Does the cost of travel insurance change based on the time of year I travel?

Cuba in the winter, New York in the summer, Greece in the fall, or Spain in the spring?

There is always somewhere to go, but does the cost of your travel insurance change based on the time of year you decide to travel?

Doctor visits tend to get expensive outside of the country and some costs are not covered by basic insurance. Plus, the weather here is infamous for delaying flights and baggage notoriously “goes missing” at the worst times!

Travel insurance covers some important things you should be considering before you depart for your destination. For a little extra, you can get coverage for any medical costs, extended medical bills, trip cancellations/interruptions, or baggage losses depending on which package you select.

To read more about what these categories mean, check out our page on the 4 things travel insurance could cover.

What affects the cost of travel insurance in the first place?

Travel insurance is a small expense when it comes to booking a vacation package, and it can be priceless if anything goes awry while you’re abroad.

The most important thing that can affect the cost of your travel insurance is your health, which is measured by your age, medical status, and any pre-existing conditions you may be travelling with.

There are also special medical travel insurance policies tailored to older travellers. Do you identify as a snowbird, by any chance? Some companies have custom “snowbird” travel insurance plans that will have all your needs covered so you can enjoy your vacation without worry.  

The next element that affects your travel insurance cost is the type of policy you choose.

If you’re only concerned about singular issues such as medical, baggage loss or trip cancellation, you have the option of getting coverage for those specific worries. Selecting an all-inclusive policy will include the lot and therefore cost more.

Finally, your insurer will factor in whether you are travelling domestically or internationally. Domestic travel has less of a risk than international and will be cheaper to insure. Also, with longer lengths of leave, you can expect to pay more for coverage.

Insurance is all about risk, people!

What doesn't?

Didn’t see “time of year” above did you? That’s right! Insurance providers do not factor in the time of year you decide to take a hike. Evidently, insurers do not feel the time of year presents any gigantic risk factor.

Be aware that any travel advisories may affect your coverage, so stay in touch with your insurer in the event that any cautions get raised before you jet off.

The only seasonal things insurers may put a price on are special protections for activities like extreme sports that require a particular climate. Mountain climbing, skydiving, skiing, surfing, scuba diving, etc. pose particular risks to the participant. You will not be covered if you fail to disclose your intentions abroad.

It’s best to let your insurer know if you’re planning on any unconventional (read: fun) adventures! You are going to want coverage during an unpredictable event, which I might add, could happen at any time of the year.