Why Don't Travel Insurance Carriers Offer Customized Insurance?
Why Don't Travel Insurance Carriers Offer Customized Insurance?
We are often asked by customers why it is not possible to have a specific plan created just for them. If I am not traveling with baggage, do I have to have baggage cover, for example? Or, I want to buy a policy that covers Extreme Sports, but do not ever intend to go parachuting - can I have that excluded, and pay less?
This is very difficult, unfortunately
Every policy that you see available has to be filed with each of the states. So, here in the USA, that is 50 different filings, plus another for DC and one more for Puerto Rico. Within each filing are the various risk tables associated with the way in which an insurer calculates a premium - age, trip length, location, coverage levels, trip cost etc.
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Some travel insurers will have add-ons, such as Extreme Sports. This involves pooling the risk of a group of Extreme-Sport people, and sharing the costs associated with probable claims among the group.
Every modification of a risk involves more calculations, more filings, for smaller and smaller groups. This is not a happy place for insurers, as they are reliant upon the laws of large numbers to help them spread risk. Insurers like large groups of similar people doing similar things. Insurers do not like small groups of insureds as they cannot adequately spread risk.
Some good news, though. When you are shopping around at a site like AARDY, you are getting the best possible price. Our prices are the same as the insurers themselves, so you will save a lot of time in your search.
Safe travels!
This article has been written for review purposes only and does not suggest sponsorship or endorsement of AARDY by the trademark owner.
Recent AARDY Travel Insurance Customer Reviews
Linda Alexander
I had the pleasure of speaking with…
I had the pleasure of speaking with Sheniesha R. Once I told her about my trip and what coverage I was looking for. She began working on what she felt was the best plan and company for me. I was quite impressed. The tour company that I was working with had given me a price as well. To my surprise she was able to recommend a company that gave me more coverage at a much lower price. I felt she was very knowledgeable and professional.
Alexander
Quick, easy and accurate service.
AARDY's web site made the selection of coverage easy. Their initial screening reduced the number of companies and plans from which we had to choose. We are active travelers and have been using AARDY for the past four years and have found them to be reliable and thorough.