travel insurance cost

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9 Best Travel Insurance Companies of April 2024

According to our analysis of more than 50 travel insurance companies and hundreds of different travel insurance plans, the best travel insurance company is Travelex Insurance Services. In our best travel insurance ratings, we take into account traveler reviews, credit ratings and industry awards. The best travel insurance companies offer robust coverage and excellent customer service, and many offer customizable add-ons.

Travelex Insurance Services »

Allianz Travel Insurance »

HTH Travel Insurance »

Tin Leg »

AIG Travel Guard »

Nationwide Insurance »

Seven Corners »

Generali Global Assistance »

Berkshire hathaway travel protection ».

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 Travel Insurance Companies.

Table of Contents

• Travelex Insurance Services
• Allianz Travel Insurance

Travel insurance can help you protect the financial investment you made in your vacation when unexpected issues arise. Find the best travel insurance for the type of trip(s) you're taking and the coverages that matter most to you – from interruptions and misplaced belongings to illness and injury.

• Travelex Insurance Services: Best Overall
• Allianz Travel Insurance: Best for Trip Interruptions
• HTH Travel Insurance: Best for Groups
• Tin Leg: Best Cost
• AIG Travel Guard: Best for Families
• Nationwide Insurance: Best for Last-Minute Travel Insurance
• Seven Corners: Best for 24/7 Support When Traveling
• Generali Global Assistance: Best for Medical Emergencies
• Berkshire Hathaway Travel Protection: Best for Specialized Coverage

Customizable upgrades are available, including car rental coverage, additional medical insurance and adventure sports coverage

Medical and trip cancellation maximum are not as high as some other companies

• 100% of the insured trip cost for trip cancellation; 150% for trip interruption
• Up to $1,000 in coverage for lost, damaged or stolen bags and personal items; $200 for luggage delays
• $750 in missed connection coverage
• $50,000 in emergency medical and dental coverage
• Up to $500,000 in emergency medical evacuation and repatriation coverage

SEE FULL REVIEW »

Annual and multitrip policies are available

Distinguishing between the company's 10 travel insurance plans can be challenging

• Up to $200,000 in trip cancellation coverage; $300,000 in trip interruption coverage
• $2,000 for lost, damaged or stolen luggage and personal effects; $600 for bag delays
• Up to $1,600 for travel delays
• Emergency medical coverage of up to $75,000
• Epidemic coverage

Generous coverage at the mid- and high-tier levels, and great group discounts

Preexisting conditions coverage is only available at mid- and high-tier plans

• 100% trip cancellation coverage (up to $50,000); 200% trip interruption coverage
• Up to $2,000 in coverage for baggage and personal effects; $400 in baggage delay coverage
• Up to $2,000 in coverage for trip delays; $1,000 for missed connections
• $500,000 in coverage per person for sickness and accidents

Variety of plans to choose from, including two budget-friendly policies and several more premium options

More limited coverage for baggage issues than other companies

• 100% trip cancellation protection; 150% trip interruption
• $500 per person for lost, stolen or damaged baggage and personal items
• Up to $2,000 per person in travel delay coverage ($150 per day); $100 per person for missed connections
• $100,000 per person in emergency medical coverage, including issues related to COVID-19

Travel insurance policy coverage is tailored to your specific trip

Information about policy coverage inclusions is not readily available without first obtaining a quote

• Trip cancellation coverage for up to 100% of your trip's cost; trip interruption coverage for up to 150% of the trip cost
• Up to $2,500 in coverage for lost, stolen or damaged baggage; $500 related to luggage delays
• Up to $1,000 in missed connection and trip delay coverage
• $100,000 in emergency medical coverage

Variety of plans to choose from and coverage available up to a day before you leave on your trip

Limited trip cancellation coverage even at the highest tier

• Trip cancellation coverage up to $30,000; trip interruption coverage worth up to 200% of the trip cost (maximum of $60,000)
• $2,000 for lost, damaged or stolen baggage; $600 for baggage delays
• Up to $2,000 for trip delays; missed connection and itinerary change coverage of $500 each
• $150,000 for emergency medical and dental issues

Customer service available 24/7 via text, Whatsapp, email and phone

Cancel for any reason coverage costs extra

• 100% trip cancellation coverage (up to between $30,000 and $100,000 depending on your state of residence); interruption coverage for up to 150% of the trip cost 
• Lost, stolen or damaged baggage coverage up to $2,500; up to $600 for luggage delays
• Trip delay and missed connection coverage worth up to $1,500
• Emergency medical coverage worth up to between $250,000 and $500,000 (depending on where you live)

Generous emergency medical and emergency evacuation coverage

Coverage for those with preexisting conditions is only available on the Premium plan

• 100% reimbursement for trip cancellation; 175% reimbursement for trip interruption
• $2,000 in coverage for loss of baggage per person
• $1,000 per person in travel delay and missed connection coverage
• $250,000 in medical and dental coverage per person

In addition to single-trip plans, company offers specific road trip, adventure travel, flight and cruise insurance coverage

Coverage for missed connections or accidental death and dismemberment is not part of the most basic plan

• Trip cancellation coverage worth up to 100% of the trip cost; interruption coverage worth up to 150% of the trip cost
• $500 in coverage for lost, stolen or damaged bags and personal items; bag delay coverage worth $200
• Trip delay coverage worth up to $1,000; missed connection coverage worth up to $100
• Medical coverage worth up to $50,000

To help you better understand the costs associated with travel insurance, we requested quotes for a weeklong June 2024 trip to Spain for a solo traveler, a couple and a family. These rates should help you get a rough estimate for about how much you can expect to spend on travel insurance. For additional details on specific coverage from each travel insurance plan and to input your trip information for a quote, see our comparison table below.

Travel Insurance Types: Which One Is Right for You?

There are several types of travel insurance you'll want to evaluate before choosing the policy that's right for you. A few of the most popular types of travel insurance include:

COVID travel insurance Select insurance plans offer some or a combination of the following COVID-19-related protections: coverage for rapid or PCR testing; accommodations if you're required to quarantine during your trip if you test positive for coronavirus; health care; and trip cancellations due to you or a family member testing positive for COVID-19. Read more about the best COVID-19 travel insurance options .

Cancel for any reason insurance Cancel for any reason travel insurance works exactly how it sounds. This type of travel insurance lets you cancel your trip for any reason you want – even if your reason is that you simply decide you no longer want to go. Cancel for any reason travel insurance is typically an add-on you can purchase to go along with other types of travel insurance. For that reason, you will pay more to have this kind of coverage added to your policy.

Also note that this type of coverage typically only reimburses 50% to 80% of your nonrefundable prepaid travel expenses. You'll want to make sure you know exactly how much reimbursement you could qualify for before you invest in this type of policy. Compare the best cancel for any reason travel insurance options here .

International travel insurance Travel insurance is especially useful when traveling internationally, as it can provide medical coverage for emergencies (in some cases for COVID-19) when you're far from home. Depending which international travel insurance plan you choose, this type of travel insurance can also cover lost or delayed luggage, rental cars, travel interruptions or cancellations, and more.

Cheap travel insurance If you want travel insurance but don't want to spend a lot of money, there are plenty of cheap travel insurance options that will offer at least some protections (and peace of mind). These are typically called a company's basic or standard plan; many travel insurance companies even allow you to customize your coverage, spending as little or as much as you want. Explore your options for the cheapest travel insurance here .

Trip cancellation, interruption and delay insurance Trip cancellation coverage can help you get reimbursement for prepaid travel expenses, such as your airfare and cruise fare, if your trip is ultimately canceled for a covered reason. Trip interruption insurance, on the other hand, kicks in to reimburse you if your trip is derailed after it starts. For instance, if you arrived at your destination and became gravely ill, it would cover the cost if you had to cut your trip short.

Trip delay insurance can help you qualify for reimbursement of any unexpected expenses you incur (think: lodging, transportation and food) in the event your trip is delayed for reasons beyond your control, such as your flight being canceled and rebooked for the next day. You will want to save your receipts to substantiate your claim if you have this coverage.

Lost, damaged, delayed or stolen bags or personal belongings Coverage for lost or stolen bags can come in handy if your checked luggage is lost by your airline or your luggage is delayed so long that you have to buy clothing and toiletries for your trip. This type of coverage can kick in to cover the cost to replace lost or stolen items you brought on your trip. It can also provide coverage for the baggage itself. It's even possible that your travel insurance policy will pay for your flight home if damages are caused to your residence and your belongings while you're away, forcing you to return home immediately.

Travel medical insurance If you find yourself sick or injured while you are on vacation, emergency medical coverage can pay for your medical expenses. With that in mind, however, you will need to find out whether the travel medical insurance you buy is primary or secondary. Where a primary policy can be used right away to cover medical bills incurred while you travel, secondary coverage only provides reimbursement after you have exhausted other medical policies you have.

You will also need to know how the travel medical coverage you purchase deals with any preexisting conditions you have, including whether you will have any coverage for preexisting conditions at all. Read more about the best travel medical insurance plans .

Evacuation insurance Imagine you break your leg while on the side of a mountain in some far-flung land without quality health care. Not only would you need travel medical insurance coverage in that case, but you would also need coverage for the exorbitant expense involved in getting you off the side of a mountain and flying you home where you can receive appropriate medical care.

Evacuation coverage can come in handy if you need it, but you will want to make sure any coverage you buy comes with incredibly high limits. According to Squaremouth, an emergency evacuation can easily cost $25,000 in North America and up to $50,000 in Europe, so the site typically suggests customers buy policies with $50,000 to $100,000 in emergency evacuation coverage.

Cruise insurance Travel delays; missed connections, tours or excursions; and cruise ship disablement (when a ship encounters a mechanical issue and is unable to continue on in the journey) are just a few examples why cruise insurance can be a useful protection if you've booked a cruise vacation. Learn more about the top cruise insurance plans here .

Credit card travel insurance It is not uncommon to find credit cards that include trip cancellation and interruption coverage , trip delay insurance, lost or delayed baggage coverage, travel accident insurance, and more. Cards that offer this coverage include popular options like the Chase Sapphire Reserve credit card , the Chase Sapphire Preferred credit card and The Platinum Card from American Express . 

Note that owning a credit card with travel insurance protection is not enough for your coverage to count: To take advantage of credit card travel insurance, you must pay for prepaid travel expenses like your airfare, hotel stay or cruise with that specific credit card. Also, note that credit cards with travel insurance have their own list of exclusions to watch out for. Many also require cardholders to pay an annual fee.

Frequently Asked Questions

The best time to buy travel insurance is normally within a few weeks of booking your trip since you may qualify for lower pricing if you book early. Keep in mind, some travel insurance providers allow you to purchase plans until the day before you depart.

Many times, you are given the option to purchase travel insurance when you book your airfare, accommodations or vacation package. Travel insurance and travel protection are frequently offered as add-ons for your trip, meaning you can pay for your vacation and some level of travel insurance at the same time.

However, many people choose to wait to buy travel insurance until after their entire vacation is booked and paid for. This helps travelers tally up all the underlying costs associated with a trip, and then choose their travel insurance provider and the level of coverage they want.

Figuring out where to buy travel insurance may be confusing but you can easily research and purchase travel insurance online these days. Some consumers prefer to shop around with a specific provider, such as Allianz or Travelex, but you can also shop and compare policies with a travel insurance platform. Popular options include:

• TravelInsurance.com: TravelInsurance.com offers travel insurance options from more than a dozen vetted insurance providers. Users can read reviews on the various travel insurance providers to find out more about previous travelers' experiences with them. Squaremouth: With Squaremouth, you can enter your trip details and compare more than 90 travel insurance plans from 20-plus providers.
• InsureMyTrip: InsureMyTrip works similarly, letting you shop around and compare plans from more than 20 travel insurance providers in one place. InsureMyTrip also offers several guarantees, including a Best Price Guarantee, a Best Plan Guarantee and a Money-Back Guarantee that promises a full refund if you decide you no longer need the plan you purchased.

Protect your trip: Search, compare and buy the best travel insurance plans for the lowest price. Get a quote .

When you need to file a travel insurance claim, you should plan on explaining to your provider what happened to your trip and why you think your policy applies. If you planned to go on a Caribbean cruise, but your husband fell gravely ill the night before you were set to depart, you would need to explain that situation to your travel insurance company. Information you should share with your provider includes the details of why you're making a claim, who was involved and the exact circumstances of your loss.

Documentation is important, and your travel insurance provider will ask for proof of what happened. Required documentation for travel insurance typically includes any proof of a delay, receipts, copies of medical bills and more.

Most travel insurance companies let you file a claim using an online form, but some also allow you to file a claim by phone or via fax. Some travel insurance providers, such as Allianz and Travel Insured International, offer their own mobile apps you can use to buy policies and upload information or documents that substantiate your claim. In any case, you will need to provide the company with proof of your claim and the circumstances that caused it.

If your claim is initially denied, you may also need to answer some questions or submit some additional information that can highlight why you do, in fact, qualify.

Whatever you do, be honest and forthcoming with all the information in your claim. Also, be willing to provide more information or answer any questions when asked.

Travel insurance claims typically take four to six weeks to process once you file with your insurance company. However, with various flight delays and cancellations due to things like extreme weather and pilot shortages, more travelers have begun purchasing travel insurance, encountering trip issues and having to submit claims. The higher volume of claims submitted has resulted in slower turnaround times at some insurance companies.

The longer you take to file your travel insurance claim after a loss, the longer you will be waiting for reimbursement. Also note that, with many travel insurance providers, there is a time limit on how long you can submit claims after a trip. For example, with Allianz Travel Insurance and Travelex Insurance Services, you have 90 days from the date of your loss to file a claim.

You may be able to expedite the claim if you provide all the required information upfront, whereas the process could drag on longer than it needs to if you delay filing a claim or the company has to follow up with you to get more information.

Travel insurance is never required, and only you can decide whether or not it's right for you. Check out Is Travel Insurance Worth It? to see some common situations where it does (and doesn't) make sense.

Why Trust U.S. News Travel

Holly Johnson is an award-winning content creator who has been writing about travel insurance and travel for more than a decade. She has researched travel insurance options for her own vacations and family trips to more than 50 countries around the world, and has experience navigating the claims and reimbursement process. In fact, she has successfully filed several travel insurance claims for trip delays and trip cancellations over the years. Johnson also works alongside her husband, Greg, who has been licensed to sell travel insurance in 50 states, in their family media business.

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

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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.

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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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About Alex Miller

Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business, The New York Times, and more.

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