Cheapest Travel Insurance (December 2023)

Travel isn’t cheap; unexpected expenses or plan changes can be very costly. Travel insurance provides financial protection if you cancel your trip, experience a delay, or get sick or injured while on your trip.^[1]

Nationwide, Travel Insured, and Berkshire Hathaway offer some of the cheapest total trip protection policies. Some plans are more expensive than others and may not be suited for you, so it’s crucial to compare plans from multiple companies to find the best coverage. Here’s a look at some of the best travel insurance prices and what these insurers offer.

Where to find the cheapest insurer

The right travel insurance plan for you is one that protects your travel investment at the most affordable price. Here’s a look at some of the cheapest travel insurance companies and what each offers. The quotes below are for a $4,000 trip to Mexico for two 30-year-olds.

Travel Insured International

Policies with Travel Insurance ranged from $144 to $176, with many possible add-ons and additional coverage options. And if you change your mind about the travel insurance policy, you can cancel within two weeks and get a full refund.^[2]

Berkshire Hathaway Travel Insurance

Berkshire Hathaway offers multiple policy options ranging from flight-only insurance to full trip protection, with robust coverage and an affordable price tag. Quotes ranged from $88 for flight-only coverage to $188 for premier trip insurance.^[3]

Nationwide

Nationwide is a top-rated insurance company in the U.S., offering everything from auto and home insurance to travel coverage. Trip insurance through Nationwide comes in two tiers, and quotes were $97 and $163, respectively. It provides travelers with trip, baggage, and medical protection while away from home.^[4]

IMG

Through IMG, you can choose coverage that’s based on either medical insurance or travel insurance. Costs can vary dramatically depending on the type of coverage you choose (our quotes ranged from $19 to $271), but this gives you the flexibility to build a policy based on your travel protection preferences.^[5]

Travelex

Travelex offers five types of travel insurance coverage, depending on whether you want comprehensive, post-departure, or flight-only coverage. Quotes ranged anywhere from $38 for flight insurance to $200 for total trip protection, with the option to pay more for upgrades like the ability to cancel for any reason or doubling your medical coverage limits.^[6]

How to find the cheapest travel insurance

Finding the most affordable travel insurance is a great way to protect your trip and your budget at the same time. Here are some tips to consider if you’re looking for the cheapest travel insurance:

• 

  Shop around

  As with any insurance product, you’ll find the most affordable travel insurance coverage by getting quotes from multiple insurers. Luckily, most travel insurers provide online quotes in minutes after just a few questions. Be sure to read the limits, privacy policy, and options that each offers so you’re comparing apples to apples.

• 

  Decide what’s most important

  What are you worried about most when it comes to your trip? What would be the most financially devastating? If you have a refundable trip and are only worried about medical coverage, your coverage needs differ from those of someone who wants a CFAR (cancel for any reason) policy.

• 

  Adjust your policy details

  Many companies will allow you to adjust coverage options, such as your deductible and medical limits. By taking on more risk, you’ll usually reduce your overall cost, and vice versa.

• 

  Capitalize on other coverage you might have

  Many credit cards offer trip delay and cancellation coverage, medical emergency coverage, and even lost or delayed baggage reimbursement. If you book your trip with one of these travel credit cards, you might not need as much trip insurance as travelers without those protections.

What travel insurance covers

Vacations can be expensive, especially if you’re planning a long-distance trip, going to an exotic location, or traveling with a group. No matter how well you plan, your trip can easily be derailed by illness, injury, travel delays, or even a simple change of plans.

Travel insurance provides financial protection if and when your travel plans change, either before you depart or while you’re away from home. This coverage can also offer you financial reimbursement if you experience flight delays, lost baggage, and more. And if you get sick or hurt while traveling, it can provide you with the care you need, regardless of where.

A few different travel insurance coverages are available to choose from, depending on which insurer you buy your policy through and how much you’re willing to spend. You can typically choose coverage that provides one or more of the following:

• Medical and dental care (especially important since your medical insurance policy won’t always apply), including medical evacuation

• Trip or baggage delay and interruption coverage

• Trip cancellation coverage

• Pet travel and fees

• Death or dismemberment

What travel insurance doesn’t cover

Your travel insurance coverage will depend on the policy you purchase. If you buy a medical-based policy, you may not have coverage for things like lost bags or pet kennel charges. And depending on the company and plan you choose, you might not have options like canceling your trip for any reason.

In general, though, travel insurance typically doesn’t protect you against losses related to:

• Named storms

• Pre-existing medical conditions or known illnesses

• Acts of war and terrorism

• Epidemics

• Dangerous or high-risk activities

Cheap travel insurance FAQs

Methodology

Quotes for this article were sourced directly from each insurance company’s website. The travel insurance plan costs are for two 30-year-olds traveling from the United States to Mexico with a trip cost of $4,000.