Cheapest Travel Insurance Plans and Companies

The cheapest travel insurance plan start at $43 for basic coverage and $61 for comprehensive plans. We compared quotes from 42 plans to find the cheapest travel insurance options by coverage type and trip cost. 
Find the most affordable travel insurance plans for you below.

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Updated: September 12, 2025

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Cheapest Travel Insurance: Key Takeaways

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Cheap travel insurance starts at $43 from Tin Leg. Our quote analysis shows basic coverage with $2,500 trip cancellation and $50,000 medical protection costs less than most travelers expect.

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The cheapest comprehensive and premium travel insurance plans start at $61 per month from Tin Leg, World Nomad, Travel Insured and World Trips.

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Compare cheap travel insurance across categories, not just price. The travel insurance cheapest option isn't always the best value when more comprehensive plans cost a few dollars more than basic coverage.

Cheapest Travel Insurance Plans

MoneyGeek analyzed over 10,000 quotes to find you the cheapest travel insurance companies and plans. Travel insurance is a surprisingly affordable option for protecting your financial investment in travel.

The cheapest travel insurance plan may not be the best option for you, so we compare features of the cheapest plans to make sure you are getting the affordable coverage that you need. Our quote analysis reveals that spending just $18 more can upgrade you from basic to comprehensive coverage including more medical coverage and favorable trip cancellations reasons.

Cheapest Travel Insurance Plans: Basic Coverage

Travelex and Tin Leg has the cheapest basic travel insurance. Basic plans provide minimum protection with $15,000 to $50,000 medical coverage, $100,000 to $500,000 evacuation limits and trip cancellation and interruption coverage. These work well for domestic trips, short international travel or younger travelers with existing health insurance.

Cheapest basic travel insurance plans:

  • Tin Leg Basic at $43: best value with $50,000 medical coverage but limited trip cancellation reasons (no job loss, requires 48+ hour delays, no pre-existing conditions)
  • Travelex Essential at $62: broader cancellation coverage than Tin Leg Basic with 21-day review period, though lower $25,000 medical limits
  • Tin Leg Economy at $68 : comprehensive protection with job loss coverage (if employed 1+ years), pre-existing condition waiver available, and any-length delay coverage
Tin Leg
Basic
$43
$50,000
$200,000
Not Available
Travelex
Essential
$62
$25,000
$200,000
Not Available
Tin Leg
Economy
$68
$20,000
$100,000
Not Available
Travelex
Advantage
$80
$50,000
$250,000
Not Available
Travel Insured
Essential
$81
$50,000
$200,000
Included (within 14 days)

Quotes are based on basic travel insurance plans with a $2,500 international trip cost and single traveler who is between 20-50 years old

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TRAVEL INSURANCE TIP: WHAT IS CFAR ?

Cancel for Any Reason (CFAR) is an optional upgrade that lets you cancel your trip for any reason not covered by standard policies such as work conflicts or travel anxiety. Unlike standard trip cancellation that covers specific reasons like illness or weather, CFAR provides flexibility to cancel for any reason.

CFAR isn't cheap. It costs 40 to 50% more than your base premium, but it reimburses about 75% of non-refundable trip costs (versus 100% for standard covered reasons). You must purchase CFAR within 14 to 21 days of your initial trip deposit and cancel at least 48 hours before departure.

Cheapest Travel Insurance Plans: Comprehensive Coverage

The cheapest comprehensive travel insurance plans are offered from Tin Leg, World Nomads, and Seven Corners.  Comprehensive plans offer $100,000 to $150,000 medical coverage and $250,000 to $1 million evacuation limits. 

Cheapest comprehensive travel insurance plans:

  • Tin Leg Platinum at $61
  • World Nomads Standard at $81
  • Seven Corners Basic at $81
Tin Leg
Platinum
$61
$100,000
$500,000
Optional - 75%
Included (within 14 days)
World Nomads
Standard
$81
$100,000
$500,000
Not Available
Included (within 14 days)
Seven Corners
Basic
$81
$100,000
$250,000
Optional - 75%
Included (within 14 days)
Nationwide
Prime
$85
$150,000
$1,000,000
Available
Included (within 14 days)
Tin Leg
Luxury
$86
$100,000
$250,000
Optional - 75%
Included (within 21 days)

Quotes are based on comprehensive travel insurance plans with a $2,500 international trip cost and single traveler who is between 20-50 years old

The cheapest travel insurance plan is not always the best option.  Consider the different travel coverage options for each:

  • Choose Tin Leg Platinum ($61) for: maximum evacuation coverage ($500,000), primary medical coverage (instead of secondary, meaning it covers medical issues before your health insurance), and CFAR (cancel for any reason) availability at the lowest price.
  • Choose World Nomads Standard ($81) for: adventure activities and remote destinations, though it lacks CFAR options and offers only secondary medical coverage.
  • Choose Seven Corners Basic ($81) for: CFAR availability with standard coverage, but has a lower $250,000 evacuation limit versus competitors' $500,000.

Cheapest Travel Insurance Plans: Premium Coverage

The cheapest premium travel insurance plans are offered by Travel Insurance, World Trips, and Tin Leg. The plans remain affordable give you exception medical coverage and up to $1 million evacuation limits starting at $91.  All plans offer CFAR as an optional add on coverage. 

Cheapest premium travel insurance plans:

  • Travel Insured Deluxe at $91 (tied for cheapest)
  • World Trips Elevate at $91
  • Tin Leg Gold at $92
Travel Insured
Deluxe
$91
$250,000
$500,000
Optional - 75%
Included (within 14 days)
World Trips
Elevate
$91
$250,000
$1,000,000
Available
Included (within 14 days)
Tin Leg
Gold
$92
$500,000
$500,000
Optional - 75%
Included (within 14 days)
Travelex
Ultimate
$92
$250,000
$1,000,000
Available
Included (within 14 days)
Travel Insured
Platinum
$113
$500,000
$1,000,000
Optional - 75%
Included (within 14 days)

Quotes are based on premium travel insurance plans with a $2,500 international trip cost and single traveler who is between 20-50 years old.

Cheapest Travel Insurance Companies

In the tables above, we analyzed the cheapest travel insurance plans.  Below are the cheapest insurance travel insurance companies by age group.  Tin leg is the cheapest average travel insurance cost for young travelers, World Nomads is cheapest for those 65 and under, and Travel Insured is cheapest for those 75-years old.  Here are the cheapest travel insurance companies for average trip cost of $5,000: 

Cheapest Travel Insurance Companies for Age 20-50:

  1. Tin Leg: $152 average (across 7 plans)
  2. Seven Corners: $152 average (2 plans)
  3. Generali Global Assistance: $152 average (3 plans)
  4. AXA: $162 average (3 plans)
  5. World Nomads: $167 average (3 plans)

Cheapest Travel Insurance Companies for Age 65:

  1. World Nomads: $167 average (same as young adults)
  2. Generali Global Assistance: $320 average
  3. Seven Corners: $350 average
  4. Travel Insured: $380 average
  5. AXA: $420 average

Cheapest Travel Insurance Companies for Age 75:

  1. Travel Insured: $480 average
  2. Seven Corners: $520 average
  3. Generali Global Assistance: $580 average
  4. AXA: $650 average

How to Get the Cheapest Travel Insurance

Getting cheap travel insurance takes more than just looking at prices. Use these simple tips to get the best coverage for less money.

  1. 1

    Compare quotes across multiple insurers for the same trip

    Cost differences are big when comparing rates from different companies.  Our analysis shows the cheapest company charges $167 while the most expensive charges $594 for identical $5,000 coverage. Shopping around saves hundreds of dollars.

  2. 2

    Buy within 14 to 21 days of your initial trip deposit

    This unlocks pre-existing condition waivers at no extra cost and ensures access to time-sensitive benefits like Cancel for Any Reason (CFAR) coverage.  While buying early doesn't mean your policy will be cheaper, you will get more features for the same price.

  3. 3

    Focus on medical and evacuation coverage limits

    These represent your biggest financial risks abroad. A plan with $100,000 medical coverage for $61 provides better value than $25,000 coverage for $59, even if the cheaper option appears more affordable.

  4. 4

    Consider your existing coverage

    Travelers with excellent health insurance and credit card trip protection can choose cheaper basic travel insurance. Those without strong health coverage should invest in comprehensive options.

  5. 5

    Compare across coverage tiers

    Our analysis shows comprehensive plans sometimes cost just $18 more than basic coverage while delivering significantly better protection. Premium plans can be cheaper than comprehensive plans when insurers.

  6. 6

    Avoid annual policies unless you take 2+ trips yearly

    Single-trip policies are cheaper for occasional travelers, despite annual plans' apparent convenience.

Cheap Travel Insurance: Red Flags to Avoid

Extremely low prices often hide coverage limitations that leave you financially exposed when you need protection most. Watch for these warning signs when evaluating budget travel insurance options.

  1. 1

    Medical coverage below $50,000

    Plans offering $10,000 to $25,000 medical limits create gaps for serious emergencies.

  2. 2

    Secondary travel medical coverage

    Secondary coverage only pays after your primary health insurance processes claims, creating paperwork delays and potential out-of-pocket costs abroad. Primary coverage pays immediately.

  3. 3

    No pre-existing condition waivers available

    Plans that exclude pre-existing conditions entirely, rather than offering waivers for early purchase, provide inadequate protection for travelers with any medical history.

  4. 4

    Excessive exclusions for common travel activities

    Some cheap plans exclude rental car coverage, missed connections, or standard recreational activities to keep costs low. Read the fine print carefully.

  5. 5

    Trip cancellation coverage with unrealistic restrictions

    Plans that require 48+ hour delays or exclude job loss provide limited real-world protection. Slightly more expensive options include broader cancellation reasons.

Cheapest Travel Insurance: Bottom Line

The cheapest travel insurance starts at $43 for basic coverage, but spending just $18 more gets you comprehensive protection with higher medical and evacuation limits. The cheapest travel insurance plans are from Tin Leg, Seven Corners, Generali, AXA, World Nomads, and Travel Insurance, depending on the coverage level that matches your needs. 

Comparison shopping saves hundreds of dollars, with identical coverage ranging from $167 to $594 depending on the company. The key is matching your coverage needs to your actual risks rather than automatically choosing the cheapest option, since basic plans often exclude job loss, pre-existing conditions, and flexible cancellation reasons that matter for real-world protection.

FAQs About Cheap Travel Insurance

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