travel insurance calculator

June 1, 2020

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How to Calculate Trip Cost for Travel Insurance: The Simple Guide

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Popular Travel Insurance Plans

• Annual Travel Insurance
• Cruise Insurance
• Domestic Travel Insurance
• International Travel Insurance
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Terms, conditions, and exclusions apply. Please see your plan for full details. Benefits/Coverage may vary by state, and sublimits may apply.

Insurance benefits underwritten by BCS Insurance Company (OH, Administrative Office: 2 Mid America Plaza, Suite 200, Oakbrook Terrace, IL 60181), rated “A” (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: 9950 Mayland Drive, Richmond, VA 23233), rated “A+” (Superior) by A.M. Best Co., under Jefferson Form No. 101-C series or 101-P series, depending on your state of residence and plan chosen. A+ (Superior) and A (Excellent) are the 2nd and 3rd highest, respectively, of A.M. Best's 13 Financial Strength Ratings. Plans only available to U.S. residents and may not be available in all jurisdictions. Allianz Global Assistance and Allianz Travel Insurance are marks of AGA Service Company dba Allianz Global Assistance or its affiliates. Allianz Travel Insurance products are distributed by Allianz Global Assistance, the licensed producer and administrator of these plans and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage due to the affiliation between AGA Service Company and Jefferson Insurance Company. Plans include insurance benefits and assistance services. Any Non-Insurance Assistance services purchased are provided through AGA Service Company. Except as expressly provided under your plan, you are responsible for charges you incur from third parties. Contact AGA Service Company at  800-284-8300 or 9950 Mayland Drive, Richmond, VA 23233 or [email protected] .

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How Much Is Travel Insurance in 2024?

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Table of Contents

Average cost of travel insurance by trip cost

Factors that affect travel insurance cost, more example costs of travel insurance, types of travel insurance, how to buy travel insurance, credit cards with travel insurance, cost of travel insurance recapped.

According to NerdWallet analysis, the short answer to “How much does travel insurance cost?” is that it’s typically 7% of your overall trip cost. For example, travel insurance will cost you an additional $70 (roughly) for a $1,000 trip.

However, depending on your provider, travel insurance costs can range from 4%-16% of your trip cost. That means for that $1,000 trip, you might find coverage for as little as $40 or up $160 on the high end.

Costs vary across providers, level of coverage and factors like your age and destination. Let’s take a look at the different types of travel insurance, what influences its cost and the average cost of travel insurance.

The Nerds dove deep into over 50 real world coverage price points to get a clearer sense of typical travel insurance costs in 2024.

On average, travelers should expect to pay 6.87% of their total trip cost for travel insurance. The minimum you might expect to pay is 4.15%, but it can go as high as 15.8%.

How did we determine these ballpark travel insurance prices?

We broke it down by looking at four individual providers' cheapest basic plan and most expensive basic plan for two traveler age demographics: a 30 year old and a 60 year old.

The Texas-based travelers are taking a 10 day trip to Florida in the summer. Included providers in our analysis were:

Allianz Global Assistance .

Travel Guard by AIG .

USI Affinity Travel Insurance Services .

Travel Insured International .

World Nomads .

Berkshire Hathaway Travel Protection .

Travelex Insurance Services .

Seven Corners .

AXA Assistance USA .

TravelSafe .

HTH Insurance .

According to the U.S. Travel Insurance Association, a national association of insurance carriers, the amount you can expect to pay for travel insurance will vary between 4% to 8% of your overall trip. This falls in the general range of our analysis, too.

If your vacation was $5,000, you’d be looking at somewhere between $200 and $400 for insurance. NerdWallet findings corroborate this range, with the average travel insurance cost for a trip at this price point being about $350.

Of course, as we describe below, the type of coverage you choose can greatly affect the cost of your insurance.

» Learn more: What does travel insurance cover?

So, how much is travel insurance? Several factors will influence the cost, like:

Type and extent of coverage.

The length of your trip.

Your destination.

The age of the policyholder.

Total trip cost.

Let’s say that you chose to purchase an insurance policy to cover any health care expenses you incur while traveling. This will reimburse you in the event you need to see a doctor, require hospitalization or have a variety of needs related to health care.

However, let’s say that you also chose to insure some of your trip costs; this means that, if need be, the policy will reimburse you for nonrefundable trip costs in case of a covered event. This will drive up the price of your policy overall.

Another factor that will affect the cost of your travel insurance is the coverage limits of your policy. These limits dictate how much you’ll be reimbursed in the event you need to use your insurance; the higher the amount, the more expensive your insurance.

» Learn more: The best travel insurance companies

Here are some sample costs of travel insurance for a seven-day trip in the United States for two travelers ages 34 and 36. Full trip costs are estimated to be $2,000, and trip bookings have yet to be paid in full.

Policies include trip interruption coverage, travel delay coverage (up to $500) and emergency medical coverage.

In addition to the cost of travel insurance, we also need to talk about the different types of travel insurance. This is because the price you’ll pay will depend on the insurance you choose. Some policies — like those that allow you to cancel for any reason — can be more expensive than other, more limited, policies.

Common types of travel insurance include:

Lost luggage insurance .

Trip interruption insurance .

Trip cancellation insurance .

Rental car insurance .

Cancel For Any Reason insurance .

Health insurance .

Accidental death insurance .

Emergency evacuation insurance .

Different types of insurance will cover various things. Trip cancellation insurance, for example, will allow you to recoup a portion of nonrefundable costs when you’re forced to cancel your trip for a covered reason.

It’s simple to purchase travel insurance; you’ve probably seen dozens of ads for insurance whenever booking a flight or rental car.

However, it’s a better idea to get multiple quotes for policies. Insurance policy aggregators, such as Squaremouth, allow you to search a variety of different providers at once. You can then compare the coverage and price of each policy before choosing one that suits your needs.

» Learn more: What to know before buying travel insurance

If you’re looking into purchasing travel insurance, you may want to check which credit card you’re using to book your trip. Many of today’s popular travel credit cards offer complimentary travel insurance.

Cards such as the Chase Sapphire Preferred® Card offer primary rental car insurance; this means that the card will pay for any covered damage so that it doesn’t pass on to your personal insurance policy.

The types of insurance and total coverage vary according to the card, so you’ll want to check your individual policies.

Common coverage includes trip delay insurance, lost luggage insurance, rental car insurance and emergency medical insurance.

Popular cards that provide these types of coverage include:

Chase Sapphire Preferred® Card .

Chase Sapphire Reserve® .

Capital One Venture X Rewards Credit Card . (Benefits may change over time.)

The Platinum Card® from American Express . Terms apply.

United℠ Explorer Card .

In order to qualify for coverage, you’ll want to use your card to pay for any trip costs, including your airfare, lodging and rental cars.

The amount you’ll be reimbursed varies widely depending on which card you hold. For instance, the Chase Sapphire Preferred® Card provides coverage for up to $10,000 per person and $20,000 per trip for prepaid, nonrefundable travel expenses for covered trip cancellations.

Chase Sapphire Preferred® Card

These include airfare, accommodations and even tours.

The United℠ Explorer Card , meanwhile, offers far less coverage at just $1,500 per person and $6,000 per trip.

United℠ Explorer Card

$0 intro for the first year, then $95

Of course, your trip will need to fall under covered circumstances, including sickness and severe weather.

» Learn more: Does my Chase credit card have travel insurance?

It can make sense to purchase travel insurance, especially if you’re unsure about your vacation or worried about incurring expenses you can’t afford. Before buying a policy, you’ll first want to decide what type of insurance you’re looking to buy; some types of coverage cost much more than others.

You’ll also want to check to see if your credit card already provides complimentary travel insurance. Many popular travel cards offer this feature, though the limits may be lower than you might prefer.

Finally, do your homework before buying a policy. Gather quotes from multiple companies before making a decision, and remember the average price of trip insurance ranges from 4% to 8% of your total vacation costs.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

75,000 Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

75,000 Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.

1x-2x Earn 2X points on Southwest® purchases. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services, and select streaming. Earn 1X points on all other purchases.

50,000 Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

Find The Best Travel Insurance Policy For Your Needs & Avoid Costly Surprises!

Compare 2024's Best Travel Insurance Companies. Get Yourself Peace Of Mind.

Compare and Buy Travel Insurance

Standard single trip policies.

• The most popular and comprehensive travel insurance plan
• Covers cancellations, medical emergencies, delays, and luggage
• Protection from the time you purchase to the date you return

Annual / Multi Trip Policies

• Cost-effective option for travelers taking multiple trips a year
• Includes common medical, delay, and luggage benefits
• May require add-ons from trip cancellation or interruption

Cruise Insurance Policies

• Offers comprehensive trip protection on land and at sea
• Includes high travel medical insurance coverage limits
• Protects against hurricanes, inclement weather, and more

Adventure & Sports Policies

• Essential for travelers partaking in high-risk activities
• Provides protection for lost or delayed sports equipment
• Strong coverage for cancellations and medical emergencies

Compare and Save in Minutes

Whether you’re heading abroad or staying local, we make it easy to find the best travel insurance plan for your next adventure. No bias. No hidden fees. Just the best trip protection quotes from the country’s leading providers.

Tell us some basic information about your next trip. We’ll use these details to help narrow your search and show the plans that best fit your needs.

Easily see how plans from the best travel insurance providers compete on cost and coverage. Use filters and sort results to uncover the right plan for you.

Get peace of mind at the lowest possible price. We partner with leading providers to offer you the best policies at the best value, guaranteed.

Why Trust Squaremouth?

When selecting a travel insurance provider, it's crucial to compare options. Obtain quotes from three to five insurers to ensure the best coverage and value. While it may seem time-consuming, this process can result in significant savings.

That's why we're here – over the past two decades, our industry-leading comparison engine has helped millions of travelers find highly-rated insurance plans and protect their trip expenses.

Our industry-leading comparison platform , enriched by customer reviews, displays unbiased results based on your specific trip details. If you run into any trouble, our multi-award-winning customer service team is just a phone call away.

• Helped more than 3 million travelers
• 20+ years serving the travel community
• Intuitive & user-friendly comparison engine
• More plans and top-rated providers than the competition
• Prices are regulated by law; you won't find a lower price anywhere else
• Multi award-winning customer service team
• 140,000+ customer reviews

Save With Squaremouth

Squaremouth has helped more than 3 million travelers find the best policy for their trip.

Key Travel Insurance Benefits

Most trip insurance policies are comprehensive, including coverage for cancellations, medical emergencies, travel delays, and lost luggage, among other benefits.

What Coverage is the Most Important?

Squaremouth customer reviews.

More than 99% of customers would recommend Squaremouth to others. Read what a few of them had to say about their recent experience buying travel insurance.

Great Experience!

"The Squaremouth website is fantastic! It was very easy to select coverage and find and compare policies. Will recommend it to others."

Savannah from NC 03/26/2024

Great Coverage and Price

"Getting a travel insurance quote online was easy. We have used Squaremouth before and have been pleased each time. It's peace of mind for our travel needs."

Rhonda from IN 03/20/2024

Easy to Use!

"I always use Squaremouth simply because it is so easy to use and offers plans that are affordable to me."

Emily from AZ 03/08/2024

Very pleased!

"They give great service, and the website is so easy to navigate to find just the right insurance plan. I always appreciate working with them."

Don from UT 03/07/2024

The Squaremouth website is fantastic! It was very easy to select coverage and find and compare policies. Will recommend it to others.

Featured Articles

Our topic experts keep a constant pulse on the travel industry so we can provide the most current information and recommendations based on today's traveler needs.

What Type of Insurance Do I Need?

Plans can range in terms of cost and coverage, so it’s important to identify your specific needs before comparing options. Discover the different types of travel insurance policies you should consider for your upcoming trip.

How to Buy Travel Insurance on Squaremouth

If you’re new to Squaremouth, this quick guide can help you identify your needs, start your first quote, and compare your results. If you need additional help, our customer service team is just a phone call away.

Travel Insurance FAQs

Here are some of the most frequently asked questions from travelers like you.

Is Travel Insurance Mandatory for International Travel?

While rare, some countries or organized tours may require proof of travel insurance that lasts for the duration of your trip. Our Destination Center is a good starting point to learn about entry requirements and travel insurance recommendations.

While it is typically not mandatory, travelers should consider buying insurance if they want to protect themselves financially from unforeseen events that may impact their travel plans. Many Americans and U.S. residents purchase travel insurance when planning international or high cost trips. View our list of the top international travel insurance providers .

What Does Travel Insurance Cover?

Comprehensive travel insurance is designed to cover common disruptions that may impact a trip. Most policies will provide coverage for trip cancellations , medical emergencies , travel delays , missed connections , accidental death and dismemberment , and lost luggage . Travelers that experience financial loss as a result of a covered disruption may be eligible for reimbursement through their insurance policy.

How Much Does Travel Insurance Cost?

In general, a comprehensive policy with Trip Cancellation typically costs between 5% and 10% of the total trip cost. The cost of a policy depends on four primary factors: trip cost, traveler age, trip length, and coverage amounts. A policy without an insured trip cost will be significantly less expensive. We recommend comparing plans from multiple providers to find the best priced plan for your trip.

What Should I Look for When Comparing Travel Insurance?

There’s no one-size-fits-all policy when it comes to travel insurance. When comparing plans, you should consider the following:

• Benefits: Travel insurance benefits outline what situations are covered under each plan. Make sure each plan you’re considering includes coverage for what’s important to you.
• Coverage Limits: Plans will set limits to how much reimbursement you’re eligible for, and can vary significantly. Higher coverage limits can result in less out of pocket expenses in the event of a claim.
• Exclusions: Travel insurance companies will list specific activities, equipment, and scenarios that are not covered by their plans in the event of a claim.
• Premium: Higher priced insurance products do not always equate to better coverage. We recommend choosing the most affordable plan that offers the travel protection you need.
• Provider Reputation: All providers on Squaremouth have been carefully vetted and offer 24-Hour Assistance services. Customers are also encouraged to share honest reviews about their experience before, during, and after their trips.

Does Travel Medical Insurance Cover International Trips?

In many cases, primary health care plans, such as Medicare or a policy you have through your employer, are not accepted overseas. If you’re not covered, you may be responsible for unforeseen medical expenses if you get sick or injured while traveling.

To avoid out-of-pocket expenses if you need medical care in the event of an emergency, many travelers opt for travel medical insurance. These plans can cover the cost of treating unexpected medical conditions incurred during your international trip.

Are Pre-Existing Conditions Covered by Travel Insurance?

Coverage for pre-existing conditions varies among travel insurance policies. While many plans won’t offer coverage for existing injuries or illnesses, some plans may offer Pre-Existing Condition waivers if certain conditions are met, such as purchasing the policy within a specified time frame from booking the trip.

Will My Policy Cover Trip Cancellations?

Yes, many comprehensive travel insurance policies cover trip cancellations under specified circumstances, such as sudden illness, injury, or death of the insured or a family member, natural disasters, or unexpected work obligations. Most policies that include the Trip Cancellation benefit offer 100% reimbursement for all prepaid, non-refundable trip costs.

What’s the Difference Between Single-Trip and Annual Travel Insurance?

Single-trip travel insurance covers a specific journey for a set duration, offering protection for that trip only. This is the most popular type of travel insurance among Squaremouth users. In contrast, Annual Travel Insurance provides coverage for multiple trips within a year. Annual plans can be cost-effective for frequent travelers and less of a hassle than purchasing multiple single-trip plans.

What's the Process for Filing a Travel Insurance Claim?

To file a trip insurance claim, follow these steps:

• Contact your insurer: Notify them as soon as possible about the incident.
• Gather documentation: Collect relevant documents, such as police reports, medical records, or receipts for expenses incurred.
• Complete the claim form: Fill out the insurer's claim form with accurate details.
• Submit supporting documents: Attach all required documents to substantiate your claim.
• Keep records: Maintain copies of all submissions and correspondence for your records.
• Follow up: Stay in touch with the insurer for updates on your claim status.
• Be honest and thorough: Provide clear and truthful information to expedite the process.

Remember, the process may vary by insurer, so review your policy or contact your insurance provider for specific instructions. Learn more about what can be covered and how to file a travel insurance claim .

Where Can I Buy Travel Insurance?

Travelers can purchase travel insurance directly from providers, through a comparison site like Squaremouth, or directly through a travel supplier when booking. Credit cards and travel agents are other sources to consider. Travel insurance prices are regulated by law, meaning the price of one specific policy must be the same regardless of where it is sold, whether it’s purchased from Squaremouth or directly from the provider.