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I’ve gone on a lot of trips, but it wasn’t until I spent five months traveling around Southeast Asia that I thought to get travel insurance. Since I was away for a long time (and was a tad worried about dengue fever), I decided to protect myself with a travel insurance plan.

As a newbie to the world of travel insurance, I first had to answer, what is travel insurance, anyway? In a nutshell, travel insurance will cover costs incurred while you’re in another country for injury, illness, trip cancellation, lost luggage, stolen belongings, car rental insurance, emergency evacuation, and more.

Some plans are super pricey, but the cheap travel insurance plans on the list below are the most reasonable ones I’ve found that still offer decent coverage. Plus, most of these companies offer different levels of plans, so you can choose between a basic or robust one to find the best travel insurance for you.

10 best cheap travel insurance plans for peace of mind

To compare prices and find the best travel insurance that won’t break the bank, I got a hypothetical quote for a one month trip to Bali. Note that your rate might be different depending on when you travel, what plan you select, your age, and your state of residence.

Here are the best cheap travel insurance plans I found, in order from least expensive to most.

1. Travel Insured International

Cost for one month in Bali: $26 for the Medical Protector Plan; $199 for the Worldwide Protector Plan; $328 for the Worldwide Trip Protector Plus

Travel Insured International gave the least expensive quote for my imaginary one-month trip to Bali with its Medical Protector Plan. This plan covers up to $50,000 in accident or sickness expenses, as well as up to $1,000 for baggage and personal effects and $5,000 for trip interruption.

If you’re looking for more comprehensive coverage, you could go with its “protector” plans, which cover up to $100,000 in medical expenses and have all sorts of protections related to itinerary changes or missed connections. They will even pay you back if you have to cancel your trip, though you must have an eligible reason.

2. Seven Corners

Cost for one month in Bali: Medical insurance plans cost between $27 and $55; More comprehensive plans cost $116 for Round Trip Economy and $176 for Round Trip Elite

Seven Corners offers a variety of travel insurance plans, whether you’re looking for just medical insurance or a comprehensive plan that covers everything from hospital bills to trip cancellation to lost belongings. Because of its diverse offerings, you can find a plan that matches your specific needs.

If you’re looking for a medical plan, you can choose among options that cover you for between $50,000 and $5,000,000. Its trip insurance plans also offer medical protection, but they’ll additionally cover other financial losses.

Some Seven Corners’ travel insurance plans reimburse you for 150% of the cost of your trip if it gets canceled or interrupted. So while having your trip canceled would be rough, the silver lining is that you’d get back even more than what you paid for it.

3. HTH Travel Insurance

Cost for one month in Bali: Medical insurance plans from $32.55 to $55.80

HTH Travel Insurance is another affordable option for travel insurance, and it has several options for medical insurance plans. You can choose what kind of coverage you need, whether that involves hospital care, surgery, office visit, prescriptions, or even medical evacuation.

Along with short- and long-term international health insurance plans, HTH also offers student health insurance, which is useful for international students or faculty coming to the U.S. or American students or faculty studying abroad.

4. IMG

Cost for one month in Bali: Medical insurance plans starting at $36.25

IMG provides medical insurance, international health insurance, and trip insurance at reasonable prices. Plus, its user-friendly website makes it easy to get a quote and compare plans.

IMG also designs different products for different types of travelers, whether you’re going on vacation, studying abroad, or moving to another country. Some other categories include business traveler, “social good” traveler, marine captain or crew, and government employee.

5. Arch RoamRight

Cost for one month in Bali: $37.82 for a travel medical plan; $165 for the Essential Plan; $184.00 for the Preferred Plan; $349 for the Elite Plan

Arch RoamRight offers inexpensive medical coverage, but its more robust plans seem to be a bit more expensive than some of the other full coverage options you’ll see on this list. Its medical plan will cover between $5,000 and $500,000 in emergency accident or sickness expenses.

Its other plans also cover medical issues, as well as a good deal more, such as trip cancellation, baggage delays, and missed connections. Whether or not you go with an Arch RoamRight plan, you might enjoy its blog, which shares bicycling touring destinations and other tips for travelers.

6. World Nomads

Cost for one month in Bali: $131.76 for the standard plan; $190.41 for the “Explorer Plan”

When I traveled to Thailand, I purchased a travel insurance plan through World Nomads. To be honest, I didn’t do much research into the best travel insurance; I just went with a friend’s recommendation.

Luckily, I didn’t have to use any of the coverage options I got through World Nomads, as nothing too bad happened on my trip (unless you count almost getting mauled by a monkey after I went hiking with bananas, of all snacks). But I appreciated having the protection, especially after meeting a traveler in Chiang Mai who had managed to contract dengue fever on multiple occasions.

World Nomads is especially good for adventure travelers, as its travel insurance covers over 150 activities, including scuba diving, snowboarding, and bungee jumping. It has a 24/7 emergency assistance team, and it lets you extend your plan at any time if you decide to lengthen your trip.

But as you can see, it doesn’t seem to offer basic medical plans, so the cost for a one-month trip could be over $100.

7. Allianz Global Assistance

Cost for one month in Bali: $151 for Basic Plan; $171 for Prime Plan; $231 for Premier Plan

Like World Nomads, Allianz Global Assistance doesn’t seem to offer basic medical plans, but instead has more comprehensive plans that cover medical expenses, trip cancellation, and other unexpected costs.

Besides single-trip plans, it also lets you purchase annual plans that will cover any trips you take over the course of a year. Plus, some options will cover costs associated with an existing medical condition, which is not always the case with cheap travel insurance plans.

8. AIG Travel Guard

Cost for one month in Bali: $164 for Silver Plan; $195 for Gold Plan; $318 for Platinum Plan

AIG Travel Guard makes it easy to compare options with a Silver, Gold, and Platinum plan. Along with all the usual coverage, AIG also offers 24/7 travel services, in case you need to change your hotel or flight last-minute.

You can purchase a policy online or by calling its travel center. Note that the latest you can purchase an AIG travel insurance plan is 24 hours before you depart on your trip.

9. John Hancock

Cost for one month in Bali: $178 for the Bronze Plan; $199 for the Silver Plan; $279 for the Gold Plan

John Hancock travel insurance plans cover between $50,000 and $250,000 in medical expenses, 100% of your trip cost in case of cancellation, and from 125% to 150% of your trip cost in the event of interruption.

You can also add an optional “cancel for any reason” option to any plan. Plus, you’ll have a 14-day window to cancel your trip insurance purchase if you change your mind.

10. Travelex

Cost for one month in Bali: $201 for the Select plan

Although Travelex Insurance Services was once acquired by the currency exchange of the same name, it’s now owned by an Australian group. Sticking with its original mission, Travelex provides travel insurance to vacationers and long-term travelers.

It offers two main plans, the Travel Basic and Travel Select, with the main difference being that the Select plan offers higher coverage and allows for more optional add-ons. For whatever reason, I was only able to get a quote for the Select plan for my “month in Bali.” But if a Basic plan is available to you, it should have a lower price than the Select one.

Find out if you have credit card travel insurance

Did you know you might already have some travel insurance? Some credit cards, especially travel rewards credit cards, offer protections while you travel. Some credit card travel insurance, for instance, covers car rentals, trip cancellations, and lost luggage.

That said, the coverage is often limited, and it’s rare for credit card companies to reimburse you for medical or healthcare costs. So while it’s a good idea to see what credit card travel insurance you already have, it might not be enough to protect you during your trip.

But the perks of your credit card travel insurance could complement whatever additional plan you get with a travel insurance provider. Instead of paying for a “platinum” plan, you might be fully covered between a medical travel insurance plan and the benefits that come built-in with your credit card.

Is travel insurance worth it?

If you’ve never purchased a travel insurance plan before, you might be wondering, is travel insurance worth it? The answer depends on a few factors, like how long you’ll be traveling for and what activities you’ll be doing.

If you’re traveling out of the country for a long time, for instance, it could be worth it to get a plan. But if you’re just going on vacation for a week or two, you probably don’t need to worry about it.

Besides the length of your trip, you might also think about where you’re going and what you’ll be doing there. If you’re doing lots of adventure activities, for instance, your chances of getting injured could increase.

And if you’re going to a country where you could contract a certain disease, run into life-threatening weather, or encounter political unrest, then getting a plan that covers medical treatment or emergency evacuation could be a smart move.

Trip insurance can also protect the money you spend on travel and accommodation. If you’re pouring a lot of money into a once-in-a-lifetime trip or luxurious honeymoon, a travel insurance plan could protect your investment in case your plans go awry.

Finally, getting cheap travel insurance could be worth it for the peace of mind it provides. The cost isn’t that much, and you might be able to sleep better at night knowing your finances are safe if something bad happens.

If you decide a travel insurance plan is worth it, shop around with a few different providers. That way, you can find the best travel insurance with the right coverage options — and right price — for your unique needs. Now if you’ll excuse me, I have a one-month trip in Bali to plan.