Travel Insurance Rates Today: September 20, 2022


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The current average travel insurance premium is $267.47, according to travel insurance agency Squaremouth. That’s up a bit from last week, but down significantly from this time last month, reflecting that we’re almost at the official end of summer.

List of weekly rates for travel insurance:

Average premium: $267.47

Average travel cost: $5,695.14

Average trip length: 16 days

Average travel insurance costs for popular destinations

It’s worth noting that some countries will naturally cost more for airfare and accommodation, which may ultimately increase the cost of your travel insurance. However, when controlling for costs, the destination doesn’t change the cost of insuring your trip.

Here’s how the prices stack up:

Source: SquareMouth

When people buy travel insurance

according to a AAA Tourism Survey88% of travelers say reimbursement after trip cancellation is the most valuable benefit of travel insurance.

According to data collected by SquareMouth over the past six months, travelers tend to purchase travel cancellation insurance 53 days before their trip. Meanwhile, travelers without cancellation insurance will purchase a policy approximately 16 days before travel.

Source: SquareMouth

Insider Select Travel Insurance Company

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Editor’s review

4.5/5

Pentagram

Pentagram

Pentagram

Pentagram

Pentagram

Editor’s review

4.7/5

Pentagram

Pentagram

Pentagram

Pentagram

Pentagram

Editor’s review

4.45/5

Pentagram

Pentagram

Pentagram

Pentagram

Pentagram

Average cost of travel insurance by age

The age of the traveler is an important factor in determining the cost of travel insurance. The older the traveler, the more travel-related expenses. For example, older travelers may need more health-related emergency coverage than millennials.

When calculating your travel insurance premium, travel insurance providers take into account the possibility of medical emergencies.

Source: SquareMouth

What does travel insurance cover?

Travel insurance can help you cover the non-refundable portion of your trip, or help you in the event of an injury or emergency.

A travel insurance policy covers six main elements:

  • Trip Cancellation or Interruption
  • travel delay
  • Medical expenses during travel
  • Damaged, delayed or lost baggage
  • emergency transport
  • Damaged taxi

If you have a credit card, there is no need to purchase a separate travel insurance policy, some of which you may already have access to. Many airline credit cards or travel credit cards offer trip cancellation, delay and luggage coverage. For example, the Chase Sapphire Reserve and Chase Sapphire Preferred cards both come with some travel insurance, including trip cancellation, interruption and delay coverage, luggage delay, rental car, accidental death and dismemberment coverage.

Before getting a travel insurance policy, you must make sure the terms meet your needs or concerns. This is especially important during the COVID-19 pandemic – due to this event, each travel insurance company has unique reimbursement and cancellation rules. Please read the fine print of any travel insurance policy before purchasing.



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