If you’re asking yourself, “how much is travel insurance?”, then you’ve come to the right place. To give you an idea of what travel insurance might cost relative to your trip, we’ve put together some highlights for you. Read on to learn more about how much travel insurance costs, what travel insurance can do for you and decide for yourself if the price is worth it.
Also read:Is Travel InsuranceWorthIt? 3 Examples WhereitPays Off
How We Calculate Your Travel Insurance Price
When you enter your information into our quote form, have you wondered what happens behind the scenes to get you the right price for travel insurance?
It’s simple to get a quote to insure your trip. You only need to answer a handful of questions and an instant later we give you custom prices for your trip and the choice between three plans with different levels of protection. You can get the quote in an instant, but in the background we’re crunching numbers to make sure you get an accurate price for the coverage you need.
We’ve found the sweet spot to ask you the right questions to offer you the best price we can, while making the quote form easy to fill out. Consider this when shopping around: If a company is asking you too few questions, they may not be able to find the most accurate price for your travel situation.
Find out more about the factors that affect the price of a travel insurance quote
Why the different costs? Coverage differences between plans
Before choosing a travel insurance plan, here’s a snapshot of some of the coverage differences for each plan:
•Medical and Dental coveragereimburses you for necessary medical, surgical and emergency dental care costs if you get sick or accidentally injured while on your covered trip. Coverage is in excess of your standard coverage, except where prohibited. It’s included in all three plans but the per person limits vary from $50,000 for Standard to $150,000 for Preferred and $250,000 for Premium.
• Trip Interruption is one of the most common reasons for making a travel insurance claim.Trip Interruption coverageprovides reimbursem*nt for unused, non-refundable, pre-paid trip costs if your trip is interrupted due to a covered event. Also, it provides reimbursem*nt for additional transportation costs to return home or rejoin your group. Benefit limits vary by plan: 125% for Standard, 150% for Preferred and 175% for Premium.
Find out why you shouldn't just buy the cheapest travel insurance
• If you’re traveling with sports gear, then Sport Equipment Coverage is for you. It provides coverage for lost, stolen or damaged sporting equipment and is available with the Preferred plan up to $300 per person and Premium plan up to $500 per person, but not available in the Standard plan.
• If you have aPre-existing medical condition, you could still have coverage, but only through thePremium plan. See if you meet the requirements and read the sampleDescription of Coverage or Policyfor full details. Also, the Premium plan must be purchased prior to or within 24 hours of final trip payment.
Learn more about travel insurance:
•What is Travel Insurance?
•Travel Insurance Comparison: How to Choose the Right Plan
•Top 5 Reasons to Get Travel Insurance
For a relatively small amount of the total trip cost, you can purchase travel insurance that can help protect against common mishaps like Trip Interruption, Trip Cancellation and Trip Delay. Costs can add up quickly for emergency medical care or events like a cancelled flight due to adverse weather or lost or stolen baggage. As a general rule of thumb, if you’re investing more in your vacation than you can afford to lose, then consider travel insurance from a reputable provider such as Generali Global Assistance.
If you’re still asking yourself, “how much does travel insurance cost?”, then you can get right to the point—plug your trip details into our Get a Quote page and find out exactly how much travel insurance will cost for your trip. And, if you need help buying travel insurance online, check out our Step-by-Step Purchase Guide.
*Actual travel insurance cost will vary depending on trip details.
FAQs
The average cost of travel insurance is 5% to 6% of your trip costs, according to Forbes Advisor's analysis of travel insurance rates. For a $5,000 trip, the average travel insurance cost is $228, and the range of rates is from $154 for a basic policy up to $437 for a policy with generous coverage .
Who is the best and cheapest travel insurance? ›
The 7 Best Cheap Travel Insurance Companies Worth The Cost
| Company | BBB Rating | Cheapest Plan |
|---|
| Travelex Compare Plans | A+ | Travel basic |
| Seven Corners Travel Insurance Compare Plans | A+ | Trip Protection Basic |
| Generali Global Assistance Compare Plans | A+ | Standard Plan |
| AIG Travel Guard Compare Plans | A+ | Essential |
3 more rowsApr 23, 2024
Generally speaking, you can expect travel insurance to cost between 4% and 10% of your total prepaid, non-refundable trip cost. 1 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.
Is 100000 enough for travel insurance? ›
Every plan is different, but the coverage amounts and benefits may vary. Determine how much you really need. For example, SquareMouth recommends international travelers get around $50,000 in Emergency Medical coverage and $100,000 for cruises or travel to remote areas.
Does travel insurance get more expensive closer to the trip? ›
Unlike other aspects of your travel experience like airfares or hotel-room rates, the price of travel insurance doesn't increase the closer you get to your travel date. There's no financial penalty if you wait to buy travel insurance (except for those bonus coverages, of course).
What is the average cost of travel insurance in the US? ›
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%. $60.27.
What travel insurance will not cover? ›
Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.
Is it better to buy travel insurance early or late? ›
In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you'll be protected and the more benefits you may be eligible to receive.
Is it better to get single trip or annual travel insurance? ›
This will depend on your situation, but if you are certain you will only travel once in the next 12 months, you should get a single trip policy for that holiday. If you are unsure of how many trips you will take, an annual policy may be more expensive, but it will give you the peace of mind of knowing you are covered.
Is Allianz travel insurance good? ›
Allianz is a popular choice among business travelers due to its AllTrips Executive travel insurance policy with coverage for lost, stolen or damaged business equipment and rental car insurance. Earning 4.1 out of 5 stars, our expert reviewers think Allianz is a great choice for international travel insurance.
While there are no AARP travel insurance products or discounts available for seniors, members can use the AARP website for trips and tricks on how to plan for international travel and information regarding how to choose the right insurance plan for older travelers.
When should I buy travel insurance? ›
Travel insurance is designed to protect a traveler from certain unforeseeable events—not things that are easily foreseeable, or things that have already happened at the time you purchase your plan. That's why it's smart to buy insurance as early as possible in the booking process.
What are the best travel medical insurance companies? ›
Based on our comprehensive review, the companies offering the best travel medical insurance are Faye, IMG, Travelex, AIG Travel Guard and Allianz. Travel medical insurance is a specialized type of coverage that helps pay for medical bills and emergency evacuations if you're hurt or become sick while traveling.
What to look for in travel insurance? ›
Your travel insurance should always include the following cover:
- medical expenses and cover for getting you home if you're injured or fall ill abroad.
- personal injury and cover for accidents or damage caused by you.
- cover for lost or damaged items.
- cover for lost or delayed baggage.
If you read any of our other articles, you'll remember that we always offer a simple recommendation for Medical Insurance. Overseas travelers should have these minimum levels of protection: Medical Insurance Coverage - $100,000. Medical Evacuation Coverage - $250,000.
Does travel insurance cover 100%? ›
If all conditions are met, most of the policies will reimburse you 50% to 75% of your trip costs, unless otherwise noted.
How much does travel insurance cost for flights? ›
Travel insurance will generally cost 5% to 10% of your total trip price, according to SquareMouth.
What does travel insurance not cover? ›
Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.
How much travel insurance do I need for Europe? ›
Without this coverage, you are responsible for any medical expenses. The average cost of travel insurance is between 5% and 10% of the total price of your trip. This can be worth it for the medical benefits alone when traveling in Europe.
