Travel Insurance

How Much Does Travel Insurance Cost UK 2020?

We’ve priced hundreds of policies to give you an idea of what you'll pay for different destinations, types of plans (e.g., single trip or annual, multitrip), levels of cover (e.g., budget vs. premium) and family sizes. Use this information to see what fits in your budget and help you decide upon the best policy for you.

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Travel insurance for a single, week-long trip starts from as little as £5 for a trip to Europe (or £13 for a trip to America); cover for multiple trips throughout the year starts from around £9 if you're only going to Europe (or £21 if you need worldwide cover)—but prices are higher for older travellers, if you want worldwide or USA cover and for families. How much will you pay?

How Much Does Travel Insurance Cost? Single vs. Annual Multitrip

On average, annual, multitrip travel insurance policies cost just under 2X the price of single trip travel insurance in the UK. For example, to buy a budget plan covering America, Brits would pay around £12.80 for a single-trip policy to cover a one-week trip, or £21 for an annual multi-trip policy. This means that if you’ll travel only once per year, single-trip travel insurance should be more economical for you; if you travel 2 or more times per year, then you’ll probably save money by signing up for an annual, multi trip policy.

Comparing Costs: Single Trip vs. Annual, MultitipEuropeWorldwide including USA
Single Trip£5.3£12.8
Annual, multitrip£9.4£21.0
chart Comparing Average Costs of Single and Annual Multi-Trip UK Travel Insurance
Comparing Average Costs of Single and MultiTrip Travel Insurance in the UK

A good travel insurance plan can help alleviate the financial repercussions and worries of a holiday gone wrong. While cover varies from policy to policy, most basic policies will include medical emergencies, cancellation cover (e.g., if you fall ill and can’t travel), personal liability, flight delay (e.g., due to weather) and baggage (e.g., loss, theft or damage to personal belongings).

Average Cost of Cheap Travel Insurance by Age

The cost of travel insurance is a bit high for younger travellers aged 20, then prices come down are are relatively stable for people in their 30s, 40s and 50s. By 60 years of age price rise around 40-50%. But by the time you're 70 or 80 years old prices really jump up.

A healthy 80 year old would pay around 7X as much as a 30 year old—add in some pre-existing conditions and prices will be even higher. Prices below reflect the cheapest 4 star Defaqto travel insurance with a minimum of £2,000 cancellation cover from our travel insurance comparison partner Compare Cover for different ages.

Cost of Single Trip Travel Insurance by AgeEuropeWorldwide
20 years old£9.16£26.00
30 years old£7.75£19.75
40 years old£7.75£20.00
50 years old£8.50£24.25
60 years old£11.75£27.76
70 years old£22.92£60.55
80 years old£54.53£133.83
Chart showing the cost of UK travel insurance those in their 20s, 30s, 40s, 50s, 60s, 70s and 80s

How Much Does Travel Insurance Cost by Destination?

The cost of travel insurance can vary greatly depending on the geographic area(s) covered by a policy. Generally speaking, travel insurance for Europe will be cheapest; countries in North America are the most expensive. For example, a solo traveller going to a European country like France can pay as little as £5 to cover a week-long trip; cover for America would be more than double, around £13. In the following table and chart you can see the average price of cheap travel insurance by destination for single trip policies (below that we show costs for annual, multitrip policies).

How Much is Cheap Travel Insurance for a Single Trip?PremiumContents CoverBaggage Cover
France£5.3£1,050£860
Ireland£5.3£1,050£860
Turkey£5.7£1,070£915
Australia£8.0£1,425£1,250
India£9.8£1,100£1,060
Thailand£9.9£1,125£1,085
USA£12.8£1,300£1,125
Canada£12.8£1,300£1,125
(average of ten cheapest plans from comparecover.com)
chart Comparing Average Costs of Single Trip UK Travel Insurance by Destination
Comparing Average Costs of UK Travel Insurance by Destination

Similar to single trip policies, when buying an annual, multitrip policy you're likely to pay the most if you include cover for America, Canada, Mexico and the Caribbean. These countries are typically bundled together when buying annual, multitrip travel insurance. For example, a 30-year-old traveller pays around £9 for Europe but £21 for Worldwide Cover (including USA).

How Much is Cheap, Multitrip Travel Insurance for a Year?PremiumContents CoverBaggage Cover
Europe£9.4£1,220£1,065
Worldwide (excl. USA, Canada, Carib. and Mexico)£16.7£1,120£995
Australia and New Zealand£20.4£995£990
Worldwide (incl. USA, Canada, Carib. and Mexico)£21.0£1,145£1,055
(average of ten cheapest plans from comparecover.com)
chart Comparing Average Costs of Single Trip UK Travel Insurance by Destination
Comparing Average Costs of UK Travel Insurance by Destination

Insurance to the USA is expensive largely due to the high cost of medical treatment in America. Travel insurance to Europe is cheaper in part because many travel insurance providers require you to have an EHIC card before traveling—an EHIC card provides free or reduced-cost health care to residents of the EEA and Switzerland as they travel within the region. Since Brits can have health care in Europe covered through the EHIC programme, insurers expect lower medical costs for European travel and can reduce premiums as a result.

How Much Does Travel Insurance Cost: Basic vs Premium Policies

Some insurers offer an array of policies, from the most basic coverage to comprehensive coverage with all the bells and whistles. All else being equal, a policy offering a higher coverage amount typically costs more, and may charge a lower excess should you need to claim. In addition, premium policies may include additional coverage categories that are not included in cheaper, more basic policies. For example, SAFI or ESF, passport replacement, delayed departure, valuables, etc. are more likely to be found on more premium plans.

Should you pay more for a premium plan? Besides the additional coverage features you might find on a premium plan, it's worth noting that the additional price you pay for larger coverage amounts is usually small relative to the additional coverage. For example, plans with £5,000 of cancellation cover don't cost 5x as much as plans with £1,000 of cancellation cover—in fact, you'd pay around 2x as much for a £5k cancellation plan as you'd pay for a £1k plan on average.

Comparing Costs of Basic and Premium Travel InsuranceFrance Single TripEurope MultitripUSA Single TripUSA Multitrip
£1,000 Cancellation Cover£5.7£11.5£16.3£26.2
£2,000 Cancellation Cover£8.1£16.0£22.5£38.7
£5,000 Cancellation Cover£10.6£26.2£38.4£60.9
average of 10 cheapest quotes for each level of cancellation cover
chart Comparing Average Costs of UK Travel Insurance by amount of cancellation cover
Comparing the cost of cheaper travel insurance by the amount of cancellation cover

Cost of Travel Insurance for a Family

Insuring a family of four luckily doesn't cost 4x as much as insuring a solo traveller—it costs around 2.5x as much, give or take. For example, cheap multitrip travel insurance with worldwide cover for two children and two adults costs around £52 per year (vs. £21 for a solo traveller).

How Much is Travel Insurance for a Family?EuropeWorldwide including USA
Single Trip£12.3£31.7
Annual, multitrip£25.6£52.3
chart costs of cheaper travel insurance for a family of four
Comparing costs of cheaper travel insurance for a family of four

Paying for Extra Cover

Travel insurance add ons like golf, winter sports, weddings, cruises, etc. will increase your premium.

In some cases features like Travel Disruption cover need to be purchased as an optional add on, if available. This can be key cover to protect against events like the coronavirus outbreak.

You are also likely to pay more for travel insurance if you have any pre-existing medical conditions.

FAQs

Travel insurance costs range from £5 to hundreds of pounds, depending on factors like your age, your health, where you’re travelling, whether you’re buying cover for a single trip or a year, the cover limits, etc.
Unlike in the US, Cancel For Any Reason travel insurance is not available in the UK at this time.
Travel insurance for a 3 month trip around Europe costs from around £30 for the lowest levels of cover; 5 star defaqto cover starts from closer to £40. Travel insurance with worldwide cover for 3 months would cost more than 2X as much. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
Since falling ill while abroad can cost tens of thousands of pounds in medical bills, travel insurance is definitely worth it for most people.
Travel insurance with cover for the whole world costs from around £13 for a single trip and £21 for annual, multitrip cover for a 30 year old. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
The cost of travel insurance for a single trip to the USA starts from around £13 for a single traveller, and families will need to pay north of £32.
The cost of travel insurance for a two-week trip to Australia starts from around £8 to £12 for a single person and £26 for a family of four. Older travellers or those with medical conditions will pay more. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
The cost of travel insurance for a trip to Thailand starts from around £10 for a single traveller. Families will pay 2X to 3X that, and older travellers will also pay more. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
Travel insurance for a single trip to Lebanon will cost from around £8 for a young, single, healthy traveller staying for one week. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
Travel insurance to Europe costs from roughly £5 for a single trip and £10 for an annual, multitrip policy. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
Travel insurance for a one-week trip to Dubai will cost from around £10 for a single traveller; families from around £25. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.
Worldwide travel insurance costs from £12.80 for a single trip and £21 for annual, multitrip cover for one person. Check quotes for your unique plans with our travel insurance comparison site partner Compare Cover.

Methodology

To determine the average cost of travel insurance for UK consumers, we first collected travel insurance quotes from our travel insurance comparison partner Compare Cover. To get an idea of the true cost of a "cheap" policy, that is, how much someone might need to pay to secure cover, we averaged the 10 cheapest quotes to reflect costs for a range of policies at the low end of prices.

In order to standardize our results, we made certain assumptions about the type of plan and level of coverage sought by the average consumer. Other than the "age" section, our sample traveller was 30 years old and healthy with no pre-existing conditions. In the age section, the quotes reflect the cheapest 4 star Defaqto rated policy available with at least £3,000 of cancellation cover. For this part of the study we couldn't take an average of the ten cheapest quotes because there's a much smaller selection of plans available for 70 and 80 year old travellers, and including ten quotes, where available, would have really skewed the results.

Erin Yurday

Erin Yurday is the CEO, Co-founder and Editor of NimbleFins. Prior to NimbleFins, she worked as an investment professional and as the finance expert in Stanford University's Graduate School of Business case writing team. Read more on LinkedIn.

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