insurance if your Schengen visa application is ultimately denied (under certain circumstances). To discover more information about the advantages of our Schengen travel insurance, visit the following link: Schengen travel insurance guarantees.
The Comfort of Having Annual Travel Insurance for All Your Visits to Europe
Unlike other AXA plans, Multi-Trip travel insurance protects you for one year, from the moment you enter the Schengen area and for the next 90 days. Have you left this territory? Don’t worry; you will be protected again for another 90 consecutive days as soon as you return. This option offers you important advantages:
Immediate coverage: from the first day of your stay in the Schengen area. No price variations depending on your country of origin. No age restrictions. All travelers can benefit from the benefits of Multi-Trip policy.
THREE FACTORS INFLUENCE TRAVEL INSURANCE: ITS DURATION, DESTINATION, AND COVERAGE.
Organizing a trip has its complexity and is a challenge in itself. We often forget to cross off the list one of the things we should think about very seriously: travel insurance.
No, travel insurance is not just another expense, nor is it money that is thrown away because “nothing is going to happen to us.” Traveling with peace of mind is priceless.
Can you imagine working all year to end up having a hard time far away from home because it never occurred to you that you might fall ill? It happened to us when we were unconscious.
And I can assure you that it has not happened to us again. Since then we travel insured (and that is why we have also written about why you should take out travel insurance).
What do You Need to Cover in a Travel Insurance?
When we travel, incidents or unforeseen events can occur that are difficult to solve if we do not have the protection of good travel insurance. Travel insurance offers you essential medical coverage so you can be tended to abroad 24 hours a day.
And what is more critical: WITHOUT ADVANCED MONEY.
In the basic coverage, you should see that it includes, at a minimum, the following (in bold, the coverages that are most used):
Luggage theft and damage. delays or last minute cancellation of the means of transport. Repatriation and early return. Displacement of a family member or companion in case of hospitalization or death. Civil liability and legal assistance. Depending on the trip and the destination, there are companies that make tailor-made packages (for adventure sports, for example) and others that have different levels of coverage.
How Much Does Travel Insurance Cost?
Travel insurance costs is as varied as the type of trip you want to do. Traveling through Europe has nothing to do with doing it in the United States (where healthcare is essentially private). Going backpacking in Asia is one thing, and quite another to go for a weekend to any European capital, for example.
Factors to take into account in the price of travel insurance
These are the factors that most influence travel insurance:
1. Travel time
It seems logical that the more days of travel, the insurance costs more.
But you have to be careful (and smart) with it. Insurance for 1 week to go to the United States probably costs more than another for 1 month to go to Asia.
If you are (or are) frequent travellers, Mondo has an Annual Travel Insurance that covers 12 months and on top of that it has a very competitive price. We recommend that you do several simulations because you may be in for a (pleasant) surprise.
For long-term trips (from 90 days) we recommend the Mondo Larga Estancia, which is initially contracted for 90 days with the possibility of renewing it at your own pace for as long as you want and from anywhere in the world.
2. One or Several Insured
Depending on the number of travelers insured under the same policy, the price will be higher or lower.
This is obvious: a single person’s insurance will always be cheaper than a couple or a group.
In any case, in case of traveling as a couple or in a group, it will always be much better to put several people under the same policy instead of hiring several individual policies.
3. Travel Destination
Another important criterion to take into account when calculating how much travel insurance costs is the destination or geographical area to which we are going to travel. Safer countries always have lower premiums than countries with more violence or more insecurity. In this sense, traveling through Europe or North America will always be cheaper than traveling anywhere in Africa, for example.
As we have already seen, travel insurance protects you against different unforeseen events that may arise (illness, accident, loss or delayed delivery of luggage, transport delays and cancellations…) and helps you solve them quickly thanks to its different coverages.
When you organize your trip, think about what you want to do during it.
Another factor to take into account are destinations where healthcare is extremely expensive, such as the United States, Japan or Canada. In these types of countries, it is highly recommended to select good medical coverage that includes high medical expenses (all insurers have premium travel insurance).
In Mondo (and almost all insurance companies), insurance extensions can be contracted taking into account two aspects:
Time, being able to extend the coverage period (in case we extend the trip). The coverage, in case we want to carry out a specific sporting activity, for example.
Traveling With Travel Insurance Is Traveling With Peace Of Mind
Statistically, the biggest fear of any traveler is falling ill far from home.
For this reason, after COVID-19, having good medical assistance in the event of contagion by the coronavirus, medical transfer, repatriation in case of a positive result, the PCR test by medical prescription, and the extension of the stay in a hotel due to medical quarantine is essential.
We recommend that you look at the COVID-19 coverage of the insurance you buy.
Travel with peace of mind with your travel insurance!