Travel Insurance Prices Drop 21% in Israel, Yet 40% Price Gaps Persist Among Providers

Travel insurance prices for trips abroad in Israel have decreased by about 21% on average over the past year, according to Wobi, an insurance comparison and purchase platform. However, despite the overall price drop, consumers still face significant price disparities of up to 40% for similar coverage between different insurance companies. This gap can translate into hundreds of shekels in extra costs, especially for long family trips or expensive destinations.

The main driver behind the price reduction is the roughly 16% decline in the US dollar exchange rate over the last year, as many travel insurance costs are priced in dollars. Wobi's research shows that if a destination's insurance price fell less than 16%, it effectively became more expensive in dollar terms. Regionally, South America saw the largest price drop of about 33%, followed by Europe with a 22% decrease. Asia experienced only a modest 7% decline, which means prices there actually rose when measured in dollars.

The downward trend in travel insurance prices has continued into early 2026, with an 18.5% average reduction across all destinations since the start of the year. South America and Africa recorded the steepest declines at 39% and 33%, respectively, while Europe and Asia saw smaller decreases of 18.7% and 11%.

Wobi emphasizes that despite falling prices, consumers should carefully compare insurance offers because price differences remain substantial. Factors influencing costs include the travel destination, insured person's age, trip duration, medical conditions, coverage limits, and optional add-ons like baggage, adventure sports, or trip cancellation coverage. Nadav Shreibman, Wobi's head of research and analysis, advises travelers to focus on comparing companies rather than just average price trends, noting that "on the exact same coverage, we see gaps up to 40%, which can amount to hundreds of shekels on a family trip abroad."