Travel Insurance Cost 
  How Much Should You Pay?

Travel insurance cost is roughly calculated to be about 5% - 7% of the total amount of the travel components you prepay before you begin your trip.

For instance, if you buy travel insurance to cover a prepaid tour, you can expect to pay roughly 5% - 7% of the total cost of your tour to protect you from loss, if you're not able to travel.

If you're flying to Europe and plan to rent a car and drive around on your own, you can anticipate pay-ing the same percentage amount for your prepaid car rental, hotels, or local tours, that you pay before you travel.

For each travel component you pay in advance [that will not be refunded, if not used], your travel insurance cost will be in this approximate range.

Depending on the type of travel insurance coverage you purchase, your travel funds will be protected, if you become ill overseas - or some other situation occurs - that prevents you from completing your trip.


  • if your travel is not dangerous,
  • if you’re in reasonably good health,
  • if you’re traveling to a stable part of the world, and
  • if you purchase some form of comprehensive travel insurance,

you can expect the cost of your travel insurance coverage to fall within this 5 -7 percent range.

Comprehensive insurance is another name for a 'package' of standard travel insurance plans.

This 'package' plan should include some form of international travel medical insurance, trip cancellation insurance, trip interruption or delay insurance, and at least a small amount of travel baggage insurance to protect your belongings.

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Of course, travel insurance costs can increase drama-tically when you move out of the 'standard' range of covered options. 

For instance, if you choose ski travel insurance, back-packer insurance, senior travel insurance, or cover-age for a pre-existing health condition, you can expect to pay more. 

If you choose to buy travel insurance that allows you to cancel your trip for any reason, you will pay more for your travel insurance coverage.

Or, if you happen to be an older traveler [on the plus side of 60-65], and you have an existing health condition you want to insure, your travel insurance cost could rise to as much as 10%-12% of the cost of your trip.  

Conversely, children under 17 years of age are often covered for free when traveling with a covered adult - or pay only a small fraction of the adult cost.

How Can You Lower Travel Insurance Cost?

It’s neither smart nor fiscally prudent to not buy travel insurance just to save a few dollars. 

Especially when what’s at risk could be your health, your personal safety, and perhaps thousands of dollars of prepaid travel expense.

It's possible to cover yourself for a potential loss, yet still lower your travel insurance cost by following these simple guidelines:

  • Purchase travel insurance at the appropriate time, according to the requirements set by travel insurance companies. 
  • Always research and compare travel insurance plans and polices. Make sure you understand what you're buying. [The reason some travelers complain that travel insurance policies don’t pay is because they fail to educate themselves and purchase incorrect coverage.]
  • Know the limits of your travel insurance plan. Make sure you understand what is covered, and is not covered.
  • Abide by the provisions of your travel insurance coverage. Travel insurance is real insurance. Just like your auto or homeowner’s policy, you must follow travel policy guidelines to file a successful claim.

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  • Don't purchase more travel insurance than you need. Cover only your actual trip costs, especially any amounts you prepay - but nothing that's refundable. Insurance won't pay for losses that will be refunded to you.
  • Never include incidental expenses or anticipated costs, when buying travel insurance. These amounts won't be covered and attempting to claim them as a loss may invalidate an otherwise legitimate claim.
  • Lower travel insurance cost by choosing a high deductible plan for international medical coverage. Or consider purchasing medical travel insurance only to cover a pre-existing condition, especially if it's life-threatening or would impact recovery from another illness or accident.
  • If you travel several times a year, consider annual travel insurance or a multi-trip plan. For families traveling together, look for plans known as annual family travel insurance.

What About Low Cost Travel Insurance?

One option for lowering travel insurance cost, yet not exposing yourself to the risk of having no insurance at all, is to buy comprehensive travel insurance [as noted above].

This insurance 'package' is adequate for the majority of overseas travelers with non-risky itineraries, visiting stable destinations.

By combining different types of coverage into a package plan, you can purchase relatively low cost travel insurance, yet still protect your health, your belongings, and your travel funds.

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Another way to reduce travel insurance cost is to always buy travel insurance online.

To buy insurance online, search for sites known as travel insurance aggregators, who represent multiple insurance sellers in one easy-to-use marketplace.

These one-stop shops provide details and information on policies from well known insurance companies.

You can compare insurance plans, read the FAQs, and chat with an agent for answers to specific questions.

You can also select optional 'add-on's for individual travel needs, creating your own personal plan for low cost travel insurance.

Look for a policy that offers 24-hour access to an English speaking agent.

This allows you to speak directly with a rep-resentative, if you need help for a covered situation, have questions, or want advice on how to use the insurance.

Buying travel insurance is a smart decision. The cost of travel insurance is just one of the many factors to consider, when making sure your travel investment is protected.

Should you buy travel insurance?

It all depends on the risk you can tolerate and the gamble you're willing to take.

Thousands of travelers suffer loss, injury, theft, or travel delays every year when traveling overseas. 

Purchasing overseas travel insurance is a simple step to make sure you won't be left stranded in a foreign country, refused medical treatment, or have to finish your trip without your camera or your clothes!

Rather than focus only on travel insurance cost, ask yourself the real question: should you buy travel insurance to protect your trip and your investment?

How smart a traveler are you?

For more information on overseas travel insurance, check the following pages:

Learn which International Travel Insurance is most important for your overseas trip, and which insurance coverage may not be necessary.

Trip Cancellation Insurance protects you when you pay up front, but are unable to travel. Learn which international trip insurance you need, if you have to cancel your trip.

Consider both Trip Interruption Insurance and Travel Delay Insurance for your overseas trip. Travel with peace of mind, for just pennies a day.

Buying Travel Baggage Insurance is a smart move to protect your travel pos-sessions. While airlines offer meager coverage, you're only protected for your flight - not your entire trip.

How to Buy Travel Insurance, where to get it, and who to buy it from.  Beware insurance sellers who can neither advise you, nor explain travel insurance plans.

Buying Travel Insurance For Europe is not a clear-cut choice. Consider the possibilities for harm or loss, before deciding whether or not to buy.

Return to Overseas Travel Insurance

Travel Tip

As with any travel purchase, always pay for travel insurance policies with a credit card. Like any credit card purchase, you have 60 days to resolve a dispute.

However, this does not mean you can travel, then dispute the charge when you return home, if you don’t use the insurance. If you have the coverage in place while traveling, you have no grounds for dispute.

Many travel insurance providers allow a 10 day period [or more] up front for you to review your policy and make sure you’re comfortable with your purchase.

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