Visitors insurance plans typically fall under two types: comprehensive coverage plans and limited coverage plans. Simply put, limited plans tend to be cheaper but offer far less coverage and financial protection. On the other hand, comprehensive plans cost slightly more, but provide more extensive coverage, particularly in situations in which medical attention is needed. For better benefits, less out-of-pocket expenses, and fewer financial burdens, we recommend comprehensive coverage.
Visitors insurance plans typically fall under two types: comprehensive coverage plans and limited coverage plans. Simply put, limited plans tend to be cheaper but offer far less coverage and financial protection. On the other hand, comprehensive plans cost slightly more, but provide more extensive coverage, particularly in situations in which medical attention is needed. For better benefits, less out-of-pocket expenses, and fewer financial burdens, we recommend comprehensive coverage.
Limited vs. Comprehensive Coverage Explained
When choosing between limited or comprehensive visitors insurance coverage, gaining insight into the key differences and evaluating your individual needs can help you ultimately decide on the right plan for you. The main difference between limited visitors insurance and comprehensive visitors insurance is the type of coverage offered.
How Do Limited Coverage Plans Work?
Limited coverage visitors insurance plans work on a fixed benefit model, meaning that the payout for each incident (service, visit, or treatment) is predefined, regardless of the actual cost of the incident. These predetermined coverage amounts are listed in a plan’s benefit summary for each individual service.
For example, if the fixed benefit for a doctor’s visit for your plan is $75, and you visit a doctor where your total bill is more than $75, you will be responsible for any additional expenses out-of-pocket, including your deductible.
How Do Comprehensive Coverage Plans Work?
Comprehensive visitors insurance plans work on percentage-based coverage, and can offer anywhere from 75% to 100% coverage of eligible medical costs up to the policy maximum.
For example, let’s say you have a policy that pays up to 100% of eligible medical expenses in-network. If you visit the doctor and your bill is $300, assuming that your claim is approved, your plan will pay 100% of eligible expenses in your bill up to the policy maximum after your deductible is met.
Compare Comprehensive vs. Limited Coverage Plans
Compare benefits, coverage amounts, costs, and more for comprehensive coverage plans and limited coverage plans below.
Enhanced benefits package in comparison to limited coverage plans. Best suited for higher risks or anticipated substantial expenditure.
Provides basic coverage. Ideal for general or basic service that covers lower risks.
Most comprehensive travel insurance plans work like PPO plans, where the insured's liability is the deductible and you also have co-insurance.
Basic coverage, all possible medical treatment/service cost is pre-determined. Example: each doctor visit is covered for $X.
Most of them are like PPO plans and have a PPO network, implying a greater acceptance inside the network at higher discounted rates.
May or may not be included in PPO network. You can visit any doctor. Hospital expenses will be paid as per the pre-determined rates stated in the policy.
You may visit any doctor. However, it's advisable to visit a facility within the provider network, if a PPO network is available.
Yes, no matter which doctor you visit, the plan will pay only a pre-defined limit per doctor visit for the services taken.
Most of them include travel related coverage within the insurance bundle. This may offer you protection against trip cancellations, baggage loss, terrorism attacks, etc.
None
Higher premium
Low premium (low cost)
These are key features to consider before selecting the type of visitors insurance plan that is right for you. While limited coverage may be more attractive due to its cost, comprehensive coverage offers more protection and ultimately will cost you less out-of-pocket.
Why comprehensive plans are preferred