How Much Does Travel Insurance Cost?
Last updated: July 2, 2026 by the How Much Does That Cost? editorial team. Estimates are informational - see our methodology.
Travel insurance costs $150 to $700 per trip, averaging around $350 — typically 4% to 10% of your total trip cost, depending on coverage level, trip cost, traveler age, and destination. A basic cancellation-and-medical plan for a modest domestic trip can run under $100, while comprehensive coverage with Cancel For Any Reason (CFAR) on an expensive international trip can exceed $1,500.
Most policies are priced against your total non-refundable trip cost rather than a flat rate, so the same coverage tier costs more to insure a $10,000 trip than a $2,000 one. The calculator below estimates your premium based on coverage tier and trip cost bracket.
Quick Answer
Typical range: $150 – $700
Low end
$50
High end
$1,500+
Actual pricing varies by location, project size, materials, labor rates, and job complexity. Use the calculator below for an estimate tailored to your project.
Travel Insurance Cost Calculator
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Estimated Project Cost
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Typical estimate: —
This is an estimate, not a quote. Actual pricing depends on your specific project details and local contractor pricing.
Cost Breakdown
How a typical project budget breaks down by category.
| Category | Estimated Cost |
|---|---|
| Trip cancellation & interruption coverage | $80 – $320 |
| Emergency medical & dental coverage | $35 – $180 |
| Emergency medical evacuation coverage | $20 – $130 |
| Baggage, travel delay & other benefits | $15 – $70 |
What Affects the Cost
Coverage tier
Basic plans cover trip cancellation and modest emergency medical needs. Comprehensive plans add higher medical and evacuation limits plus baggage protection, and adding Cancel For Any Reason (CFAR) raises the premium substantially further.
Total trip cost
Premiums are usually priced as a percentage of your insured, non-refundable trip cost, so a $10,000 trip costs meaningfully more to insure than a $2,000 one at the same coverage tier.
Traveler age
Emergency medical coverage costs rise significantly for older travelers, especially those over 65-70, since medical claims are statistically more likely and more expensive at that age.
Destination
International trips, especially to countries with expensive private healthcare or limited medical infrastructure, typically cost more to insure than domestic U.S. travel because emergency medical and evacuation costs abroad can be far higher.
Pre-existing medical conditions
A pre-existing condition exclusion waiver is available on many plans, but usually only if you buy the policy within 14-21 days of your first trip deposit — buying later can mean losing that waiver or paying more.
Single-trip vs. annual multi-trip policy
Frequent travelers can often save by buying one annual multi-trip policy instead of a separate single-trip policy for each trip, though annual plans usually have lower per-trip cancellation coverage limits.
Cost by Total Trip Cost
| Total Trip Cost | Typical Cost |
|---|---|
| $1,000 trip | $40 – $160 |
| $2,500 trip | $100 – $400 |
| $5,000 trip | $200 – $800 |
| $10,000 trip | $400 – $1,600 |
| $20,000 trip | $800 – $3,200 |
DIY vs. Hiring a Professional
Doing it yourself
Comparing quotes yourself on an independent marketplace like Squaremouth or InsureMyTrip takes just a few minutes, lets you compare dozens of underwriters side by side, and often turns up better coverage for less than a single default plan.
Hiring a professional
Buying the plan offered by your travel agent or tour operator at checkout is more convenient and matches your specific itinerary automatically, but you're only seeing one insurer's offer and may end up paying more for comparable coverage.
Bottom line: Spend a few minutes comparing at least three quotes on an independent comparison site before accepting the plan offered at checkout — the savings for equivalent coverage are often significant.
Ways to Save
- Buy your policy within 14-21 days of your first trip deposit to unlock a pre-existing condition waiver without paying extra later.
- Compare quotes across multiple insurers on an independent marketplace instead of buying the first plan offered at checkout.
- Buy an annual multi-trip policy instead of separate single-trip plans if you travel more than 2-3 times a year.
- Skip Cancel For Any Reason coverage if your likely reasons for cancelling are already covered under standard cancellation terms.
- Insure only the non-refundable portion of your trip rather than the full advertised trip cost.
- Check your credit card's built-in travel insurance benefits before buying a separate policy — many cards already include some trip cancellation and rental car coverage.
How We Estimated This Cost
We model each calculator from public price ranges, labor data, material pricing, industry surveys, and the regional adjustment method explained in our methodology. Estimates are reviewed for consumer usefulness, then shown as ranges because local quotes, site conditions, materials, and timing can change the final price.
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Frequently Asked Questions
How much does travel insurance typically cost?
Travel insurance typically costs 4% to 10% of your total trip cost, averaging around $350 for a moderate-cost trip, with basic plans on the lower end and comprehensive or CFAR plans on the higher end.
Is travel insurance worth it?
For any trip with significant non-refundable costs, international travel, or activities not covered by your regular health insurance, most travelers find the cost worthwhile relative to the financial risk of a cancelled trip or medical emergency abroad.
What is Cancel For Any Reason (CFAR) coverage and how much does it add?
CFAR lets you cancel for a reason not otherwise covered by your policy and still get reimbursed 50-75% of your trip cost. It typically adds 40-60% to the base premium and must be purchased within 14-21 days of your first trip deposit.
Does travel insurance cover medical expenses abroad?
Comprehensive plans include emergency medical and medical evacuation coverage, which is especially important internationally since U.S. health insurance and Medicare typically provide little to no coverage outside the country.
How soon do I need to buy travel insurance to get pre-existing condition coverage?
Most insurers require you to purchase your policy within 14 to 21 days of making your first trip payment or deposit to qualify for the pre-existing condition exclusion waiver.