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How Much Is Travel Insurance in 2024?

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Table of Contents

Average cost of travel insurance by trip cost

Factors that affect travel insurance cost, more example costs of travel insurance, types of travel insurance, how to buy travel insurance, credit cards with travel insurance, cost of travel insurance recapped.

According to NerdWallet analysis, the short answer to “How much does travel insurance cost?” is that it’s typically 7% of your overall trip cost. For example, travel insurance will cost you an additional $70 (roughly) for a $1,000 trip.

However, depending on your provider, travel insurance costs can range from 4%-16% of your trip cost. That means for that $1,000 trip, you might find coverage for as little as $40 or up $160 on the high end.

Costs vary across providers, level of coverage and factors like your age and destination. Let’s take a look at the different types of travel insurance, what influences its cost and the average cost of travel insurance.

The Nerds dove deep into over 50 real world coverage price points to get a clearer sense of typical travel insurance costs in 2024.

On average, travelers should expect to pay 6.87% of their total trip cost for travel insurance. The minimum you might expect to pay is 4.15%, but it can go as high as 15.8%.

How did we determine these ballpark travel insurance prices?

We broke it down by looking at four individual providers' cheapest basic plan and most expensive basic plan for two traveler age demographics: a 30 year old and a 60 year old.

The Texas-based travelers are taking a 10 day trip to Florida in the summer. Included providers in our analysis were:

Allianz Global Assistance .

Travel Guard by AIG .

USI Affinity Travel Insurance Services .

Travel Insured International .

World Nomads .

Berkshire Hathaway Travel Protection .

Travelex Insurance Services .

Seven Corners .

AXA Assistance USA .

TravelSafe .

HTH Insurance .

According to the U.S. Travel Insurance Association, a national association of insurance carriers, the amount you can expect to pay for travel insurance will vary between 4% to 8% of your overall trip. This falls in the general range of our analysis, too.

If your vacation was $5,000, you’d be looking at somewhere between $200 and $400 for insurance. NerdWallet findings corroborate this range, with the average travel insurance cost for a trip at this price point being about $350.

Of course, as we describe below, the type of coverage you choose can greatly affect the cost of your insurance.

» Learn more: What does travel insurance cover?

So, how much is travel insurance? Several factors will influence the cost, like:

Type and extent of coverage.

The length of your trip.

Your destination.

The age of the policyholder.

Total trip cost.

Let’s say that you chose to purchase an insurance policy to cover any health care expenses you incur while traveling. This will reimburse you in the event you need to see a doctor, require hospitalization or have a variety of needs related to health care.

However, let’s say that you also chose to insure some of your trip costs; this means that, if need be, the policy will reimburse you for nonrefundable trip costs in case of a covered event. This will drive up the price of your policy overall.

Another factor that will affect the cost of your travel insurance is the coverage limits of your policy. These limits dictate how much you’ll be reimbursed in the event you need to use your insurance; the higher the amount, the more expensive your insurance.

» Learn more: The best travel insurance companies

Here are some sample costs of travel insurance for a seven-day trip in the United States for two travelers ages 34 and 36. Full trip costs are estimated to be $2,000, and trip bookings have yet to be paid in full.

Policies include trip interruption coverage, travel delay coverage (up to $500) and emergency medical coverage.

In addition to the cost of travel insurance, we also need to talk about the different types of travel insurance. This is because the price you’ll pay will depend on the insurance you choose. Some policies — like those that allow you to cancel for any reason — can be more expensive than other, more limited, policies.

Common types of travel insurance include:

Lost luggage insurance .

Trip interruption insurance .

Trip cancellation insurance .

Rental car insurance .

Cancel For Any Reason insurance .

Health insurance .

Accidental death insurance .

Emergency evacuation insurance .

Different types of insurance will cover various things. Trip cancellation insurance, for example, will allow you to recoup a portion of nonrefundable costs when you’re forced to cancel your trip for a covered reason.

It’s simple to purchase travel insurance; you’ve probably seen dozens of ads for insurance whenever booking a flight or rental car.

However, it’s a better idea to get multiple quotes for policies. Insurance policy aggregators, such as Squaremouth, allow you to search a variety of different providers at once. You can then compare the coverage and price of each policy before choosing one that suits your needs.

» Learn more: What to know before buying travel insurance

If you’re looking into purchasing travel insurance, you may want to check which credit card you’re using to book your trip. Many of today’s popular travel credit cards offer complimentary travel insurance.

Cards such as the Chase Sapphire Preferred® Card offer primary rental car insurance; this means that the card will pay for any covered damage so that it doesn’t pass on to your personal insurance policy.

The types of insurance and total coverage vary according to the card, so you’ll want to check your individual policies.

Common coverage includes trip delay insurance, lost luggage insurance, rental car insurance and emergency medical insurance.

Popular cards that provide these types of coverage include:

Chase Sapphire Preferred® Card .

Chase Sapphire Reserve® .

Capital One Venture X Rewards Credit Card . (Benefits may change over time.)

The Platinum Card® from American Express . Terms apply.

United℠ Explorer Card .

In order to qualify for coverage, you’ll want to use your card to pay for any trip costs, including your airfare, lodging and rental cars.

The amount you’ll be reimbursed varies widely depending on which card you hold. For instance, the Chase Sapphire Preferred® Card provides coverage for up to $10,000 per person and $20,000 per trip for prepaid, nonrefundable travel expenses for covered trip cancellations.

Chase Sapphire Preferred® Card

These include airfare, accommodations and even tours.

The United℠ Explorer Card , meanwhile, offers far less coverage at just $1,500 per person and $6,000 per trip.

United℠ Explorer Card

$0 intro for the first year, then $95

Of course, your trip will need to fall under covered circumstances, including sickness and severe weather.

» Learn more: Does my Chase credit card have travel insurance?

It can make sense to purchase travel insurance, especially if you’re unsure about your vacation or worried about incurring expenses you can’t afford. Before buying a policy, you’ll first want to decide what type of insurance you’re looking to buy; some types of coverage cost much more than others.

You’ll also want to check to see if your credit card already provides complimentary travel insurance. Many popular travel cards offer this feature, though the limits may be lower than you might prefer.

Finally, do your homework before buying a policy. Gather quotes from multiple companies before making a decision, and remember the average price of trip insurance ranges from 4% to 8% of your total vacation costs.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

1x-2x Earn 2X points on Southwest® purchases. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services, and select streaming. Earn 1X points on all other purchases.

50,000 Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

Find The Best Travel Insurance Policy For Your Needs & Avoid Costly Surprises!

Compare 2024's Best Travel Insurance Companies. Get Yourself Peace Of Mind.

Compare and Buy Travel Insurance

Standard single trip policies.

• The most popular and comprehensive travel insurance plan
• Covers cancellations, medical emergencies, delays, and luggage
• Protection from the time you purchase to the date you return

Annual / Multi Trip Policies

• Cost-effective option for travelers taking multiple trips a year
• Includes common medical, delay, and luggage benefits
• May require add-ons from trip cancellation or interruption

Cruise Insurance Policies

• Offers comprehensive trip protection on land and at sea
• Includes high travel medical insurance coverage limits
• Protects against hurricanes, inclement weather, and more

Adventure & Sports Policies

• Essential for travelers partaking in high-risk activities
• Provides protection for lost or delayed sports equipment
• Strong coverage for cancellations and medical emergencies

Compare and Save in Minutes

Whether you’re heading abroad or staying local, we make it easy to find the best travel insurance plan for your next adventure. No bias. No hidden fees. Just the best trip protection quotes from the country’s leading providers.

Tell us some basic information about your next trip. We’ll use these details to help narrow your search and show the plans that best fit your needs.

Easily see how plans from the best travel insurance providers compete on cost and coverage. Use filters and sort results to uncover the right plan for you.

Get peace of mind at the lowest possible price. We partner with leading providers to offer you the best policies at the best value, guaranteed.

Why Trust Squaremouth?

When selecting a travel insurance provider, it's crucial to compare options. Obtain quotes from three to five insurers to ensure the best coverage and value. While it may seem time-consuming, this process can result in significant savings.

That's why we're here – over the past two decades, our industry-leading comparison engine has helped millions of travelers find highly-rated insurance plans and protect their trip expenses.

Our industry-leading comparison platform , enriched by customer reviews, displays unbiased results based on your specific trip details. If you run into any trouble, our multi-award-winning customer service team is just a phone call away.

• Helped more than 3 million travelers
• 20+ years serving the travel community
• Intuitive & user-friendly comparison engine
• More plans and top-rated providers than the competition
• Prices are regulated by law; you won't find a lower price anywhere else
• Multi award-winning customer service team
• 140,000+ customer reviews

Save With Squaremouth

Squaremouth has helped more than 3 million travelers find the best policy for their trip.

Key Travel Insurance Benefits

Most trip insurance policies are comprehensive, including coverage for cancellations, medical emergencies, travel delays, and lost luggage, among other benefits.

What Coverage is the Most Important?

Squaremouth customer reviews.

More than 99% of customers would recommend Squaremouth to others. Read what a few of them had to say about their recent experience buying travel insurance.

Great Experience!

"The Squaremouth website is fantastic! It was very easy to select coverage and find and compare policies. Will recommend it to others."

Savannah from NC 03/26/2024

Great Coverage and Price

"Getting a travel insurance quote online was easy. We have used Squaremouth before and have been pleased each time. It's peace of mind for our travel needs."

Rhonda from IN 03/20/2024

Easy to Use!

"I always use Squaremouth simply because it is so easy to use and offers plans that are affordable to me."

Emily from AZ 03/08/2024

Very pleased!

"They give great service, and the website is so easy to navigate to find just the right insurance plan. I always appreciate working with them."

Don from UT 03/07/2024

The Squaremouth website is fantastic! It was very easy to select coverage and find and compare policies. Will recommend it to others.

Featured Articles

Our topic experts keep a constant pulse on the travel industry so we can provide the most current information and recommendations based on today's traveler needs.

What Type of Insurance Do I Need?

Plans can range in terms of cost and coverage, so it’s important to identify your specific needs before comparing options. Discover the different types of travel insurance policies you should consider for your upcoming trip.

How to Buy Travel Insurance on Squaremouth

If you’re new to Squaremouth, this quick guide can help you identify your needs, start your first quote, and compare your results. If you need additional help, our customer service team is just a phone call away.

Travel Insurance FAQs

Here are some of the most frequently asked questions from travelers like you.

Is Travel Insurance Mandatory for International Travel?

While rare, some countries or organized tours may require proof of travel insurance that lasts for the duration of your trip. Our Destination Center is a good starting point to learn about entry requirements and travel insurance recommendations.

While it is typically not mandatory, travelers should consider buying insurance if they want to protect themselves financially from unforeseen events that may impact their travel plans. Many Americans and U.S. residents purchase travel insurance when planning international or high cost trips. View our list of the top international travel insurance providers .

What Does Travel Insurance Cover?

Comprehensive travel insurance is designed to cover common disruptions that may impact a trip. Most policies will provide coverage for trip cancellations , medical emergencies , travel delays , missed connections , accidental death and dismemberment , and lost luggage . Travelers that experience financial loss as a result of a covered disruption may be eligible for reimbursement through their insurance policy.

How Much Does Travel Insurance Cost?

In general, a comprehensive policy with Trip Cancellation typically costs between 5% and 10% of the total trip cost. The cost of a policy depends on four primary factors: trip cost, traveler age, trip length, and coverage amounts. A policy without an insured trip cost will be significantly less expensive. We recommend comparing plans from multiple providers to find the best priced plan for your trip.

What Should I Look for When Comparing Travel Insurance?

There’s no one-size-fits-all policy when it comes to travel insurance. When comparing plans, you should consider the following:

• Benefits: Travel insurance benefits outline what situations are covered under each plan. Make sure each plan you’re considering includes coverage for what’s important to you.
• Coverage Limits: Plans will set limits to how much reimbursement you’re eligible for, and can vary significantly. Higher coverage limits can result in less out of pocket expenses in the event of a claim.
• Exclusions: Travel insurance companies will list specific activities, equipment, and scenarios that are not covered by their plans in the event of a claim.
• Premium: Higher priced insurance products do not always equate to better coverage. We recommend choosing the most affordable plan that offers the travel protection you need.
• Provider Reputation: All providers on Squaremouth have been carefully vetted and offer 24-Hour Assistance services. Customers are also encouraged to share honest reviews about their experience before, during, and after their trips.

Does Travel Medical Insurance Cover International Trips?

In many cases, primary health care plans, such as Medicare or a policy you have through your employer, are not accepted overseas. If you’re not covered, you may be responsible for unforeseen medical expenses if you get sick or injured while traveling.

To avoid out-of-pocket expenses if you need medical care in the event of an emergency, many travelers opt for travel medical insurance. These plans can cover the cost of treating unexpected medical conditions incurred during your international trip.

Are Pre-Existing Conditions Covered by Travel Insurance?

Coverage for pre-existing conditions varies among travel insurance policies. While many plans won’t offer coverage for existing injuries or illnesses, some plans may offer Pre-Existing Condition waivers if certain conditions are met, such as purchasing the policy within a specified time frame from booking the trip.

Will My Policy Cover Trip Cancellations?

Yes, many comprehensive travel insurance policies cover trip cancellations under specified circumstances, such as sudden illness, injury, or death of the insured or a family member, natural disasters, or unexpected work obligations. Most policies that include the Trip Cancellation benefit offer 100% reimbursement for all prepaid, non-refundable trip costs.

What’s the Difference Between Single-Trip and Annual Travel Insurance?

Single-trip travel insurance covers a specific journey for a set duration, offering protection for that trip only. This is the most popular type of travel insurance among Squaremouth users. In contrast, Annual Travel Insurance provides coverage for multiple trips within a year. Annual plans can be cost-effective for frequent travelers and less of a hassle than purchasing multiple single-trip plans.

What's the Process for Filing a Travel Insurance Claim?

To file a trip insurance claim, follow these steps:

• Contact your insurer: Notify them as soon as possible about the incident.
• Gather documentation: Collect relevant documents, such as police reports, medical records, or receipts for expenses incurred.
• Complete the claim form: Fill out the insurer's claim form with accurate details.
• Submit supporting documents: Attach all required documents to substantiate your claim.
• Keep records: Maintain copies of all submissions and correspondence for your records.
• Follow up: Stay in touch with the insurer for updates on your claim status.
• Be honest and thorough: Provide clear and truthful information to expedite the process.

Remember, the process may vary by insurer, so review your policy or contact your insurance provider for specific instructions. Learn more about what can be covered and how to file a travel insurance claim .

Where Can I Buy Travel Insurance?

Travelers can purchase travel insurance directly from providers, through a comparison site like Squaremouth, or directly through a travel supplier when booking. Credit cards and travel agents are other sources to consider. Travel insurance prices are regulated by law, meaning the price of one specific policy must be the same regardless of where it is sold, whether it’s purchased from Squaremouth or directly from the provider.

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Travel Insurance

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For flight insurance protection:

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For all-in-one trip insurance protection:

ExactCare Travel Quote

Manage Your Travel And Flight Insurance

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Take the worry out of your travels with affordable flight or trip insurance.

Looking to plan the vacation of a lifetime or flying home for the holidays? Trip insurance and flight insurance can provide the peace of mind you need for your next journey. The GEICO Insurance Agency, with Berkshire Hathaway Travel Protection (BHTP), offers comprehensive travel insurance coverage, with prompt service and global assistance. Get an online travel insurance quote today and confidently protect your next adventure.

AirCare Flight Insurance

If you only need to protect your travel costs for a flight, AirCare may be what you need. With affordable coverage for both domestic and international flights, AirCare flight insurance helps you plan with peace of mind.

ExactCare Travel Insurance

If you want to cover your flight and other trip arrangement's ExtraCare can help. An ExactCare Travel Insurance policy can help with the unexpected like:

• Trip Cancellations/Interruptions/Delays
• Lost/Stolen travel documents
• Unexpected medical expenses

What's the difference between flight insurance and travel insurance?

The main difference is that a flight insurance policy only covers your airfare. On the other hand, a travel insurance policy helps protect your flight as well as other parts of your trip. While you're planning your next trip, think about where you're going and what you'll be doing. Once you have that, it'll be easier to choose which policy works best for your trip.

What does a flight insurance policy cover?

AirCare Flight Insurance has a variety of benefits including emergency travel assistance, 24/7/365. Some common flight coverages are:

• Airfare incase flights are cancelled or you miss a connection
• Personal items like lost or delayed luggage
• Flight delays in your departure (at the gate or on the tarmac)

AirCare Quote

What does a travel insurance policy cover?

ExactCare Travel Insurance provides all-in-one travel protection, with family friendly pricing and worldwide emergency travel assistance 24/7/365. Common things covered by travel insurance are:

• Trip cancellation or interruption
• Personal items like passports and luggage
• Medical costs like hospital and doctor expenses, medical evacuations, and more

ExactCare quote

What is not covered by travel insurance?

Your coverage is based on the plan you choose. However, in general some things that aren't normally covered by travel insurance are:

• Action and team sports, for example auto racing, pro sports travel, or other extreme sport activities
• Travel to get medical care
• Trip Cancellation because you changed your mind

For more information, please check your policy.

Is travel or trip insurance worth the cost?

Travel insurance can help protect your vacation or trips from unexpected things happening. You can travel without trip insurance but doing so brings greater risk if something goes wrong or you encounter unexpected delays. Flight insurance or trip insurance coverage can include things like flight cancellation, lost luggage, trip cancellation, emergency medical transportation, and more. Learn more about travel insurance and why you should get a travel insurance quote today!

How much does travel insurance cost?

Travel insurance typically costs 5 to 10 percent of your total trip cost, though that can be influenced by several things.

• The cost of the trip
• The length of your trip and destination
• The amount of coverage selected
• The number of travelers covered under the policy

Worldwide service and claims information.

It's easy to manage your travel insurance..

Berkshire Hathaway Travel Protection (BHTP) has made it easy to manage your travel insurance. You can:

• Visit Berkshire Hathaway Travel Protection's website
• Email [email protected]

Is travel insurance worth it?

Yes. Things happen that are out of your control. Whether it's your flight being cancelled or delayed to a family emergency. Life happens and that's how travel insurance can help. Plan for the unexpected with a travel insurance policy so you can rest easy knowing you're covered.

Travel Insurance: Get the answers you're looking for.

• What travel insurance plans are available? BHTB offers AirCare (flight only) and 3 main plans: ExactCare Value, ExactCare, and ExactCare Extra. ExactCare Value provides great traveling insurance coverage for budget minded travelers. You can rest easy knowing you're covered for things like trip cancellation, trip interruption, and medical expenses. The main difference is the maximum amount that will be covered. ExactCare and ExactCare Extra's insurance cover the same things as ExactCare Value and add coverage for missed connections and accidental death & dismemberment. The overall amount covered is also increased for each plan respectively.
• Can I get trip insurance for an extended overseas stay? Yes. We can help you with getting insurance for overseas. Please visit our overseas insurance page for information about all the options we have for you!
• Is there travel insurance that can cover my vehicle while traveling to Mexico? Your US auto insurance policy won't cover your vehicle when you drive into Mexico. We're here to help you find the Mexico car insurance you need to insure your car.
• Tips for saving money on your next vacation. No one wants to overpay things. We're here to help. Check out our 5 ways to save your money on your next family vacation.
• Where you're going
• Number of days you're traveling
• Cost of your overall trip
• Coverage you pick
• Number of people covered under your policy

If you choose to get a rate quote or service your policy online, you will be taken to the Berkshire Hathaway Travel Protection website which is owned by Berkshire Hathaway Specialty Insurance Company, not GEICO. Any information that you provide directly to Berkshire Hathaway Specialty Insurance Company on its website is subject to the privacy policy posted on their website, which you should read before proceeding. GEICO assumes no responsibility for their privacy practices or your use of their website.

ExactCare is provided through Berkshire Hathaway Global Insurance Services, LLC. ExactCare and AirCare are underwritten by Berkshire Hathaway Specialty Insurance Company. Both coverages are secured through the GEICO Insurance Agency, LLC.

Benefits may vary by jurisdiction. Please contact a representative to confirm availability.

Please note:

The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.

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The best travel insurance policies and providers

It's easy to dismiss the value of travel insurance until you need it.

Many travelers have strong opinions about whether you should buy travel insurance . However, the purpose of this post isn't to determine whether it's worth investing in. Instead, it compares some of the top travel insurance providers and policies so you can determine which travel insurance option is best for you.

Of course, as the coronavirus remains an ongoing concern, it's important to understand whether travel insurance covers pandemics. Some policies will cover you if you're diagnosed with COVID-19 and have proof of illness from a doctor. Others will take coverage a step further, covering additional types of pandemic-related expenses and cancellations.

Know, though, that every policy will have exclusions and restrictions that may limit coverage. For example, fear of travel is generally not a covered reason for invoking trip cancellation or interruption coverage, while specific stipulations may apply to elevated travel warnings from the Centers for Disease Control and Prevention.

Interested in travel insurance? Visit InsureMyTrip.com to shop for plans that may fit your travel needs.

So, before buying a specific policy, you must understand the full terms and any special notices the insurer has about COVID-19. You may even want to buy the optional cancel for any reason add-on that's available for some comprehensive policies. While you'll pay more for that protection, it allows you to cancel your trip for any reason and still get some of your costs back. Note that this benefit is time-sensitive and has other eligibility requirements, so not all travelers will qualify.

In this guide, we'll review several policies from top travel insurance providers so you have a better understanding of your options before picking the policy and provider that best address your wants and needs.

The best travel insurance providers

To put together this list of the best travel insurance providers, a number of details were considered: favorable ratings from TPG Lounge members, the availability of details about policies and the claims process online, positive online ratings and the ability to purchase policies in most U.S. states. You can also search for options from these (and other) providers through an insurance comparison site like InsureMyTrip .

When comparing insurance providers, I priced out a single-trip policy for each provider for a $2,000, one-week vacation to Istanbul . I used my actual age and state of residence when obtaining quotes. As a result, you may see a different price — or even additional policies due to regulations for travel insurance varying from state to state — when getting a quote.

AIG Travel Guard

AIG Travel Guard receives many positive reviews from readers in the TPG Lounge who have filed claims with the company. AIG offers three plans online, which you can compare side by side, and the ability to examine sample policies. Here are three plans for my sample trip to Turkey.

AIG Travel Guard also offers an annual travel plan. This plan is priced at $259 per year for one Florida resident.

Additionally, AIG Travel Guard offers several other policies, including a single-trip policy without trip cancellation protection . See AIG Travel Guard's COVID-19 notification and COVID-19 advisory for current details regarding COVID-19 coverage.

Preexisting conditions

Typically, AIG Travel Guard wouldn't cover you for any loss or expense due to a preexisting medical condition that existed within 180 days of the coverage effective date. However, AIG Travel Guard may waive the preexisting medical condition exclusion on some plans if you meet the following conditions:

• You purchase the plan within 15 days of your initial trip payment.
• The amount of coverage you purchase equals all trip costs at the time of purchase. You must update your coverage to insure the costs of any subsequent arrangements that you add to your trip within 15 days of paying the travel supplier for these additional arrangements.
• You must be medically able to travel when you purchase your plan.

Standout features

• The Deluxe and Preferred plans allow you to purchase an upgrade that lets you cancel your trip for any reason. However, reimbursement under this coverage will not exceed 50% or 75% of your covered trip cost.
• You can include one child (age 17 and younger) with each paying adult for no additional cost on most single-trip plans.
• Other optional upgrades, including an adventure sports bundle, a baggage bundle, an inconvenience bundle, a pet bundle, a security bundle and a wedding bundle, are available on some policies. So, an AIG Travel Guard plan may be a good choice if you know you want extra coverage in specific areas.

Purchase your policy here: AIG Travel Guard .

Allianz Travel Insurance

Allianz is one of the most highly regarded providers in the TPG Lounge, and many readers found the claim process reasonable. Allianz offers many plans, including the following single-trip plans for my sample trip to Turkey.

If you travel frequently, it may make sense to purchase an annual multi-trip policy. For this plan, all of the maximum coverage amounts in the table below are per trip (except for the trip cancellation and trip interruption amounts, which are an aggregate limit per policy). Trips typically must last no more than 45 days, although some plans may cover trips of up to 90 days.

See Allianz's coverage alert for current information on COVID-19 coverage.

Most Allianz travel insurance plans may cover preexisting medical conditions if you meet particular requirements. For the OneTrip Premier, Prime and Basic plans, the requirements are as follows:

• You purchased the policy within 14 days of the date of the first trip payment or deposit.
• You were a U.S. resident when you purchased the policy.
• You were medically able to travel when you purchased the policy.
• On the policy purchase date, you insured the total, nonrefundable cost of your trip (including arrangements that will become nonrefundable or subject to cancellation penalties before your departure date). If you incur additional nonrefundable trip expenses after purchasing this policy, you must insure them within 14 days of their purchase.
• Allianz offers reasonably priced annual policies for independent travelers and families who take multiple trips lasting up to 45 days (or 90 days for select plans) per year.
• Some Allianz plans provide the option of receiving a flat reimbursement amount without receipts for trip delay and baggage delay claims. Of course, you can also submit receipts to get up to the maximum refund.
• For emergency transportation coverage, you or someone on your behalf must contact Allianz, and Allianz must then make all transportation arrangements in advance. However, most Allianz policies provide an option if you cannot contact the company: Allianz will pay up to what it would have paid if it had made the arrangements.

Purchase your policy here: Allianz Travel Insurance .

American Express Travel Insurance

American Express Travel Insurance offers four different package plans and a build-your-own coverage option. You don't have to be an American Express cardholder to purchase this insurance. Here are the four package options for my sample weeklong trip to Turkey. Unlike some other providers, Amex won't ask for your travel destination on the initial quote (but will when you purchase the plan).

Amex's build-your-own coverage plan is unique because you can purchase just the coverage you need. For most types of protection, you can even select the coverage amount that works best for you.

The prices for the packages and the build-your-own plan don't increase for longer trips — as long as the trip cost remains constant. However, the emergency medical and dental benefit is only available for your first 60 days of travel.

Typically, Amex won't cover any loss you incur because of a preexisting medical condition that existed within 90 days of the coverage effective date. However, Amex may waive its preexisting-condition exclusion if you meet both of the following requirements:

• You must be medically able to travel at the time you pay the policy premium.
• You pay the policy premium within 14 days of making the first covered trip deposit.
• Amex's build-your-own coverage option allows you to only purchase — and pay for — the coverage you need.
• Coverage on long trips doesn't cost more than coverage for short trips, making this policy ideal for extended getaways. However, the emergency medical and dental benefit only covers your first 60 days of travel.
• American Express Travel Insurance can protect travel expenses you purchase with Amex Membership Rewards points in the Pay with Points program (as well as travel expenses bought with cash, debit or credit). However, travel expenses bought with other types of points and miles aren't covered.

Purchase your policy here: American Express Travel Insurance .

GeoBlue is different from most other providers described in this piece because it only provides medical coverage while you're traveling internationally and does not offer benefits to protect the cost of your trip. There are many different policies. Some require you to have primary health insurance in the U.S. (although it doesn't need to be provided by Blue Cross Blue Shield), but all of them only offer coverage while traveling outside the U.S.

Two single-trip plans are available if you're traveling for six months or less. The Voyager Choice policy provides coverage (including medical services and medical evacuation for a sudden recurrence of a preexisting condition) for trips outside the U.S. to travelers who are 95 or younger and already have a U.S. health insurance policy.

The Voyager Essential policy provides coverage (including medical evacuation for a sudden recurrence of a preexisting condition) for trips outside the U.S. to travelers who are 95 or younger, regardless of whether they have primary health insurance.

In addition to these options, two multi-trip plans cover trips of up to 70 days each for one year. Both policies provide coverage (including medical services and medical evacuation for preexisting conditions) to travelers with primary health insurance.

Be sure to check out GeoBlue's COVID-19 notices before buying a plan.

Most GeoBlue policies explicitly cover sudden recurrences of preexisting conditions for medical services and medical evacuation.

• GeoBlue can be an excellent option if you're mainly concerned about the medical side of travel insurance.
• GeoBlue provides single-trip, multi-trip and long-term medical travel insurance policies for many different types of travel.

Purchase your policy here: GeoBlue .

IMG offers various travel medical insurance policies for travelers, as well as comprehensive travel insurance policies. For a single trip of 90 days or less, there are five policy types available for vacation or holiday travelers. Although you must enter your gender, males and females received the same quote for my one-week search.

You can purchase an annual multi-trip travel medical insurance plan. Some only cover trips lasting up to 30 or 45 days, but others provide coverage for longer trips.

See IMG's page on COVID-19 for additional policy information as it relates to coronavirus-related claims.

Most plans may cover preexisting conditions under set parameters or up to specific amounts. For example, the iTravelInsured Travel LX travel insurance plan shown above may cover preexisting conditions if you purchase the insurance within 24 hours of making the final payment for your trip.

For the travel medical insurance plans shown above, preexisting conditions are covered for travelers younger than 70. However, coverage is capped based on your age and whether you have a primary health insurance policy.

• Some annual multi-trip plans are modestly priced.
• iTravelInsured Travel LX may offer optional cancel for any reason and interruption for any reason coverage, if eligible.

Purchase your policy here: IMG .

Travelex Insurance

Travelex offers three single-trip plans: Travel Basic, Travel Select and Travel America. However, only the Travel Basic and Travel Select plans would be applicable for my trip to Turkey.

See Travelex's COVID-19 coverage statement for coronavirus-specific information.

Typically, Travelex won't cover losses incurred because of a preexisting medical condition that existed within 60 days of the coverage effective date. However, the Travel Select plan may offer a preexisting condition exclusion waiver. To be eligible for this waiver, the insured traveler must meet all the following conditions:

• You purchase the plan within 15 days of the initial trip payment.
• The amount of coverage purchased equals all prepaid, nonrefundable payments or deposits applicable to the trip at the time of purchase. Additionally, you must insure the costs of any subsequent arrangements added to the same trip within 15 days of payment or deposit.
• All insured individuals are medically able to travel when they pay the plan cost.
• The trip cost does not exceed the maximum trip cost limit under trip cancellation as shown in the schedule per person (only applicable to trip cancellation, interruption and delay).
• Travelex's Travel Select policy can cover trips lasting up to 364 days, which is longer than many single-trip policies.
• Neither Travelex policy requires receipts for trip and baggage delay expenses less than $25.
• For emergency evacuation coverage, you or someone on your behalf must contact Travelex and have Travelex make all transportation arrangements in advance. However, both Travelex policies provide an option if you cannot contact Travelex: Travelex will pay up to what it would have paid if it had made the arrangements.

Purchase your policy here: Travelex Insurance .

Seven Corners

Seven Corners offers a wide variety of policies. Here are the policies that are most applicable to travelers on a single international trip.

Seven Corners also offers many other types of travel insurance, including an annual multi-trip plan. You can choose coverage for trips of up to 30, 45 or 60 days when purchasing an annual multi-trip plan.

See Seven Corner's page on COVID-19 for additional policy information as it relates to coronavirus-related claims.

Typically, Seven Corners won't cover losses incurred because of a preexisting medical condition. However, the RoundTrip Choice plan offers a preexisting condition exclusion waiver. To be eligible for this waiver, you must meet all of the following conditions:

• You buy this plan within 20 days of making your initial trip payment or deposit.
• You or your travel companion are medically able and not disabled from travel when you pay for this plan or upgrade your plan.
• You update the coverage to include the additional cost of subsequent travel arrangements within 15 days of paying your travel supplier for them.
• Seven Corners offers the ability to purchase optional sports and golf equipment coverage. If purchased, this extra insurance will reimburse you for the cost of renting sports or golf equipment if yours is lost, stolen, damaged or delayed by a common carrier for six or more hours. However, Seven Corners must authorize the expenses in advance.
• You can add cancel for any reason coverage or trip interruption for any reason coverage to RoundTrip plans. Although some other providers offer cancel for any reason coverage, trip interruption for any reason coverage is less common.
• Seven Corners' RoundTrip Choice policy offers a political or security evacuation benefit that will transport you to the nearest safe place or your residence under specific conditions. You can also add optional event ticket registration fee protection to the RoundTrip Choice policy.

Purchase your policy here: Seven Corners .

World Nomads

World Nomads is popular with younger, active travelers because of its flexibility and adventure-activities coverage on the Explorer plan. Unlike many policies offered by other providers, you don't need to estimate prepaid costs when purchasing the insurance to have access to trip interruption and cancellation insurance.

World Nomads offers two single-trip plans.

World Nomads has a page dedicated to coronavirus coverage , so be sure to view it before buying a policy.

World Nomads won't cover losses incurred because of a preexisting medical condition (except emergency evacuation and repatriation of remains) that existed within 90 days of the coverage effective date. Unlike many other providers, World Nomads doesn't offer a waiver.

• World Nomads' policies cover more adventure sports than most providers, so activities such as bungee jumping are included. The Explorer policy covers almost any adventure sport, including skydiving, stunt flying and caving. So, if you partake in adventure sports while traveling, the Explorer policy may be a good fit.
• World Nomads' policies provide nonmedical evacuation coverage for transportation expenses if there is civil or political unrest in the country you are visiting. The coverage may also transport you home if there is an eligible natural disaster or a government expels you.

Purchase your policy here: World Nomads .

Other options for buying travel insurance

This guide details the policies of eight providers with the information available at the time of publication. There are many options when it comes to travel insurance, though. To compare different policies quickly, you can use a travel insurance aggregator like InsureMyTrip to search. Just note that these search engines won't show every policy and every provider, and you should still research the provided policies to ensure the coverage fits your trip and needs.

You can also purchase a plan through various membership associations, such as USAA, AAA or Costco. Typically, these organizations partner with a specific provider, so if you are a member of any of these associations, you may want to compare the policies offered through the organization with other policies to get the best coverage for your trip.

Related: Should you get travel insurance if you have credit card protection?

Is travel insurance worth getting?

Whether you should purchase travel insurance is a personal decision. Suppose you use a credit card that provides travel insurance for most of your expenses and have medical insurance that provides adequate coverage abroad. In that case, you may be covered enough on most trips to forgo purchasing travel insurance.

However, suppose your medical insurance won't cover you at your destination and you can't comfortably cover a sizable medical evacuation bill or last-minute flight home . In that case, you should consider purchasing travel insurance. If you travel frequently, buying an annual multi-trip policy may be worth it.

What is the best COVID-19 travel insurance?

There are various aspects to keep in mind in the age of COVID-19. Consider booking travel plans that are fully refundable or have modest change or cancellation fees so you don't need to worry about whether your policy will cover trip cancellation. This is important since many standard comprehensive insurance policies won't reimburse your insured expenses in the event of cancellation if it's related to the fear of traveling due to COVID-19.

However, if you book a nonrefundable trip and want to maintain the ability to get reimbursed (up to 75% of your insured costs) if you choose to cancel, you should consider buying a comprehensive travel insurance policy and then adding optional cancel for any reason protection. Just note that this benefit is time-sensitive and has eligibility requirements, so not all travelers will qualify.

Providers will often require CFAR purchasers insure the entire dollar amount of their travels to receive the coverage. Also, many CFAR policies mandate that you must cancel your plans and notify all travel suppliers at least 48 hours before your scheduled departure.

Likewise, if your primary health insurance won't cover you while on your trip, it's essential to consider whether medical expenses related to COVID-19 treatment are covered. You may also want to consider a MedJet medical transport membership if your trip is to a covered destination for coronavirus-related evacuation.

Ultimately, the best pandemic travel insurance policy will depend on your trip details, travel concerns and your willingness to self-insure. Just be sure to thoroughly read and understand any terms or exclusions before purchasing.

What are the different types of travel insurance?

Whether you purchase a comprehensive travel insurance policy or rely on the protections offered by select credit cards, you may have access to the following types of coverage:

• Baggage delay protection may reimburse for essential items and clothing when a common carrier (such as an airline) fails to deliver your checked bag within a set time of your arrival at a destination. Typically, you may be reimbursed up to a particular amount per incident or per day.
• Lost/damaged baggage protection may provide reimbursement to replace lost or damaged luggage and items inside that luggage. However, valuables and electronics usually have a relatively low maximum benefit.
• Trip delay reimbursement may provide reimbursement for necessary items, food, lodging and sometimes transportation when you're delayed for a substantial time while traveling on a common carrier such as an airline. This insurance may be beneficial if weather issues (or other covered reasons for which the airline usually won't provide compensation) delay you.
• Trip cancellation and interruption protection may provide reimbursement if you need to cancel or interrupt your trip for a covered reason, such as a death in your family or jury duty.
• Medical evacuation insurance can arrange and pay for medical evacuation if deemed necessary by the insurance provider and a medical professional. This coverage can be particularly valuable if you're traveling to a region with subpar medical facilities.
• Travel accident insurance may provide a payment to you or your beneficiary in the case of your death or dismemberment.
• Emergency medical insurance may provide payment or reimburse you if you must seek medical care while traveling. Some plans only cover emergency medical care, but some also cover other types of medical care. You may need to pay a deductible or copay.
• Rental car coverage may provide a collision damage waiver when renting a car. This waiver may reimburse for collision damage or theft up to a set amount. Some policies also cover loss-of-use charges assessed by the rental company and towing charges to take the vehicle to the nearest qualified repair facility. You generally need to decline the rental company's collision damage waiver or similar provision to be covered.

Should I buy travel health insurance?

If you purchase travel with credit cards that provide various trip protections, you may not see much need for additional travel insurance. However, you may still wonder whether you should buy travel medical insurance.

If your primary health insurance covers you on your trip, you may not need travel health insurance. Your domestic policy may not cover you outside the U.S., though, so it's worth calling the number on your health insurance card if you have coverage questions. If your primary health insurance wouldn't cover you, it's likely worth purchasing travel medical insurance. After all, as you can see above, travel medical insurance is often very modestly priced.

How much does travel insurance cost?

Travel insurance costs depend on various factors, including the provider, the type of coverage, your trip cost, your destination, your age, your residency and how many travelers you want to insure. That said, a standard travel insurance plan will generally set you back somewhere between 4% and 10% of your total trip cost. However, this can get lower for more basic protections or become even higher if you include add-ons like cancel for any reason protection.

The best way to determine how much travel insurance will cost is to price out your trip with a few providers discussed in the guide. Or, visit an insurance aggregator like InsureMyTrip to quickly compare options across multiple providers.

When and how to get travel insurance

For the most robust selection of available travel insurance benefits — including time-sensitive add-ons like CFAR protection and waivers of preexisting conditions for eligible travelers — you should ideally purchase travel insurance on the same day you make your first payment toward your trip.

However, many plans may still offer a preexisting conditions waiver for those who qualify if you buy your travel insurance within 14 to 21 days of your first trip expense or deposit (this time frame may vary by provider). If you don't need a preexisting conditions waiver or aren't interested in CFAR coverage, you can purchase travel insurance once your departure date nears.

You must purchase coverage before it's needed. Some travel medical plans are available for purchase after you have departed, but comprehensive plans that include medical coverage must be purchased before departing.

Additionally, you can't buy any medical coverage once you require medical attention. The same applies to all travel insurance coverage. Once you recognize the need, it's too late to protect your trip.

Once you've shopped around and decided upon the best travel insurance plan for your trip, you should be able to complete your purchase online. You'll usually be able to download your insurance card and the complete policy shortly after the transaction is complete.

Related: 7 times your credit card's travel insurance might not cover you

Bottom line

Not all travel insurance policies and providers are equal. Before buying a plan, read and understand the policy documents. By doing so, you can choose a plan that's appropriate for you and your trip — including the features that matter most to you.

For example, if you plan to go skiing or rock climbing, make sure the policy you buy doesn't contain exclusions for these activities. Likewise, if you're making two back-to-back trips during which you'll be returning home for a short time in between, be sure the plan doesn't terminate coverage at the end of your first trip.

If you're looking to cover a sudden recurrence of a preexisting condition, select a policy with a preexisting condition waiver and fulfill the requirements for the waiver. After all, buying insurance won't help if your policy doesn't cover your losses.

Disclaimer : This information is provided by IMT Services, LLC ( InsureMyTrip.com ), a licensed insurance producer (NPN: 5119217) and a member of the Tokio Marine HCC group of companies. IMT's services are only available in states where it is licensed to do business and the products provided through InsureMyTrip.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not create or modify any insurance policy terms in any way. For more information, please visit www.insuremytrip.com .

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The Average Cost of Travel Insurance – Facts & Statistics [2023 Data Study]

Alex Miller

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4 Quick Statistics on Travel Insurance

What is travel insurance, types of travel insurance, what factors influence cost, how to pick a travel insurance plan, final thoughts.

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

As a result of the COVID-19 pandemic, Americans have changed the way they travel and the way they book their travel experience. Booking without travel insurance may have been something you did pre-COVID-19, but is not a risk many are willing to take now.

Booking a travel experience is an investment; you want to protect that investment by spending a little extra on travel insurance. With travel hitting pre-pandemic levels, there was a 235% increase in travel insurance claims in 2022 compared to the same period in 2019, according to Squaremouth , a travel insurance review site. 

Travel insurance will not only protect you from changes and cancellations before your trip but also from any unexpected incidents that could happen during your trip. This guide will walk you through everything you need to know about travel insurance , from prices to what impacts premiums, different types of policies, and how to find a carrier. 

• $303.58 was the average travel insurance premium between August 2022 and August 2023.¹
• Travel insurance typically costs 5% to 10% of your total trip cost.
• At age 35, the average premium for travel insurance sits at about $122. ²
• Travel insurance gets more expensive with age. The average cost for a 95-year-old is $415.²

You can think of travel insurance as a version of health insurance for your booked trip. Travel insurance is insurance meant to help protect you from things that could go wrong while traveling , such as lost luggage, flight delays that lead to missed connecting flights, and even illnesses. Some policies will even cover flight accidents, rental car coverage, and more. What your travel insurance covers will depend on the type of plan you buy and how much you want to spend. 

Travel insurance is not a one-size-fits-all plan. There are varying levels of insurance that will depend on many different factors. The 2 main travel insurance types are Comprehensive and Travel Medical Plans .

If you are traveling for a long period of time or to a place where you feel like you may need a more specialized plan, some insurers do offer plans that entail protections such as:

• Medical Evacuation: Medical evacuation insurance will cover the cost and coordination of emergency transportation to the nearest adequate treatment center if you become seriously ill or injured while traveling and require immediate care. It can also pay for you to be transported back to a hospital back in the U.S. 
• Accidental Death : Accidental death travel insurance plans are very similar to life insurance policies. When purchasing an accidental death insurance plan, you would name a beneficiary at the time of purchase, and in the event of your death while traveling, that person would receive the benefit. 
• Flight Accident Coverage: Flight accident insurance covers accidents that may happen when flying on a commercial flight, such as death and dismemberment. 

Talk to your travel insurance provider to confirm everything you want and need is covered by the plan you chose. It is also good to confirm in the fine print what is not covered.

Hot Tip: Our introductory guide to travel insurance covers policies, common exclusions, and more so that you can get the maximum benefit from it!

How Much Does Travel Insurance Cost?

Just like car insurance and health insurance, the cost of travel insurance will vary depending on multiple factors, and in general, you can plan to spend between 5% to 10% of the total trip cost for a comprehensive policy with trip cancellation.

An AdvisorSmith study of 50+ policies in late 2021 found that the  average cost of travel insurance in the U.S. was $95. The survey breaks down the average cost of travel insurance by the level of coverage your policy might fall into:

• Basic coverage — $93
• Middle-tier coverage — $111
• Comprehensive coverage — $137

However, a more recent study of Squaremouth  data observed later in the pandemic indicates that policy costs are rising. The average overall cost for a travel insurance premium purchased on Squaremouth between August 2022 and August 2023 was $303.58.

There are 5 main factors that will determine the cost of your travel insurance policy:

• Total trip cost
• Age of travelers
• Policy type
• Length of travel
• Total coverage amounts

When looking at the cost of travel insurance by age, you can see major shifts in the pricing. According to Value Penguin , the average cost of travel insurance from ages 1 to 30 hovers around $104 to $107 for the premium , but when you start to get above the age of 30 is where you have a spike in prices. At age 35, the average premium sits at about $122, but that price drastically increases for age 95, with an average premium of $415. 

So how do you know what the right plan is for you? Picking a travel insurance plan will depend on a few different factors and what you are looking to protect, but a few tips for picking a plan are below:

• Think about your main concerns when traveling. Getting hurt, losing luggage, or missing a flight? These will all help you pick a plan that is right for you.
• Think about the financial risk of your travels. If something happened, could you cover the cost?
• Check to see if any parts of your trip are refundable.
• Take a look at what kind of coverage your credit cards offer .
• Check what kind of coverage your health insurance has for traveling.
• Get quotes from multiple travel insurance providers to find the best rates.
• Read all disclosure statements before buying a policy.

Bottom Line: Learn how to find the best travel insurance policy for your situation in our ultimate guide to buying the best travel insurance .

With travel back in full swing and airlines struggling to keep up with demand , make sure to protect your trip with a travel insurance plan. Whether you are planning a weekend trip out of your home state, going on a beach vacation in Mexico, or backpacking around Europe, there is a travel insurance plan that will allow you to travel stress-free.  Read our guide to find some of the cheapest travel insurance policies currently available.

¹ Squaremouth. (n.d.) Live Travel Insurance Data. https://www.squaremouth.com/live-data?date_range=last_365_days ² Moon, C. Average Cost of Travel Insurance: by Policy, Age and Insurer. ValuePenguin. https://www.valuepenguin.com/travel-insurance/average-cost-travel-insurance#Average-Cost-of-Travel-Insurance . Retrieved October 4, 2023.

Frequently Asked Questions

Is travel insurance really worth it.

With the unpredictability of travel in 2022, investing in travel insurance is worth the extra money. Travel insurance could save you hundreds or even thousands on travel-related expenses.

What is not covered by travel insurance?

It is best to check with your provider on what is not covered by your plan. Typically, travel insurance plans do not cover things like a “change in mind” about traveling, lost tickets, weather that limits activities, etc.

How much should I plan to spend on travel insurance?

Travel insurance will cost about 5% to 10% of your total trip cost. Price will vary depending on things like age, length of trip, and total cost of trip.

Will my travel insurance cover COVID-19?

It is always best to check with your insurance provider, but most standard travel insurance plans will cover trip cancellation due to sickness. What it will not cover is the “fear” of traveling because of COVID-19.

Find out more with our guide to Travel Insurance With COVID-19 Coverage .

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Travel Insurance

Average cost of travel insurance in 2024

Heidi Gollub

Megan Horner

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Updated 4:18 a.m. UTC April 1, 2024

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• Travel insurance costs an average of 5% to 6% of the cost of your trip. 
• Your travel destination and your age impact the cost of travel insurance. 
• Senior travelers need to budget extra for travel insurance as they pay a higher percentage of their trip cost — an average of 18% for 80-year-olds.

There are several factors that influence how much you’ll pay for travel insurance, from your age and travel destination to the cost of your trip and the coverages you choose. Our insurance experts analyzed rates from the best travel insurance companies, and we’ve used that data to break down the average cost of travel insurance for you.   

Compare travel insurance costs personalized for your trip

Travel insured.

Via TravelInsurance.com’s website

Top-scoring plan

Worldwide Trip Protector

Covers COVID?

Medical & evacuation limits per person

$100,000/$1 million

Atlas Journey Preferred

Seven Corners

RoundTrip Basic

$500,000/$1 million

How much is travel insurance?

The average cost of travel insurance is 5% to 6% of your nonrefundable trip expenses. To insure a $1,000 trip, for instance, costs an average of $61 (6%). 

Average cost of travel insurance by trip cost 

Average cost of travel insurance is based on quotes for a 30-year-old female traveling from California to Mexico for a 14-day trip. Source: Squaremouth.

Average cost of travel insurance by age

While the cost of your trip is a key factor in how much you’ll pay for travel insurance, your age can also impact your rate. This is particularly true for travelers over 60. The average cost of travel insurance for a 70-year-old increases to 11% of total trip cost, and 80-year-old travelers pay an average of 18% for a senior travel insurance policy. 

Average cost of travel insurance by number of travelers in your group

If you’re traveling with others, it’s typically cheaper to insure everyone in your group with a single travel insurance policy. Some plans even cover kids younger than 17 for free, as long as they’re traveling with their parents on the same itinerary. 

In our analysis of travel insurance rates, we found that a family of four taking a 14-day trip from California to Mexico valued at $5,000 only pays about $29 more than a solo traveler buying travel insurance for the same trip. A couple, both age 40, will pay an average of $17 more than a single traveler of the same age. 

What determines travel insurance costs?

One of the biggest factors to influence the cost of travel insurance is the travel insurance plan you select. The best travel insurance plans bundle several types of insurance, including coverage for trip cancellation, trip delay, trip interruption, travel medical, emergency medical evacuation and baggage loss and delay. The more comprehensive the plan, the more you’ll pay for travel insurance. 

The coverage limits of your policy will also affect its cost. The limits dictate how much you’ll be reimbursed if you use your insurance. All of the 5-star plans in our best travel insurance rating offer medical reimbursement limits of $1 million. The higher the reimbursement limit, the more expensive your coverage will be. 

Sample rates for different travel insurance plans

Average cost of travel insurance is based on quotes for a 30-year-old female traveling from California to Mexico for a 14-day trip. Different levels of benefits can account for price differences. These rates do not include a “cancel for any reason” upgrade. Source: Squaremouth.

Average travel insurance cost for “cancel for any reason”coverage

Based on our analysis of 16 travel insurance policies, adding CFAR coverage to a travel insurance policy will increase your cost by about 50%. 

If you want to be able to cancel your trip for any reason — not just those listed in your policy — consider buying a travel insurance plan that offers “cancel for any reason” (CFAR) coverage .

“In 2023, the travel industry has faced a number of challenges including a rise in inclement weather, staffing shortages and strikes,” said Rajeev Shrivastava, CEO of VisitorsCoverage. “Consequently, we’re seeing an increase of canceled trips, disrupted flights and stranded travelers.” 

“To prepare for these uncertainties,” said Shrivastava, “travelers should consider choosing flexible insurance coverage options like ‘cancel for any reason’ and ‘interruption for any reason,’ which protect trip investments in case of cancellations or disruptions.”

“Interruption for any reason” (IFAR) coverage isn’t as readily available as an upgrade, but it typically adds only 3% to 10% to the cost of your travel insurance.

Travel insurance costs for your vacation

What travel insurance covers.

“Travel insurance provides coverage for prepaid, nonrefundable trip expenses — up to the limits of the policy — should a trip be canceled or interrupted for a covered reason,” said Daniel Durazo, director of external communications at Allianz Partners USA. 

The trip cancellation insurance part of your travel insurance can reimburse up to 100% for lost trip deposits, such as airline tickets, hotel rooms, rental cars, tours and cruises, if you cancel your trip for a reason listed in your policy.

“Examples of acceptable reasons to cancel a trip include illness or injury for the traveler, a close family member or a traveling companion,” said Durazo. “Other reasons may include your travel supplier stops offering services for 24 hours due to a natural disaster, severe weather or a strike, your home or destination becomes uninhabitable, or you or a travel companion are laid off after you purchase your policy.”

Once you start your trip, travel insurance continues to offer financial protection, said Durazo. “Post-departure benefits can help cover expenses like lost bags and travel delays and most importantly, can include emergency medical coverage and emergency medical transportation.” 

If you do become ill or injured while traveling, travel insurance can cover your medical costs including doctors’ fees and hospital costs that may not be covered by your health insurance. “Domestic health care plans are usually not accepted outside the U.S.,” Durazo said. “So it’s especially important to get travel insurance with medical coverage and emergency medical transportation when traveling internationally.” 

Even if you’re not traveling out of the country, travel insurance with medical coverage can be a good idea, Durazo said. “As many Americans now have high deductible health insurance plans, trips to urgent care or the ER can be expensive but could be covered by travel insurance while traveling.” 

Methodology

Using data from Squaremouth, a travel insurance comparison website, our insurance experts analyzed rates for 23 travel insurance plans. The average rates were determined by comparing quotes for trips with a variety of costs, traveler ages, traveler groups and travel plan benefits.

Travel insurance costs FAQs

The average cost of travel insurance is between 5% and 6% of the cost of the trip. How much you pay for travel insurance will depend on the travel insurance company and plan you select, the total cost and destination of your trip, the age of travelers and the number of travelers you’re insuring. 

You may wonder: Is travel insurance worth it?  

A comprehensive travel insurance plan will include coverage for trip cancellation, trip interruption, trip delay, medical expense, emergency medical evacuation and baggage delay and loss. 

Read your travel insurance policy carefully to understand what is covered and what is excluded. You can sometimes purchase add ons such as “cancel for any reason” (CFAR) coverage. 

Do you need trip insurance? What travel insurance covers

Yes, travel insurance is typically more expensive for older travelers. While the average cost of travel insurance for a 20-year-old traveler is $224, the average cost increases at age 60 to $420 and to $907 for an 80-year-old. 

Find the best coverage: Best senior travel insurance companies

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Heidi Gollub is the USA TODAY Blueprint managing editor of insurance. She was previously lead editor of insurance at Forbes Advisor and led the insurance team at U.S. News & World Report as assistant managing editor of 360 Reviews. Heidi has an MBA from Emporia State University and is a licensed property and casualty insurance expert.

Megan Horner is editorial director at USA TODAY Blueprint. She has over 10 years of experience in online publishing, mostly focused on credit cards and banking. Previously, she was the head of publishing at Finder.com where she led the team to publish personal finance content on credit cards, banking, loans, mortgages and more. Prior to that, she was an editor at Credit Karma. Megan has been featured in CreditCards.com, American Banker, Lifehacker and news broadcasts across the country. She has a bachelor’s degree in English and editing.

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Average Travel Insurance Cost

Take a look at our deep dive into the average cost of travel insurance in the U.S.

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The average cost of travel insurance in the U.S. is $95 , based on an AdvisorSmith study of over 50 travel insurance policies. This coverage is becoming more and more popular in the U.S., particularly as the pandemic disrupted travel plans in 2020, forcing many consumers to cancel or postpone planned trips. As travel ramps back up, Americans are more interested in protecting their travel plans, spurring high demand for travel insurance.

Get a quote on Travel Insurance

Average cost of travel insurance.

Travel insurance premiums vary widely depending on a number of factors, including the cost of the trip, number of travelers, traveler age, mode of travel, and more. In our study of more than 50 travel insurance policies, we found the average cost of travel insurance in the U.S. to be $95 for a one-week international trip. Prices did vary widely, however, depending on the insurer, and our analysis showed premiums ranging from a low of $39 to a high of $210.

In order to better understand how different variables—including the number of travelers, traveler age, trip cost, and coverage level—impact the premiums you end up paying, we conducted a study using quote estimates from a variety of insurers. We used a sample traveler profile for our study, which was a 30-year-old male traveler residing in California and traveling to the United Kingdom for a one-week trip with a total cost of $2,500. 

Average Cost of Travel Insurance by Trip Cost

The total cost of your trip will be a main driver in determining the price of your travel insurance premiums. The higher the cost of your trip, the more you’re likely to pay in premiums as any claims you’ll file will have a higher chance of being costlier than for a lower-priced trip. 

In our analysis, we found that premiums generally fell between 4% and 5% of the total cost of your trip. Below you’ll find the average premiums broken down by the total cost of the trip.

Average Cost of Travel Insurance by Age

Depending on your age and the ages of those traveling with you, your insurance premiums can vary widely. Generally, younger travelers can expect to pay less, while older travelers can expect to pay more, with travelers over the age of 60 seeing large jumps in cost. This can be attributed in part to the fact that older travelers are at higher risk of becoming injured or ill on a trip.

In our analysis, we found average prices differed from a low of $92 for a young child to a high of $805 for a centenarian. Below you’ll find average costs broken down by age.

Average Cost of Travel Insurance by Number of Travelers

The number of travelers on your trip also plays a large role in the pricing of travel insurance. As you can expect, the more people on your trip, the higher the risk. And if you have older travelers with you on your trip, your premiums will likely be higher. If you are a group of young, healthy travelers, it’s likely your premiums will be lower.

Below you’ll find our analysis of the average cost of travel insurance for travelers of varying group sizes.

Average Cost of Travel Insurance by Coverage Level

Travel insurance plans offer different bells and whistles depending on the insurer and on the particular plan you select. Some plans are more comprehensive than others, and as expected, more comprehensive plans will cost more. Generally, insurers will offer a few types of plan packages, in addition to various add-ons you can add to supplement your coverage.

Below is a breakdown of the average cost of travel insurance by coverage level. We took a look at basic, mid-level, and full coverage offerings. While the plans varied depending on the insurer, they primarily differed by sublimits and covered risks.

What’s covered by travel insurance and what’s not?

Travel insurance coverage differs significantly depending on the insurer and the particular coverage you purchase. Each insurer has a variety of options and endorsements that you can add to your policy and packages the policies differently, so when shopping for travel insurance, you’ll need to closely examine exactly what the insurer is offering. 

Generally, travel insurance offers coverage for the following:

• Trip cancellations or interruptions
• Travel delays or flight cancellations
• Lost, stolen, damaged, or delayed baggage
• Medical expenses
• Emergency medical evacuation
• Rental car coverage
• Hotel or cruise ship protection

In terms of exclusions, travel insurance typically does not cover pre-existing health conditions and activities that are deemed risky. 

More recently, many travelers have been wondering if travel insurance covers COVID-19. Most travel policies won’t provide coverage for trip cancellation due to fear of travel or if your trip is canceled due to a government body, health authority, or travel supplier restricting or canceling travel due to COVID-19. However, if you fall ill due to COVID-19 prior to your departure, many insurers will cover trip cancellation. Additionally, if you contract COVID-19 on your trip, most insurers treat this as any other illness, offering medical and emergency coverage. 

What determines the cost of travel insurance?

Travel insurance pricing can vary widely depending on a number of variables. Your best bet is to understand the type and level of coverage you’re looking for and gather quotes from a variety of insurers. To better understand what impacts the premium you’re quoted, the following are a few factors that affect travel insurance cost:

• Trip cost. The more your trip costs, the more it will cost to insure, given that your claims are likely to be costlier for a more expensive trip.
• Coverage limits. As with other types of insurance, the higher your limits, the higher your premiums will be, as the insurer has a higher chance of paying out more for a given claim.
• Deductible. The deductible amount is what you’ll need to pay out-of-pocket on a claim before the insurer starts to provide coverage. Generally, the higher the deductible you choose, the lower your premium will be.
• Coverage options. Many insurers offer a bevy of add-on options, including cancel for any reason (CFAR) coverage, rental car coverage, and more. Premiums will increase as you add on more options.
• Traveler age. The older the traveler, the higher the cost of travel insurance. This is to account for the fact that older travelers are at higher risk of becoming ill or injured on a trip.
• Number of travelers. The more travelers on your trip, the higher the cost to insure. 
• Length of trip. The longer your trip, the higher your premiums will be. Longer trips mean a higher chance for a claim.

Methodology

AdvisorSmith used quote estimates from 53 different travel insurance policies in order to determine average costs for travel insurance. Quote estimates also made use of various sample traveler profiles.

For the main sample traveler profile, we used a 30-year-old male traveler in good health, planning to travel by direct flight to the United Kingdom from California on a 1-week vacation. In order to determine how other variables factored into premium costs, we used multiple traveler profiles that varied by age, number of total travelers, and trip cost.

Expert Commentary

AdvisorSmith spoke with the following experts to provide critical insight on the state of travel insurance.

Ralph Hoffman

• Associate Professor of Marketing
• Gwynedd Mercy University

Aniruddha Pangarkar

• Assistant Professor of Marketing
• University of Wisconsin-Green Bay

Elaine Luther

• Professor of Business Management
• Point Park University

More Experts

Q. what, if any, long-term impact will the pandemic have on the travel insurance market.

Ralph: The CDC continues to change travel rules, so it is difficult to say what long-term impact the pandemic will have. However, I would think that travelers will be more in tune to find travel insurance coverage that protects them from such events in the future.

A pandemic can create huge payouts for interrupted travel, so the cost to the consumer of such insurance will likely increase as demand goes up. It is going to require the consumer to be very diligent when comparing policies to see what is covered. Consumers are also going to need to compare what percentage of reimbursement is covered by different plans.

Aniruddha: When the COVID-19 pandemic, which started almost 16-18 months ago, was raging and at its absolute worst, there were travel restrictions, and fewer Americans traveled due to fear of contracting the virus. In the last 3-4 months, with many Americans undergoing full vaccination, the situation has somewhat changed, and with almost a year of work from home/social distancing norms, there are many who want to be adventurous and are willing to travel.

What this means is that travel insurance for a trip assumes great importance and travelers are very vigilant about this. This is because travelers want to protect themselves in case there is one more wave of COVID in the United States, or if the countries they are traveling to are experiencing a sudden surge in cases.

One has to also keep in mind that when the pandemic suddenly started, many travelers had to abandon or cancel travel plans at the last minute because they had not taken travel insurance, and without such coverage, they were hit hard. There is a significant financial impact that can be felt without travel insurance coverage, especially if it’s a family that is traveling. That is why travel insurance has become a must-have and necessity in today’s COVID-impacted world.

Travel insurance companies recognize this and have built in provisions, such as “Cancel for Any Reason” (CFAR) for travelers. The travel insurance industry that was adversely impacted by the pandemic in 2020 is slowly recovering and creating innovative new products like CFAR. If travelers take CFAR, they can cancel a trip because of COVID-related illness, quarantine requirements, boarding problems, or a surge of cases in the country they are visiting, etc.

Also, many foreign countries such as Thailand, Jordan, Aruba, etc., require COVID coverage for visitors. Despite the add-on cost, CFAR upgrade has become popular with travelers, but a word of caution—it is important to read the fine print, be aware of exactly what features your insurance is covering/what your coverage will pay for, and more importantly, when in doubt, ask questions to the travel insurance company.

Elaine: The pandemic has resulted in heightened awareness by consumers of what types of risks are related to travel, including medical risks. As a result, the purchase of travel insurance might become a standard cost budgeted by consumers when planning a trip.

In addition, the pandemic has highlighted the types of risks that will be related to travel going forward, including new ones such as unanticipated travel restrictions imposed by countries, or new health-related events.

Q. What are the driving factors behind consumers purchasing travel insurance, and has that changed because of the pandemic?

Ralph: The cost of travel can be very high, depending on the venue. Younger people have a much more global perspective and travel at greater rates than generations in the past. Younger consumers, given their income stage, may be more likely to want to pick up travel insurance to protect the money they are spending.

It would seem that the greatest driving factor behind consumers purchasing travel insurance will be affordability. It may be the case that travelers of any age who have not purchased insurance in the past might be more inclined to do so in the future.

The added insurance cost might result in consumers shortening their travel dates to cover the additional expense. Another consequence might be that consumers spread out the time between travel plans due to the increased cost. Such decisions will be based on what insurers end up charging.

The pandemic would likely also impact what destinations people are considering when making travel plans in the future. Travel destinations that are in pandemic hotspots may be uninsurable or may bring a hefty insurance cost. This would likely impact the travel industry as consumers look for destinations that are less risky and thus may carry lower travel insurance costs. This could certainly have a negative economic impact on some hotspot countries that rely heavily on tourism.

Aniruddha: The pandemic has definitely impacted the lucrative travel business because lots of travelers were unwilling to take the risks of traveling due to the fact that almost all countries were experiencing a major surge. Social distancing norms and gradual information about the virus (which was still new and did not have any precedent) unfolding left many travelers confused. For example, the notion that older people and young children are more at risk from the COVID-19 virus resulted in several families canceling travel plans in 2020.

Travel insurance has always been considered a safe way to hedge your bets and maintain flexibility against any kind of uncertainties, and against the backdrop of the uncertainty caused by the COVID-19 pandemic, it becomes supremely important. With several Americans having gone through vaccination, and with the advent of summer and school vacations, many consumers want to travel. But even then, there is always the fear of another pandemic wave either within the U.S. or while traveling internationally. In such a situation, travel insurance that allows for cancellations, partial refunds, illness, hospitalization, quarantine, etc., is very important. Therefore, consumers are purchasing travel insurance, which is an important consideration during these testing times.

Elaine: Consumers still want to travel. In fact, indications are that there is quite a bit of pent-up demand for vacation travel. However, consumers might also have different risk factors that might make them more fearful about traveling during uncertain times. As a result, if they can purchase insurance that allows them to have flexibility and to avoid financial risk, they might feel more comfortable about making travel plans.

Q. What are the main insurability challenges that travel insurers face in a post-COVID world?

Ralph: It is my understanding that a pandemic is not always a covered event in some travel insurance policies. Potentially huge payouts by insurance companies will drive insurance costs up if demand for such coverage remains high. Because of this, we may see more competition between insurers trying to entice consumers to carry their insurance, and such competition may control price escalation to some degree.

No matter what the result, consumers will need to spend more time educating themselves and comparing plans to make sure they find the right policy that meets their needs.

Aniruddha: First, let us take a look at some of the challenges that consumers face in the post-COVID world because these are interrelated with challenges faced by travel insurance companies. Consumer challenges are regarding when to purchase travel insurance. With the devastating rates at which the COVID virus infects entire countries, there is considerable risk in planning your travel too far in advance. On the other hand, if travelers plan a trip on short notice, then there is the possibility that they will be unable to cancel the trip or not have the same flexibility offered if they purchase earlier (because of conditions built around the coverage).

The CFAR that many companies are offering is a good option but needs careful review of the fine print involved, which can be cumbersome and slightly complex, especially for first-time travelers. Along with this, there are other issues for consumers, such as COVID-testing costs (mandated by certain countries, if international travel is involved), quarantine costs, hospitalization costs, death and funeral costs, evacuation costs, etc. This can be pretty intimidating even for experienced travelers. Travelers are also flustered by reading all the fine print of what is covered and what is not.

Based on these consumer challenges, what are the challenges that a travel insurance company can likely face? First, how can companies optimize service processes because of heightened travel demand and consumer questions focused around travel; second, how can travel insurance companies introduce innovative new products that are a win-win for both the company and the traveler; third, how can travel insurance companies conduct market research to understand consumer concerns and needs; and fourth, how can travel insurance companies streamline processes and work with third-party partners/vendors when their travelers are stranded due to COVID-19 restrictions in a foreign country/or need emergency medical services/hospitalization? Therefore, to sum it up, it is important for travel insurance companies to work with consumers, co-create value, provide unparalleled service, and ease concerns through transparency and clear communication.

Elaine: Because consumers are now more knowledgeable about travel-related risks, they will be more demanding when shopping for travel insurance policies. Insurers will have to be agile enough to modify their policies and coverage in response to those increased demands.

In addition, there are new risks that were probably not factors in the past. Normal activities, like rerouting planes due to weather conditions, might result in significant issues, if the planes land in countries that won’t admit certain passengers, based on where they live or if they are vaccinated. Insurers will need to develop policies and levels of coverage for those events.

And currently, medical travel insurance is separate from travel insurance. Perhaps Insurers will begin to package these coverages. Or they might develop à la carte pricing for different types of add-on coverage. They might also consider partnering with airlines or other travel-related businesses, in order to share travel risks.

If handled properly, travel insurance coverage could be modified to address the concerns of consumers, while improving the profits of insurers.

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Next time you’re booking travel, it may be tempting to skip purchasing a travel insurance policy to cut corners and save some money. But saving a little now could actually end up costing you more later — if you lose your baggage, need to cancel your trip, or encounter unexpected medical costs while traveling.

According to Bankrate’s 2022 Travel Woes survey , “79% of travelers who have taken an overnight trip outside their local area this year experienced at least one travel-related issue.” Having travel insurance in place can keep these minor issues from turning into major, trip-ruining disasters.

What is travel insurance?

Travel insurance is a type of insurance policy that protects any money spent on domestic or international travel. Many travel agencies and airlines offer travel insurance as an add-on to your booking, although you can also seek out your own policy on any travel you book yourself.

Types of travel insurance

A few of the different types of travel insurance you may want to consider include:

• Damage to personal property or rental cars
• Trip cancellation
• Lost baggage
• Coverage for medical expenses abroad
• Accidental death or flight accident coverage

The cost of these policies varies based on the type of travel insurance you purchase, as well as the value of your trip and your personal risk factors. The amount of coverage you elect can also affect your rates. Where policies have different tier plans available, you’ll generally pay more for higher levels of coverage.

You may be able to get your next trip covered through your credit card perks. Some credit cards, particularly the best travel cards , offer travel insurance and discounts, with higher-fee cards typically offering higher levels of coverage. If you’re a frequent traveler, it could be in your best interest to read the fine print on your credit card to see if you can take advantage of any of these benefits.

How much is travel insurance?

The amount you’ll pay for travel insurance will depend on a few different factors such as your age (travel insurance prices tend to increase the older you get), the number of travelers you’ll need to insure and the length of your overall trip. Still, experts say you can expect to shell out anywhere from 4 to 11 percent of the total cost of your trip on your travel insurance policy.

Travel insurance policies generally fall into one of three tiers: basic, middle-tier, and comprehensive coverage.

Insurance policy tiers

Average cost of travel insurance by age.

Travel insurance providers evaluate risk in the same way traditional insurers do when it comes to their premiums. The older a traveler is, the more they can expect to pay for coverage, as older travelers are more likely to become ill or injured on a trip. For example, a 2021 analysis conducted by AdvisorSmith found that average prices differed from a low of $92 for a young child to a high of $805 for a centenarian.

Here’s a breakdown of the average cost of travel insurance by age.

While higher costs are more common among older travelers, affordable policies can still be found. Shopping around and comparing quotes from different providers is key to finding the right level of coverage at the right price point.

Average cost of travel insurance by trip cost

The total length of your trip can also directly impact the amount you can expect to pay for travel insurance. A two-week trip will likely cost you more than a weekend getaway, and the higher the overall trip cost, the higher the premium will be in most cases.

According to data from AdvisorSmith, average premiums range from $50 for a trip that costs $1,000 to $447 for a $10,000 trip.

Average cost of travel insurance by number of travelers

One factor you should take into consideration when planning your trip and selecting a travel insurance policy is the number of travelers in your group. The more people you’ll be traveling with, the higher your premium will likely be, because there’s a greater risk of your insurer having to cover unexpected costs. This is especially true for older groups who also have an increased likelihood of incurring medical expenses during a trip.

Per AdvisorSmith, a single adult traveling alone can expect to pay an average of $111, while a party traveling with two adults and two children will pay closer to an average of $167.

2023 travel insurance outlook

With the COVID-19 pandemic restrictions largely behind us, travel has surged since the second half of 2022. And with that surge has come higher prices for nearly all kinds of travel reservations, on top of the high inflation being experienced in the rest of the economy.

While inflation is beginning to cool , consumers are likely to continue feeling its sting for the foreseeable future. In fact, Bankrate’s 2023 survey on summer travel found that nearly two-thirds (62 percent) of those who say they can’t afford a vacation this year cite inflation or rising prices as a primary concern.

These higher travel costs are yet another reason the purchase of travel insurance remains popular, as travelers increasingly see the value of insuring their larger investments into more expensive trips.

Why do I need travel insurance?

Is travel insurance worth it, how do i buy travel insurance, what does travel insurance cover.

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How Much Does Travel Insurance Cost?

Average costs and how travel insurance premiums are set

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Travel insurance can protect your financial investment in a trip by offering reimbursement if your travel plans are canceled or interrupted due to covered reasons, as well as providing emergency medical care and other benefits. Generally speaking, you can expect travel insurance to cost between 4% and 10% of your total prepaid, non-refundable trip cost. Younger travelers will usually pay less for comparable coverage than older travelers. Benefits also vary by plan, and you’ll pay more for comprehensive coverage with higher limits. 

We’ll cover the cost of travel insurance from six popular companies, the factors influencing the cost of travel insurance, and the best companies to consider. 

Compare travel insurance quotes on TravelInsurance.com .

The cost of travel insurance varies based on your age, trip cost, and the company and plan you select. To give you an idea of what you might pay for a travel insurance plan, we collected quotes for two ages and trip costs for an eight-day trip to Costa Rica booked the day of the query and departing from Florida in three months. Quotes are per traveler and do not include optional upgrades. 

Emergency medical coverage in a travel insurance policy is often secondary to your primary health insurance. This means you must first file a claim with your primary insurance company to determine how much your travel insurance policy will cover.

Other Companies to Consider

• InsureMyTrip
• World Nomads
• GeoBlue (medical only)

Factors Influencing Travel Insurance Costs

When purchasing travel insurance, your trip length may impact which policies you can get, and the timing of your purchase might impact whether pre-existing medical conditions are covered—but these factors don’t typically impact your premium. Your destination also doesn’t influence your premium. Costa Rica travel insurance will cost the same as travel insurance for a trip to Europe, provided all other factors are equal. Instead, the cost of travel insurance is based on the following factors. 

Travel insurance is more expensive for people who are older, since they’re at a greater risk of having medical problems. Travel insurance companies charge a higher premium to account for that risk. However, even if you’re traveling in retirement, you probably can find low-cost travel insurance that meets your needs. 

Premiums are also calculated based on your total trip cost. Since it costs more to reimburse a $10,000 canceled trip than a $1,000 trip, insurance companies charge higher premiums for more expensive trips. 

The higher your coverage limits and the more benefits you add (e.g., cancel for any reason , adventure sports coverage, pet medical), the more expensive your premium will be. Companies often present a selection of plans at different tiers or benefit levels. 

Top Travel Insurance Companies

• Travelex : Travelex offers plans with trip interruption coverage of up to 150% and emergency evacuation coverage of up to $500,000. Optional upgrades include adventure sports coverage, cancel-for-any-reason coverage , pet medical, pet return, and additional medical coverage of $50,000 for medical expenses and $500,000 of medical evacuation coverage. Travelex policies are underwritten by two reliable companies, Berkshire Hathaway and Zurich Insurance Group, which earn an A++ (Superior) and A+ (Superior) AM Best financial strength rating, respectively.
• Allianz Travel Insurance : Allianz offers a variety of single and multi-trip plans, and you can opt to buy medical coverage or travel cancellation coverage separately. The company offers high coverage limits, and most plans include epidemic coverage for COVID-19. Cancel anytime coverage and rental car coverage are available as optional upgrades. Also, the two underwriters for Allianz, Jefferson Insurance Company and BCS Insurance Company, earned financial strength ratings of A+ (Superior) and A- (Excellent) from AM Best.
• HTH Travel Insurance : HTH offers short and long-term medical plans along with full trip protection plans. Plans offer high medical coverage limits, with at least $75,000 in emergency medical coverage, and reimburse up to 200% of the trip cost due to interruption. All plans also include at least $500 in trip-delay coverage and $250 in missed-connection coverage. Plans are underwritten by Nationwide, which has an A+ (Superior) financial strength rating from AM Best. Also, more than 90% of customers on travel insurance marketplace InsureMyTrip recommend the coverage.  
• Nationwide : Nationwide offers single- and multi-trip plans along with a package designed for cruises. Plans are comprehensive, covering at least $75,000 in emergency medical and reimbursement for up to 200% of the trip cost due to interruption, depending on the plan. Accidental death and dismemberment (AD&D) and rental car coverage are available as add-ons, and COVID-19 diagnosis may be covered as part of your trip-cancellation coverage. Nationwide has an A+ (Superior) financial strength rating with AM Best. 
• Seven Corners : Seven Corners’ offerings include travel medical, trip insurance, and annual plans. Trip insurance plans offer at least $100,000 in emergency medical coverage, but the basic plan doesn’t cover pre-existing conditions. Add-ons include rental car coverage and optional cancel-for-any-reason and interrupt-for-any-reason coverage. COVID-19 diagnoses are treated the same as other illnesses that trigger coverage. Trip interruption and cancellation policies are underwritten by United States Fire Insurance (USFI), which has an A (Excellent) financial strength rating from AM Best. Travel medical policies are underwritten by USFI if you live in Colorado, Maryland, New York, and South Dakota, and either Lloyd’s of London or Crum & Forster SPC if you live in other states.
• Travel Guard by AIG : Travel Guard offers some of the cheapest premiums we could find, especially for young people, but medical limits on the basic plan may not be sufficient. COVID-19 is treated like other illnesses under the plan. The company offers few upgrades, but rental car coverage is available. AIG has an A (Excellent) financial strength rating with AM Best.

How To Save Money on Travel Insurance Costs

• Don’t pay for coverage you don’t need : Check what’s covered by your credit card, health insurance, homeowners insurance, and, in some cases, car insurance, and try to get a policy that fills in the gaps.
• Compare premiums across companies : While the cheapest plan isn’t necessarily the best, some companies may offer better rates than others for the same coverage. For example, some companies are more affordable for older travelers. It’s a good idea to compare quotes for the coverage you need. 
• Consider an annual plan : If you travel frequently, you may save money by purchasing an annual plan. But you should compare a plan’s benefits and make sure you’re getting more bang for your buck vs. a trip-based plan. Also, keep in mind that annual plans may not be available in all states. 
• Avoid cancel-for-any-reason coverage if possible : You might think you can rest easier with cancel-for-any-reason coverage, but these policies typically cost significantly more and often provide inferior coverage. You should avoid this coverage type unless it’s necessary for your trip. 

How To Choose the Best Travel Insurance

Decide which coverage types are important to you.

Travel insurance is a package of coverages that may include some or all of the following:

• Travel cancellation and interruption : Provides reimbursement if your trip is canceled or interrupted for certain reasons, like an injury or unforeseen natural disaster
• Travel medical coverage : Provides temporary health insurance if you become sick or injured while traveling
• Emergency medical evacuation : Pays to evacuate you to the closest adequate medical facility if necessary
• Accidental death & dismemberment : Pays a sum to you if you lose a limb or to your beneficiaries if you die in an accident
• Baggage loss or damage : Reimburses you for lost or damaged baggage and personal items
• Cancel-for-any-reason coverage : Allows you to cancel in any circumstance and receive partial reimbursement, but it’s more costly. 

Some travel insurance packages may also include extras like car rental coverage, baggage delay, pet medical, and missed connection coverage. Most travel insurance plans also include some form of travel assistance. Decide which coverages you want, then check to see what’s already covered by your credit card and your existing insurance policies before purchasing a travel insurance plan. 

Evaluate Company Ratings

In the process of comparing companies, you’ll want to consider more than just the price of the policy and the coverage offered. You should also check that the insurer has an A- (Excellent) financial strength grade or better from AM Best , and evaluate customer reviews from third-party companies like TrustPilot, ConsumerAffairs, and the BBB. 

Compare Premiums

Depending on your age and trip cost, some travel insurance companies may offer a lower premium than others. That’s why it’s important to compare quotes. You can collect quotes directly from each insurance company’s website, or you can use an insurance aggregator site that allows you to view quotes from a handful of companies with just one application. 

Review Policy Limits and Exclusions

When comparing premiums, look at the policy details and compare limits and exclusions. For example, some insurance companies won’t reimburse you if your trip is delayed, and some may exclude coverage for pre-existing conditions. Additionally, medical coverage may exclude injuries from certain activities, like scuba diving. 

Consider Endorsements

Some insurers offer commonly excluded coverages as endorsements to your travel insurance plan for an additional premium or as an included feature in certain packages. Pay attention to what’s available if you’re looking for an extra layer of protection. For example, while travel insurance plans commonly exclude pandemics and epidemics, most plans from Allianz include an epidemic coverage endorsement that will cover cancellation, interruption, medical care, and more in the event of a COVID-19 diagnosis. 

Buy As Soon As Possible

To get coverage for pre-existing conditions, you typically need to buy travel insurance soon after purchasing your trip or making a deposit on the trip. Furthermore, travel insurance typically only provides coverage for unforeseen circumstances, so if you wait until a weather event has been announced to buy coverage, that weather event may not be covered. The sooner you buy travel insurance after purchasing your trip, the fewer exclusions you’ll have to worry about. 

What Is Travel Insurance?

The term “travel insurance” typically refers to a package of coverages that helps protect against a variety of things that can go wrong before and during your trip. The best travel insurance will reimburse you for the total cost of your trip if it gets canceled or interrupted for certain reasons, like an injury or the death of a family member. It also provides temporary major medical coverage and emergency evacuation coverage should you become injured or ill while traveling. Many plans also offer additional benefits or optional endorsements, such as cancel-for-any-reason coverage.

Is Travel Insurance Worth It?

It’s up to you. You’ll need to weigh the risks of forgoing travel insurance against the cost of a policy. You may have sufficient coverage from a travel credit card or other insurance policies that make travel insurance coverage unnecessary. However, if you’ve purchased an expensive vacation that’s nonrefundable, or if your health insurance plan won’t cover you where you’re traveling, then travel insurance is likely worth it.

How to Get Travel Insurance

If you’re looking to buy travel insurance , a good place to start is with company reviews. Then get travel insurance quotes to compare costs and coverage. Almost all travel insurance companies allow you to buy coverage instantly online, and it’s best to pay for the coverage as soon as possible after you book your trip.

What Does Travel Insurance Cover?

While coverages vary from one plan to the next, most travel insurance policies cover trip cancellation and interruption, short-term major medical coverage, emergency evacuation, and lost or damaged baggage. Most also offer additional benefits, such as cancel-for-any-reason coverage , pet medical, and adventure sports coverage.

InsureMyTrip. “ How Much Does Travel Insurance Cost? ”

Insuremytrip. “ Travel Insurance Reviews HTH Worldwide .”

DC Department of Insurance, Securities, and Banking. “ Taking a Trip? Information About Travel Insurance You Should Know Before You Hit the Road .”

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Is travel insurance worth it?

The right policy can protect your wallet, your belongings and your peace of mind..

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

You might have planned your next vacation, but consider travel insurance before you start packing. A comprehensive policy can protect you if the unexpected happens before or during your trip.

"Travel insurance is often an overlooked investment until the unforeseen happens," says Beth Godlin, president of Aon Affinity Travel Practice . "It's designed to give travelers peace of mind and financial protection against travel risks."

A policy doesn't have to be expensive, according to Godlin, and it can add a layer of protection and security.

Getting travel insurance

How do i get travel insurance, what does travel insurance cover, how much does travel insurance cost.

• Bottom line

There are many options in the travel insurance marketplace: Aggregator site Squaremouth lets you get price quotes from different carriers and, because it receives a commission from the insurance companies on its site, users aren't charged any additional fees.

Allianz has both single-trip and annual plans, with a Cancel For Any Reason (CFAR) policy that reimburses up to 80% of prepaid, non-refundable expenses — more than most similar plans on the market.

In addition to trip cancellation, Allianz's popular OneTrip Prime plan includes travel interruption, emergency medical care and emergency transportation. Children 17 and under are covered for free when traveling with a parent or grandparent.

AIG's Travel Guard® plans are great if you need to customize your coverage: The mid-range Travel Guard Preferred plan pays out 100% for trip cancellation and 150% for trip interruption, with up to $50,000 in coverage for medical expenses and up to $500,000 for emergency evacuation. There's even a payout of up to $1,000 if you miss your connection.

Travel Guard® Travel Insurance

The best way to estimate your costs is to request a quote

Policy highlights

Travel Guard offers a variety of plans to suit travel ranging from road trips to long cruises. For air travelers, Travel Guard can help assist with tracking baggage or covering lost or delayed baggage.

24/7 assistance available

If you're booking a trip with an aggregator site like Expedia , review the details of any travel policy that's offered. Plans are usually based on the elements of the trip (hotel, flight, rental car, etc.) and can differ every time you book.

Travel insurance typically costs between 4 and 10% of the overall price tag for your trip. The cost can vary:

• Plans with higher limits and more optional coverage cost more.
• A plan with a CFAR benefit can cost up to 40% more.
• Older travelers typically pay more because there's more of a likelihood of a claim being filed. 

Whichever plan you choose, read the fine print so you understand what you're paying for.

Travel insurance generally covers your expenses, your belongings and your well-being. When shopping for a policy, look for these benefits:

Trip cancellation

If your trip is canceled for a covered reason, a policy will often reimburse airline tickets, hotel rooms, rental cars, tours, cruises and other prepaid, non-refundable expenses. Covered situations can include illness or injury, the death of a family member or traveling companion, job loss, military deployment and even unplanned jury duty, according to Allianz's Daniel Durazo.

Cancellations can also be covered if a natural disaster, severe weather or airline strike prevents your carrier from getting you to your destination for at least 24 hours.

Cancel For Any Reason (CFAR) plans provide a lot more flexibility and typically reimburse 50% to 75% of your expenses. But they can bump up the cost by about 40%, said Durazo, and policyholders are still usually required to cancel no later than 48 hours before their scheduled departure. 

Trip delay 

Should you experience a hiccup in your plans, your policy can provide some relief: Food, lodging and local transportation are usually covered if a delay is due to severe weather, airline maintenance or civil unrest.

"For a traveler to be eligible, they must be delayed for the minimum amount of time listed on their policy," Squaremouth spokesperson Megan Moncrief said. "Some policies are very lenient and provide benefits for any length delay, while others list a length requirement — usually somewhere between three to 12 hours."

Daily payout limits range from $150 to $250 per traveler, Moncrief said, while the total policy limit can be anywhere from $500 to $2,000. Save any receipts to submit with your reimbursement claim.

Don't miss: The best credit cards with trip delay insurance

Trip interruption

Should you need to cut your trip short due to illness or injury, or if there's a family emergency back home, your policy may reimburse non-refundable expenses you forfeited.

It may also cover the cost of a one-way economy airline ticket home.

Baggage loss

Airlines are required to compensate passengers luggage lost in transit, but a travel insurance policy may have a higher benefit limit, and cover you if your bags, passport or other possessions are lost, damaged or stolen once you've gotten to your destination., The Platinum plan from AXA Assistance USA has a $3,000 benefit limit for lost luggage, well beyond the $1,700 that airlines are required to cover on international flights. AXA has offices in more than 50 countries, with multilingual operators available 24 hours a day to help reschedule flights, book hotels and make other arrangements.

AXA Assistance USA Travel Insurance

AXA Assistance USA offers several travel insurance policies that include travel interruption, trip cancellation, and the option of cancel for any reason (CFAR) coverage.

Travel insurance doesn't cover every loss: Cash is not reimbursable and many policies won't reimburse for expensive jewelry or heirloom items. Read your policy carefully to see what is included.

Medical expenses and emergency evacuation

If you travel within the U.S., your health insurance should cover any illness or injury you sustain. If you're traveling abroad, though, your plan may provide little or no coverage. The right travel insurance should cover doctors' fees and hospital bills, Durazo said. 

The provider can also help coordinate care and ensure you're at a medical facility that's up to U.S. standards.

An emergency medical evacuation can be a major expense, costing anywhere from $15,000 to over $200,000, Durazo added.

If you've spent money on nonrefundable airline tickets, tours and hotels, you could be at a loss if something goes awry. Travel insurance covers numerous scenarios, from a medical emergency to a tropical storm. It could be particularly useful if:

• You've spent a lot on prepaid, non-refundable expenses
• You're traveling internationally where your health insurance won't apply
• You're traveling to a remote area
• Your flight involves multiple connections or destinations

"When deciding if travel insurance is right for you, ask yourself how much you could stand to lose if you had to cancel at the last minute," said Godlin.

If you're not as concerned about risk, your credit card may offer built-in travel protection if you book with that card: Chase Sapphire Preferred® , Southwest Rapid Rewards® Plus Card and the  *American Express® Gold Card all come with trip cancellation and interruption coverage, among other benefits.

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.

Please visit americanexpress.com/benefitsguide for more details.

Underwritten by New Hampshire Insurance Company, an AIG Company.

Chase Sapphire Reserve®

Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025

Welcome bonus

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

Regular APR

22.49% - 29.49% variable

Balance transfer fee

5%, minimum $5

Foreign transaction fee

Credit needed.

Terms apply.

Read our Chase Sapphire Reserve® review.

Southwest Rapid Rewards® Plus Credit Card

Earn 2X points on Southwest® purchases, 2X points on local transit and commuting, including rideshare; 2X points on internet, cable and phone services; select streaming. 1X points on all other purchases

Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

21.49% - 28.49% variable

Foreign transaction fees

Excellent/Good

American Express® Gold Card

4X Membership Rewards® points at Restaurants (plus takeout and delivery in the U.S.) and at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, 1X points on all other purchases

Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

Not applicable

See Pay Over Time APR

See rates and fees , terms apply.

Read our American Express® Gold Card review .

Research your card's travel benefits before making any purchases related to your trip.

Policies vary, but most comprehensive travel insurance plans cover travel cancellation and interruption, baggage loss, medical care and emergency transportation.

While the price for coverage varies, most policies cost between 4% and 10% of the trip's prepaid, non-refundable expenses.

When should I get travel insurance?

It's best to take out a policy within days of making your reservations.

Does travel insurance cover COVID-19?

If you contract COVID-19 before or on your trip, it may be covered by your policy's trip cancellation/interruption benefit . You'll likely have to confirm your test results with a diagnosis from a healthcare provider.

Bottom line 

Travel can be a wonderful experience, but it involves a lot of time, planning and money. Missing a single connection can have a cascade effect that impacts your flight, hotel room, dinner reservations and more. A good travel insurance policy can provide peace of mind so you can focus on your vacation.

Compare and find the best life insurance

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

Meet our experts

At CNBC Select, we work with experts with specialized knowledge and authority. For this story, we interviewed Beth Godlin, president of Aon, which provides custom travel insurance for tour operators, cruise lines, travel websites and others. We also spoke with former Squaremouth Megan Moncrief and Allianz communications director Daniel Durazo.

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance article is based on rigorous reporting by our team of expert writers and editors . While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

Catch up on CNBC Select's in-depth coverage of  credit cards ,  banking  and  money , and follow us on  TikTok ,  Facebook ,  Instagram  and  Twitter  to stay up to date.

For rates and fees for the American Express® Gold Card , click here .

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U.S. News takes an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

The 5 Best COVID-19 Travel Insurance Options

Travelex Insurance Services »

Allianz Travel Insurance »

World Nomads Travel Insurance »

Generali Global Assistance »

IMG Travel Insurance »

Why Trust Us

U.S. News evaluates ratings, data and scores of more than 50 travel insurance companies from comparison websites like TravelInsurance.com, Squaremouth and InsureMyTrip, plus renowned credit rating agency AM Best, in addition to reviews and recommendations from top travel industry sources and consumers to determine the Best COVID Travel Insurance Options.

Table of Contents

• Rating Details
• Travelex Insurance Services
• Allianz Travel Insurance

Even though COVID-19 is no longer considered a global emergency, concerns around illness-related costs remain for many travelers. If you're looking for travel insurance that covers COVID – as well as other potential disruptions like flight delays and lost luggage – these are your best options.

• Travelex Insurance Services: Best Optional Coverage Add-ons
• Allianz Travel Insurance: Best for Multitrip and Annual Plans
• World Nomads Travel Insurance: Best for Active Travelers
• Generali Global Assistance: Best for Comprehensive Travel Insurance
• IMG Travel Insurance: Best for Travel Medical Insurance

Best COVID Travel Insurance Options in Detail

Plans include coverage for COVID-19

Optional CFAR coverage is available with Travel Select plan

Some coverages require an upgrade, including rental car collision, accidental death and dismemberment, and more

Not all add-ons are available with every plan

Allianz offers some travel insurance plans that come with an epidemic coverage endorsement

Single-trip, multitrip and annual plans available

COVID-19 benefits don't apply to every plan

Low coverage limits with some plans (e.g., only $10,000 in emergency medical coverage with OneTrip Basic plan)

24-hour travel assistance services included

More than 200 sports and activities covered in every plan

Low trip cancellation benefits ($2,500 maximum) with Standard plan

No CFAR option is offered

Free 10-day trial period

Some coverage limits may be insufficient

Rental car damage coverage only included in top-tier Premium plan

Offers travel medical insurance, international travel health insurance and general travel insurance plans

Some plans include robust coverage for testing and quarantine due to COVID-19

Not all plans from IMG offer coverage for COVID-19

Cancel for any reason coverage not available with every plan

Frequently Asked Questions

When comparing COVID-19 travel insurance options, you'll want to make sure you fully understand the coverages included in each plan. For example, you should know the policy inclusions and limits for COVID-related claims, including coverage for testing, treatments, trip cancellation or COVID-related interruptions that can occur. Meanwhile, you should understand how your coverage will work if you contract some other illness while away from home.

Also ensure your travel insurance coverage will kick in for other mishaps that occur, and that limits are sufficient for your needs. If you're planning a trip to a remote area in a country like Costa Rica or Peru , you'll want to have emergency evacuation and transportation coverage with generous limits that can pay for emergency transportation to a hospital if you need treatment.

You can also invest in a travel insurance policy that offers cancel for any reason coverage. This type of travel insurance plan lets you cancel and get a percentage of your prepaid travel expenses back for any reason, even if you just decide you're better off staying home.

It depends on your private health insurance provider and/or travel insurance policy. As of May 11, 2023, private health insurers are no longer required to cover the cost of COVID-19 testing. Out-of-pocket costs for COVID-19 test kits at local drugstores and on Amazon are relatively affordable, however.

As you search for plans that will provide sufficient coverage for your next trip, you'll find travel insurance that covers COVID-19 quarantine both inside and outside the United States. However, you'll typically need to have your condition certified by a physician in order for this coverage to apply. Also make sure your travel insurance plan includes coverage for travel claims related to COVID-19 in the first place.

Many travel insurance plans do cover trip cancellation as a result of COVID-19, although the terms vary widely. You typically need to be certified by a physician in order to prove your condition. Disinclination to travel because of COVID-19 – such as fear of exposure to illness – will generally not be covered. This means you will actually have to test positive for coronavirus for benefits to apply; simply not wanting to travel is not a sufficient reason to make a claim.

If you want more flexibility in your COVID-19 travel insurance, ensuring you have a cancel for any reason policy may be your best bet, but be sure to check with your chosen travel insurance provider to assess your options.

Why Trust U.S. News Travel

Holly Johnson is an award-winning writer who has been covering travel insurance and travel for more than a decade. She has researched the best travel insurance options for her own trips to more than 50 countries around the world and has experience navigating the claims and reimbursement process. Over the years, Johnson has successfully filed several travel insurance claims for trip delays and trip cancellations. Johnson also works alongside her travel agent partner, Greg, who has been licensed to sell travel insurance in 50 states.

You might also be interested in:

5 Best Travel Insurance Plans for Seniors (Medical & More)

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Is Travel Insurance Worth It? Yes, in These 3 Scenarios

These are the scenarios when travel insurance makes most sense.

I'm a financial planner, and I'd recommend annual travel insurance to anyone who loves to travel abroad

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

• Frequent and spontaneous travelers will likely benefit from annual travel insurance policies.
• Your credit card may come with some travel protections, but it may not be enough.
• When choosing a policy, look at what it covers, not just what's cheapest.

Summer is just a few months away — and if you're planning a vacation this year, the last thing you want is an unexpected event to derail your plans (and cost you hundreds).

Flights get delayed or canceled constantly. Luggage disappears into the ether. Medical emergencies occur in remote destinations. Yet many jetsetters simply cross their fingers and hope for the best rather than prepare for the worst.

That's why, as a financial planner, I believe it's crucial to consider protecting your trips with the right insurance coverage. One option often overlooked, particularly by frequent travelers, is annual travel insurance .

Annual travel insurance covers all your trips within 365 days. Unlike stand-alone travel insurance, which only covers you for a specific trip, an annual policy covers any trips you take within the year.

That's why I tell clients who travel frequently that an annual policy is a good choice for their needs. By opting for an annual plan, you don't have to go through the hassle of booking multiple policies and potentially save money compared to purchasing individual trip coverage. Here's how it works.

What to look for in a policy

While specifics may vary depending on the insurer and plan tier, most include the following key benefits:

• Trip cancellations or interruptions: You may be able to get reimbursed for expenses (even nonrefundable ones!) related to an illness, injury, or natural disaster that forced you to cancel or cut your trip short.
• Emergency medical and dental care: If you fall ill or get injured while traveling, your insurance can help cover the cost of medical treatment.
• Emergency evacuation: In a serious medical emergency or security situation, your policy will arrange and pay for transportation to a hospital or back to your home country.
• Lost, delayed, or damaged baggage: If your luggage is lost, delayed, or damaged during your trip, you can get financial coverage for essential items while you wait for your stuff to be recovered or replaced.
• Trip delays and missed connections: When your travel plans are disrupted due to issues like mechanical problems or severe weather, you may get reimbursement for additional expenses incurred, like meals, lodging, and transportation.

It's important to note that annual travel insurance plans have limitations. Certain high-risk activities, pre-existing medical conditions, and travel to specific regions may be restricted or require additional coverage.

Some travelers may assume that their credit card's built-in travel protections are enough. While many travel rewards credit cards offer perks like rental car insurance, trip cancellation, and baggage reimbursement, the coverage limits are often much lower than a dedicated annual travel insurance plan.

Credit card coverage for emergency medical care is also particularly limited — capped at a few thousand dollars — which may not be enough in the face of a major international medical emergency.

How much travel justifies an annual plan?

For the occasional traveler who takes one or two trips a year, single-trip policies will probably work for you. But if you fall into any of these buckets, you may want to consider an annual policy:

• Regular international travelers (three or more trips abroad yearly)
• Road warriors frequently away for work
• Adventurers engaging in high-risk activities like heli-skiing, scuba diving, or mountain climbing
• Cruisers and tour group travelers
• Students or retirees taking extended trips throughout the year
• Those visiting developing countries with limited medical care

Annual plans cover all of your trips within a 365-day period after purchasing. They're basically a bundle of multiple policies into one package deal. This means you only have to buy one policy to manage, locking in your coverage for the year.

How to decide if an annual policy makes sense for you

Start by reviewing your travel plans this year — and your risk tolerance. Calculate how much buying individual travel insurance policies would cost you over the next year and compare it to the price of an annual plan.

Don't just focus on the premium — carefully evaluate coverage limits, exclusions, and deductibles to ensure you have enough protection for your needs.

An annual policy gives you the flexibility to take spontaneous trips without the hassle of obtaining last-minute insurance. More importantly, it provides peace of mind, knowing that you're covered for a wide range of travel disruptions and emergencies.

As the busy summer travel season ramps up, definitely explore protecting your trips with insurance, especially if you're jetting off internationally. Spending hours on the phone trying to rebook canceled flights or worrying about affording an overseas medical emergency is no way to vacation.

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Best International Travel Insurance

Travel insurance isn’t mandatory, though some countries may insist you have it before crossing their borders. It is also a requirement for the issuance of some visas. Still, international travel is uncertain. You’ll need international travel insurance if you’re about to embark on a trip abroad. 

Travel insurance will protect you from financial loss should you need medical attention, lose your luggage or find yourself stranded in a foreign country — flights cancelled or delayed.  Fortunately, several international travel insurance companies offer packages to suit all travel needs. 

Quick Look: Best International Travel Insurance

Five best international travel insurance, best for digital experience: faye, best for budget insurance: travelex, best for families: arch roamright, best for frequent fliers: allianz travel insurance, best for cruise vacations: nationwide travel insurance, how does international travel insurance work, what does international travel insurance cover.

• Travel Delay 

Trip Cancellation

• Trip Interruption 
• Baggage Insurance 
• Travel Medical Insurance 
• Emergency Medical Evacuation 
• Interruption For Any Reason (IFAR) Travel Insurance 
• Cancel For Any Reason (CFAR) Travel Insurance 
• Accidental Death and Dismemberment (AD&D) Insurance

What Is Not Covered by International Travel Insurance

How much does international travel insurance cost, travel with confidence.

• Frequently Asked Questions 
• Best for Travel on a Budget: Travelex International Ltd.
• Best for Cruise Vacation s: Nationwide Travel Insurance

Here are five of the best international travel insurance companies offering essential and add-on services for peace-of-mind travel.

Online travel insurance company Faye offers a single travel plan with optional add-ons. Users access plans and file claims on a free app with 24/7 access. Expect payment directly into a digital wallet. 

The basic insurance covers most medical expenses, including preexisting conditions and medical evacuation, lost or damaged luggage and trip cancellation and interruption. You can also choose add-ons like extreme sports and car rental damage coverage. Prices differ depending on the destination and travel duration. International coverage starts at an affordable $5.16 per day and domestic at $4.64.

• Available 24/7 on mobile app
• Customizable
• Provides nonmedical emergency evacuation up to $100,00
• Emergency medical coverage is no as generous as some of the other packages
• No interruption for any reason

Choose from three Travelex plans. The Basic plan comes in at a below-average premium. Quotes are available online. Benefits include trip delay, interruption and cancellation, baggage coverage and primary and emergency medical care. It also covers emergency medical evacuation. 

The family-directed Travel Select plan includes free coverage for children under 18. Unlike the Basic plan, it covers preexisting medical conditions. It also provides for customized add-ons like adventure sports. Travel America is designed for trips in the U.S. and covers up to seven people in a group. Apply for travel insurance online and get a quote in seconds.

• Three options to suit travel plans
• Free coverage for children under 18
• Domestic travel at a flat rate
• Some add-ons are unavailable on the Basic plan
• Low emergency medical coverage — $15,000 on the Basic plan

This provides a broad overview of your policy provisions and does not revise or amend the policy. Insurance coverages are underwritten by Arch Insurance Company, NAIC #11150, under policy series LTP 2013 and amendments thereto. Plans are offered and disseminated by registered travel retailers on behalf of Arch Insurance Solutions Inc., a licensed travel insurance producer* (CA License #0I18111, TX License #1787195). Both the travel insurance producer and the underwriter referenced above may be reached at 1-844-872-4163. Your policy is the contract that specifically and fully describes your coverage. Certain terms, conditions, restrictions and exclusions apply and coverages may vary in certain states. Please refer to your policy for detailed terms and conditions. Consumer Disclosures can be found at: https://www.roamright.com/disclosures/. Privacy policy can be found at: https://www.roamright.com/roamright-website-privacy-policy/ *Plans are solicited by licensed producers in NY and HI. 

Choose from Pro and Pro-Plus plans when you insure with Arch RoamRight. Both plans offer free coverage for one child younger than 18 per adult with travel insurance. The children receive the same coverage as the accompanying adult traveler —  cost-effective insurance for traveling families. The insurance covers medical emergencies, travel delays and interruptions and lost luggage. Pro-Plus covers existing conditions. The company offers upgrades for adventure travel, rental car damage and delayed luggage. Make claims by phone, email or online.

• Excellent customer service
• Free coverage for a child younger than 18 per adult
• Two policies and upgrades
• Limited extreme sports coverage

If you’re looking for all the travel insurance essentials on a budget, the Allianz One Trip Basic plan will work for you. Allianz provides users with an app to track and claim coverage. 

There are several plans on offer with some interesting innovations. 

One Trip Emergency Medical increases the emergency medical coverage for the Basic plan from $10,000 to $50,000 but excludes trip interruption and cancellation benefits. All Trip options provide travelers with year-round protection for a single fee and include car rental protection. Allianz has a Concierge service and multilingual customer service 24/7. 

• Several policy options tailored to your needs
• All Trip Basics offers year-round coverage
• Multilingual service 24/7
• Concierge services included in the plans
• Medical coverage is low
• 12-hour delay for baggage delay

In business since 1926, Nationwide Travel Insurance offers travelers a choice of seven travel insurance policies. Nationwide’s Essential Plan offers basic travel insurance at below-average prices. It also provides specialized cruise insurance and annual plans for those who travel frequently and would prefer to pay a single premium for a year’s coverage. Add-ons include rental car coverage, cancel for any reason (CFAR) and accidental death and dismemberment (AD&D) coverage.

• Offers specialized cruise travel insurance
• Frequent travelers can buy annual travel insurance
• Optional add-ons include rental car damage, CFAR and AD&D
• 12-hour wait for baggage delay

Anything can go wrong when you travel to foreign countries. You may have to cancel the trip, or it may be delayed. You may become ill or lose your luggage. International travel insurance protects you from financial loss under some of these circumstances.  

International travel insurance can be worthwhile because it covers a broad range of possible circumstances.

Travel Delay 

Most insurance companies impose a six-hour minimum waiting period before you can claim expenses for travel delays. 

Trip cancellation covers you for the prepaid portion of your travel costs in the event of cancellation. The policy will list the covered events. You can also buy coverage for all events but at a higher premium.  

Trip Interruption 

Your insurance will cover you for specified unforeseen travel interruptions. Listed reasons usually include illness, injury or bad weather. 

Baggage Insurance 

Baggage insurance covers you for lost, damaged or stolen luggage. 

Travel Medical Insurance 

Overseas medical costs can pile up, and your medical aid may not cover them. Travel medical insurance covers all your medical like ambulance services, hospitalization and doctor’s visits should you become ill or injure yourself while traveling. 

Emergency Medical Evacuation 

If you are seriously injured or ill while abroad, you may have to move to another facility capable of providing the treatment. Emergency medical evacuation covers transportation costs. In some instances, medical evacuation will also cover repatriation costs so you can return home.  

Interruption For Any Reason (IFAR) Travel Insurance 

Some insurance companies offer IFAR as an additional benefit. Under this benefit, you can return home for any reason. You will receive a portion of your prepaid expenses as a reimbursement. 

Cancel For Any Reason (CFAR) Travel Insurance 

CFAR insurance is another add-on product. You must buy it within two to three weeks of paying deposits for the trip or you won’t qualify. There is also usually a waiting period before you can cancel and a cap of around 75% on the reimbursement. 

Accidental Death and Dismemberment (AD&D) Insurance

AD&D covers you in case of accidental death or loss of a limb and faculties like sight. Your policy will define the injuries. Ensure you understand the exclusions if you buy this additional travel insurance. 

There are certain injuries and illnesses that your international travel insurance will not cover. These include:

• Preexisting medical conditions
• Natural disasters, civil unrest and war
• Change-of-mind cancellation
• Injury during high-risk activities
• Losses caused by negligence or in the commission of an illegal activity
• Routine doctor’s visits or procedures

Costs for international travel insurance differ considerably according to the trip cost, coverage, options, traveler age and ports of departure and destination. On average, travel insurance will cost between 3% and 6% of your nonrefundable costs. 

Don’t plan a foreign holiday without travel insurance. It isn’t worth the risk. Travel insurance protects you from losses when things go wrong as you travel the world. It protects you from financial loss and could make all the difference if you need medical attention or suffer the inconvenience of delayed or canceled flights. There is travel insurance to meet all your insurance needs at an affordable price. 

Frequently Asked Questions 

Is international travel insurance required.

In most countries, international travel insurance is not mandatory, though some may make it a prerequisite for entry. Some embassies also require proof of medical insurance before issuing a visa.

Does international travel insurance cover preexisting medical conditions?

International travel insurance does not cover preexisting medical conditions.

Is it possible to extend international travel insurance coverage while abroad?

Most insurance companies will allow you to extend your international travel insurance coverage while abroad though there may be time limits.

• Travel Insurance

The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering.

When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach.

To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers.

Readers of our stories should not act on any recommendation without first taking appropriate steps to verify the information in the stories consulting their independent financial adviser in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. We make every effort to provide accurate and up-to-date information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. Forbes Advisor Australia accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in our stories or any other information made available to a person, nor any obligation to furnish the person with any further information.

Travel Insurance For Singapore: The Complete Guide

Updated: Apr 4, 2024, 12:29pm

Table of Contents

Featured Partners

Singapore Travel Insurance

What does travel insurance for singapore cover, can i tailor my travel insurance for singapore, what does travel insurance for singapore exclude, how much does travel insurance for singapore cost, how can i compare travel insurance for singapore, frequently asked questions (faqs).

Singapore has long been a holiday favourite for Australians, either as a stop-over city on the way to Europe or the Middle East or as base for exploring Asia. According to the latest figures from data portal, Statista, 566,000 Australians visited the country in 2022.

If you’re also planning to visit, travel insurance for Singapore can safeguard your trip against a number of potential mishaps, such as falling ill while away, losing your luggage and belongings or even needing to cancel the trip before it’s even begun. Singapore is a safe country, but the cost of medical care is high.  Find out more about how travel insurance for Singapore works below.

Fast Cover Travel Insurance

On Fast Cover’s Secure Website

Cancellations

Unlimited, (Trip Disruption $50,000)

Rental Vehicle Excess

Key Features

25-Day Cooling Off Period, Australian Based Call Centre, 4.6 Star Product Review Rating

Cover-More Travel Insurance

On Cover-more’s secure website

Medical cover

Unlimited, with a $2000 limit to dental

Yes, amount chosen by customer

Southern Cross Travel Insurance (Comprehensive)

Option of Cruise Cover

Unlimited medical

Yes (some sub limits apply)

There are three main types of travel insurance policy for Singapore. These are:

• Single trip: for a one-off trip in the space of 12 months to Singapore
• Annual multi-trip : for more than one trip in the space of 12 months to Singapore or various destinations. This type of cover can work out more cost-effective than buying multiple single trip policies but not always so it’s best to compare both types of cover.
• Long-stay/backpacker : for an extended stay in Singapore, of typically 60 or 90 days, or 12 or 18 months. Cover for 24 months may be available, from certain providers.

When applying for travel insurance online, you’ll first be asked to enter your holiday destination. Depending on the insurer, you’ll need to click on Singapore, Asia or Worldwide travel excluding the US and nearby destinations such as Mexico, the Caribbean, Canada and Greenland. The latter option excludes a part of the world where medical costs are the highest, which in turn, bumps up the cost of cover. If you’re also planning to travel to the US, for example, there are separate worldwide policies that include it as a destination.

Insurers usually offer at least two or more types of travel insurance policy from basic or comprehensive cover and anything in between. Comprehensive policies offer the highest cover levels and widest range of benefits.

A key component of all travel insurance policies is emergency medical cover. You’ll find a comprehensive policy for Singapore will often offer an unlimited amount.

The standard of medical facilities and care in Singapore is similar to, or higher than in Australia, and the cost often much higher, so medical cover can prove a vital resource should you fall ill, or get injured, while away.

Note that in the case of an emergency, you’ll likely need to pay up-front first, and then reclaim the costs from your insurer, or confirm payment from your insurer with a hospital before it will provide treatment.

As standard, travel insurance for Singapore can also cover repatriation and emergency rescue, in severe medical cases, the loss or theft of your baggage and belongings and trip cancellation if you can no longer travel for reasons such as falling ill, suffering a bereavement or losing your job.

They will also likely include an array of other forms of protection, providing the most at comprehensive level. This includes cover for lost or stolen money, passports and documentation, missed departures, online fraud, and travel delay. The types of cover on offer, and cover limits, will vary between providers. You can find exactly what a policy includes in its product disclosure statement (PDS), which is usually found on an insurer’s website.

There are a number of ways you can ensure your policy fits your needs. Many insurers offer optional add-ons that you can purchase if you need specialised cover. These include insurance for gadgets (such as a smartphone or laptop), a cruise and playing golf.

If you’re thinking of participating in more high-octane activities, check your policy’s PDS. Many cover around 100 or so sports automatically. Cover for what an insurer classes as high-risk activities, such as skydiving, bungee jumping, outdoor rock climbing, and activities requiring a set of wheels, such as quad biking, may require purchasing an additional ‘sports pack’ for your policy.

While reading through a policy’s PDS, it’s crucial to also take note of any limitations of cover. These can differ between policies, but generally you can expect most insures to refuse claims relating to a pre-existing condition. This is a medical condition you had before taking out the policy. The insurer may not cover such conditions, or may refuse your claim if you did not declare your condition on applying for the policy.

An insurer is also unlikely to accept claims for an injury caused by taking part in a sport or activity where you did not wear the appropriate safety gear, such as a helmet, knee pads or a harness. Claims resulting from disorderly behaviour or being under the influence of drink or drugs will also likely be rejected.

It’s best to regularly check government advice for your destination, which it publishes on its Smartraveller website. This includes warnings about natural disasters, terrorism threats and pandemics. Visiting Singapore, or a part of the country, if the government puts it on its “do not travel” list, could invalidate your policy.

The amount you’ll need to pay for your travel insurance policy will depend on a range of factors. An insurer will consider your holiday destination, associated costs when travelling there and the length of time you’ll be travelling.

The price of a policy can rise for mature travellers and those with pre-existing conditions, as insurers view these travellers as more likely to claim on their policy.

To provide an idea of how much travel insurance for Singapore can cost, we ran quotes on the sites of the insurers we’ve rated the top five for travel insurance.

We used the profile of a family of four, aged 42, 40, 14 and 12, spending 13 to 26 May in the country, and assumed they have no pre-existing conditions, (although these providers do offer cover for pre-existing conditions should you need it).

We found basic cover ranged from around $106 to $202, while comprehensive cover started at around $241, with the most expensive policy costing just under $304.

Before choosing a policy, it’s important to shop around. An easy way to do this is to run quotes on the websites of various insurers and compare factors such as the type of cover a policy includes and cover levels against price.

To help you with your search, we’ve conducted some research and found our pick of the best comprehensive travel insurance policies .

Is travel insurance for Singapore worth it?

While travel insurance for Singapore isn’t mandatory, it can be considered a travel essential if you have no other means of covering emergency costs while away.

Emergency medical fees can easily stack up to thousands of dollars alone, and without travel insurance in place, you would have to cover them out of pocket. Travel insurance also can cover a number of eventualities that we often fail to consider, such as an airline, transport company, or accommodation provider going bust.

What is ‘excess’ in insurance?

An excess is a set amount you’ll be expected to pay on each approved claim. It’s usually levied per person on the policy, per event, per claim, but you can check the PDS for the specifics concerning your insurer. You usually can pick from a range of excess amounts, from $50 to $250 on average, when taking out a policy.

The more you choose to pay in excess, the lower your policy premium—the cost of your policy—typically will be, while paying less in excess will raise the cost. An excess is usually deducted from a claim amount, so you won’t need to pay for it out of pocket. However, it’s still crucial that you make sure it’s affordable.

Can I buy a policy while I’m in Singapore?

Some providers won’t cover a holiday if it’s already started. Others may cover you, but apply a waiting period of around 72 hours before you can claim.

The best time to take out travel insurance is as soon as you’ve booked your holiday, as you’ll be immediately covered for trip cancellation. Insurers are highly unlikely to consider claims resulting from something that happened before you took out the policy.

• Best Comprehensive Travel Insurance
• Best Seniors Travel Insurance
• Best Domestic Travel Insurance
• Best Cruise Travel Insurance
• Best Family Travel Insurance
• Travel Insurance Cost
• Pregnancy Travel Insurance Guide
• Travel Insurance Cancellation Cover
• Travel Insurance For Bali
• Travel Insurance For Fiji
• Travel Insurance For The USA
• Travel Insurance For Thailand
• Travel Insurance For New Zealand
• Travel Insurance For Japan
• Travel Insurance For Europe
• Travel Insurance For Indonesia
• Cover-More Travel Insurance Review
• Fast Cover Travel Insurance Review
• Travel Insurance Saver Review
• Allianz Comprehensive Travel Insurance Review
• 1Cover Comprehensive Travel Insurance Review
• Australia Post Comprehensive Travel Insurance Review

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I have been writing for newspapers, magazines and online publications for over 10 years. My passion is providing, in a way that is easily accessible and digestible to all, the knowledge needed for readers to not only manage their finances, but financially flourish.

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