Travel Insurance Cost Calculator
What travel insurance costs per person per day, and what it would cost you not to have it.
Travel insurance is cheap until the moment it is not. The comparison that matters is the premium against the cost of the events it covers: a medical bill abroad, a cancelled trip, a lost bag, a missed connection.
Enter the quotes, the trip and the risks you want to cover, and this calculator shows the cost per person per day and how it compares with the exposure it is insuring.
At a glance
- What you enter
- Premium per person, Travellers, Days of cover, Value of the trip, Medical cover limit, Excess per claim, Claims you expect, Annual policy price (optional), Trips per year
- What you get
- Premium for the trip, Cost per person per day, Real cost including expected claims, Premium as a share of what is covered, Annual policy saving
- Formula shown
- Yes - every step, right below your results.
- Cost and privacy
- Free, no account needed, and nothing you type is stored.
See worked examples ↓ Read the FAQ ↓ Share this calculator ↓
Results are estimates for general information only - always verify with a professional or official source before acting on them.
How to use the Travel Insurance Cost Calculator
- 1 Enter Premium per person
- 2 Enter Travellers (people)
- 3 Enter Days of cover (days)
- 4 Enter Value of the trip - What you would lose if the trip were cancelled.
- 5 Enter Medical cover limit
- 6 Enter Excess per claim
- 7 Enter Claims you expect - Most trips produce none, so a fraction like 0.2 is realistic.
- 8 Enter Annual policy price (optional) - Enter 0 if you are only comparing single-trip cover.
- 9 Enter Trips per year
- 10 Press Calculate. You get Premium for the trip, Cost per person per day, Real cost including expected claims, Premium as a share of what is covered, Annual policy saving, and every intermediate step stays visible under “How is this calculated?”
- 11 Change one number at a time to see what moves the result - that is usually the most useful thing a calculator can tell you.
Worked examples
Real numbers run through this calculator. Open any example to load it into the form above and change it.
Two travellers for fourteen days with a $52 premium each
A $2,800 trip with $100,000 of medical cover, a $75 excess and an annual policy at $190.
You enter
- Premium per person
- $52.00
- Travellers
- 2 people
- Days of cover
- 14 days
- Value of the trip
- $2,800.00
- Medical cover limit
- $100,000.00
- Excess per claim
- $75.00
- Claims you expect
- 0.20
- Annual policy price (optional)
- $190.00
- Trips per year
- 2
You get
- Premium for the trip
- $104.00
- Cost per person per day
- $3.71
- Real cost including expected claims
- $119.00
- Premium as a share of what is covered
- 0.1%
- Annual policy saving
- $18.00
The policy costs $104 for the trip, which is $52 each and $3.71 per person per day, or $7.43 a day for the party. It covers $102,800 of cancellation and medical exposure, so the premium is 0.1% of what it insures. Adding an expected excess of $75 on 0.2 claims brings the real cost to $119. Two separate policies in a year would cost $208, so the $190 annual policy saves $18 and is cheaper.
A family of four travelling three weeks with higher cover
A $6,500 trip with $250,000 of medical cover and five trips a year to compare.
You enter
- Premium per person
- $140.00
- Travellers
- 4 people
- Days of cover
- 21 days
- Value of the trip
- $6,500.00
- Medical cover limit
- $250,000.00
- Excess per claim
- $100.00
- Claims you expect
- 0.50
- Annual policy price (optional)
- $320.00
- Trips per year
- 5
You get
- Premium for the trip
- $560.00
- Cost per person per day
- $6.67
- Real cost including expected claims
- $610.00
- Premium as a share of what is covered
- 0.2%
- Annual policy saving
- $2,480.00
The premium is $560 for the four travellers, which is $140 each and $6.67 per person per day. The cover is $256,500 of trip value and medical limit, so the premium is 0.2% of the exposure. With a $100 excess on half a claim expected, the real cost is $610. Five separate trips at this premium would cost $2,800 in a year against a $320 annual policy, so the annual policy saves $2,480, though the per-trip day limits would need to allow a three week trip.
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Frequently asked questions
Is the premium per person or for the whole party?
Per person. The premium is multiplied by the number of travellers to get the cost for the trip, and it is also divided by the days to get the cost per person per day. A $52 premium for two travellers on a fourteen day trip is $104 for the party, or $3.71 per person per day.
Family policies often price children differently, sometimes free and sometimes at a reduced rate. If your quote is not a flat per-person figure, enter the average per person so the total, the per-day figure and the annual comparison all stay accurate.
Why is the expected number of claims a fraction?
Because most trips produce no claim at all. A figure of 0.2 means one claim every five trips, which is a realistic average for a household that travels a few times a year. The calculator multiplies that by the excess per claim to show what you expect to pay out of your own pocket, which is money the premium does not cover.
The claims figure is an average, not a prediction. Its value is in making the excess visible: a policy with a $75 excess and one with a $200 excess cost the same premium per year but behave differently the moment something is lost.
When is an annual policy worth it?
The annual saving line answers this directly. It multiplies the per-person premium by the travellers and the trips per year, then subtracts the annual policy price. A household taking two trips with a $104 premium each would pay $208 for separate cover, so a $190 annual policy saves $18. At five trips the separate policies would cost $520 and the saving is $330.
The catch is trip length and destination. Annual policies often cap the number of days per trip and exclude some countries, and a long trip may need a single-trip policy on top. Check the limits before assuming the annual policy covers everything you have planned.
What does the cover ratio actually compare?
It divides the premium by the value of the trip you could lose plus the medical cover limit, and reports the result as a percentage. A $104 premium against $2,800 of cancellation value and $100,000 of medical cover is 0.1% of what is being insured. It is a way of seeing how small the premium is against the exposure.
It is not a measure of value for money, because the medical limit is a ceiling rather than an expected cost and most trips produce no claim at all. What it does show is the asymmetry: the premium is small and the event it protects against is not.