When purchasing travel insurance, have you ever asked, “What should I include in my insured trip cost?”

Especially for first-time buyers, this can be a common question.

Trip cost includes all pre-paid, non-refundable expenses for travel arrangements.

You should insure the trip cost according to how it is listed on the travel invoice. If the invoice/receipt for the travel booking is listed as a lump sum for an entire group, your clients should evenly divide the charges between them to calculate the per-person trip cost.

Here’s an example:

• Say a family of four is traveling together.
• Their total trip cost, including airfare, is $10,000.
• According to the itemized invoice, the two adults’ trip costs are $3,000 each, and the two children’s trip costs are $2,000 each.
• When purchasing travel insurance, these travelers should insure each adult at $3,000 trip cost and each child at $2,000 trip cost.

If you used points to pay for flights, some of our plans automatically include a Frequent Traveler Benefit to reimburse up to the benefit limit for re-depositing the frequent traveler awards utilized for the trip. If this benefit is not included in the plan, you may include the re-deposit fee in your trip cost insured under the policy.

Thanks for this explanation, it's super helpful! Will keep this in mind for the next time I purchase travel insurance.
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