Frequently Asked Questions
How much does travel insurance cost?
Travel insurance averages 4-10% of total trip cost per Squaremouth and InsureMyTrip data. A $5,000 trip typically costs $250-$500 to insure. Cancel-for-any-reason (CFAR) coverage adds 40-60% but only refunds 50-75% of trip cost.
When is travel insurance worth buying?
For non-refundable trips over $1,500, international travel (especially where U.S. health insurance doesn't apply), cruises, trips during hurricane season, or when traveling with elderly relatives. Skip it for refundable bookings or short domestic trips.
Does my credit card already cover travel insurance?
Many premium cards (Chase Sapphire Preferred/Reserve, Amex Platinum) include trip cancellation, baggage, and rental car coverage when you pay with the card. Coverage limits ($5K-$10K) and exclusions vary - check your benefits guide before buying duplicate coverage.
Does credit card travel insurance replace a separate policy?
Partially. Premium cards like Chase Sapphire Reserve and Amex Platinum cover trip cancellation up to $5,000-$10,000, rental cars, and some baggage loss when you charge the trip. What they typically lack: emergency medical evacuation (which can cost $50,000-$200,000 from remote destinations), cancel-for-any-reason coverage, adventure sports injury, and cruise-specific coverage. Supplement with a standalone policy for trips over $10,000, international destinations with limited local medical care, or any cruise itinerary.
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This calculator provides estimates based on general assumptions. Actual insurance costs and coverage vary by insurer, location, and individual risk factors. Not a quote or binding offer. Contact insurance providers directly for accurate quotes and coverage options.