Last updated: March 2026
How Much Does Travel Insurance Cost?
Cost Breakdown by Type
| Type / Procedure | Without Insurance | With Insurance |
|---|---|---|
| Basic Trip Cancellation (per trip) | $0 – $0 | $25 – $100 |
| Comprehensive Travel Insurance (per trip) | $0 – $0 | $75 – $250 |
| Annual Multi-Trip Policy | $0 – $0 | $150 – $400 |
| Cancel for Any Reason (CFAR) | $0 – $0 | $150 – $500 |
What Affects the Cost
- Your age, location, and health status
- Coverage level and deductible chosen
- Provider or carrier
- Claims history
- Credit score (for some insurance types)
- Discounts available (bundling, loyalty, safe driver, etc.)
Insurance Coverage
Typical coverage: Travel insurance covers trip cancellation, medical emergencies abroad, lost luggage, and travel delays. Cost is typically 4-12% of the total trip cost.
Insurance costs vary widely based on coverage level, location, age, and claims history. Shopping around and comparing quotes is the single most effective way to save money on insurance premiums.
How to Save Money
- Compare quotes from at least 3-5 providers
- Bundle policies (home + auto) for 10-25% discounts
- Choose higher deductibles for lower monthly premiums
- Ask about all available discounts
- Review coverage annually during open enrollment
- Consider employer-sponsored plans which subsidize 50-80% of premiums
Related Procedures & Costs
Frequently Asked Questions
Travel insurance typically costs 4 to 12% of your total trip cost. A $5,000 trip would cost $200 to $600 to insure, depending on coverage level and traveler age.
Travel insurance is recommended for expensive trips, international travel, trips to remote areas, and travelers with medical conditions. The peace of mind is often worth the 5 to 10% cost.
Comprehensive travel insurance covers trip cancellation, medical emergencies, evacuation, lost or delayed luggage, and travel delays.