Cheapest travel insurance of July 2024
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BLUEPRINT
Updated 4:47 a.m. UTC June 10, 2024
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Aegis is the best cheap travel insurance company of 2024 based on our in-depth analysis of the cheapest travel insurance plans. Its Atlas Journey Preferred and Atlas Journey Premier plans offer affordable travel insurance with high limits for emergency medical and evacuation benefits bundled with good coverage for trip delays, travel inconvenience and missed connections.
Cheapest travel insurance of 2024
- Aegis: Cheapest travel insurance.
- WorldTrips: Best cheap travel insurance.
- Travel Insured: Cheap travel insurance for cruises.
- Nationwide: Best cheap travel insurance for seniors.
- TravelSafe: Best cheap travel insurance for missed connections.
- Travelex: Best cheap travel insurance for families.
- AIG: Best cheap travel insurance for add-on options.
Why trust our travel insurance experts
Our team of travel insurance experts analyzes hundreds of insurance products and thousands of data points to help you find the best travel insurance for your next trip. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 1,855 coverage details evaluated.
- 567 rates reviewed.
- 5 levels of fact-checking.
Cheapest travel insurance comparison
| BEST CHEAP TRAVEL INSURANCE PLAN | TOP-SCORING PLAN | EMERGENCY MEDICAL | EMERGENCY EVACUATION | MISSED CONNECTIONS | LEARN MORE | |||||||
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| Go Ready Choice | $50,000 Secondary | $250,000 per person | $500 per person Covered after 3-hour delay Cruise and tour only | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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| Atlas Journey Explore | $150,000 per person Primary coverage | $750,000 per person | $1,000 per person Covered after 3-hour delay | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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 Travel Insured | Worldwide Trip Protector | $100,000 per person Primary coverage | $1,000,000 per person | $500 per person Covered after 3 hour delay Cruise and tour only | Compare Quotes Via TravelInsurance.com’s website | |||||||
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| Cruise Choice | $100,000 per person Secondary coverage | $500,000 per person | $1,500 per person Covered after 3 hour delay Cruise and tour only | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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| Classic | $100,000 per person Primary coverage | $1,000,000 per person | $2,500 per person Covered after 3-hour delay | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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| Travel Select | $50,000 per person Primary coverage | $500,000 per person | $750 per person Covered after 3-hour delay | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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| Travel Guard Preferred | $50,000 per person Primary coverage | $500,000 | $1,000 | Compare Quotes Via TravelInsurance.com’s website | ||||||||
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How much does the cheapest travel insurance cost?
The cheapest travel insurance in our rating is $305. This is for an Aegis Go Ready Choice travel insurance plan, based on the average of seven quotes for travelers of various ages to international destinations with a range of trip values.
Factors that determine travel insurance cost
There are several factors that determine the cost of travel insurance, including:
- Age and number of travelers being insured.
- Trip length.
- Total trip cost.
- The travel insurance plan you choose.
- The travel insurance company.
- Any add-ons, features or upgraded benefits you include in the travel insurance plan.
Expert tip: “In general, travelers can expect to pay anywhere from 4% to 10% of their total prepaid, non-refundable trip costs,” said Suzanne Morrow, CEO of InsureMyTrip.
Is buying the cheapest travel insurance a good idea?
Choosing cheaper travel insurance without paying attention to what a plan covers and excludes could leave you underinsured for your trip. Comparing travel insurance plans side-by-side can help ensure you get enough coverage to protect yourself financially in an emergency for the best price.
For example, compare these two Travelex travel insurance plans:
- Travel Basic is cheaper but it only provides up to $15,000 for emergency medical expense coverage. You’ll also have to pay extra for coverage for children.
- Travel Select will cost you a bit more but it covers up to $50,000 in medical expenses and includes coverage for kids aged 17 and younger traveling with you. It also offers upgrades such additional medical coverage, “cancel for any reason” (CFAR) coverage and an adventure sports rider that may be a good fit for your trip.
Reasons to consider paying more for travel insurance
Make sure you understand what you’re giving up if you buy the cheapest travel insurance. Here are a few reasons you may consider paying a little extra for better coverage.
- Emergency medical. The best travel medical insurance offers primary coverage for emergency medical benefits. Travel insurance with primary coverage can cost more than secondary coverage but will save you from having to file a claim with your health insurance company before filing a travel insurance claim.
- Emergency evacuation. If you’re traveling to a remote location or planning a boat excursion on your trip, look at travel insurance with a high medical evacuation insurance limit. If you are injured while traveling, transportation to the nearest adequate medical facility could cost in the tens to hundreds of thousands. It may make sense to pay more for travel insurance with robust emergency evacuation coverage.
- Flexibility. To maximize your trip flexibility, you might consider upgrading your travel insurance to “cancel for any reason” (CFAR) coverage. This will increase the cost of your travel insurance but allow you to cancel your trip for any reason — not just those listed in your policy. The catch is that you’ll need to cancel at least 48 hours before your trip and will only be reimbursed 50% or 75% of your trip expenses, depending on the plan.
- Upgrades. Many travel insurance plans have optional extras like car rental collision and adventure sports (which may otherwise be excluded from coverage). These will cost you extra but may give you the coverage you need.
How to find the cheapest travel insurance
The best way to find the cheapest travel insurance is to determine what you’re looking for in a travel insurance policy and compare plans that meet your needs.
“Travel insurance isn’t one-size-fits-all. Every trip is different, and every traveler has different needs, wants and concerns. This is why comparison is key,” said Morrow.
Consider the following factors when comparing cheap travel insurance plans.
- How often you’re traveling. A single-trip policy may be the most cost-effective if you’re only going on a single trip this year. But a multi-trip travel insurance plan may be cheaper if you’re going on multiple international trips throughout the year. Annual travel insurance policies cover you for a whole year as long as each trip doesn’t exceed a certain number of days, usually 30 to 90 days.
- Credit card has travel insurance benefits. The best credit cards offer perks and benefits, and many offer travel insurance-specific benefits. The coverage types and benefit limits can vary, and you must put the entire trip cost on the credit card to use the coverage. If your trip costs more than the coverage limit on your card, you can supplement the rest with a cheaper travel insurance plan.
- The coverage you need. When looking for the best travel insurance option at the most affordable price, only buy extras and upgrades you really need. A basic plan may only provide up to $500 in baggage insurance, but if you only plan to take $300 worth of clothes and accessories, you don’t need to pay more for higher coverage limits.
Is cheap travel insurance worth it?
Cheap travel insurance can be worth it, as long as you understand the plan limitations and exclusions. Taking the time to read your policy, especially the fine print, well before your trip can ensure there won’t be any surprises about what’s covered once your journey begins.
“If a traveler is looking for coverage for travel delays, cancellations, interruptions, medical and baggage — a comprehensive travel insurance policy will provide the most bang for their buck,” said Morrow. But if you’re on a tight budget and are only worried about emergency medical care and evacuation coverage while traveling abroad, stand-alone options are cheaper.
Before buying travel insurance, you should also consider what your health insurance will cover.
“Most domestic health insurance plans, including Medicare, will not cover medical bills abroad,” said Morrow. Even if you’re staying stateside, you may find value in an affordable travel insurance plan with medical coverage if you have a high-deductible health plan (HDHP).
A cheap travel insurance plan is better than none at all if you end up in a situation that would have covered some or all of your prepaid, nonrefundable trip expenses.
Methodology
Our insurance experts reviewed 1,855 coverage details and 567 rates to determine the best travel insurance. From those top-scoring travel insurance plans, we chose the most affordable for our rating of the cheapest travel insurance.
Insurers could score up to 100 points based on the following factors:
- Cost: 40 points. We scored the average cost of each travel insurance policy for a variety of trips and traveler profiles.
- Medical expenses: 10 points. We scored travel medical insurance by the coverage amount available. Travel insurance policies with emergency medical expense benefits of $250,000 or more per person were given the highest score of 10 points.
- Medical evacuation: 10 points. We scored each plan’s emergency medical evacuation coverage by coverage amount. Travel insurance policies with medical evacuation expense benefits of $500,000 or more per person were given the highest score of 10 points.
- Pre-existing medical condition exclusion waiver: 10 points. We gave full points to travel insurance policies that cover pre-existing medical conditions if certain conditions are met.
- Missed connection: 10 points. Travel insurance plans with missed connection benefits of $1,000 per person or more received full points.
- “Cancel for any reason” upgrade: 5 points. We gave points to travel insurance plans with optional “cancel for any reason” coverage that reimburses up to 75%.
- Travel delay required waiting time: 5 points. We gave 5 points to travel insurance policies with travel delay benefits that kick in after a delay of 6 hours or less.
- Cancel for work reasons: 5 points. If a travel insurance plan allows you to cancel your trip for work reasons, such as your boss requiring you to stay and work, we gave it 5 points.
- Hurricane and severe weather: 5 points. Travel insurance plans that have a required waiting period for hurricane and weather coverage of 12 hours or less received 5 points.
Some travel insurance companies may offer plans with additional benefits or lower prices than the plans that scored the highest, so make sure to compare travel insurance quotes to see your full range of options.
Cheapest travel insurance FAQs
When buying travel insurance, cheapest is not always the best. The most affordable travel insurance plans typically offer fewer coverages with lower policy limits and few or no optional upgrades. Add up your total nonrefundable trip costs and compare travel insurance plans and available features that cover your travel expenses. This strategy can help you find the cheapest travel insurance policy that best protects you from financial loss if an unforeseen circumstance arises.
Get the coverage you need: Best travel insurance of 2024
According to our analysis, Aegis, WorldTrips, Travel Insured International and Travelex offer the best cheap travel insurance. Policy coverage types and limits can vary by each travel insurance provider, so the best way to get the cheapest travel insurance plan is to compare several policies and companies to find the right fit for your budget.
A good rate for travel insurance depends on your budget and coverage needs. The most comprehensive travel insurance plan is usually not the cheapest. But cheap trip insurance may not have enough coverage or the types of coverage you want. Comparing different levels of coverage and how much they cost can help you find the best cheap insurance for travel.
The average cost of travel insurance is between 5% to 6% of your total travel expenses for one trip, according to our analysis of rates. However, you may find cheaper travel insurance if you opt for a plan with fewer benefits or lower coverage limits. How much you pay for travel insurance will also depend on the number of travelers covered, their ages, the length of the trip and any upgrades you add to your plan.
Travel insurance covers nonrefundable, prepaid trip costs — up to the policy coverage limits — when your trip is interrupted or canceled for a covered reason outlined in your plan documents. Even the cheapest travel insurance policies usually provide coverage for:
- Medical emergencies.
- Trip delays.
- Trip interruption.
- Trip cancellation.
- Lost, stolen or damaged luggage.
However, if you’re looking to save on travel insurance, you can shop for a policy that only has travel medical insurance and does not include benefits for trip cancellation.
Even when you buy cheap travel insurance, you can often use upgrade options to customize your policy to meet your specific needs.
Some common travel insurance add-ons you may want to consider include:
- Rental car damage coverage.
- Medical bundle.
- Security bundle.
- Accidental death and dismemberment coverage.
- Adventure sports bundle.
- Pet bundle.
- Wedding bundle.
- “Cancel for work reasons” coverage.
- “Interruption for any reason” (IFAR) coverage.
- “Cancel for any reason” (CFAR) coverage.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
