Travel Insurance Premium Calculator

This Travel Insurance Premium Calculator estimates what an Indian traveller will pay for an overseas trip policy. It models the four things insurers actually price on — your destination region, the medical sum-insured tier you choose, your age, and how many days you are away — then adds optional covers and 18% GST. It is built for leisure travellers, students heading abroad, parents visiting family, and anyone applying for a Schengen or other visa that demands proof of medical cover. Premiums are shown in ₹, and you can compare coverage tiers side by side before buying from Bajaj Allianz, Tata AIG, ICICI Lombard, HDFC ERGO or Reliance General.

How the premium is calculated

Travel insurance is priced per day, not as a flat annual figure. The method the calculator follows is:

Total = (Base per-day rate × days × age multiplier) + Add-ons + 18% GST

The base per-day rate depends on the destination region and the sum-insured tier. Asia is the cheapest band; the Schengen area and the rest of Europe cost more; and worldwide cover that includes the USA and Canada is the most expensive, because American medical bills are extraordinary. The age multiplier is where premiums move sharply: a traveller in their 30s pays close to the baseline, while a traveller aged 60-plus can pay two to three times as much for the identical itinerary, reflecting higher claim probability. Longer trips simply multiply the daily rate by more days, though insurers offer better per-day value on annual multi-trip plans.

A worked example in ₹

Take a 35-year-old planning a 10-day holiday in the Schengen zone with a US$100,000 medical tier. The base daily rate for that region and tier is multiplied across 10 days, the age multiplier near 1.0 leaves it largely unchanged, and 18% GST is added to give a total in the region of ₹900-1,200 — roughly ₹90-120 per day. Now switch the destination to worldwide-including-US and bump the tier to US$250,000: the daily rate climbs steeply and the total can easily double. Switch the trip type to Student for a semester abroad and the engine prices a longer-duration policy designed for one or two years of study, which is far cheaper per day than buying repeated short-trip cover.

Choosing the right cover

The single most common requirement is the Schengen visa rule: every applicant must show a minimum of €30,000 medical cover, valid across all Schengen states for the full trip. The US$50,000 tier comfortably clears this floor, but most consulates are happier to see US$100,000, and some also ask for trip-cancellation cover. For the USA or Canada, the €30,000 logic does not apply at all — a single emergency-room visit can run into thousands of dollars, so US$250,000 to US$500,000 is the sensible range despite the higher cost. The add-ons in the calculator cover the common gaps: adventure-sports cover (for skiing, scuba or trekking, which standard policies exclude), pre-existing-disease cover (which carries a loading), and trip-cancellation cover priced as a percentage of your prepaid trip cost.

Tips and India-specific notes

• Buy before you fly. Most policies must be issued in India before departure; you usually cannot buy or extend cover once you have already left the country.
• Match the policy dates to your visa and tickets. The cover must span every day you are abroad — a one-day gap can invalidate a visa application or leave you exposed on the return leg.
• Declare pre-existing conditions honestly. Hiding diabetes, hypertension or heart conditions to save on the PED loading is the fastest way to have a genuine claim rejected.
• Annual multi-trip pays off for frequent flyers. If you take three or more international trips a year, an annual plan (with a per-trip day cap, typically 30-45 days) usually beats buying single-trip cover each time.
• These are indicative estimates. Final premiums depend on the insurer's underwriting, your exact age within a band, and the sub-limits you pick, so confirm with a live quote. Travel insurance is strongly advised but, except for visa mandates, is not legally compulsory.