What It Means to Compare Travel Insurance and Why It Matters

Around 250 searches per month are made in Latvia using the phrase "compare travel insurance". This reflects a growing understanding among travellers that buying the first policy you find is not a smart approach. Policy prices and coverage levels can differ by two or three times even under similar conditions, which means that spending a few minutes comparing can save hundreds of euros or more if something actually goes wrong.

Every trip makes different demands. A week in Barcelona and a month in Thailand are entirely different situations in terms of medical risk and cost. A family holiday with children, an active mountain hike and a business trip to the United States each call for different types and levels of coverage. There is no universally best policy, and it is important to know which criteria to use when evaluating each offer in the context of a specific trip.

This article explains the main factors to consider when comparing travel insurance and shows where mistakes most often occur that later prove costly.

The Main Criteria for Comparing Travel Insurance

The first and most important criterion is the medical coverage limit. This is the amount the insurer will pay for treatment abroad. For European travel the minimum is 30,000 euros, while outside Europe, especially in the United States, Japan or Canada, at least 100,000 euros is recommended. In those countries even a single day of hospitalisation can cost several thousand euros, and without sufficient coverage the traveller must pay the entire amount themselves.

It is equally important to check whether the policy includes medical repatriation to Latvia. The European Health Insurance Card, which many travellers carry as extra peace of mind, does not cover this cost. Repatriation can range from 5,000 to 20,000 euros depending on the distance and the medical resources required, making this an essential item in any policy.

The second criterion is trip cancellation and interruption coverage. If you fall ill before departure, the policy can reimburse already-paid airline tickets and hotel bookings. Depending on the policy this limit is typically between 500 and 3,000 euros. One important detail: many policies require a waiting period of 72 hours before cancellation coverage becomes active. This is why it is advisable to buy the policy immediately after booking the trip rather than the day before departure.

The third factor is baggage coverage. Airport data shows that baggage problems affect a significant share of travellers every year. A lost or delayed suitcase for 24 hours can mean unplanned spending of 200 to 400 euros on essential items. Good policies compensate between 500 and 1,500 euros for lost belongings and cover the first urgent purchases in the event of a delay.

The fourth criterion is the deductible. The deductible is the amount the traveller pays out of their own pocket for each insurance claim. A lower deductible means a higher policy price and vice versa. When choosing, it is worth calculating whether the lower-deductible version offers better value given the nature and risk level of the trip.

The fifth aspect is coverage for active sports. Standard policies typically exclude skiing, diving, mountain climbing, kitesurfing and other intensive activities. If such activities are planned, additional coverage must be selected. Without it, an injury during active recreation may be entirely uncompensated even if the rest of the policy is in force. Active recreation travel insurance is designed precisely for such situations and includes both injury coverage and rescue operation costs.

The sixth factor is the geographic territory. Policies typically offer several options: Europe, Schengen, worldwide or specific regional combinations. A broader territory increases the price, but travelling to Asia or the Americas on a Europe-only policy means the coverage will not apply. Always confirm that the policy territory matches the destination exactly.

To compare offers from multiple insurers in one place and see differences in both price and coverage, you can use the Agento travel insurance comparison tool. The broker receives a commission from the insurer, so there is no additional charge to the client for comparing or consulting.

Mistakes Travellers Make When Buying Travel Insurance

The most common mistake is buying a policy at the last moment. People often remember insurance at the airport, even standing in the security queue. In that situation the choice is rushed and, as already noted, cancellation coverage is typically not active for the first day or two after the policy is issued.

The second widespread mistake is relying too heavily on the European Health Insurance Card. The EHIC does work, but it only covers state medical services to the same extent as local residents. It does not cover private clinics, dentistry in most cases, medical repatriation, delayed baggage or trip cancellation. The EHIC is a useful supplement to travel insurance, not a replacement.

The third mistake is failing to declare activities. If you plan to dive, ski or hike in the mountains but did not mention this when taking out the policy, the insurer may refuse to pay in the event of an accident. This is one of the most common sources of dispute in travel insurance, and it has a simple solution: declare all planned activities at the time of purchase.

The fourth mistake is not reading the policy exclusions. Every policy contains conditions under which coverage does not apply. These may include pre-existing chronic conditions that were known at the time of purchase, being under the influence of alcohol, conflict zones and sometimes certain sports or countries. Five minutes spent reading the exclusions can prevent serious disappointment when a claim is filed.

The fifth mistake is overlooking annual policies for those who travel several times a year. If you travel three or four times annually, an annual policy is often considerably cheaper than taking out a separate policy for each trip. It also removes the risk of forgetting to buy one before a trip.

Regardless of the destination and duration of your trip, comparing travel insurance is one of those tasks that takes ten minutes but can prove enormously valuable. The Latvian market offers many options, prices and coverage differ, and choosing the right one becomes easier when you know what to look for. A good policy does not guarantee nothing will happen, but it does mean that if something does, you will not be facing large bills alone in a foreign country.

Frequently Asked Questions

What does it mean to compare travel insurance? Comparing travel insurance means reviewing offers from multiple insurers at once, evaluating coverage, limits, deductibles, and price. Instead of choosing the first offer, comparison allows you to find the policy that provides the best protection at a reasonable price for your specific trip.
What medical limit is sufficient for travel in Europe? For travel in Europe, a medical limit of at least 30,000 euros is recommended. Outside Europe, for example in the USA or Japan, the limit should be increased to 100,000 euros or more, as treatment costs in these countries are significantly higher. Medical repatriation is not included in the EHIC card, so this should be checked separately in the policy.
Does the EHIC card fully replace travel insurance? No. EHIC provides public healthcare services in EU and EEA countries, but it does not cover private clinics, medical repatriation, lost baggage, trip cancellation, or delayed flights. EHIC and travel insurance complement each other and are not interchangeable.
When is the best time to purchase a travel insurance policy? The best time is right after booking your trip. Many policies stipulate that trip cancellation coverage only takes effect 72 hours after policy purchase. If you buy the policy the day before departure, this coverage may not be active. Early purchase ensures full protection at minimal additional cost.
Does travel insurance cover active sports activities? Standard policies usually do not include active sports such as skiing, diving, mountain climbing, or paragliding. Additional coverage or a specialized active recreation policy is required. Before purchasing, be sure to specify all planned activities, otherwise a claim may be denied in case of an incident.