Travel Insurance Cost

How much does travel insurance cost?

Travel insurance is becoming an essential part of the family holiday – or even the average business trip as we face up to the risks involved, ever more so, in travelling to foreign climes. Insurance covering illness and medical costs is considered a vital part of the holiday budget these days as overseas medical bills can be very costly indeed, yet the cost for insurance can vary according to the type and the provider.

General Cost

• There are many reasons why you should indulge in travel insurance, and one of the most important is that concerning cancelled trips. Many payments for holidays may be non-refundable and, should some misfortune preclude you from travelling, you will lose the money paid.
• An insurance policy covering the cost of refunding your travel fees will typically cost between five and ten percent of the cost of the trip, depending on the value and complexity of the trip involved.
• In some cases travel organisers may agree to refund some of your costs, but this can be as little as 50% and is rarely more than 75%.
• Medical insurance may also be covered in the above type of plan, but if it is not you can expect to pay between $25 and $60 for a weekly insurance plan, increasing by the length of holiday and the circumstances covered.
• Beware of inclusive insurance deals – these can be very restrictive and not at all good value for money.

Extra Cost

• If you are travelling with an already present condition your medical insurance will undoubtedly cost more, and some insurers may be unwilling to cover your trip.
• Cancellations in some circumstances may not be included.
• Trips to particularly risky and troubled parts of the world, or those with known medical risks, are always going to involve a premium.


• Make sure that lost baggage is included in the policy – this is a surprisingly common occurrence in these days of popular travel.
• Make sure you are not paying over the odds – if you already have medical insurance it may cover you for some travelling.
• Make sure you understand the exclusion clauses – they can be quite severe.


• Always shop around for the best deal – this is a competitive market and the package offered by the travel agent may not be the best value for money.
• See for expert advice and information on rates and costs.
• Ask around friends and family for advice - you never know who may recommend a good deal.

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