Travel insurance prices can vary widely depending on the type of trip you’re taking, your age, destination, coverage limits, and the insurer’s policy structure. With so many options, it can feel challenging to know which plan offers the best balance of price and protection. This guide walks you through exactly how to compare travel insurance prices the right way—so you can travel confidently without overspending.
Understand What Affects Travel Insurance Prices
Before comparing quotes, it helps to know what factors drive the cost:
- Age of travelers
- Destination (domestic vs. international, medical cost levels)
- Trip length
- Trip cost (affects cancellation coverage)
- Coverage type (basic vs. comprehensive)
- Medical coverage limits
- Medical evacuation limits
- Adventure/sports add-ons
- Pre-existing condition waivers
- Number of travelers
- Travel date proximity
Prices vary more for travel insurance than most other insurance types because trips differ so much.
Compare the Same Types of Coverage Across All Quotes
To compare prices accurately, every quote must include the same coverage categories.
Match coverage for:
Trip cancellation and interruption
Ensure the same trip cost is insured. This is one of the biggest price drivers.
Travel medical coverage
International trips require stronger limits—often $50k to $500k or higher.
Emergency medical evacuation
Look for $250k–$1M in evacuation coverage for international or remote destinations.
Baggage loss and delay
Match limits to ensure a fair comparison.
Travel delay
Review daily and total reimbursement limits.
Accidental death & dismemberment
Included in many, but not all, plans.
Coverage mismatches can make a cheaper plan appear better when it actually protects less.
Evaluate Optional Add-Ons and Riders
Add-ons can dramatically change both the price and the value of a travel insurance policy.
Compare quotes for optional add-ons such as:
- Cancel For Any Reason (CFAR)
- Adventure sports coverage
- Cruise-specific coverage
- Rental car collision protection
- Upgraded baggage limits
- Pre-existing condition waivers
CFAR alone can increase the price by 40%–60%, so ensure all quotes reflect the same selection.
Look at Trip Cost and How It’s Calculated
Some insurers require you to insure the full trip cost, while others allow partial trip-cost coverage depending on cancellation needs.
When comparing:
- Enter the same trip cost for each quote
- Ensure trip components (flights, hotels, tours) are valued consistently
- Check how “nonrefundable costs” are defined by each insurer
Trip-cost inputs significantly influence price.
Review Medical and Evacuation Limits Carefully
These are two of the most important components of any plan—and often the areas where cheaper plans cut corners.
Compare:
- Medical coverage amount
- Evacuation coverage amount
- Deductibles
- Coinsurance
- Exclusions (especially adventure activities)
A plan with slightly higher premiums may offer drastically better medical protection abroad.
Compare Provider Reputation and Claims Handling
Price is important—but when you’re overseas, customer service matters even more.
Evaluate:
- Claims satisfaction scores
- Emergency response reputation
- 24/7 assistance services
- Medical evacuation partners
- Customer reviews
Reliable service can be worth paying a bit more.
Consider the Total Cost, Not Just the Premium
When comparing the real cost of travel insurance, also look at:
- Coverage limits
- Deductibles
- Exclusions
- Required documentation
- Out-of-pocket potential in emergencies
The cheapest plan may cost more long-term if it offers weak medical coverage or no evacuation protection.
Compare Quotes Across Multiple Provider Types
For a complete price review, get quotes from:
- Traditional travel insurance companies
- Online travel insurance aggregators
- Credit card travel protection (if available)
- Airlines or travel agencies (for bundled plans)
At minimum, compare three comparable plans.
Reevaluate for Every Trip
Travel insurance should be selected separately for each trip because:
- Destinations change
- Trip prices vary
- Health needs shift
- Coverage requirements differ (cruise vs. adventure vs. simple vacation)
Never assume last year’s plan is right for this year’s travel.