The best travel insurance companies should be able to meet your needs at a price you're willing to pay. Sometimes, you're just not willing to pay that much. The following companies offer decent coverage for low prices.
To determine which companies made this list, we compared quotes across the travel insurance industry for the same trip, making a note of which companies offered particularly good coverage in certain areas and which companies were well reviewed.
Here are the best cheap travel insurance companies picked by Business Insider editors in 2025.
Best Cheap Travel Insurance Plans
- Best cheap travel insurance overall: HTH Worldwide Travel Insurance
- Best cheap travel insurance for trip cancellation: Aegis General Travel Insurance
- Best cheap travel insurance for medical-only coverage: GeoBlue Travel Insurance
- Best cheap travel insurance for families: Travel Insured International
- Best cheap travel insurance for value: Nationwide Travel Insurance
- Best cheap travel insurance for multiple trips: Trawick International Travel Insurance
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Best Cheap Travel Insurance Overall
A-
- Three plans to choose from
- Reasonable premiums
- CFAR coverage available with some plans
- High medical emergency and evacuation coverage
- Special coverages for pets, sports equipment, etc not available
- Limited reviews with complaints about claims not being paid
- Trip cancellation of up to $5,000 with the Economy plan and up to $50,000 with the Preferred plan
- Cancel for any reason insurance and missed connection insurance available with the Preferred plan
- Baggage delay insurance starting after 24 or 12 hours depending on the plan
The HTH Worldwide Travel Insurance Economy plan offers the most comprehensive coverage across major categories of all the providers in this guide.
You'll have some peace of mind with up to $75,000 of financial protection for eligible medical emergencies, and up to $500,000 per person for medical evacuation costs. For more everyday expenses, you can also relax with baggage loss and delay, trip interruption, cancellation and delay coverage that will help you recoup many, if not all, of your costs.
However, this plan falls short on missed connection benefits and accidental death coverage, both of which are not available under most circumstances (missed connection coverage only applies to cruises, and will only cover up to $500 per person after a three-hour delay).
Best Cheap Travel Insurance for Trip Cancellation
B++
- Offers a CFAR upgrade add-on on certain plans
- Comprehensive insurance plans include generous coverage for baggage loss, plus protection from hurricane and other intense weather-related issues
- Competitive pricing
- Online complaints about claims not being paid and non-responsiveness
- Not all more expensive plans include CFAR coverage
- Dropping rating with AM Best
- Annual and multi-trip plans available
- All plans include pandemic coverage for COVID-19
- Coverage for weather-related delays, cancellations and other incidents
The Aegis General Travel Insurance Trip Cancellation Plan is exactly that: a cost-effective plan that offers protection in the event that your trip is canceled for a covered reason. The plan we priced out for our hypothetical trip cost just 1.16% of our total travel expenses — a very small amount of money to pay for the guarantee of our money back in the right circumstances.
The benefit is that this plan can supplement other coverage you already have, or give you a little bit of protection for a trip where you might not otherwise have opted for insurance altogether. On the downside, you won't get any protection for medical emergencies, trip interruption or delays or lost bags from this plan.
Best Cheap Travel Insurance for Medical Coverage
A-
- A subsidary of Blue Cross Blue Shield
- Offers strong medical plans as long as you have a regular health insurance plan, but it doesn't have to be through Blue Cross
- Offers long-term and multi-trip travel protection
- Multiple complaints about claims not being paid or being denied
- Does not provide some of the more comprehensive coverage like CFAR insurance
- Buyers who do get claims paid may need to file multiple claim forms
GeoBlue Travel Insurance is a travel insurance provider that specializes in travel medical insurance. Because it doesn't offer much trip protection or travel inconvenience coverage, it can charge cheaper premiums. A 30-year-old from a California ZIP code could pay as low as $20.55 for a policy that covers a two-week trip.
GeoBlue plans can cover medical expenses up to $1 million with several multi-trip annual plans available. It offers coinsurance plans for trips within the U.S. and 100% coverage for international trips. It also has a network of clinics in 180 countries, streamlining the claims process. It's worth noting that coverage for pre-existing conditions comes with additional costs.
Best Cheap Travel Insurance for Families
A
- Offers 2 major plans including CFAR coverage on the more expensive option
- Cancellation for job loss included as a covered reason for trip cancellation/interruption (does not require CFAR coverage to qualify)
- Frequent traveler reward included in both policies
- Up to $1 million in medical evacuation coverage available
- Medical coverage is only $100,000
- Reviews on claims processing indicate ongoing issues
- C&F's Travel Insured policies allow travelers customize travel insurance to fit their specific needs. Frequent travelers may benefit from purchasing an annual travel insurance plan, then adding on CFAR coverage for any portions of travel that may incur greater risk.
There's a lot to like about Travel Insured International, a travel insurance company owned by insurance giant Crum & Forster . For one, it is one of the only travel insurance companies that offers CFAR coverage for annual travel insurance plans. Additionally, Travel Insured International is widely praised for its customer service, offering quick reimbursements for claims. Claims that don't reimburse within 30 days begin to accrue interest at 9% APY.
When it comes to affordability, Travel Insured International's policies aren't actually particularly cheap for younger solo travelers. However, it stands out in affordability for families with its child-inclusive policies, meaning kids 17 and under are covered for free when traveling with a covered adult.
Travel Insured International's Deluxe and Platinum plans offer child-inclusive premiums.
Best Cheap Travel Insurance for Value
A-
$206
N/A
Up to 200%
- Three cruise-specific plans to choose from
- Annual travel insurance plans available
- Strong trip cancellation coverage
- Cancel for any reason coverage available
- CFAR insurance not available with every single plan
- Medical coverage is lower than what some competitors offer
Nationwide Travel Insurance offers many of the standard benefits you might see with a travel insurance policy. This can include things like trip cancellation coverage, so you can recover pre-paid costs or trip interruption in the event your vacation is interrupted by an unexpected event. There's also baggage delay coverage and medical coverage.
Nationwide- Trip cancellation coverage of up to 100% of trip costs (for cruises) or up to $30,000 (for single-trip plans)
- Cancel for any reason coverage available
Nationwide Travel Insurance is a well-rounded alternative to HTH Worldwide Trip Protector Economy. This plan offers solid protection for both travel-related snafus as well as situations that might call for emergency medical and evacuation, making it a good choice for trips where you have cause to worry about potential interruptions or delays. However, it does not offer protection for missed connections or accidental death.
Best Cheap Travel Insurance for Multiple Trips
- Useful for adventurous travelers headed to higher-risk destinations
- Affordable plans with varying levels of coverage
- 10-day free look option
- Generous baggage loss replacement policy
- Trip delay coverage kicks in after just six hours
- Some policies allow a CFAR add-on
- Up to $1 million medical evacuation coverage limit
- Baggage and trip delay coverages don’t kick in until after the 12-hour mark
- International student policies available for temporary stints abroad
- Complaints about claims not being paid or involving an intermediary to resolve claims
Trawick International travel insurance offers plans customized to diverse travelers' needs. We look at coverage options, claims processing, pricing, and other important factors for savvy travelers.
Trawick International Travel Insurance- Travel medical insurance
- Trip protection and cancellation
- International student insurance
- Visitor medical insurance (for traveling to the US)
Trawick International Travel Insurance offers three tiers of coverage for annual multi-trip travel insurance: Basic, Deluxe, and Executive. It charges flat fees for each tier of coverage, charging $163 for Basic, $421 for Deluxe, and $817 for Executive.
Its Basic plan offers coverage for multiple trips under 30 days with $2,500 of travel cancellation coverage over the policy term and $10,000 in emergency medical coverage.
As travel insurance premiums often rise for older travelers, the flat fee is great for older travelers who are looking for cheap annual travel insurance. Travelers up to 81 years old are eligible for coverage.
Compare Affordable Travel Insurance Companies
Types of Affordable Travel Insurance
Comprehensive Travel Insurance Coverage
This type of travel insurance offers both travel medical insurance and trip cancellation coverage. Depending on your policy, you may also get benefits like lost baggage, trip delay, and emergency evacuation coverage.
Premiums for comprehensive coverage will be higher than if you bought trip cancellation on its own. However, you can still get cheap comprehensive coverage. You'll just need to choose a lower coverage level. While this may not be ideal for more expensive trips, lower coverage should be sufficient for budget travel.
Medical-Only Coverage
As the name suggests, this policy focuses solely on travel medical emergencies, dropping trip cancellation coverage and travel inconvenience coverage. It's a cost-effective option for travelers who are primarily concerned about health-related expenses.
Evacuation and Repatriation
In extreme cases where you need to be evacuated due to a medical emergency or a natural disaster, this coverage ensures that you can return home safely without incurring huge costs. It's a particularly important benefit for cruise insurance, where sea-to-air evacuations can be costly.
Similar to medical-only coverage, doing away with trip cancellation and inconvenience coverage can save you money.
Benefits of Opting for Cheap Travel Insurance
Cost Savings
Just because a travel insurance policy is cheap doesn't mean it's lacking. Many affordable policies offer substantial coverage, giving you peace of mind without breaking the bank. It'll also leave you with more money to spend during your trip.
Adequate Coverage for Less
Not every trip needs the most comprehensive insurance policy. For example, trips where most of your bookings are refundable may not warrant trip cancellation insurance, further reducing the cost of your travel insurance.
Additionally, you may want to forgo travel medical insurance and save money if you're young and in generally good health or if you're taking a short, low-risk trip.
All this is to say that you should seriously consider what kind of trip you're taking before rushing to the most comprehensive travel insurance policy.
How to Pick The Best Cheap Travel Insurance Plan for You
No single travel insurance plan will meet the needs of every single traveler. By nature, we are diverse and evolving meaning travel insurance should be equally so. Travel insurance for a week-long trip to a big city shouldn't be the same as the coverage for a backpacking expedition in the mountains. A splurge to purchase comprehensive insurance coverage may also be worth it for international ventures or other large expenditures.
In most cases, the cost difference between a basic and comprehensive travel insurance plan isn't as significant as you might think. Regardless, it's generally a good idea to choose a trusted travel insurance provider known for exceptional customer service and coverage. (For this roundup, we looked at traveler reviews shared through the travel insurance aggregator SquareMouth.)
- Assessing Your Travel Needs: Consider the nature of your trip, the destination, and your own personal needs when choosing a policy. This ensures that you're not over-insured or underinsured.
- Comparing Different Policies: Don't settle for the first policy you find. Compare different options, looking at their coverage and prices, to find the best fit for your budget and needs.
- Reading the Fine Print: Always read the terms and conditions carefully to understand what's covered, what's not, and the process for making a claim.
Why You Should Trust Us: How We Reviewed Cheap Travel Insurance
To determine the best insurance plan for travelers on a budget, we evaluated dozens of products using a hypothetical trip to Australia for a single traveler, age 26, with a total cost of $2,500 for flight, hotel and other incidentals. We then compiled the plans that covered the essentials at the lowest costs.
Of note: All of these plans include COVID-related medical coverage and 24-hour assistance, and pay at least 100% of your trip cost for eligible trip cancellations. None include rental car coverage.
Cost
The four winning plans cost between $29 to $74 — significantly below the average cost of comprehensive travel insurance, which can range between 4% to 8% of total travel expenses, according to the U.S. Travel Insurance Association.
But these affordable plans also come with comparably low ceilings for various aspects of coverage such as emergency medical, trip cancellation, or delay — and do not include rental car or "cancel for any reason" (CFAR) protection. So if you think you might need these benefits, it may well be worth upgrading to a comprehensive travel insurance plan for a few more dollars, just for the peace of mind.
Convenience and Flexibility
Each of the plans in this list include 24-hour assistance worldwide from reputable insurance providers. And despite being on the lower end of insurance plans, each of these options includes refunds for up to 100% of your total trip cost for eligible reasons. Each of these plans also includes medical coverage for COVID-related issues that may arise during your travels, which may come in handy as the pandemic continues to evolve worldwide.
Sufficient Coverage in Essential Categories
The cheapest travel insurance plan will rarely cover every scenario that could go awry on your trip. However, each of these plans can at least help you get your money back in the event that your travel is canceled for an eligible reason, and most of them include travel medical insurance if you incur emergency medical bills while traveling. We also factor in what travelers are most concerned about now.
You can read more about how Business Insider rates travel insurance.
FAQs
What is the average cost of travel insurance?
The average cost of travel insurance is $303 as of March 2025.
How can I reduce the cost of travel insurance?
You can reduce the cost of travel insurance by opting for simpler coverage or choosing higher deductibles on travel medical insurance.
Do cheap travel insurance plans cover preexisting conditions?
Unfortunately, many travel insurance companies that cover preexisting conditions reserve coverage for its more expensive plans. That said, you'll find some providers that cover preexisting conditions with their value plan, such as C&F Travel Insured and Berkshire Hathaway.
Is cheap travel insurance worth it?
Yes, cheap travel insurance can still go a long way if something happens on your trip.
What factors affect travel insurance costs?
Factors like your age, trip cost, trip length, and destination affect your travel insurance cost.
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