This article will look at eight of the best travel insurance companies in the market today. We’ll give you a brief summary of each company, explain the pros and cons, and offer a verdict. Remember, it’s always important to research before you sign on for a travel insurance plan. Make sure all of your questions are answered before you sign on the dotted line.
What Is Travel Insurance?
Travel insurance is a broad name for a selection of insurance policies that offer different kinds of protection for people while they travel. Some of the benefits are standards – like coverage for medical issues and trip cancelation insurance. However, some companies have special features and plans that help them stand apart from the competition. Understanding the different options is the key to finding the right policy for you.
Benefits of Travel Insurance
There are several benefits to travel insurance that you can take advantage of. The first, benefit people look for is trip cancellation insurance. This type of policy can save you a huge amount of money. Some companies offer a Cancel for Any Reason clause with their insurance. That means you’ll be reimbursed for any upfront expenses you paid for your trip, no matter why your trip is cancelled.
Travel insurance also provides a lot of the services you count on different insurance companies to offer you at home. For example, you can get medical insurance at different levels, rental car insurance, and more.
Travel insurance is also a necessity for people that are traveling to engage in extreme sports like snowboarding or surfing. It’s also vital for those who like naturally hazardous activities like rock climbing, caving, or scuba diving.
In these situations, it’s important to know that your medical needs are taken care of. Worrying about the cost should something go wrong will prevent you from getting the most out of your trip.
One of the most important features of travel insurance for these individuals is coverage for a medical evacuation. Many companies offer plans that provide as much as $1,000,000 to get you to safety should an accident put your life in danger when you’re far from home.
Lost and delayed luggage protection is another excellent feature of travel insurance. This option covers the cost to replace vital items in your luggage should it be lost or delayed. That means you’ll never have to worry about if you should buy new clothes or toiletries when your luggage doesn’t come in on time.
Picking a Travel Insurance Policy
The key to getting the best deal on a travel insurance policy is to only pay for what you need and not spend money on extra coverage. For example, if you’re going to be touring museums in Europe, then you’re not likely to need emergency evacuation coverage.
That’s why it’s important to talk to your travel insurance agent about what you plan to do on your trip. Make sure you’re honest about your intentions. After all, there’s nothing worse than paying for coverage and then getting a claim denied because your policy doesn’t cover your situation.
As a result, the best way to choose what travel insurance company is right for you is to make sure you have a solid understanding of what you need out of travel insurance coverage. Once you’ve got a list of policies that provide everything you need you should start sorting by other important elements.
For example, if the price of the policy is the second most important thing (after getting the right coverage, of course) then you can sort through policies by price to find the cheapest option that meets your needs.
Some people value extras and perks more than price. An example of this is if you take important and expensive prescription medications. In such a case you might choose a company that provides coverage for replacing lost or stolen medication instead of focusing on the price.
As you can see, it can be fairly easy to pick a travel insurance company. However, that doesn’t mean it’s a choice you should take lightly. Always check expert and consumer reviews and make sure you completely understand the requirements and restrictions on your policy so you can enjoy your trip knowing you’re protected.
OUR TOP PICK
1. Travelex Insurance Services
Travelex is a comprehensive travel insurance company that offers tremendous benefits for people looking for protection while they’re on the road. They make our list because of the awesome comprehensive and coverage options and upgrades you can get with their plan.
The first pro of Travelex travel insurance is for those with families. Kids under the age of 18 get coverage without any extra fees. That’s a huge money saver, freeing up more of your hard-earned-dollars to enjoy your travel instead of stressing about it.
Another great aspect of Travelex is that they have comprehensive coverage and great upgrades. The Travel Select Plan gives $50K for medical treatment. It also includes up to $500k for medical evacuation. Additionally, these plans cover losses due to a pre-existing medical condition. That’s not a feature you get with most travel insurance companies.
Travelex is also an incredibly stable company. They’re underwritten by Berkshire Hathaway, which has an A++ rating from A.M. Best. They pair this stability with great customer service. You can get 24/7 emergency assistance if anything goes wrong on your trip.
There are a few things that should give you pause about Travelex. First, the basic plan they offer is somewhat limited. Medical coverage is capped at $15K. It also has a lot of loopholes and exemptions from coverage.
Additionally, Travelex isn’t always the cheapest option. While Travelex can be the best deal in many cases, there are situations where you can get equivalent coverage for less money.
Travelex is a great choice for travel insurance for families and people who want to make sure they have the best coverage possible. It might be the best option for people looking for the best deal, but you should shop around first.
2. Allianz Travel
Allianz Travel is an excellent option for people that are going on long trips or those who need multi-trip coverage. You can get up to 6 months of coverage per policy though Allianz
The best reason to pick Allianz Travel is if you’re planning a trip for more than a few months. That means it’s a great option for students taking a semester abroad, people on extended business trips, and others that travel for extended periods of time. We especially like their OneTrip Premier Plan, as it covers minors under 18.
Allianz Travel also benefits from the fact that they offer multi-trip plans. That means you get continuous coverage for trips over the course of an entire year. This option is a bit more expensive, but it’s ideal for people like business executives that might have to take unexpected international trips. Also, the annual fee this plan requires is more than made up for by the time and effort saved not having to constantly obtain new travel insurance policies.
There are a few points to consider when you’re thinking about getting travel insurance from Allianz Travel. The first is that they don’t have the same range of add-ons that some of the other travel insurance providers offer. You don’t get the “cancel for any reason” option nor can you add coverage for extreme sports. That means you should look elsewhere if you’re planning on doing some skydiving or snowboarding on your trip.
Another downside is that the annual plans that Allianz offers do not include free coverage for kids. As a result, you’ll find yourself purchasing a separate policy for your child. However, you can still get free coverage for children on trips of six months or less.
Allianz Travel is the best option around if you are planning on a long trip, take frequent unexpected trips, or need multi-trip coverage. However, extreme sports fans should look elsewhere.
3. John Hancock
John Hancock is a great travel insurance provider for solo travelers. You get generous, comprehensive coverage and excellent customer service for a reasonable fee.
There are several benefits to using John Hancock for your travel insurance needs. The first is that you get extremely generous coverage options. Their standard coverage includes trip cancellation and 24/7 assistance. The trip delay and cancellation insurance even provides money for meals and other expenses – up to $150 per day.
You also get excellent medical coverage limits. Their cheapest policy, the bronze plan, offers $50k for medical expenses and $250k for a medical evacuation. You can get even higher limits by upgrading to the Silver or Gold options.
The customer service you get with John Hancock is another reason why they make our review list. Calls are answered promptly, customer service agents are polite, helpful, and to the point.
One of the major drawbacks of John Hancock’s travel insurance is that they don’t offer free coverage to minors. That’s one of the primary reasons why we say they’re a great option for solo travelers, although those traveling as a couple without children could also get a lot of value from the services.
The second drawback is that the policy doesn’t cover so-called “extreme” sports or activities like skydiving or rock climbing. If you’re a fan of thrilling activities, then you should check with quotes from other providers.
John Hancock is great option for those who are traveling by themselves or as an adult couple, but it isn’t the best option for families. It’s also not the best option if you’re looking forward to extreme sports activities.
IMG offers several travel insurance plans, and their plans can be customized so you get, and pay for, the exact amount of protection you think you need. This customizability makes them an excellent option for thrill-seeking travelers.
The biggest benefit of using IMG for travel insurance is the fact that you can customize your coverage based on what you plan to do and where you’re going. One plan, the iTravelInsured LX plan, offers coverage for adventurous activities like extreme sports. It also covers things like rock climbing and scuba diving. This coverage includes $10K for search and rescue services.
You also get extremely good medical coverage with IMG. Their medical limit is $500K. you can also get $1,000,000 for medical evacuation services, so you can be sure you can get to the care you need without breaking the bank.
Customer service is another strong factor for IMG’s inclusion on our list. They answer calls quickly and representatives were polite and helpful. We also like the fact that their website offers a Live Chat option.
While IMG is a great travel insurer in many regards, no one’s perfect. Our biggest issue is with the mandatory delays that IMG has when it comes to baggage delay reimbursements. You need to wait between 6 and 12 hours for your baggage to be considered delayed under the LX plan. The Lite plan requires a way of 24 hours.
This can be a huge problem depending on the way that your travel is structured. If you’re missing your baggage during a day-long stopover, then you’re out of luck. You may be responsible for your own costs and might have some issues getting your baggage to your final destination. All of this adds up to more hassle when you’re trying to enjoy your travel.
If you’re into extreme sports or naturally hazardous activities while you travel, then IMG could be the best option for you. However, make sure you’re ready to deal with their unique take on baggage delays before you sign on.
5. Seven Corners
Seven Corners is a great option if you’re looking for travel insurance that’s competitive with other companies in terms of price, but need some additional features on your policy.
Seven Corners offers $50,000 for cancellations. This includes their Cancel for Any Reason clause – which allows you to recoup up to $50,000 of up-front payment for your travel, no matter why you cancel your trip.
Another advantage is that Seven Corners will advance hospital fees, which is a different policy than most other insurance companies offer. Many companies only reimburse you once you’ve filed a claim. Getting the fee as an advance means more of your money can go to your trip without worrying about getting paid back later.
The customer service at Seven Corners isn’t quite as good as some of the other travel insurance companies we’ve reviewed. They have a habit of telling you that they’ll get back to you with an answer to your question and then failing to follow through.
Seven Corners is a good option for general travel insurance. However, it’s not the best option if you’re traveling somewhere volatile as it doesn’t cover non-medical emergency evacuations.
6. General Global Assistance
General Global Assistance, which used to operated as CSA Travel Protection, is a great all-around travel insurance provider. Their plans have lots of features and you can generally get coverage at a lower price than you’d pay at other companies.
The features that you get with General Global Assistance are the primary benefit of using them for travel insurance. One example is that the company can help you with an emergency cash advance of up to $500. The payouts on other services are also generally higher than you get with the competition.
Another benefit of General Global Assistance is that they have the “cancel for any reason” feature on their plans. That can save you a huge pile of money if something beyond your control causes you to cancel your trip.
General Global Assistance also provides decent medical benefits. It comes with limits higher than most other travel insurance companies and even covers things like lost or stolen medications. The company has a network of doctors world wide. Visiting one of these doctors mean your bills get paid upfront – no waiting around for reimbursements.
The biggest downside of General Global Assistance is the fact that you may wind up paying some costs upfront. This is most likely to happen if you can’t get to one of the doctors in their network of coverage. You’ll still be paid back for these costs, but they can put a significant damper on your trip, as reimbursement isn’t likely to come in before you finish.
Additionally, there are more requirements for filing a claim with General Global Assistance than with some of the other travel insurance options. The requirements are clearly stated in the contract, but that doesn’t mean they can’t become a hassle.
General Global Assistance is a great choice for most ordinary travelers. However, if you’re worried about paying costs upfront and needing to wait for reimbursement, then you might want to look for another company.
7. Travel Safe
Travel Safe Insurance is an excellent all-around travel insurance option with good coverage and a reasonable price. In fact, you can usually get coverage from Travel Safe cheaper than you could get at a competitive agency for similar coverage limits.
The biggest benefit of Travel Safe is their price point. They offer four different plans: Medical Only, Vacation, Explorer, and Vacation. That means you can get a plan that matches your needs and won’t be paying for coverage you don’t need. After all, if you’re planning on staying in cities during your trip, then there’s no reason you’d want medical evacuation coverage.
Another benefit of Travel Safe is that they allow online claim filing. That means you can quickly and easily amend your claim or submit the necessary paperwork without having to wait for or worry about traditional mail.
One problem with travel safe is that they don’t offer change fees for flights. That means you could get hit with a huge unexpected expense. However, this isn’t a big deal depending on the airline you’re using.
Another drawback is that Travel Safe doesn’t offer a Cancel for Any Reason option, so if your trip is cancelled for a reason that doesn’t qualify for reimbursement, then you’ll be paying for a policy and protection you don’t need.
Travel Safe is a solid choice for most travelers. However, if you have specialty needs or volatile travel plans that can change any time, then you might want to explore other options.
8. USI Affinity
USI Affinity offers three levels of coverage so you can tailor your protection to your needs. The coverage is comparable to other insurance companies, and USI offers some excellent perks that you don’t find standard.
One of the things we like the most about USI is the fact that they’ll reimburse you for lost or stolen prescriptions. Everyone knows how expensive prescription drugs can be, and how vital they are to those that take them. As a result, this feature allows you to have peace of mind on your travels knowing that your prescriptions are covered.
USI Affinity also benefits from the fact that they include Cancel for Any Reason in their coverage options. This will provide you with 75% of the costs you’ve put down for the trip should it be cancelled. It even reimburses you for lost miles or reward points, up to a value of $250.
The biggest drawback of USI Affinity is the fact that they don’t have any online claim processing. That means you’ll have to wait for traditional snail mail to handle any claims. It also means that you’ll be worrying about the forms and evidence getting to them or you’ll have to pay more for certified mail.
Additionally, if you want to cancel the insurance policy, then you need to do so at least 14 days before travel starts. This is a longer requirement than many other travel insurance companies, which only require 10 days of notice.
USI Affinity is a good option for basic travel protection and medical emergencies on your trip. It’s an excellent option if you require expensive prescription medications. However, the lack of online filing is a pretty big downside for us.
Travel insurance need not be complicated. In fact, it might just be the thing that you need to keep your trips relatively hassle-free and enjoyable. Know the basics below so you’ll be well-informed for your next adventure.
Travel Insurance Basics
Learn what travel insurance is and other details so you can better assess if you're going to get it for your next trip or not.
What is travel insurance?
There are many definitions but for all intents and purposes, a travel insurance is a plan that allows you to mitigate risks associated with travelling such as trip cancellations or medical emergencies.
What is the purpose of travel insurance?
Similar to a regular life insurance, it is meant to minimize or eliminate significant financial risk arising from various things that can happen as a result of travelling.
What does travel insurance cover?
Travel insurance coverage differs from one provider to another. But there are two general areas of coverage: travel-related incidents and medical emergencies.
How does travel insurance work?
It works just like a normal insurance plan. Once you file a claim after say a cancelled flight, you'd be reimbursed a certain amount should your claim be approved by the insurance provider.
Do I need travel insurance?
This depends on several trip factors such as distance, timing, importance, and many others. If the probable financial loss is monumental in case something unfortunate happens during the trip, then it's generally a good idea to get travel insurance.
Should I get travel insurance for domestic flights?
Generally, domestic flights do not necessitate getting a travel insurance because usually, the potential financial loss is not too great compared to an international flight.
What is the best rated travel insurance?
Determining the best rated travel insurance or travel insurance provider is an almost impossible task. That being said, it's generally a good idea to go with the biggest providers like Allianz Global, IMG, Travelex, and John Hancock due to their track records.
Is Travelers insurance good?
Yes, it is. Travelers is an insurance provider that has been around for more than 160 years, so you can rest easy when it comes to their track record and ability to fulfill claims. They handle all types of insurance inquiries and you can even get an online home insurance quote.
Does Chase sapphire card have travel insurance?
Yes, it does. When you use your Chase sapphire card to book for your trip, you automatically get travel coverage. There are many benefits, but you could get reimbursement for trip cancellation, lost luggage, trip delays, and others.
Is Roamright a good travel insurance provider?
Yes, it is. It is actually among the top travel insurance providers in the United States. They also have a rather extensive selection of plans and coverage for different pricing tiers.
Do you need travel insurance for Mexico?
Just as with other locations that are outside United States, it's generally a good idea to get travel insurance when going to Mexico, even though it is nearer to the US than other countries.
Is it mandatory to have travel insurance when going to the USA?
No, travel insurance is never mandatory as it require additional expense on the part of the client. However, most credit card companies already offer travel insurance as part of their service when you book your travels using their credit card.
Is asthma a pre-existing condition for travel insurance?
Yes, it is. It is almost universally considered a pre-existing condition, and thus, it is harder to find a travel insurance that covers the condition. There are new services though that cover asthma despite this.
Is AXA travel insurance good?
AXA is another one of the big players in the travel insurance industry and offers some of the best coverage including persona accident insurance. Its plans also offer high insurance coverage for factors such as baggage loss.
What is single article limit travel insurance?
This is the maximum amount that an insurer is going to shoulder for a single item in case of loss or damage. So, if you lose an item that is beyond that, you will get less than the value of the item.
What is travel cancellation insurance?
This is a part of your travel insurance that deals with trip cancellations. The insurer will reimburse prepaid expenses for a trip such as plane tickets provided your reason for doing so falls within the scope of the plan.
Do you need special travel insurance when pregnant?
Some insurers already include pregnancy in their travel insurance, some don't. In the event that your provider doesn't you'd need a special pregnancy travel insurance to give you peace of mind case of medical emergencies related to pregnancy.
Do travel insurance companies check medical records?
Yes, they do. This is usually to verify claims pertaining to medical conditions. Insurers don't have the inherent right to see your medical records, that's why they often ask for waivers to allow them to.
Does Chase Freedom Unlimited have travel insurance?
No, the Unlimited credit card of Chase Freedom does not offer a complete travel insurance, although it does offer an auto rental collision damage waiver for travelers.
Can I cancel a travel insurance policy?
Yes, you can, but only if you haven't started your trip yet. Once you have started your trip, you cannot reimburse anymore what you paid for your travel insurance.
How do travel insurance claims work?
Travel insurance claims works just like now most insurance plans work. The client files an insurance claim that must be related to his or her travels, and if it's approved by the insurer, he or she gets a reimbursement amount in accordance to the insurance terms.
Getting a Travel Insurance
While it can be daunting at first, getting a travel insurance is an easy process – if you know some of the information we have provided below.
Is travel insurance worth it?
Depends, but for frequent travelers and does who are travelling abroad, it generally is. There's always risk involved in travelling and having peace of mind that aspects of it are covered is liberating.
How much is travel insurance?
This depends on how much you want to be covered for, the type of travel insurance plan, and the insurer. You can opt for higher coverage, but this usually entails higher purchase cost as well.
Should I buy travel insurance?
If you're travelling to a far location, carrying with you a valuable item, or travelling for the first time, then it most probably is best for you to purchase a travel insurance to minimize the risks.
How much is travel trailer insurance?
On the average, travel trailer insurance usually costs somewhere between $250 to $500 per year depending on which company you choose to get your insurance and their corresponding terms.
How to buy travel insurance?
Nowadays, you don't have to look for an agent first before you can get a travel insurance. You can go directly to websites of providers and apply online, although you'd typically need to meet their representatives, so you'd know better the terms of the plan.
Why is Travelers insurance so cheap?
Travelers offer affordable insurance packages for its clients, although how affordable usually depends on the term and the location of the client. But usually, their prices become cheaper due to numerous discounts.
Where to buy travel insurance?
Just login and search online and you'll find countless providers, both in your particular area and nationally. Some even offer a fully online application process so you won't have to leave your home.
What credit cards have travel insurance?
A lot. In fact, most credit cards already include a travel insurance as part of their services. You'd have to check your own credit card if it has one, but most of the big names (Chase, Citi, American Express, etc.) have card versions with included travel insurance.
When to buy travel insurance?
If you're planning a long trip, will be away for a considerable amount of time, or travelling during special conditions, then it's best to consider getting a travel insurance so you'll have better financial security.
Can you claim travel insurance on your income tax?
Generally, no. This is because travel insurance covers trips or activities that are almost always personal and private in nature, so you won't be able to deduct in from your income tax.
Do I have travel insurance with my American Express card?
Depends on the exact type of American Express card you have, almost all its cards do have travel insurance. This includes the popular ones like the Platinum card, the Gold card, and the Amex EveryDay card.
Travel Insurance Coverage
Knowing what your travel insurance covers is critical to maximizing its use and avoiding possible financial loss. Know some of the basic coverage terms below.
Does travel insurance cover death of parent?
Yes, but not directly to the deceased. For example, if you interrupt or cancelled a trip because your parent died and they are indicated in your insurance plan, then you'll get reimbursement for unused but paid trip expenses.
Can I get travel insurance with a pacemaker?
Yes, you can. There are specialist travel insurances for people with specific medical conditions such as having pacemakers. You do have to declare your condition at the onset.
What does travel insurance not cover?
There are many conditions that can invalidate a travel insurance claim, but some of the most common are non-declaration of medical condition, negligence of the client, engaging in reckless activities, and playing high-risk sports. Learn more about all risk medical travel insurance.
Does insurance cover travel vaccines?
There are new laws that now require new insurance companies to cover immunization and vaccines in their travel insurance plans. Some older companies, however, still do not cover vaccines.
Does travel insurance cover medical expenses?
Yes. It is actually a big part of what travel insurance packages provide. However, there are specific illnesses and pre-existing conditions that are not covered by insurance, and they must be all accurately declared beforehand. So if your individual or family health insurance plans don't cover you while traveling then you need to do your due diligence with travel health insurance.
Does travel insurance cover rental car damage?
Most travel insurance plans do cover rental car damages, although most packages only cover the cost of collision, and do not include other losses such as loss of personal items. It also excludes rental of trucks or motorcycles.
Does travel insurance cover theft?
Yes, it does. It is part of the insurance package that clients get reimbursed in the event that their belongings get stolen during a trip. There are, however, limitations and specific terms when it comes to items covered which differ by provider. You will probably want some identity theft coverage like Lifelock in place as well as insurance. There are plenty of Lifelock alternatives you can compare as well.
Are natural disasters covered by travel insurance?
Yes and no. Natural disasters that cannot be accurately predicted like earthquakes and tsunamis are covered by some packages, but those that can be predicted like storms are usually not covered.
Does Allianz travel insurance cover flight cancellations?
Yes, it does. Flight cancellations are a very common circumstance that can usually have big financial implications. So, for as long as the reason is valid and is accepted by the insurer, then you can reimburse your expenses.
Does Discover cover travel insurance?
Unfortunately, no. Discover removed all insurance plans related to travel as add-ons to their credit cards in 2018. This is because of, according to Discover, consistent low usage of the service.
Does European travel insurance cover Russia?
Depends on the location in Russia you are going to. Generally, European travel insurance is good for most tourist areas in Russia, but if you're heading to more remote locations like the Ural Mountains, you'd need a worldwide travel insurance.
Does travel insurance cover accommodation cancellation?
Yes, it does, provided it falls within the reasons listed in the terms of the insurance plan. Travel insurance can cover the cost of the accommodation cancellation for things like a medical emergency, political unrest, and others.
Does travel insurance cover airline strikes?
In most cases, yes it does, although it will still depend on the insurance terms and the provider. But if the strike has been ongoing for a time before your trip, then you'll probably be not eligible for insurance claims.
Does travel insurance cover expired passport?
No, it does not. A renewal of a passport falls entirely on the client and cannot be classified as an unforeseen event. Therefore, any expenses arising from an expired passport won't be covered by travel insurance.
Does travel insurance cover flu?
Generally, yes especially for quick onset and unforeseeable medical conditions such as the flu. However, it is still best to verify the terms of your insurance plan to be sure, as there can be lots of exclusions when it comes to medical conditions.
Does travel insurance cover lost items?
Yes, it does, provided that the loss of the item isn't caused by negligence on the part of the client. But incidents like theft or airline issues are covered in large part by travel insurance.
Does travel insurance cover pre-existing conditions?
No. the idea of a travel insurance is security for things that might happen during a trip, or at least a few days or weeks before, not a condition that was well-known well before a trip.
Does travel insurance cover pregnancy-related issues?
A lot do, but not all. There are standard travel insurance plans that already cover pregnancy in their terms, but you'd have to find specialty travel insurance for pregnancy if yours don’t.