Travel Insurance Rates Today: September 27, 2022


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It’s officially fall, and travel insurance rates continue to drop from their summer-season peaks. According to travel agency Squaremouth, the average cost to insure a trip is currently $265.23—down slightly from last week and down 14% compared to a month ago.

Travel insurance weekly rates at a glance: 

Average premium: $265.23

Average trip cost: $5,741.77

Average trip length: 16 days

Average cost of travel insurance by most popular destinations

It’s worth noting that some countries are naturally more expensive with flight and lodging costs, which could ultimately increase your travel insurance costs. But when controlled for cost, the destination doesn’t change how much you’ll spend to insure your trip. 

Here’s how the prices stack up:

Source: SquareMouth

When people are buying travel insurance

According to an AAA travel survey, 88% of travelers say that reimbursement after a trip cancellation is the most valuable benefit of trip insurance. 

According to data gathered by SquareMouth in the last six months, travelers tend to purchase cancellation travel insurance 53 days before their trip. Meanwhile, travelers without cancellation insurance will purchase a policy approximately 16 days before their trip. 

Source: SquareMouth

Average cost of travel insurance by age

A traveler’s age is a significant factor in determining the cost of travel insurance. The older a traveler is, the more cost is associated with the trip. For instance, a senior traveler may need more insurance for health-related emergencies than a millennial.

When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency.

Source: SquareMouth

Insider’s Featured Travel Insurance Companies

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Read More: Travel Insurance Rates Today: September 27, 2022

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