How Much Does Travel Insurance Cost? Average Rates in 2026

Basic plans average $125 for a $5,000 trip, comprehensive plans average $227 and premium plans average $345 (coverage tier changes the price). The $102 difference between basic and comprehensive buys 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): Medical coverage is capped at $25,000 to $50,000. These plans are well-suited to domestic trips or travelers with strong existing health insurance, but do not cover serious emergencies.
• Comprehensive plans ($227 average): These provide $100,000 to $150,000 in medical coverage and up to $1 million in evacuation coverage. The additional $102 over basic coverage delivers stronger international trip protection.
• Premium plans ($345 average): Medical coverage reaches $250,000 or more and includes optional cancel for any reason benefits. These plans are worth the added cost for expensive trips, adventure activities or travelers over 70.

A $2,500 trip costs about $98, or 3.9% of trip cost. A $50,000 trip costs $1,450, which works out to 2.9%. Travel insurance costs a smaller share of your trip as spending increases.

Seniors pay roughly double what younger travelers pay at every price point, with the difference closing slightly on higher-cost trips.

Young travelers pay 2.9% to 3.9% of their trip cost. Seniors pay 5.8% to 7.9%. Expensive trips cost proportionally less to insure than multiple smaller ones, where a $50,000 vacation costs less per dollar than several $5,000 trips.

For a $5,000 trip, plans with $50,000 in medical coverage cost $65 to $230, and plans with $500,000 in coverage cost $229 to $459. Medical coverage limits affect your premium more than most travelers realize. The table below shows how medical and evacuation limits change your rate.

Seniors and adventure travelers should get at least $100,000 in medical coverage. Serious complications abroad can exceed $50,000 fast, and most domestic health plans pay little outside the US and require upfront payment before reimbursing.

Age affects your rate. Seniors pay more because of higher medical risks and more frequent claims. A 65-year-old pays $394 for a $5,000 trip, and a 30-year-old pays $201. By age 75, that jumps to $552.

Travel insurance pricing works differently for seniors than for younger travelers. Age multipliers vary widely across insurers, so comparing quotes from multiple companies matters more at this stage.

World Nomads charges flat rates regardless of age, but others apply steep age-based multipliers. For seniors, comprehensive medical coverage is worth the higher premium because emergency treatment abroad regularly exceeds basic policy limits.

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

Developed countries with good 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, and that raises your premium.

Cancel for any reason (CFAR) coverage adds 40% to 60% to the base premium. The added cost runs $72 for a $2,500 trip or $90 for a $5,000 trip, but CFAR reimburses only 75% of trip costs when cancellation occurs.

CFAR is the stronger option for expensive trips. On a $20,000 trip, paying $408 extra could return $15,000 when cancellation occurs for non-covered reasons. On a $2,500 trip, $72 spent recovers $1,875. That trade-off justifies the cost only when the likelihood of canceling reaches 3.8% or higher.

Annual travel insurance costs $62 to $722 per year depending on trip cancellation limits. A plan with $1,250 in limits costs $148, and a $10,000 limit plan costs $722. Both cover unlimited trips with individual trip limits of 30 to 45 days.

The math favors annual plans at two or more trips per year. A single $5,000 trip costs around $200 for comprehensive coverage. An annual plan with $5,000 in limits costs $362 and covers every trip you take. Three trips in a year saves $238 to $358 compared to buying separate policies.

Age and trip cost are the two biggest factors that affect price. A 65-year-old pays roughly double what a 30-year-old pays for the same coverage. Destination adds up to 45% for high-risk countries, medical coverage limits can shift premiums by up to 99% and longer trips add 10% to 15% to the base rate.

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

1. Coverage tiers, not just companies, should be compared. Comprehensive plans sometimes run only $102 more than basic coverage but provide meaningfully stronger protection across medical, evacuation and cancellation limits.
2. Annual policies are worth considering for multiple trips. Annual coverage breaks even at 1.8 trips per year and generates $238 to $358 in savings relative to purchasing separate policies for each trip.
3. CFAR should be evaluated carefully before being added. It increases the premium by 40% to 60% but reimburses only 75% of trip costs. Standard comprehensive coverage addresses most cancellation scenarios at 100% reimbursement.
4. Medical limits should align with the travel profile. Healthy travelers with strong domestic coverage can stay at $50,000, while seniors and adventure travelers require $100,000 or more.

MoneyGeek gathered quotes for single travelers, couples and families on trips costing $2,500 to $50,000. Age groups covered travelers at 20, 30, 40, 50, 65 and 75 to show how premiums shift across age brackets.

Coverage Tiers

The analysis covered 42 plans across three tiers defined by medical coverage limits and evacuation benefits:

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

Scenarios 

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.