Travel insurance is an essential safeguard for UK residents planning trips abroad, providing financial protection against unexpected medical emergencies, trip cancellations, lost luggage, and other unforeseen events that could disrupt travel plans. It ensures peace of mind by covering costly incidents that may arise before or during a trip. However, the cost of travel insurance can vary significantly based on factors such as age, destination, trip duration, policy type, and the level of coverage chosen.
Average Cost of Travel Insurance By Age
One of the biggest factors affecting the price of travel insurance is age. As travelers get older, premiums increase due to higher health risks and the potential for medical claims. Here are the average single-trip travel insurance costs:
- 20 years old: £11 for Europe, £31 for worldwide
- 30 years old: £11 for Europe, £30 for worldwide
- 40 years old: £12 for Europe, £35 for worldwide
- 50 years old: £13 for Europe, £36 for worldwide
- 60 years old: £15 for Europe, £46 for worldwide
- 70 years old: £30 for Europe, £99 for worldwide
- 80 years old: £87 for Europe, £339 for worldwide
Insurance premiums remain relatively stable for travelers in their 20s through 50s. However, there is a sharp increase at age 60, with prices rising significantly for those in their 70s and 80s. For example, an 80-year-old traveler pays nearly ten times more than a 30-year-old for the same policy. This is due to insurers factoring in higher medical risks and the likelihood of needing emergency healthcare while abroad.
How Destination Impacts Travel Insurance Costs
The destination of a trip also plays a key role in determining travel insurance prices.
- European travel insurance is generally cheaper due to reciprocal healthcare agreements, such as the UK Global Health Insurance Card (GHIC), which covers some emergency treatments in EU countries.
- Worldwide policies, especially those covering the United States, Canada, or Japan, are more expensive due to higher healthcare costs in those regions.
Other Factors That Influence Travel Insurance Prices
Several other factors can affect the cost of travel insurance, including:
- Trip duration: Longer trips cost more to insure since the chance of needing medical care or making a claim is higher.
- Type of policy: Single-trip insurance is ideal for one-time vacations, while annual multi-trip policies can be more cost-effective for frequent travelers. Comprehensive policies with higher medical coverage limits and extra benefits (like lost luggage reimbursement) are more expensive than basic policies.
- Pre-existing medical conditions: Travelers with medical conditions may face higher premiums or need specialist coverage. Some insurers may exclude coverage for certain conditions altogether.
- Optional add-ons: Extra coverage such as adventure sports insurance, gadget protection, or cruise coverage can increase the cost of a policy but may be necessary depending on travel plans.
How To Save On Travel Insurance In 2025
To get the best deal on travel insurance, consider these money-saving tips:
- Compare policies online using comparison websites to find the best rates.
- Buy insurance early to ensure coverage for trip cancellations.
- Only pay for what you need and avoid unnecessary add-ons.
- Declare pre-existing medical conditions to avoid rejected claims.
- Consider multi-trip insurance if traveling frequently.
Finding Affordable Travel Insurance in 2025
The cost of travel insurance in the UK for 2025 varies based on age, destination, and health factors. While younger travelers can secure lower-cost policies, those over 60 should expect higher premiums. For those looking to save money, comparing policies, choosing the right coverage, and booking insurance early can help keep costs down while ensuring adequate protection for your trip.