How much does travel insurance cost?
What drives the price, how to pay less without under insuring, and why cheapest is not always best.
Written by the Event Escapes team. Last reviewed 28 August 2026.
There is no single price for travel insurance. A plan is quoted for your exact trip, so the cost moves with your destination, dates, travellers and the level of cover you choose. Rather than a fixed figure, it helps to understand what pushes the price up or down, and then compare live quotes for your own trip.
What drives the price
The biggest factors are where you are going, how long for, the age of the travellers, and how much cover you want. Longer trips, higher risk destinations, older travellers and higher benefit limits all cost more. Extras such as adventure or winter sports cover, and a lower excess, add to the premium too.
Single trip versus annual multi trip
If you travel once, a single trip policy is usually cheapest. If you take several trips a year, an annual multi trip plan can work out cheaper overall, since it covers many trips for one premium. Compare both if you are unsure which fits your year.
How to pay less without under insuring
Choose the level of cover you actually need rather than the top tier by default, consider a higher excess to lower the premium, and buy early so you are not paying a premium for last minute cover. Do not cut medical or cancellation cover just to save a little, since those are the benefits that protect you from the largest bills.
Why the cheapest plan is not always the right one
A low premium can mean lower limits, a higher excess or more exclusions. Before you choose on price alone, check the medical and cancellation limits, the excess, and what is excluded. The right plan is the one that covers your trip properly for a fair price, not simply the lowest number.
Get a price for your trip
The only accurate cost is a live quote for your specific trip. Enter your destination, dates and travellers to compare real prices and cover side by side.
FAQs
Why is my travel insurance quote different from last time?+
Prices are live and change with your trip details and the insurers’ own pricing. A different destination, date range, traveller age or cover level will change the quote, so two quotes are rarely identical.
Does buying earlier cost more?+
No. Buying earlier does not usually raise the premium, and it means your cancellation cover starts sooner, protecting your deposits for longer. Leaving it late gains you nothing and risks losing cover for anything that happens before you buy.
Comparison information only. Event Escapes is not an insurer and does not provide personal financial advice. This guide is general information, not a recommendation. Cover, limits and exclusions vary by plan and by your country of residence and destination. Always read the insurer’s policy documents before you buy.