Travel Insurance: Compare Plans, Costs and Coverage

Trip cancellation reimburses 100% of nonrefundable costs if you can't travel for covered reasons like illness, job loss or severe weather. Standard plans cover 10 to 15 specific reasons and require documentation. Cancel for any reason (CFAR) coverage lets you cancel for virtually any reason and recover 50% to 90% of costs. See our CFAR guide for plan-level details and purchase deadlines.

Trip interruption pays for your unused trip days plus return costs if you come home early. You'll want this for trips over $5,000 or longer than two weeks. If you paid $3,000 for 10 days but came home after six days, you'd get roughly $1,200 back for the four unused days.

Emergency medical coverage ranges from $25,000 to $1 million. Get at least $100,000 for basic trips and $250,000 or more if you're planning adventure activities. Primary coverage pays first, before your health insurance kicks in. Secondary coverage only pays after your primary insurer, which means filing two claims and waiting longer for reimbursement.

Emergency evacuation transports you to proper medical facilities when local care isn't adequate. This matters most in remote areas or developing countries where a medical flight can cost $50,000 to $150,000. Look for at least $500,000 in evacuation coverage, with $1 million preferred for destinations with limited medical infrastructure.

Travel insurance excludes pre-existing medical conditions unless you buy coverage within 10 to 21 days of your initial trip deposit and you're medically stable at purchase. Lookback periods vary from 60 to 180 days. Buy early if you have any health concerns.

Adventure sports like scuba diving and skiing often require additional premiums or upgraded plans. Check your policy documents to verify coverage before booking activities. Baggage coverage protects lost or stolen items with $500 to $4,000 limits and per-item caps, but you'll need receipts and police reports for theft claims. Skip extra baggage coverage if your trip costs under $5,000 and you're not traveling with expensive gear.

Travel insurance costs vary widely by company for identical coverage. Get three to five quotes before buying. The biggest price factors are trip cost, your age, destination, number of travelers and coverage terms.

Age matters most for travelers over 65. A 75-year-old pays 3 to 5 times more than someone aged 20 to 50 for the same coverage. Trip cost affects pricing too, but insurance costs drop as a percentage when trip costs increase. You'll pay 12% to 18% for a $2,500 trip but only 8% to 12% for a $10,000 trip.

Travel insurance costs stay relatively flat until age 50. Seniors pay more due to higher medical risk, with the biggest increases after age 70. For company-specific picks, see the guide to best travel insurance for seniors.