How Much Should You Expect to Pay for Travel Insurance This Summer?

If you have a trip planned for this summer, you may anticipate purchasing travel insurance for said trip, just in case. After all, hurricane season and volatile weather in the Midwest can wreak havoc on your travel plans, and that’s just considering delay and cancellation threats to domestic travel.

So, how much can you expect to pay for travel insurance this summer? According to travel insurance provider SquareMouth, the average cost for comprehensive travel insurance policies on the platform to cover travel this summer is $595. The average price for less-comprehensive policies without cancellation coverage is $93.

The provider notes a comprehensive policy will generally be about 5–10 percent of your trip’s cost, and a comprehensive policy covers not just cancellation, but also delays, luggage loss and medical emergencies, among other potential issues.

However, it’s not just your total trip cost that impacts your policy price. Other factors considered when an insurer provides you with a policy quote include your age (SquareMouth says older travelers often receive higher policy quotes) and length of trip, with the longer the trip, the higher the premium. Upgrades can also increase your costs dramatically by up to 40 percent if you add on extras like rental car coverage or “cancel for any reason” coverage.