The average cost of travel insurance by age, destination, and number of travelers - Business Insider

Travel insurance can help you recover travel costs that wouldn't be refundable otherwise

8/11/2020 12:18:00 AM

Travel insurance can help you recover travel costs that wouldn't be refundable otherwise

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Travel insurancecosts vary based on a few factors, but research by Business Insider found the average travel insurance policy costs $111.Where you're going has a very small effect on your cost, though insuring domestic trips does tend to be slightly cheaper. 

Your age does tend to have some effect on travel insurance pricing. After age 40, travel insurance prices tend to increase. The longer a trip, or the more people going, the more expensive a trip will be to insure. Generally, that's simply because the trip costs more. 

See Business Insider's top picks for travel insurance companies in 2020 »According to data gathered by Business Insider, the average travel insurance policy costs $111 per trip. Business Insider gathered over 50 quotes from three top travel insurance companies — Allianz, World Nomads, and Travel Guard — for several sets of travelers, trips, and families.

The cost of travel insurance is mainly influenced by the age of the travelers, as travel insurance prices tend to increase with age. The number of travelers on your trip and the amount spent on your trip will also increase the amount you'll spend to insure it. 

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