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Travel Insurance Calculator — Estimate Trip Protection Cost

Calculate travel insurance premiums based on trip cost, destination, and coverage level

Estimated Premium

$715

Per Person

$358

Rate

7.2%

Medical

$100,000

$
days
Estimated Premium

$715

Per Person

$358

Medical

$100,000

Cancellation

$3,750

Evacuation

$250,000

Rate

7.2%

Frequently Asked Questions

Q

How much does travel insurance cost?

Travel insurance typically costs 4–8% of your total prepaid trip cost. A $5,000 trip costs $200–$400 to insure with standard coverage. The exact rate depends on your age, destination, trip length, and coverage tier chosen.

  • Basic plans: 4–5% of trip cost with $50K medical
  • Standard plans: 5–6% with $100K medical and 75% cancellation
  • Comprehensive plans: 6–8% with $250K+ medical and full cancellation
  • Age 51–65 adds 30–60% to base premiums
  • High-risk destinations add 15–30% to premiums
Coverage TierRate RangeMedicalCancellation
Basic4–5%$50K50% of trip
Standard5–6%$100K75% of trip
Comprehensive6–8%$250K+100% of trip
Q

What does travel insurance cover?

Travel insurance covers medical emergencies, trip cancellation, emergency evacuation, baggage loss, and travel delays. Medical coverage pays for hospital stays and doctor visits abroad. Cancellation coverage reimburses prepaid costs if you cancel for covered reasons.

  • Medical emergencies: hospital, prescriptions, doctor visits abroad
  • Trip cancellation: illness, injury, jury duty, weather, airline failure
  • Emergency evacuation: air ambulance to nearest hospital ($50K–$100K+ value)
  • Baggage loss: $500–$2,000 reimbursement for lost luggage
  • Travel delays: $100–$200/day for essentials during 6+ hour delays
Q

How much medical coverage do I need for international travel?

Most experts recommend at least $100,000 in medical coverage for international travel. US health insurance rarely covers overseas care. An emergency room visit abroad costs $2,000–$10,000, surgery $20,000–$100,000+, and medical evacuation alone can exceed $50,000.

  • Minimum recommended: $100,000 for most destinations
  • High-cost countries (US, Japan, Switzerland): $250,000+
  • Adventure travel or remote areas: $500,000+ with evacuation
  • Medicare does NOT cover care outside the US
Q

Is travel insurance worth it for domestic trips?

Travel insurance is worth it for domestic trips over $2,000 in prepaid costs, especially for non-refundable bookings. If your flight, hotel, and tours total $3,000, a $120–$150 policy protects against cancellation due to illness, weather, or emergencies.

  • Worth it if total prepaid costs exceed $2,000
  • Especially valuable for non-refundable flights and tours
  • Domestic medical coverage is less critical if you have health insurance
  • Cancel-for-any-reason (CFAR) costs 40–50% more but covers everything
Q

When should I buy travel insurance?

Buy travel insurance within 14–21 days of your first trip deposit to get the best coverage, including pre-existing condition waivers. Purchasing early costs the same as last-minute but provides cancellation protection immediately for events between purchase and departure.

Example Calculations

1$5,000 European Trip for 2 (Standard Coverage, Age 36–50)

Inputs

Trip Cost$5,000
Travelers2
Duration10 days
CoverageStandard
Age36–50
DestinationCanada / Europe

Result

Estimated Premium$715
Per Person$357.50
Effective Rate7.15%
Medical Coverage$100,000
Cancellation$3,750

Standard tier base rate averages 5.5%, multiplied by 1.3 age factor and 1.0 destination factor = 7.15%. Premium: $5,000 x 7.15% x 2 travelers = $715 total, or $357.50 per person.

2$8,000 Asia Trip for 1 (Comprehensive, Age 51–65)

Inputs

Trip Cost$8,000
Travelers1
Duration14 days
CoverageComprehensive
Age51–65
DestinationAsia / Africa / S. America

Result

Estimated Premium$1,164.80
Effective Rate14.56%
Medical Coverage$250,000
Cancellation$8,000
Evacuation$500,000

Comprehensive base rate averages 7%, times 1.6 age factor and 1.3 destination risk = 14.56%. Premium: $8,000 x 14.56% x 1 traveler = $1,164.80. Full 100% cancellation coverage on the $8,000 trip cost.

Formulas Used

Travel Insurance Premium

Premium = Trip Cost × Base Rate × Age Factor × Destination Factor × Travelers

Calculates the estimated insurance premium based on trip value and risk factors.

Where:

Trip Cost= Total prepaid, non-refundable trip expenses
Base Rate= Coverage tier rate (4–8% depending on tier)
Age Factor= Multiplier based on traveler age bracket (1.0–2.1)
Destination Factor= Risk multiplier for travel destination (0.8–1.3)
Travelers= Number of people covered by the policy

Cancellation Coverage

Cancellation = Trip Cost × Coverage Percentage

Maximum reimbursement if trip is cancelled for a covered reason.

Where:

Trip Cost= Total prepaid trip expenses
Coverage Percentage= Tier-based: 50% (basic), 75% (standard), or 100% (comprehensive)

How to Choose the Right Travel Insurance

1

Understanding Travel Insurance Costs by Coverage Level

Travel insurance premiums range from 4% to 8% of your total trip cost, with the exact rate determined by your age, destination, trip length, and chosen coverage tier. A $5,000 vacation for a couple in their 30s heading to Europe typically costs $300–$500 to insure at the standard level.

The three main coverage tiers offer different protection levels. Basic plans ($50K medical, 50% cancellation) suit low-risk domestic trips. Standard plans ($100K medical, 75% cancellation) cover most international travel. Comprehensive plans ($250K+ medical, 100% cancellation) are essential for expensive trips or destinations with limited healthcare.

Premium multipliers by risk factor
FactorLow ImpactMedium ImpactHigh Impact
Age18–35: 1.0x36–50: 1.3x51–65: 1.6x
DestinationDomestic: 0.8xEurope: 1.0xAsia/Africa: 1.3x
Duration1–7 days: base8–14 days: base15+ days: +0.5%/day over 14
2

Medical Coverage: The Most Critical Component

Medical emergencies abroad are the primary reason to buy travel insurance. A broken leg in France costs $15,000–$25,000 for treatment. Appendicitis in Japan runs $20,000–$40,000. An air ambulance evacuation from a remote area costs $50,000–$150,000. Without insurance, you pay out of pocket.

Most US health insurance plans, including Medicare, do not cover medical care outside the country. Even plans that offer limited international coverage typically cap reimbursement at $10,000–$25,000, far below the cost of a serious emergency. Travel medical insurance fills this gap at a fraction of the potential expense.

  • Minimum $100,000 medical for any international trip
  • $250,000+ for countries with expensive healthcare (US, Switzerland, Japan)
  • $500,000+ for adventure travel, cruises, or remote destinations
  • Emergency evacuation coverage of $250,000+ is essential for remote areas
  • Pre-existing condition coverage requires purchasing within 14–21 days of first deposit
3

When Trip Cancellation Insurance Pays Off

Trip cancellation insurance reimburses prepaid, non-refundable costs when you cancel for a covered reason. Standard covered reasons include illness or injury, death of a family member, jury duty, severe weather, natural disaster, airline bankruptcy, and military deployment.

The value calculation is straightforward: if your non-refundable costs exceed the insurance premium by 10x or more, cancellation coverage is worthwhile. A $5,000 non-refundable trip insured for $350 means you are paying 7% to protect 100% of your investment. The break-even point is roughly one cancelled trip per 14 trips taken.

Cancel-for-any-reason (CFAR) upgrades cost 40–50% more than standard policies but reimburse 50–75% of costs for any cancellation reason, including simply changing your mind. CFAR must be purchased within 14–21 days of your first trip payment.

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Last Updated: Mar 25, 2026

This calculator is provided for informational and educational purposes only. Results are estimates and should not be considered professional financial, medical, legal, or other advice. Always consult a qualified professional before making important decisions. UseCalcPro is not responsible for any actions taken based on calculator results.

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