How much should you budget for travel insurance? Unlike car or home insurance, there is no monthly bill — travel insurance is a one-time premium for a single trip, and it usually scales with the cost of the trip itself. A common rule of thumb is that comprehensive coverage costs about 4–7% of your total prepaid trip cost.
This free estimator gives you a planning number in seconds. Enter your trip cost, traveler age, destination and coverage level, and you'll see an estimated one-time premium for 2026 — plus which of your answers moved the number most. That makes it easy to judge whether the quotes you get from real insurers are fair.
What moved your estimate most
The range spans ±20% around the central estimate to reflect how much quotes differ between insurers for the same trip.
How we estimate
This tool is deliberately simple and transparent. Every estimate follows the same formula:
Estimated premium = trip cost × 5.5% × age × destination × coverage
The 5.5% starting point is a rough midpoint of the widely used 4–7% rule of thumb for comprehensive travel insurance. Each of your answers then adjusts it with a multiplier:
- Age (0.80 – 2.20): under 18: 0.80 · 18–29: 0.85 · 30–59: 1.00 · 60–69: 1.25 · 70–79: 1.70 · 80+: 2.20. Emergency medical and evacuation claims climb steeply with age, so older travelers pay noticeably more for the same trip.
- Destination (0.70 – 1.15): domestic US: 0.70 · Canada / Mexico / Caribbean: 1.00 · Europe: 1.05 · Asia / Africa / Latin America: 1.15. Domestic trips price lowest because your regular health insurance and evacuation networks are closest; longer-haul and remote destinations price higher because medical care and emergency transport cost more there.
- Coverage: basic: 0.75 · comprehensive: 1.00 · premium with Cancel For Any Reason: 1.45. Basic plans skip medical and baggage cover; CFAR adds real flexibility — it typically reimburses around 75% of trip cost — and insurers charge for it.
The final number is shown as a range (±20%) because two insurers can quote the same trip very differently. Treat the middle of the range as your planning number.
Frequently asked questions
How accurate is this travel insurance cost estimator?
It is a planning estimate, not a quote. The tool prices a comprehensive plan at roughly 5.5% of your total trip cost, then adjusts with approximate multipliers for traveler age, destination and coverage level. Real quotes vary by insurer, trip length, medical coverage limits and pre-existing-condition rules, so always compare real quotes before buying.
How much does travel insurance typically cost?
A common rule of thumb is that comprehensive travel insurance costs about 4–7% of your total prepaid trip cost. A $5,000 trip therefore tends to insure for roughly $200–$350. Basic plans (cancellation only) cost less, and adding Cancel For Any Reason (CFAR) coverage costs more.
Does traveler age change the price a lot?
Yes — age is the biggest pricing factor after trip cost. Travelers aged 70 and above can pay roughly 60–120% more than a 40-year-old for the same trip, because emergency medical and evacuation claims rise sharply with age.
When should I buy travel insurance?
As soon as you make your first non-refundable trip payment. Buying early unlocks time-sensitive perks — CFAR coverage and pre-existing-condition waivers usually require purchase within 14–21 days of your initial trip deposit.
Keep reading: related guides
An estimate is a starting point — these guides help you cover the gaps your main policies leave:
- Is Umbrella Insurance Worth It? (2026 Guide) — how extra liability coverage protects you beyond your standard policy limits, including incidents away from home.
- Health Insurance for Self-Employed Americans — domestic health plans rarely cover care abroad, which is why travel medical coverage matters.