Because many travelers purchase their travel insurance months before they actually depart on a trip, they often find the need to increase the policy’s trip cost as they make additional payments and purchases for their trip.
Trip cost is usually defined as the prepaid, nonrefundable travel expenses a traveler purchases prior to departure. Trip cost does not typically include food, gas or any other incidentals they may encounter while they are on the trip. This is because travel insurance will only reimburse travelers for their out of pocket expenses if they need to cancel a trip.
Travelers can increase the trip cost on a policy as long as they do so before they depart on the trip. The trip cost is one factor that affects premium. When travelers increase trip cost, they may also need to pay additional premium. This can be done as many times as necessary before departure to make sure the traveler’s trip cost reflects their travel expenses.
Keep in mind that some benefits require travelers to insure 100% of their prepaid, nonrefundable expenses in order to maintain coverage. These benefits include Cancel for Any Reason and Pre-Existing Condition coverage. If travelers require this coverage, they must insure all their expenses.