How much does travel insurance cost?
Summary
Travel insurance typically costs 4% to 8% of a trip’s total price, with SquareMouth reporting an average of about 6%. The price depends on factors such as trip cost and length, traveler age, and the coverage selected.Key Facts
- SquareMouth estimates the average plan costs about $600 for a $10,000 trip.
- SquareMouth reported that average travel insurance prices rose almost 8% over the past year.
- The U.S. Travel Insurance Association says policies generally cost $40 to $80 per $1,000 in trip expenses.
- SquareMouth listed an average cost of $456 for comprehensive coverage and $87 for travel medical coverage.
- Cancel for Any Reason coverage averaged $246 as an add-on to a base plan.
- SquareMouth listed average annual costs of $401 for medical-only coverage and $523 for comprehensive coverage.
- Insurance usually costs more for older travelers, longer trips, and trips with higher total expenses.
- Medical-only and single-trip policies can cost less than comprehensive or annual plans.
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