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Travel insurance quotes swing a lot from one traveler to the next, and the reason is simple: insurers price every trip individually. The same policy that costs a 28-year-old $150 can cost a 70-year-old more than $400 for the same itinerary. If you understand what goes into the price, you can stop guessing and start comparing plans on the parts that matter.
Trip cost sets the starting point
For comprehensive plans, the premium usually lands between 4% and 10% of the prepaid, non-refundable trip cost you choose to insure. On a $5,000 trip, that is roughly $200 to $500. A 2026 analysis from InsureMyTrip based on real customer purchases put the average international premium at $184 per person, about 6% of trip cost. Squaremouth reports a similar figure, with average comprehensive plans running around 6% of insured trip expenses.
Only money you would lose if you canceled counts: deposits, non-refundable airfare, prepaid hotels and tours. Anything refundable does not need to go on the policy, and leaving it off keeps the premium down. Keep in mind that the percentage tends to shrink a little as trip cost rises, so a $10,000 trip does not automatically cost twice as much to insure as a $5,000 one.
Age moves the price more than anything else
Age is the single biggest swing factor in travel insurance pricing. InsureMyTrip data shows travelers aged 77 and older paid an average of $782 in 2026, more than six times what the youngest adult travelers paid. A MoneyGeek analysis found that a 30-year-old pays about $201 for comprehensive coverage on a $5,000 trip while a 65-year-old pays about $394, and by age 75 the premium passes $550.
The jumps are not gradual. Premiums typically step up at 50 and climb steeply past 65. This is why two people on the same trip can get very different quotes, and why older travelers should compare more carefully instead of assuming the first quote is fair.
Trip length and destination
A longer trip costs more to insure than a short one, though not always in proportion, because part of the premium is a fixed base cost. Destinations matter too. Countries with expensive private medical systems push premiums up, since the insurer prices in the cost of treating you there. MoneyGeek notes that a trip to Canada or Western Europe quotes near baseline rates for a given plan, while destinations like India, Brazil, or Morocco can add 30% to 40% to the same coverage.
Coverage tier and add-ons
The plan tier changes the price as much as the trip does. MoneyGeek’s 2026 numbers for a $5,000 trip put basic plans around $125, comprehensive plans around $227, and premium plans around $345. The difference between basic and comprehensive mostly buys higher medical and evacuation limits, which is the part that protects you from the bills that actually ruin trips.
Add-ons stack on top. Cancel For Any Reason (CFAR) coverage, adventure sports riders, and higher baggage limits each add to the premium. CFAR alone typically raises the base price by 40% to 50%, so it is worth deciding whether the flexibility is worth the surcharge before you add it.
What does not affect the price
Your health history does not change the premium. Insurers do not underwrite your medical record the way life insurers do; a chronic condition costs the same to insure as perfect health, though it may affect which claims get paid without a pre-existing condition waiver. Destination matters only through medical costs, and your travel frequency does not affect a single-trip quote at all.
How to keep the premium reasonable
Insure only the non-refundable portion of the trip. Compare at least three quotes for the same trip cost and coverage level, because the same inputs produce different prices across companies. If you travel three or more times a year, price an annual multi-trip plan against single-trip policies; the annual plan often wins on cost. And buy early: the pre-existing condition waiver, which is free on most plans, only works if you buy within the first two to three weeks after your initial deposit.
If you are still deciding whether coverage is worth it at all, our breakdown of travel insurance costs and when the coverage is worth buying walks through the math. For the CFAR upgrade specifically, see what cancel for any reason coverage gets you.
