G1G policy premiums are determined by a number of factors. It is important to remember that all policies meet our rigorous set of standard, but we offer plans with various scopes of coverage to give you options. This is where your customization comes into play, and you must decide if price or risk is more important to you.
We first break the plans down into two categories: Comprehensive and Fixed Benefit Plans. Comprehensive Coverage Plans (oftentimes more expensive) offer expansive and flexible coverage than Fixed Benefit Plans (oftentimes less expensive). With slightly higher costs up front than Fixed Benefit Plans — Comprehensive Plans offer a broader spectrum of coverage and include trip protection benefits such as baggage loss or trip interruption coverage.
From here, the plan distinctions become more granular as you are able to determine and select what is more important to you by utilizing the slider system located on the compare page. Here you are able to adjust the desired deductible and general scope of coverage, all of which will effect the premium.
Other factors play into pricing policies such as age, destination and trip duration, but these factors affect each policy equally and are unwavering from policy to policy. Basically, these aspects are uncontrollable factors that are entirely out of our control.
When selecting a policy, most people tend to look at the price and select the cheapest one, but if you read each flippable card displayed on the compare page, you will see that the policy maximum and scope of coverage changes to offer a more nuanced choice selection for the buyer.
A cheaper policy will often have a lower policy maximum, lower percentage of coverage for medical proceeders and a higher deductible.