Can I Buy More Than One Travel Insurance Policy for the Same Trip?
You can never be too cautious when planning a trip. Travel insurance policies are the best way to protect against unforeseen events that could impact your trip and limit out-of-pocket costs. While one comprehensive plan is usually enough, there are times when multiple travel insurance policies make sense.
Am I Allowed More Than One Travel Insurance Policy for a Trip?
Yes, it is possible, and sometimes smart, to purchase multiple travel insurance plans for the same trip. If your existing policy does not offer enough travel insurance coverage for your upcoming vacation, you may purchase additional coverage for greater peace of mind.
This can happen accidentally if a traveler unknowingly purchases an additional policy or intentionally when a traveler feels the insurance benefits offered in an existing policy are insufficient.
If you’re considering purchasing a second travel insurance plan for your trip, there are a few policy terms to remember.
Policies Must Be from Different Travel Insurance Providers
If the insurance coverage available in one policy does not satisfy your needs, you can purchase an additional coverage plan for further protection. However, the different policies must be from separate travel insurance companies with different underwriters.
If you want improved protection from your current provider, you can contact them directly and may be able to make adjustments to your coverage period before you depart. For example, some plans may offer increased coverage for certain benefits…like higher limits for medical expenses, trip cancellation, or cancel for any reason (CFAR) coverage. Depending on your travel plans, some providers may also allow you to add optional upgrades, such as adventure sports coverage or rental car protection.
However, modifications to an existing policy are typically not allowed once your trip has started. Before making any changes, always review your provider’s terms and conditions to understand your options.
Claims May Only Be Paid Out Once
The most important thing to remember when purchasing multiple travel insurance policies is that travelers can’t “double dip.” In other words, purchasing multiple policies for the same trip doesn’t mean travelers can receive multiple payouts for the same insurance claim. If you experience a delay and file a claim under one plan, you legally are not able to file a claim for that delay under your other plan.
Why Would You Travel with Dual Insurance Policies?
You may travel with more than one trip plan for many reasons. Below are the most common scenarios in which purchasing separate policies may be necessary.
To Get More Travel Insurance Coverage for Your Trip
You may purchase additional coverage for your trip if your existing policy doesn’t offer adequate medical coverage or trip cost protection. If this happens, you have three options: try to get a refund from your travel insurance provider, take your trip with insufficient travel insurance coverage, or purchase a separate policy that complements your existing plan.
This scenario typically occurs when you purchase a plan through a travel insurance provider such as a cruise line, airline, or tour operator. While policies sold through these suppliers are often legitimate and convenient, they frequently offer low medical expense limits at high premiums.
If you feel the need to purchase an additional coverage plan, make sure to consider the following:
- Insurance Benefits: Ensure that the policy you are considering fills the coverage period gaps in your plan. Your travel insurance coverage should include benefits such as trip cancellation, travel delay, trip interruption, and baggage loss by the time you travel.
- Coverage Limits: The best travel insurance plans offer high coverage for common travel disruptions. If you’re traveling internationally, ensure you have at least $50,000 in medical expenses coverage and $100,000 in emergency evacuation coverage.
- Premiums: We recommend buying travel insurance only if it fits your budget. To limit your spending on a second policy, focus only on the coverage your existing plan doesn’t provide.
Purchasing Multiple Plans by Accident
Mistakes can happen when planning a trip, from booking flights for the wrong dates to reserving a hotel in Paris, TX, instead of Paris, France. Luckily, traveling with too much travel insurance cover won’t make or break your trip.
Below are a few scenarios that could lead to dual insurance:
- Forgetting You Already Have Coverage: Many travelers purchase travel insurance policies months in advance. There’s always a chance that your purchase slips your mind, and you buy a new policy without realizing you already have existing coverage.
- Covered Under Someone Else’s Plan: Single-trip policies can cover up to 10 travelers. Be sure to communicate with your travel party when buying travel insurance to ensure you don’t duplicate coverage.
- Already Covered by Annual Multi-Trip Travel Insurance: An annual travel insurance plan covers individuals for an entire year starting from the purchase date. However, you may travel a lot and need to build on the medical-only coverage you already have for a specific trip, so you look to purchase a single-trip policy, even if it means there would be some overlapping benefits for the coverage period.
- Have Existing Coverage Through a Credit Card: Many travel credit cards offer substantial insurance benefits. Before buying travel insurance, check whether your credit card already includes travel insurance coverage that meets your needs.
- Other Overlapping Policies: Travelers with life, car, or health insurance should review their coverage to determine whether separate policies are necessary.
If you end up purchasing an insurance cover plan you don’t need, there’s a chance you can “return” the policy and get a complete reimbursement. Every travel insurance policy listed on Squaremouth has a money-back guarantee period. During this time frame, typically 10-14 days, you can cancel your policy and get 100% of your premium back.