Average Cost of Travel Insurance (2017)

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Our study of more than 50 travel insurance policies showed the average cost of travel insurance in the U.S. was $148. But not all travel insurance policies are the same. Some are much more comprehensive than others and, consequently, the range of costs between them can be wide. A policyholder’s age also has a significant impact on the cost of their travel insurance.

Average Cost of Travel Insurance

We gathered travel insurance quotes for more than 50 different policies using a sample vacationer – a U.S. citizen living in the state of New York, going to the United Kingdom for one week in August of 2017. Some policies included in our study are more comprehensive than others, but the average across them is a good representation of what most travelers can expect to pay for such a trip. Considering all of the policies below, the average cost of travel insurance is $148.

CompanyAverage Premium
Average Quote148
AIG Travel Guard Platinum216
AIG Travel Guard Gold143
AIG Travel Guard Silver122
AIG Travel Guard Basic108
April Choice89
Allianz Basic109
Allianz Classic141
Allianz Classic Trip Plus191
AXA USA Silver82
AXA USA Gold142
AXA USA Platinum172
Berkshire Hathaway ExactCare143
Berkshire Hathaway ExactCare Family122
Travel Insured International Worldwide Trip Protector140
Travel Insured International Worldwide Trip Protector Lite101
CSA Travel Protection Custom151
CSA Travel Protection Custom Luxe235
Global Alert Preferred84
HTH TripProtector Classic149
HTH TripProtector Preferred181
IMT Services Travel Visa Medical20
IMT Services Travel Visa Plus128
IMG iTravelInsured SE153
IMG Patriot International21
IMG Patriot Multi-Trip International200
John Hancock Bronze85
John Hancock Gold127
John Hancock Silver117
MH Ross Asset100
MH Ross Asset Plus193
MH Ross Bridge167
MH Ross Complete267
Nationwide Essential75
Nationwide Choice Cruise136
Nationwide Luxury Cruise159
Nationwide Universal Cruise115
Nationwide Prime153
Nationwide Academic Explorer All-Inclusive International91
RoamRight Essential104
RoamRight Preferred136
RoamRight Elite175
Seven Corners RoudTrip100
Seven Corners RoundTrip Coice143
Flight Insure Plus39
Flight Insure Plus (Flight Only)17
Travelex Travel Basic111
Travelex Travel Select166
Travelex Travel Max312
TravelSafe Basic Plan142
TravelSafe Classic Plan123
TruTravel Insurance Economy90
TruTravel Insurance Premier131

Where someone is departing from, or traveling to, does not have as big an impact on rates as one might expect (unless they are traveling to an especially hazardous place). We experimented with departures from different states in the U.S. and when the final desitination remained the United Kingdom, the cost of the travel insurance policy typically remained the same. The states of New York and Jersey tended to have slightly higher premiums, but the difference was less that $10.

We also maintained the final destination (the U.K.) and found that departing from most other countries other than the U.S. resulted in a significant increase in the average policy premium. It's hard to know what the reason behind that difference is – perhaps it is because the prices of the policies we were gathering quotes for are optimized for U.S. departures. Anything outside of the U.S. might simply be categorized as a different level of risk, regardless of where someone is departing from.

Average Cost of Basic vs Comprehensive Travel Insurance Policies

We took a closer look at some relatively basic travel insurance policies and some of the least expensive ones offered by carriers. Not surprisingly, the average cost of the basic policies was lower that the average cost of the more comprehensive plans. The more a travel insurance policy covers, or the higher claim limits it has, the higher the mean premium.

Average Cost of Travel Insurance Coverage

105
Basic Coverage
130
Middle-Tier Coverage
164
Comprehensive Coverage

Policyholders have quite a bit of control over the cost of travel insurance because they can choose what coverage they need or want. For contrast, if a homeowner needs to insure their house, there aren’t many things they can do to affect the cost, beyond shopping around for the cheapest carrier. The basic or silver tiers generally have less medical coverage or lower limits to claim than higher gold or platinum tiers.

Average Travel Insurance Cost By Age

In addition to the types of coverage and the claim limits, a person’s age has a substantial impact on the cost of travel insurance. No matter the type of policy someone buys, the price increases dramatically the older they are. Our analysis below showed that premiums remained relatively flat for travelers age one through 30, but then the cost begins to climb. The most drastic increases occur between ages 60 and 80. We attempted to gather quotes for travelers as old as 100, 105 and 110 but no companies offered quotes for our sample traveler of those ages.

AgeCost of Premium
1104
2104
3104
4104
5104
6104
7104
8104
9104
10104
11104
12104
13104
14104
15104
16104
17106
18106
19104
20105
21106
25106
30107
35122
40124
45125
50127
55135
60157
65170
70193
75233
80330
85387
90408
95415

Methodology

To access the cost of travel insurance in the U.S., we first researched and established a sample traveler to gather quotes for – a U.S. citizen living in the state of New York, going to the United Kingdom for one week in August of 2017 with an estimated trip cost of $2,500. We then collected more than 2,000 travel insurance quotes for 52 different policies offered by dozens of companies.

Through September of 2016, more than 60.8 million U.S. citizens traveled internationally and millions purchased some form of travel insurance. Americans spent more than $2.2 billion on all types of travel protection in 2014, according to a survey of the travel insurance market by the U.S. Travel Insurance Association (UStiA). The same survey, which includes the most recent available data, also showed approximately 33.4 million U.S. citizens were covered by more than 24.5 million travel insurance plans.

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