In general, you should expect a plan will cost anywhere from 4%-10% of your total pre-paid, nonrefundable trip cost.
For example, if you purchased a trip with a total cost of $5,000, travel insurance policies available to you will likely range in price from $250-$500, depending on variables.
Is travel insurance worth the cost?
For most trips the cost of the insurance isn’t excessive and since travel is a sizable expense for most people, it’s probably worth the piece of mind. Many credit cards have travel insurance coverage.
Can you purchase travel insurance after booking?
You can purchase travel insurance anytime before the date of your departure. If you want a plan that includes valuable trip cancellation and trip interruption benefits, as well as benefits for existing medical conditions, you’ll want to purchase travel insurance as soon as possible after booking.
Who is the best travel insurance company?
Here’s my current list of the best major travel insurance companies, based on reader feedback and the latest consumer surveys:
- Allianz Global Assistance. Allianz Global Assistance is the largest travel insurance company.
- Generali Global Assistance.
- Seven Corners.
When should you buy travel insurance?
WHEN SHOULD I BUY TRAVEL INSURANCE? The best time to buy travel insurance is within 15 days of making the first deposit on your trip, since buying early can often qualify you for bonus coverages. However, many plans let you buy coverage up until the day before you leave.