A simple way to calculate trip cost for your travel insurance policy

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1. Add your prepaid, nonrefundable accommodation expenses

Did you book an Airbnb cabin in the mountains in Montana or an overwater bungalow in the Maldives? Wherever you’ve decided to stay, if you paid in advance and can’t get a refund, add the total amount to your travel insurance trip cost.

Remember seeing “free cancellation” as a feature when searching for places to stay? If you booked an accommodation that lets you cancel at no cost, you don’t need to include the expense when you calculate your trip cost (because you don’t need to get coverage for an expense you can get back elsewhere). Make sure to check whether or not your accommodation booking includes free cancellation before adding it to your travel insurance trip cost.

2. Add your prepaid, nonrefundable flight or cruise tickets

Whether you’re embarking on a transatlantic cruise to explore Europe or flying to Thailand to visit an elephant sanctuary, if your tickets are nonrefundable and you’ve already paid, add the expense to your travel insurance trip cost.

It's crucial to include the cost of your flights and cruises when you're working out how much to insure your trip for. These big-ticket items often come with hefty price tags and are usually nonrefundable, so they should be added when you calculate your trip cost.

After you calculate your trip cost, always double-check the policy to see the full terms and conditions for flights and cruise coverage to make sure your travel insurance suits your trip plans.

3. Add your prepaid, nonrefundable transportation bookings

Want to enjoy the freedom of exploring Florida’s beaches in a rental car? Or maybe you’re prepaying for Eurail train tickets so you can stop in multiple European countries. If you paid in advance for transportation you’ll enjoy once you’ve arrived, add those nonrefundable expenses to your travel insurance trip cost.

4. Add your prepaid, nonrefundable tours, events, and activities

Did you book a snorkeling cruise excursion in the Bahamas or a tour of the Colosseum in Rome? Or perhaps you bought tickets to a professional soccer game in Madrid or concert in London. You’ve likely planned some fun activities for your trip, and if you already paid and can’t get a refund, add these bookings to your travel insurance trip cost when getting a quote.

Tours and events are often nonrefundable, which means if bad weather ruins your snorkeling trip or you’re too sick to attend the concert you’re traveling for, you won’t get your purchase back. So, make a list of all your prepaid, nonrefundable activity expenses and include them when you calculate your trip cost.

5. Add your prepaid, nonrefundable meal packages and dining experiences

Buying food and beverage packages can be a great way to cruise on a budget or save money at a resort. But if you buy nonrefundable packages and suddenly can’t go on your trip, you’ll be paying for packages you didn’t use. So, it’s important to add meal packages to your travel insurance trip cost.

Thinking about trying a unique dining experience during your getaway? Whether you booked a traditional Japanese kaiseki dinner in Kyoto or a Greek feast on Rhenia island, if your payment is nonrefundable, add it to the list when you calculate your trip cost.

You’re ready to complete your travel insurance quote!

Now that you know how to calculate trip cost for your upcoming vacation, it’s time to finish protecting it. Remember, if a trip expense is paid for ahead of time and you can't get the money back if your travel plans change, it should go into your trip cost calculation. This way, you know you have the right coverage and can feel more confident as you look forward to your travel experiences.