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Travel Insurance Market Size, Share and Forecast 2026-2036

The global travel insurance market is worth USD 29.2 bn in 2026 and is forecast to reach USD 61.8 bn by 2036, growing at a 7.8% CAGR. United States is the largest country market and Single-trip policies is the largest by cover segment.

USD 29.2 bnMarket size 2026
USD 61.8 bnForecast 2036
7.8%CAGR 2026-2036
United StatesLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global travel insurance market is worth USD 29.2 bn in 2026 and is forecast to reach USD 61.8 bn by 2036, growing at a 7.8% CAGR. United States is the largest country market and Single-trip policies is the largest by cover segment.

ScopePremiums written on travel insurance policies: trip cancellation, medical, baggage, delay and annual multi-trip covers sold to leisure and business travellers.
IndustryTravel and Tourism
Value 2025USD 27.0 bn
Value 2026USD 29.2 bn
Value 2036USD 61.8 bn
CAGR 2026-20367.8%
Volume 2026424 million policies
Volume 2036736 million policies
Average price 2026USD 68.8 per policie
Report priceStarts from USD 1,999
PublishedNovember 2026

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Travel Insurance market size and forecast, 2026-2036

Exhibit 1The global travel insurance market is forecast to grow from USD 29.2 bn in 2026 to USD 61.8 bn by 2036, more than doublingGlobal market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 7.8%
Travel Insurance market value, 2025 to 2036Market value by year. 2025: USD 27.0 bn; 2026: USD 29.2 bn; 2027: USD 31.4 bn; 2028: USD 33.9 bn; 2029: USD 36.5 bn; 2030: USD 39.4 bn; 2031: USD 42.5 bn; 2032: USD 45.8 bn; 2033: USD 49.3 bn; 2034: USD 53.2 bn; 2035: USD 57.3 bn; 2036: USD 61.8 bn. Compound annual growth rate 2026 to 2036: 7.8%.202529.2 bn202642.5 bn203161.8 bn20367.8% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 29.2 bn
2027USD 31.4 bn
2028USD 33.9 bn
2029USD 36.5 bn
2030USD 39.4 bn
2031USD 42.5 bn
2032USD 45.8 bn
2033USD 49.3 bn
2034USD 53.2 bn
2035USD 57.3 bn
2036USD 61.8 bn

Travel Insurance market segmentation

By cover

Exhibit 2Single-trip policies is the largest segment by cover, with 54.0% of 2026 revenueEstimated share of 2026 global revenue, by cover
Travel Insurance market share by cover, 2026Share of 2026 revenue by cover. Single-trip policies: 54.0%; Annual multi-trip policies: 30.0%; Long-stay and student policies: 16.0%.Single-trip policies54.0%Annual multi-trip policies30.0%Long-stay and student policies16.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Single-trip policies54.0%50.5%USD 15.7 bn7.1%
Annual multi-trip policies30.0%32.3%USD 8.7 bn8.6%
Long-stay and student policies16.0%17.2%USD 4.7 bn8.6%

By channel

Exhibit 3Direct and online adds the most revenue by channel, growing from USD 10.5 bn in 2026 to USD 26.3 bn by 2036Estimated revenue in USD by channel, 2026 and 2036 forecast
Travel Insurance market by channel, 2026 and 2036Revenue by channel in 2026 and 2036. Direct and online: USD 10.5 bn in 2026, USD 26.3 bn in 2036, change +150%; Travel agents and operators: USD 8.2 bn in 2026, USD 14.1 bn in 2036, change +73%; Credit cards and banks: USD 5.8 bn in 2026, USD 12.1 bn in 2036, change +108%; Insurers brokers and others: USD 4.7 bn in 2026, USD 9.3 bn in 2036, change +99%.20262036 forecastChangeDirect and online+150%10.5 bn26.3 bnTravel agents and operators+73%8.2 bn14.1 bnCredit cards and banks+108%5.8 bn12.1 bnInsurers brokers and others+99%4.7 bn9.3 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Direct and online36.0%42.5%USD 10.5 bn9.6%
Travel agents and operators28.0%22.8%USD 8.2 bn5.6%
Credit cards and banks20.0%19.7%USD 5.8 bn7.6%
Insurers brokers and others16.0%15.0%USD 4.7 bn7.1%

By trip scope

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Domestic trips18.0%17.0%USD 5.2 bn7.2%
Regional international trips34.0%33.0%USD 9.9 bn7.5%
Long-haul trips36.0%37.0%USD 10.5 bn8.1%
Worldwide multi-region trips12.0%13.0%USD 3.5 bn8.7%

By age band

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Under 3528.0%28.0%USD 8.2 bn7.8%
35 to 5434.0%32.0%USD 9.9 bn7.2%
55 to 6926.0%26.0%USD 7.6 bn7.8%
70 and over12.0%14.0%USD 3.5 bn9.5%

By cover level

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Basic30.0%26.0%USD 8.7 bn6.3%
Standard40.0%40.0%USD 11.7 bn7.8%
Comprehensive22.0%24.0%USD 6.4 bn8.7%
Premium cancel-for-any-reason8.0%10.0%USD 2.3 bn10.2%

Top 25 countries for travel insurance by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 83.0% of 2026 revenue and the 25 countries below together hold 95.6%.

Exhibit 4United States is the largest country market at USD 9.9 bn in 2026, and the three largest countries hold 51.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Travel Insurance market, ten largest countries in 2026Ten largest countries by 2026 revenue. United States: USD 9.9 bn, 34.0%; United Kingdom: USD 2.6 bn, 9.0%; Germany: USD 2.3 bn, 8.0%; China: USD 2.3 bn, 8.0%; Australia: USD 1.5 bn, 5.0%; France: USD 1.5 bn, 5.0%; Japan: USD 1.2 bn, 4.0%; Canada: USD 1.2 bn, 4.0%; India: USD 875 mn, 3.0%; Italy: USD 875 mn, 3.0%.United States9.9 bn 34.0%United Kingdom2.6 bn 9.0%Germany2.3 bn 8.0%China2.3 bn 8.0%Australia1.5 bn 5.0%France1.5 bn 5.0%Japan1.2 bn 4.0%Canada1.2 bn 4.0%India875 mn 3.0%Italy875 mn 3.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1United StatesUSD 9.9 bn34.0%USD 19.5 bn7.0%
2United KingdomUSD 2.6 bn9.0%USD 4.9 bn6.5%
3GermanyUSD 2.3 bn8.0%USD 4.6 bn7.0%
4ChinaUSD 2.3 bn8.0%USD 7.2 bn12.0%
5AustraliaUSD 1.5 bn5.0%USD 2.8 bn6.9%
6FranceUSD 1.5 bn5.0%USD 2.8 bn6.9%
7JapanUSD 1.2 bn4.0%USD 2.1 bn6.1%
8CanadaUSD 1.2 bn4.0%USD 2.3 bn7.0%
9IndiaUSD 875 mn3.0%USD 3.2 bn13.9%
10ItalyUSD 875 mn3.0%USD 1.7 bn7.1%
11NetherlandsUSD 633 mn2.2%USD 1.3 bn7.4%
12SpainUSD 531 mn1.8%USD 1.2 bn8.2%
13SwedenUSD 446 mn1.5%USD 908 mn7.4%
14SwitzerlandUSD 376 mn1.3%USD 766 mn7.4%
15BrazilUSD 315 mn1.1%USD 692 mn8.2%
16South KoreaUSD 265 mn0.9%USD 624 mn8.9%
17IrelandUSD 222 mn0.8%USD 488 mn8.2%
18BelgiumUSD 187 mn0.6%USD 383 mn7.5%
19NorwayUSD 157 mn0.5%USD 321 mn7.4%
20DenmarkUSD 131 mn0.5%USD 266 mn7.3%
21SingaporeUSD 111 mn0.4%USD 241 mn8.1%
22New ZealandUSD 93 mn0.3%USD 204 mn8.1%
23AustriaUSD 79 mn0.3%USD 161 mn7.4%
24MexicoUSD 67 mn0.2%USD 154 mn8.7%
25FinlandUSD 55 mn0.2%USD 111 mn7.2%
Rest of worldUSD 1.3 bn4.4%USD 2.8 bn8.0%
Exhibit 5United States and China account for 44% of the USD 32.6 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Travel Insurance market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 29.2 bn. United States: +USD 9.6 bn; China: +USD 4.9 bn; India: +USD 2.3 bn; United Kingdom: +USD 2.3 bn; Germany: +USD 2.2 bn; 20 other countries: +USD 9.8 bn; Rest of world: +USD 1.5 bn. Market value 2036: USD 61.8 bn.Market value 202629.2 bnUnited States+9.6 bnChina+4.9 bnIndia+2.3 bnUnited Kingdom+2.3 bnGermany+2.2 bn20 other countries+9.8 bnRest of world+1.5 bnMarket value 203661.8 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • Allianz Partners
  • Zurich Insurance
  • AIG Travel
  • Generali Global Assistance
  • Tokio Marine
  • Chubb
  • Mapfre
  • Sompo Holdings

Group 2: Regional and specialist players

  • Europ Assistance
  • Tata AIG
  • Berkshire Hathaway Travel Protection
  • AXA Partners
  • Cover-More
  • World Nomads
  • Hanse Merkur
  • ERGO Reiseversicherung
  • Bajaj Allianz
  • ZhongAn

Group 3: Emerging and niche players

  • Battleface
  • Faye
  • Seven Corners
  • Staysure
  • SafetyWing
  • Trawick International
  • Heymondo

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the travel insurance market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 7.8% is calculated from the resulting values.

The market is divided by cover, by channel, by trip scope, by age band, by cover level. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the travel insurance market?

The global travel insurance market is estimated at USD 27.0 bn in 2025 and USD 29.2 bn in 2026.

How fast will the travel insurance market grow?

It is forecast to reach USD 61.8 bn by 2036, a compound annual growth rate of 7.8% from 2026, an increase of USD 32.6 bn.

Which country is the largest market for travel insurance?

United States is the largest market by revenue at USD 9.9 bn in 2026, 34.0% of the global total. The three largest countries together hold 51.0%.

Which country is growing fastest?

Among the ten largest markets, India is growing fastest at 13.9% a year from 2026 to 2036.

Which travel insurance segment is largest?

In the by cover split, Single-trip policies is the largest segment with 54.0% of 2026 revenue.

Who are the leading travel insurance companies?

Global leaders include Allianz Partners, Zurich Insurance, AIG Travel, Generali Global Assistance.

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