How Much Does Travel Insurance Cost? Rates by Company & Plan

Travel insurance costs vary by coverage tier. Basic plans average $125, comprehensive plans cost $227 and premium plans run $345 for a $5,000 trip. The $100 jump from basic to comprehensive buys significantly higher medical and evacuation limits.  For the lowest-priced plans, see our guide to the cheapest travel insurance.

Cost by Travel Insurance Coverage Category:

• Basic plans ($125 average): Cap medical coverage at $25,000 to $50,000. They're right for domestic trips or travelers with strong existing health insurance but leave gaps for serious emergencies.
• Comprehensive plans ($227 average): Provide $100,000 to $150,000 medical coverage and up to $1 million evacuation protection. The extra $100 over basic coverage delivers better international trip protection.
• Premium plans ($345 average): Max out at $250,000+ medical coverage and include optional cancel for any reason benefits. Worth the cost for expensive trips, adventure activities or travelers over 70.

Travel insurance gets cheaper as a percentage of trip cost. You'll pay 3.9% to insure a $2,500 trip but only 2.9% for a $50,000 trip, even though absolute costs rise from $98 to $1,450. Seniors pay double what younger travelers pay across all trip values, though the gap narrows slightly on expensive trips.

Young travelers pay 2.9% to 3.9% of their trip cost, seniors pay 5.8% to 7.9%. Here's the twist: expensive trips cost proportionally less to insure than multiple smaller ones. A $50,000 vacation costs less per dollar than several $5,000 trips.

Medical coverage limits change your price significantly. Plans with $50,000 medical coverage cost $65 to $230 for a $5,000 trip. Jump to $500,000 coverage and you're paying $229 to $459. Check the table to see how medical limits and evacuation coverage affect your rate.

Seniors and adventure travelers need at least $100,000 in medical coverage since complications abroad can easily blow past $50,000. Your regular health insurance usually covers very little internationally and makes you pay upfront, which is why travel medical coverage matters for emergencies.

Age affects your rate more than anything except trip cost. Insurers charge seniors more because of higher medical risks and more frequent claims. A 65-year-old pays $394 for a $5,000 trip while a 30-year-old pays $197. By age 75, that jumps to $552.

Shopping for travel insurance as a senior works differently than for younger travelers. Compare quotes from multiple companies since age pricing varies widely. Insurers like World Nomads charge flat rates regardless of age, while others use steep multipliers. Get comprehensive medical coverage since emergency treatments abroad often exceed basic policy limits.

Where you're going affects your price based on medical costs and evacuation difficulty. Low-risk destinations like Canada cost around $200. High-risk countries hit $290 (a 45% jump for the same coverage).

Developed countries with solid medical systems (Canada, U.K., Western Europe) stay around $200 to $215. Countries with limited medical facilities cost 37% to 45% more. India ($275), Brazil ($285) and Morocco ($290) need expensive medical evacuations, which drives up your premium.

Cancel for any reason (CFAR) coverage adds 40% to 60% to your base premium. You'll pay an extra $72 for a $2,500 trip or $90 for a $5,000 trip, but CFAR only reimburses 75% of trip costs if you cancel.

CFAR provides better value on expensive trips. On a $20,000 trip, paying $408 extra could return $15,000 if you cancel for non-covered reasons. For a $2,500 trip, you'd spend $72 to potentially recover $1,875, only worthwhile if you have a 3.8% or higher chance of canceling.

Annual travel insurance costs $62 to $722 per year based on trip cancellation limits. Plans with $1,250 limits cost $148, while $10,000 limits run $722. Each policy covers unlimited trips with individual trip limits of 30 to 45 days.

Annual plans break even at two trips per year. A single $5,000 trip costs $200 for comprehensive coverage, while an annual plan with $5,000 limits costs $362 and covers unlimited trips. Taking three trips saves you $238 to $358 annually.

Age and trip cost drive pricing most, with 65-year-olds paying double what 30-year-olds pay. Destination adds up to 45% for high-risk countries, medical coverage limits affect premiums by up to 99%, and trip length adds 10% to 15% for longer durations.

You can cut travel insurance costs without sacrificing coverage by timing your purchase right and matching your policy to your needs. 

1. Buy within 14 to 21 days of booking to unlock pre-existing condition waivers and CFAR eligibility at no extra cost. Wait longer and you lose these perks without saving any money.
2. Compare coverage tiers, not just companies. Comprehensive plans sometimes cost only $18 more than basic coverage but give you way better protection.
3. Go with annual policies if you take multiple trips. Annual coverage breaks even at just 1.8 trips per year, saving you $238 to $358 annually versus buying individual trip policies.
4. Skip CFAR unless you think you'll cancel. CFAR adds 40% to 60% to your premium but only gives you back 75% of trip costs. Regular comprehensive coverage handles most cancellations with 100% reimbursement.
5. Match medical coverage to your risk. Healthy travelers with good health insurance back home can stick with $50,000 limits. Seniors or adventure travelers need $100,000 or more.

We answer common questions about travel insurance costs, coverage and pricing:

Our Research Approach

Travel insurance pricing varies wildly between companies and coverage levels, making it hard to know if you're getting a fair deal. We analyzed over 1,500 quotes from 13 major insurers to show you what travel insurance costs across different ages, trip values and coverage options.

Research Scope

We gathered quotes for single travelers, couples and families across trip costs from $2,500 to $50,000. Age groups included travelers ages 20 to 50, 65 and 75 to capture how premiums increase with age.

Coverage Tiers

Our analysis covered 42 unique plans, categorizing them into three tiers based on medical coverage limits and evacuation benefits:

• Basic: $15,000 to $50,000 medical coverage
• Comprehensive: $100,000 to $150,000 medical coverage
• Premium: $250,000 or more medical coverage

These tiers help you compare apples to apples when shopping for coverage.

Scenarios Analyzed

We collected quotes for trips within the U.S. and abroad, plus specialized coverage like CFAR, annual plans, cruises and adventure sports. These are real September 2025 premiums, not estimates.

Calculation Method

We averaged all quotes in each category. For age pricing, we went straight to insurance companies instead of using industry averages. We checked rates in 30 countries to spot regional differences, so you know what to expect for your trip.