Take a look at our deep dive into the average cost of travel insurance in the U.S.
The average cost of travel insurance in the U.S. is $95, based on an AdvisorSmith study of over 50 travel insurance policies. This coverage is becoming more and more popular in the U.S., particularly as the pandemic disrupted travel plans in 2020, forcing many consumers to cancel or postpone planned trips. As travel ramps back up, Americans are more interested in protecting their travel plans, spurring high demand for travel insurance.
Average Cost of Travel Insurance
Travel insurance premiums vary widely depending on a number of factors, including the cost of the trip, number of travelers, traveler age, mode of travel, and more. In our study of more than 50 travel insurance policies, we found the average cost of travel insurance in the U.S. to be $95 for a one-week international trip. Prices did vary widely, however, depending on the insurer, and our analysis showed premiums ranging from a low of $39 to a high of $210.
|Insurer||Average Cost||Difference from Average|
|AIG Travel Guard Deluxe||$210||122%|
|AIG Travel Guard Essential||$156||65%|
|AIG Travel Guard Preferred||$175||85%|
|Allianz OneTrip Basic||$96||1%|
|Allianz OneTrip Prime||$125||32%|
|Allianz OneTrip Premier||$186||97%|
|Arch RoamRight Pro||$84||-11%|
|Arch RoamRight Pro Plus||$89||-6%|
|AXA Assistance Gold||$88||-7%|
|AXA Assistance Platinum||$108||14%|
|AXA Assistance Silver||$66||-30%|
|Berkshire Hathaway ExactCare||$57||-40%|
|Berkshire Hathaway ExactCare Extra||$61||-36%|
|Berkshire Hathaway ExactCare Value||$41||-57%|
|Berkshire Hathaway LuxuryCare||$90||-5%|
|Generali Global Assistance Preferred||$81||-15%|
|Generali Global Assistance Premium||$93||-2%|
|Generali Global Assistance Standard||$70||-26%|
|HTH TripProtector Classic||$102||8%|
|HTH TripProtector Economy||$90||-5%|
|HTH TripProtector Preferred||$128||35%|
|IMG iTravelInsured Travel Lite||$73||-23%|
|IMG iTravelInsured Travel LX||$159||68%|
|IMG iTravelInsured Travel SE||$83||-12%|
|John Hancock Bronze||$94||-1%|
|John Hancock Gold||$141||49%|
|John Hancock Silver||$102||8%|
|MH Ross Asset||$87||-8%|
|MH Ross Bridge||$113||19%|
|Seven Corners RoundTrip Basic||$80||-15%|
|Seven Corners RoundTrip Choice||$123||30%|
|Tin Leg Adventure||$75||-21%|
|Tin Leg Economy||$41||-57%|
|Tin Leg Gold||$92||-3%|
|Tin Leg Luxury||$54||-43%|
|Tin Leg Standrad||$49||-48%|
|Travel Insured International Worldwide Trip Protector||$146||54%|
|Travel Insured International Worldwide Trip Protector Lite||$92||-3%|
|Travelex Travel Basic||$76||-20%|
|Travelex Travel Select||$105||11%|
|Trawick International Safe Travels Explorer||$53||-44%|
|Trawick International Safe Travels First Class||$76||-19%|
|Trawick International Safe Travels Journey||$66||-30%|
|Trawick International Safe Travels Single Trip||$62||-34%|
|Trawick International Safe Travels Voyager||$91||-4%|
|USI Affinity Diamond||$116||23%|
|USI Affinity Ruby||$96||1%|
In order to better understand how different variables—including the number of travelers, traveler age, trip cost, and coverage level—impact the premiums you end up paying, we conducted a study using quote estimates from a variety of insurers. We used a sample traveler profile for our study, which was a 30-year-old male traveler residing in California and traveling to the United Kingdom for a one-week trip with a total cost of $2,500.
Average Cost of Travel Insurance by Trip Cost
The total cost of your trip will be a main driver in determining the price of your travel insurance premiums. The higher the cost of your trip, the more you’re likely to pay in premiums as any claims you’ll file will have a higher chance of being costlier than for a lower-priced trip.
In our analysis, we found that premiums generally fell between 4% and 5% of the total cost of your trip. Below you’ll find the average premiums broken down by the total cost of the trip.
|Trip Cost||Average Premium Cost||Premium % of Trip Cost|
Average Cost of Travel Insurance by Age
Depending on your age and the ages of those traveling with you, your insurance premiums can vary widely. Generally, younger travelers can expect to pay less, while older travelers can expect to pay more, with travelers over the age of 60 seeing large jumps in cost. This can be attributed in part to the fact that older travelers are at higher risk of becoming injured or ill on a trip.
In our analysis, we found average prices differed from a low of $92 for a young child to a high of $805 for a centenarian. Below you’ll find average costs broken down by age.
Average Cost of Travel Insurance by Number of Travelers
The number of travelers on your trip also plays a large role in the pricing of travel insurance. As you can expect, the more people on your trip, the higher the risk. And if you have older travelers with you on your trip, your premiums will likely be higher. If you are a group of young, healthy travelers, it’s likely your premiums will be lower.
Below you’ll find our analysis of the average cost of travel insurance for travelers of varying group sizes.
|Number of Travelers||Average Cost|
|One adult, 1 child||$122|
|One adult, 2 children||$148|
|Two adults, 1 child||$156|
|Two adults, 2 children||$167|
|Two adults, 3 children||$193|
Average Cost of Travel Insurance by Coverage Level
Travel insurance plans offer different bells and whistles depending on the insurer and on the particular plan you select. Some plans are more comprehensive than others, and as expected, more comprehensive plans will cost more. Generally, insurers will offer a few types of plan packages, in addition to various add-ons you can add to supplement your coverage.
Below is a breakdown of the average cost of travel insurance by coverage level. We took a look at basic, mid-level, and full coverage offerings. While the plans varied depending on the insurer, they primarily differed by sublimits and covered risks.
|Coverage Level||Average Cost|
What’s covered by travel insurance and what’s not?
Travel insurance coverage differs significantly depending on the insurer and the particular coverage you purchase. Each insurer has a variety of options and endorsements that you can add to your policy and packages the policies differently, so when shopping for travel insurance, you’ll need to closely examine exactly what the insurer is offering.
Generally, travel insurance offers coverage for the following:
- Trip cancellations or interruptions
- Travel delays or flight cancellations
- Lost, stolen, damaged, or delayed baggage
- Medical expenses
- Emergency medical evacuation
- Rental car coverage
- Hotel or cruise ship protection
In terms of exclusions, travel insurance typically does not cover pre-existing health conditions and activities that are deemed risky.
More recently, many travelers have been wondering if travel insurance covers COVID-19. Most travel policies won’t provide coverage for trip cancellation due to fear of travel or if your trip is canceled due to a government body, health authority, or travel supplier restricting or canceling travel due to COVID-19. However, if you fall ill due to COVID-19 prior to your departure, many insurers will cover trip cancellation. Additionally, if you contract COVID-19 on your trip, most insurers treat this as any other illness, offering medical and emergency coverage.
What determines the cost of travel insurance?
Travel insurance pricing can vary widely depending on a number of variables. Your best bet is to understand the type and level of coverage you’re looking for and gather quotes from a variety of insurers. To better understand what impacts the premium you’re quoted, the following are a few factors that affect travel insurance cost:
- Trip cost. The more your trip costs, the more it will cost to insure, given that your claims are likely to be costlier for a more expensive trip.
- Coverage limits. As with other types of insurance, the higher your limits, the higher your premiums will be, as the insurer has a higher chance of paying out more for a given claim.
- Deductible. The deductible amount is what you’ll need to pay out-of-pocket on a claim before the insurer starts to provide coverage. Generally, the higher the deductible you choose, the lower your premium will be.
- Coverage options. Many insurers offer a bevy of add-on options, including cancel for any reason (CFAR) coverage, rental car coverage, and more. Premiums will increase as you add on more options.
- Traveler age. The older the traveler, the higher the cost of travel insurance. This is to account for the fact that older travelers are at higher risk of becoming ill or injured on a trip.
- Number of travelers. The more travelers on your trip, the higher the cost to insure.
- Length of trip. The longer your trip, the higher your premiums will be. Longer trips mean a higher chance for a claim.
AdvisorSmith used quote estimates from 53 different travel insurance policies in order to determine average costs for travel insurance. Quote estimates also made use of various sample traveler profiles.
For the main sample traveler profile, we used a 30-year-old male traveler in good health, planning to travel by direct flight to the United Kingdom from California on a 1-week vacation. In order to determine how other variables factored into premium costs, we used multiple traveler profiles that varied by age, number of total travelers, and trip cost.