10 Best Travel Insurance Providers – Getting travel insurance is a smart move if you plan to travel either internationally or domestically. Travel insurance can protect you from unexpected circumstances such as flight delays, trip cancellations, and medical emergencies.
Travel insurance is one of the most essential accessories for any traveler because it protects you financially. However, how do you decide which insurance company to purchase travel insurance from? This is why this blog post aims to provide the 10 best travel insurance providers. In addition, you will learn what travel insurance is, types, what it covers, and more.
What is Travel Insurance?
Travel insurance is the type of policy that reimburses you for the money that you might lose from non-refundable payments when something doesn’t go as planned on your trip. Common problems such as flight delays, lost baggage, and medical problems. This are very common during your trip, so it is important to have travel insurance. Furthermore, travel insurance is very important for cruises and international trips.
Types of Travel Insurance
There are different types of travel insurance plans available for you to choose from when you are shopping for a policy. The lists below are some of the coverage types:
Trip Interruption
This insurance plan covers any disruption in your trip after you depart. It also helps you to reimburse the total cost incurred for any cancellations, flight delays, and other disruptions that you might come across while you are traveling. Trip interruption can also cover the total cost for you to reimburse for unexpected expenses such as meals, an extra stay in a hotel, and transportation.
Trip Cancellation
Meanwhile, Trip cancellation covers the prepaid cost that you make for your trip if you cancel your flight for a covered reason. This type of coverage will help you recover the upfront cost of the flights and the non-refundable hotel reservations.
Trip Delay
This covers the unexpected cost when your trip is delayed. This is also another coverage plan that helps cancel the cost of flight disruptions.
Lost Baggage
This coverage plan is used for travelers whose luggage is stolen or lost, and it helps recover the value of the lost items in your bag. Ensure that you closely follow the accurate procedure for your insurance plan. Several plans include a total amount that you can claim under lost baggage and a per-item cap.
Cancel For Any Reason
Cancel For Any Reason enables you to recover some of the upfront cost that you have paid for a trip, even if you are canceling for any reason that is not covered by your travel insurance policy.
Travel medical insurance
This insurance plan covers any money spent out of your wallet for medical costs in case of an emergency. Most traveler’s health insurance doesn’t cover medical expenses abroad. This is why travel medical insurance will cancel the money spent out of your pocket for any medical cost.
Baggage Delay
Baggage delay covers the cost of important items that you will need when there is a delay in your luggage. Things such as clothing, toiletries, and other important items that you might need if your luggage is delayed are covered by the baggage delay. Most travel insurance plans that have baggage delay protection will state how long your luggage might be delayed before you make a claim.
The above-mentioned are the types of travel insurance plans that most insurers provide.
What Does Travel Insurance Cover?
Several travel insurance plans cover trip protections that can make you prepared for any unforeseen travel disruptions and other added expenses. This coverage aims to protect the money that you spend on your trip, other expenses that you incur due to travel troubles, and other costs that you might incur in case of a medical emergency.
Some insurance plans provide add-on options such as waivers for rental car collision damage waivers, pre-existing conditions, and adventure sport riders.
What’s Not Covered by Travel Insurance?
The usual travel insurance policy provides coverage for several unexpected events; however, as you do research to choose a plan, you need to consider your needs. Although every insurance plan differs, there are a few commonly excluded coverages. Most plans don’t also cover activities that are performed under the influence of alcohol, drugs, or any other extreme sports.
For several plans, there are a few situations that aren’t eligible reasons for you to cancel and file a claim and they include medical tourism, fear of travel, and pregnancies. In this case, you can add an add-on such as Cancel For Any Reason to your coverage plan.
10 Best Travel Insurance Providers
In this section of the article, we will outline the top 10 best travel insurance providers. Hence, If you are searching for an insurance company to buy travel insurance from, then you can check the list of insurers below:
Nationwide Travel Insurance
Nationwide provides specific coverage for cruises, and you can also select from the three levels of coverage for your next cruise trip. The cruise policy also provides coverage for ship-specific events, which include missed connections or mechanical breakdowns.
Each insurance plan also includes coverage for baggage delays, emergency accidents, missed connections, and trip cancellations. The covered cancellation reasons are very flexible, and they also include cancellations related to work.
Coverage Cost
The chart below shows Nationwide’s cruise travel insurance plans and coverage.
| Coverage Item | Universal Cruise | Chioce Cruise | Luxury Cruise |
| Trip cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip interruption | 125% of trip costs | 125% of trip costs | 150% of trip costs |
| Stolen or lost baggage | $1,500 | $2,500 | $2,500 |
| Baggage delay | $250 | $500 | $1,000 |
| Medical expenses | $75,000 | $100,000 | $150,000 |
| Emergency evacuation | $250,000 | $500,000 | $1 million |
Travelex
If you are looking for travel insurance on a budget, then you can consider a Travelex plan. Although Travelex’s policies are only available for trips that are up to 14 days in length, you can still get comprehensive coverage, which starts at only $60. Plus, children under the age of 17 are also included with an adult on specific travel insurance policies for no extra cost. This makes Travelex very affordable.
Furthermore, Travelex provides three policy options, which include the standard protections that you would expect to find on a typical travel insurance plan. While you will need to choose the Travelex higher-priced travel select plan before you can access perks such as free children’s coverage and license fee reimbursement, the basic travel plan suits any traveler’s budget. Furthermore, you can also share Travelex insurance policies among up to 10 travelers, which makes purchasing low-cost coverage very easy.
Coverage Cost
The table below shows the basic cost of Travelex insurance plans.
| Coverage Item | Travel Basic | Travel Select | Travel America |
| Trip cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip interruption | 100% of trip costs | 150% of trip costs | 150% of trip costs |
| Lost or stolen baggage | $500 | $1,000 | $250,000 |
| Baggage delay | $100 | $200 | $1,000 |
| Medical expenses | $15,000 | $50,000 | $50,000 |
| Emergency evacuation | $100,000 | $500,000 | $100,000 |
Faye
Faye supports insurance technology to help you get the best insurance policy quickly and also file a claim instantly. Faye also enables you to check policy options and then compare the quotes within seconds. It has a seamless online experience that has earned the company several positive reviews from customers.
Furthermore, Faye offers an all-online quote process with a few questions, claims, and enrollment filing processes. Through its mobile app, you can enroll in coverage and file claims. You can also be reimbursed for the approved claims in your mobile device’s Faye wallet. In addition, Faye also provides real-time alerts and 24/7 customer support.
Coverage Cost: The Faye travel insurance plan cost is $297.87.
Allianz Global Assistance
Among the 10 best travel insurance providers to make use of is Allianz Global Assistance. Allianz Global Assistance is one of the best insurers for business travel due to its AllTrips Executive plan. This insurance policy focuses mostly on business travel, and it also includes unique coverage for things such as rental car damage, business equipment rentals, stolen or lost commercial property, and many more.
Their insurance plan is perfect for people who travel frequently and carry expensive equipment. Furthermore, the AllTrips Executive plan also includes concierge coverage to provide customized assistance in finding travel itinerary changes.
Coverage costs and plans
The table below shows the coverage limits for the AllTrips Executive plan.
| Coverage Item | AllTrips Executive |
| Trip cancellation | $5,000 |
| Trip interruption | $5,000 |
| Lost or stolen baggage | $1,000 |
| Baggage delay | $1,000 |
| Medical expenses | $50,000 |
| Emergency evacuation | $250,000 |
Trawick International
When you are planning to stay long-term in the United States, you must have a health insurance plan. Luckily, Trawick International is best known for providing Collegiate Care Plans, which offer travel medical coverage to students who are studying in the United States. The medical coverage is available along with deductibles that are as low as $100, and it can be bought for a whole semester.
The Trawick standard travel insurance policies are available to United States residents, and the Collegiate Care plans are only limited to international residents. Trawick also provides international students and scholars with evacuation-only coverage.
Coverage Cost: Trawicks average travel insurance costs about $208.41.
International Medical Group
International Medical Group provides medical travel insurance plans along with higher benefits. It provides a multi-trip coverage plan that can provide you with long-term health insurance. International Medical Group also provides plans for both families and individuals, and the insurance policies include up to $8 million in yearly medical benefits.
Furthermore, the Global Medical Insurance plan enables you to select your deductible, along with options as low as $100 and as high as $25,000. In addition, International Medical Group provides travel insurance for single-trip plans.
Coverage Cost: International Medical Group average travel insurance costs about $300.73.
HTH Travel Insurance
HTH Travel Insurance provides multiple single- and multi-trip plan options, which include travel medical insurance policies. It is also very famous for its very easy group coverage option, and you can also add multiple group members to your insurance policy. You also have access to affordable group insurance at a discounted rate. The group insurance includes coverage such as medical and cancellation protection, trip interruptions, and others.
Coverage Cost: The price of the HTH Travel Insurance policy is $71.88.
AIG Travel Guard
An AIG travel insurance policy is ideal for families who want to protect several people while they are traveling. This insurance policy provides three travel plans that include a complimentary family, which means that one child under the age of 17 is added to every adult who is enrolled in the plan.
If you are traveling as an entire family, then this can cut your insurance expenses. The travel insurance policies include higher-than-average coverage limits on baggage delays, missed connections, and urgent evacuation expenses. This company also provides various unique upgrades that can be beneficial for family travel.
Coverage Cost: The price of an AIG Travel Insurance policy is $241.26.
USI Affinity Travel Insurance
This insurance company is ideal for people who are traveling abroad because it provides medical plans to cover them during their trips. People who travel frequently can also get a yearly medical plan that provides coverage for multiple trips of 30 days or less. There is also a trip cancellation policy.
Berkshire Hathaway Travel Protection
Finally, Berkshire Hathaway Travel Protection is part of our 10 top travel insurance providers. Berkshire Hathaway Travel Protection is perfect for people who plan a high-value vacation. The policies are also available with higher insurance limits. It covers up to $100,000 worth of non-refundable trip expenses like medical emergencies and unexpected cancellations. This plan also covers cancellations if the school calendar of your child changes.
Coverage Cost: The price of Berkshire Hathaway Travel Protection is $273.
How To Choose the Best Travel Insurance
When you are choosing your travel insurance policy, there are some things that you should take into consideration, and they include:
- Coverage limits: a travel insurance policy should include a 100% cancellation reimbursement for all non-refundable trip costs. It must also include a minimum of 125% coverage for trip interruptions.
- Cost: When you are looking at the cost, you should check more than your travel insurance premium.
- Approved Cancellations: Make sure that you know when you will be eligible for any reimbursement through your insurance policy before purchasing. If you want to make any cancellations in case of an unforeseen circumstance, you can search for an insurer that provides CFAR upgrades.
In addition, you might also want to review all the coverage that you already have before you start shopping for more.
Is Travel Insurance Worth it?
Yes, it is. Travel insurance protects against any unexpected events during your trip. There are several problems that you might encounter while traveling, and one way that you can protect yourself against them is by getting a travel insurance policy. Furthermore, a travel insurance policy recovers the cost of out-of-pocket expenses that you might encounter while traveling.