Do I need travel insurance?
Yes, for most trips.
It's cheap insurance against a flight cancellation or a medical bill abroad. The one thing that changes it: how much you've already spent and can't get back.
Checked Sep 9
What's your trip worth?
Why?
Medical is the big one Your home insurance won't cover you abroad, and a hospital stay can run tens of thousands.
Cancellation covers the sunk cost If you prepaid flights and hotels, a policy refunds them when life happens.
It's cheap A few percent of trip cost buys real protection; that's a good trade.
If you're traveling domestically with refundable bookings and good health, you can skip it.
If your situation is different
What's your trip worth: Under $500. Probably skip it. If you can eat the loss, the premium isn't worth it.
What's your trip worth: $500 to $2K. Worth it for peace of mind. One cancellation pays for the policy.
What's your trip worth: Over $2K. Yes, get it. The cost is a rounding error next to what you could lose.
Who is travel insurance right for?
Right for
- Anyone with a prepaid trip over $2,000
- Travelers to countries with expensive medical care
- People with chronic conditions or older travelers
- Adventure travelers doing risky activities
Wrong for
- Trips under $500 with refundable bookings
- Domestic trips with credit card coverage
- Travelers with pre-existing conditions not covered
- Those who already have annual multi-trip coverage
What does travel insurance cost in 2026?
| Figure | Value | Why it matters |
|---|---|---|
| Typical policy cost | 4% to 8% of trip cost, 2026 | A $3,000 trip costs $120 to $240 for coverage. |
| Average emergency medical evacuation | $50,000 or more, 2026 | One medevac can wipe out savings; insurance covers it. |
| Trip cancellation coverage limit | Up to 100% of prepaid costs, 2026 | Refunds non-refundable flights and hotels if you cancel for covered reasons. |
| Medical coverage typical limit | $100,000 to $500,000, 2026 | Covers hospital bills abroad that your home insurance won't. |
What's the biggest travel insurance mistake?
The biggest mistake is buying the cheapest policy without reading the fine print. Many policies exclude pre-existing conditions, adventure sports, or cancel-for-any-reason coverage. Instead, check the exclusions first and buy a policy that covers your specific activities and health situation.
How do you decide if travel insurance is worth it?
- Add up your prepaid, non-refundable trip costs.
- Check if your credit card or existing insurance already covers you.
- If trip cost is over $2,000, get quotes from two or three insurers.
- Read the policy for exclusions on medical, activities, and pre-existing conditions.
People also ask
What does a typical policy cover?
Trip cancellation, medical, baggage, and delays. That's the core of most travel insurance policies. The limits and exclusions are where the fine print matters.
How do I compare policies?
Compare on coverage, not price. Cheapest often means skinniest. Match what's covered to your trip, then compare costs.
Does my credit card already cover me?
Probably, but check the fine print. Most travel credit cards include some trip insurance, but it's usually secondary and has limits. It comes down to which card you carry and what it covers.
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