hdcnm Posted November 11, 2017 #1 Share Posted November 11, 2017 I was researching insurance for a cruise in March on Insurancemytrip.com. I have always used this site to compare and actually purchase insurance. I have used Travelex before and was getting ready to purchase it again, but for some reason, I went to the Travelex insurance website. The cost of the insurance was $704 for two persons on insuremytrip.com and the exact same policy was $473 on Travelex's website. I called Travelex to confirm that it was the same coverage and policy, the agent did not know why there was a cost difference. I didn't call insurancemytrip.com. I have to assume that the higher price is an error. Link to comment Share on other sites More sharing options...
easyboy Posted November 11, 2017 #2 Share Posted November 11, 2017 Did not imagine that can happen! Thanks for the heads up. Sent from my iPhone using Forums Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted November 12, 2017 #3 Share Posted November 12, 2017 Good to know. I use the web site to compare policies but alway book directly on the site of the insurance company such as TravelexInsurance. Keith Link to comment Share on other sites More sharing options...
Flatbush Flyer Posted November 12, 2017 #4 Share Posted November 12, 2017 I was researching insurance for a cruise in March on Insurancemytrip.com. I have always used this site to compare and actually purchase insurance. I have used Travelex before and was getting ready to purchase it again, but for some reason, I went to the Travelex insurance website. The cost of the insurance was $704 for two persons on insuremytrip.com and the exact same policy was $473 on Travelex's website. I called Travelex to confirm that it was the same coverage and policy, the agent did not know why there was a cost difference. I didn't call insurancemytrip.com. I have to assume that the higher price is an error. Sites like insuremytrip are brokers. Even when a policy like Travelex "Traveler Select" may have the same price at a broker website and the Travelex (or other insurer) website, READ THE FINE PRINT. The broker policy may be a version of the same named policy that has different coverage limits and other specifics, which are usually not as favorable as is with the policy booked directly through the insurer. Sent from my iPhone using Forums Link to comment Share on other sites More sharing options...
hdcnm Posted November 12, 2017 Author #5 Share Posted November 12, 2017 Sites like insuremytrip are brokers. Even when a policy like Travelex "Traveler Select" may have the same price at a broker website and the Travelex (or other insurer) website, READ THE FINE PRINT. The broker policy may be a version of the same named policy that has different coverage limits and other specifics, which are usually not as favorable as is with the policy booked directly through the insurer. Sent from my iPhone using Forums One of the questions I asked Travelex was why there was a difference - the agent said that insuremytrip.com was a third party broker and they didn't have any control or idea of what they charge - A lesson learned !!! I had previously purchased insurance through insuremytrip.com because it was a better price than the insurance offered a through the cruise line. Your point about making sure to read the fine print is well taken!!! Link to comment Share on other sites More sharing options...
cherylandtk Posted November 15, 2017 #6 Share Posted November 15, 2017 Whoever you spoke to at Travelex fed you a load of poppycock. Insurance is a regulated industry and the same policy for the same persons of the same age residing in the same state have to be the same price. There may be a minor (~$8) policy issue fee in addition to the policy premium. A difference of the amount you describe is either because it was a similarly named but vastly different policy, or perhaps the amount of coverage on one form was per person and the other form was per Trip. Link to comment Share on other sites More sharing options...
Flatbush Flyer Posted November 15, 2017 #7 Share Posted November 15, 2017 Whoever you spoke to at Travelex fed you a load of poppycock. Insurance is a regulated industry and the same policy for the same persons of the same age residing in the same state have to be the same price. There may be a minor (~$8) policy issue fee in addition to the policy premium. A difference of the amount you describe is either because it was a similarly named but vastly different policy, or perhaps the amount of coverage on one form was per person and the other form was per Trip. Sort of correct. Some brokers have proprietary versions of an insurer's policy. A similar name may not speak to the fine print where total insurability limits and other restrictions/allowances may differ from the insurer's native policy. Price of the similarly named policy should be the same (at least, here in California). But, the terms of the actual contract will vary. Variations also depend on your state of residence. Sent from my iPhone using Forums Link to comment Share on other sites More sharing options...
hdcnm Posted November 15, 2017 Author #8 Share Posted November 15, 2017 I checked the limitations, inclusions, and exclusions and they matched and they both were for two persons - The policy I purchased covered what I wanted and it made sense for me purchase it through the actual company. Link to comment Share on other sites More sharing options...
MisterBill99 Posted December 8, 2017 #9 Share Posted December 8, 2017 I checked the limitations, inclusions, and exclusions and they matched and they both were for two persons - The policy I purchased covered what I wanted and it made sense for me purchase it through the actual company. It would have been interesting to hear what Insuremytrip had to say when you asked them about the discrepancy. I am currently looking into buying an annual policy and spoke to the folks at TripInsuranceStore and the quote they sent directed me to the provider's website to make the purchase. They include their agent number in the link so they get their commission, but you're buying directly from the insurance company. They specifically say that you pay the same price that you would from the company themselves. Link to comment Share on other sites More sharing options...
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