So you’re planning an epic six-month trip abroad? That’s amazing! A long international trip allows you to really immerse yourself in new cultures and have life-changing experiences.
But before you pack your bags, it’s important to think about travel insurance. Getting insured can protect you financially if you encounter medical emergencies, flight cancellations, lost baggage, and other issues.
When traveling for an extended period, comprehensive travel insurance is a must. But how much should you need to pay for Travel Insurance? And what factors determine the cost? Let’s see in this blog.
What is Travel Insurance?
First, a quick primer on travel insurance. This type of insurance provides financial protection against unexpected problems that can occur before or during your trip.
Travel insurance typically includes coverage such as,
- Trip cancellation – Reimburses prepaid, non-refundable costs if you need to cancel for covered reasons
- Emergency medical – Covers treatment costs if you get sick or injured on your trip
- Emergency evacuation – Pays to transport you to adequate medical facilities in a medical emergency
- Baggage loss or damage
- Travel delays
- 24/7 travel assistance services
For long trips, look for comprehensive plans that offer higher coverage limits and more included benefits.
Typical Cost of 6-Month Travel Insurance
The exact cost of your six-month travel insurance policy will depend on your personal details and trip details. But on average, a 6-month trip insurance plan costs:
Asia Pacific Region
Individual – Rs. 3,940 minimum
Student – Rs. 3,029 minimum
Family – Rs. 7,881 minimum
Senior – Rs. 22,271 minimum
USA/Canada Region
Individual – Rs. 8,994 minimum
Student – Rs. 6,376 minimum
Family – Rs. 26,982 minimum
Senior – Rs. 44,958 minimum
Europe/UK Region
Individual – Rs. 6,089 minimum
Student – Rs. 3,029 minimum
Family – Rs. 18,267 minimum
Senior – Rs. 27,987 minimum
So as you can see, costs vary significantly by traveler type. Factors like your age, health, destination region, and policy benefits impact pricing as well.
A six-month backpacking trip will require a different type of policy than a six-month business assignment or study abroad program.
Below we’ll explore what goes into calculating your six-month travel insurance premium.
Read More-Why Travel Insurance is a Must-Have for Your Abroad Adventures?
Factors That Determine Cost
Several key factors affect how much you’ll pay for six-month travel insurance coverage:
- Destination Region
Your destination region has a big influence. Travel to Europe/UK or Asia Pacific regions generally costs less to insure than trips to the USA/Canada.
Medical and travel costs are typically higher in the USA and Canada. So higher benefit limits are recommended, which raises premium prices.
European country destinations are viewed as lower risk by insurance providers. So they offer lower premiums to travelers headed to these regions.
- Age & Health
Your age and health are major pricing factors. Insurance rates go up incrementally as you get older.
Pre-existing medical conditions also bump up the cost of coverage. Especially for longer trips, where recurring treatment and medication are required.
So younger, healthier travelers get the best premium rates for long-term trip insurance.
- Trip Duration
The longer your journey, the more risk the insurance company takes on. So naturally, a 6-month policy costs more than insurance for a quick 1 or 2-week getaway.
Most standard trip insurance plans only cover journeys up to 30 days. For six-month coverage, you’ll need to purchase special extended travel insurance.
The longer period of coverage means higher potential claim costs for the insurer. And your premium has to cover this increased risk.
- Coverage Levels
The amount of coverage directly impacts your premium amount. Plans with higher benefits maximums, lower deductibles, and more inclusive features cost more.
Consider how much trip cancellation or emergency medical coverage you might need for 6 months abroad. This will determine what coverage levels suit your trip best.
You can control costs by customizing your benefit amounts instead of simply selecting the highest coverage tiers.
- Activities
Got lots of adventures planned? Certain activities like mountain climbing, scuba diving, and bungee jumping may require additional dangerous sports coverage.
Insurance providers classify these types of sports/activities as high-risk. So your six-month policy may exclude them unless you pay an additional premium.
Be sure your travel activities will be covered under your standard plan before purchasing. Getting add-on coverages can increase your overall insurance costs.
- Final Word on Cost
As you can see, the price tag for your six-month travel insurance really comes down to the details of your specific trip and individual needs.
From backpacking Southeast Asia to studying abroad in Europe to a family relocation overseas, insurance costs can cover a wide range.
The region you’re traveling to, your age and health status, trip activities, and selected coverage options all contribute to the final premium amount.
But don’t let sticker shock deter you from getting adequate protection. Travel insurance is designed to shelter you from the worst-case scenarios. Like needing an emergency helicopter airlift!
For extended international trips, travel insurance gives essential peace of mind. And that sort of financial security and assistance is priceless!