Aralık 6, 2021

INSURANCE BOAT

Convenience and Security at Your Fingertips

Best Travel Insurance Companies

If you’re spending hundreds or thousands of dollars to book a trip, it may be wise to get travel insurance. Travel insurance protects the money you spend on travel should you have to cancel or cut your trip short for many reasons, including weather, illness, government cuts, and more. Many policies also provide benefits for lost baggage or medical services received while abroad.

We’ve reviewed over 20 different insurance companies and compiled them for you, as there are so many things to consider when taking out travel insurance coverage. We evaluated their cost, exclusions, limits and customer ratings. Read on to see which travel insurance best fits your needs.

You can visit here to review more companies or businesses.

Best Overall: (Travelex)

✅ Pros

  • Competitive pricing for comprehensive coverage
  • Multiple plan options with customizable features
  • Children 21 and under covered at no extra cost

❎ Cons

  • Mixed pre-existing condition coverage depending on the policy purchase date
  • No annual plan available
  • Basic coverage plan features minimal coverage

Travelex Insurance Services is a well-known travel insurance provider headquartered in Omaha, Nebraska. Established in 1996, Travelex offers different insurance packages depending on the coverage required for your trip. The policies are signed by Berkshire Hathaway Specialty Insurance, rated A++ from AM Best and AA+ from Standard & Poor’s. Coverage available to customers worldwide.

The Travel Choice plan starts at $28 and includes cancellation of your trip, travel interruption, as well as emergency medical attention and evacuation, but there are other ways to customize and upgrade coverage.

Up to 100% of $25,000 is covered for travel cancellations. You can receive up to $37,500 for travel deductions, up to 150% of the cost of travel. Emergency medical limits are $50,000 and emergency evacuation coverage is good up to $500,000.

Runner-Up, Best Overall: (Allianz Travel Insurance)

✅ Pros

  • Annual- or single-trip plans available
  • Many policy types fit varying needs
  • Cover yourself and your household all year even if you’re not traveling together

❎ Cons

  • Does not cover extended travel periods
  • Some annual plans have per-trip limits while others have annual limits
  • Not the highest limit around for emergency medical transportation coverage ($250,000)

Allianz Travel has been a subsidiary of Allianz in Germany since 1890. Travel policies are signed by insurers with AM Best ratings from A to A+ and can only be used by lawful residents of the United States.

Travelers looking to take off more than once a year should consider annual travel insurance rather than per-trip individual policies. Allianz Travel offers four different annual plans with different benefit levels. We especially like AllTrips Executive, which has the highest limits and coverage.

AllTrips Executive provides incremental limits for trip cancellation or deduction coverage starting at $5,000. They also offer $50,000 per insured per trip and $250,000 for emergency transportation. There is a long list of exceptions, including extreme sports, so be sure to read through before jumping into adventure activities.

Best Value: (InsureMyTrip)

✅ Pros

  • Search for quotes from multiple reputable insurers
  • Shop around with one application for multiple trip types
  • View multiple plans from eligible insurers for your planned trip

❎ Cons

  • Many popular insurers not included in listings
  • Initial listing pages don’t show policy limits
  • Includes some policies with low coverage limits

Founded in 2000, InsureMyTrip is a travel insurance comparison site that searches over 20 insurers using a single login form. It offers an easy-to-use registration and comparison tool to quickly compare multiple policies based on your specific needs. Filters are available to select policies that cover adventure sports, higher limits, increased medical coverage, and more.

A proposal for a family of four to go on a 14-day trip that included airfare and hotel costs resulted in three proposals for plans ranging from around $100 to $400 for different levels of protection. Key features included baggage coverage, travel delay and medical care. Note that prices will vary based on where customers come from and vacation, and other variables.

The insurers you will find using InsureMyTrip have earned various industry ratings and are generally considered reputable and financially stable. However, as with policies purchased directly from insurance companies, it’s a good idea to read the policy information before clicking the buy button. Each major insurer has different claim processes, exclusions and limits. But InsureMyTrip makes it easy to be an informed travel insurance buyer.

Most Comprehensive Coverage: (World Nomads)

✅ Pros

  • Extensive coverage with high limits for medical and emergency evacuation
  • Protects your bags, computers, and sports equipment when traveling
  • Explorer plan covers adventure sports

❎ Cons

  • Only single-trip plans available
  • Most pre-existing conditions are not covered
  • Not all policies cover adventure sports

World Nomads is a good insurance company for adventure seekers. The Australia-based provider is a solid choice for worldwide travel with few excluded activities. Policies are signed by various insurance companies, including the financially strong and well-known Nationwide Mutual Insurance Company, Generali Global, AIG and Lloyd’s.

Coverage includes terrorist attacks, assault, medical returns, equipment and baggage, and overseas medical and dental. The Ultimate Explorer Plan covers activities such as snow sports, water sports, aviation, motorsports, athletics and high adventure experiences. More than 200 activities have been named and many have been specifically excluded by other insurance companies.

For the Explorer Plan, a lone 35-year-old would pay around $200 for a month in Thailand depending on inputs such as age and state of origin, and that’s not a lot for such comprehensive coverage. The lower coverage Standard Plan costs around $100 for the same trip, but if you’re worried something is wrong, it makes sense to choose higher coverage levels.

Best for Seniors: (HTH Travel Insurance)

✅ Pros

  • High levels of medical coverage for seniors up to 95 years old
  • Up to $1,500 allowance for someone to visit you in the hospital

❎ Cons

  • Not the cheapest provider depending on your needs
  • Best plan for seniors requires existing health insurance
  • Lowest policy has a $50,000 maximum benefit per person

HTH Worldwide was founded in 1997. HTH Travel Insurance offers plans with high levels of medical coverage. That’s a big concern for seniors leaving the country, as they could end up in a doctor’s office or hospital with an expensive bill to follow. HTH Travel Insurance offers up to $1 million in total coverage for medical.

For passengers with current primary insurance, policies benefit from 100% coverage for typical hospital charges, including surgery, tests, office visits, inpatient hospital stays, and non-US prescription drugs, among other coverages.

Medical evacuation of up to $500,000 is possible, but travel disruption and baggage coverage is fairly light. A lot of people will choose this plan for medical benefits, not travel. This policy applies to applicants aged 95 or younger.

Best for Cruises: (Nationwide)

✅ Pros

  • Large insurer with a strong reputation
  • Three different cruise insurance plans to choose from
  • Coverage for common cruise issues like missed connections and itinerary changes

❎ Cons

  • Some plans have low coverage levels for some incidents
  • Benefit limits are low for trip interruption for any reason
  • Pre-existing conditions may not be covered

Nationwide has been offering the most popular types of insurance since 1925, including auto, home and life. In addition, they have many travel insurance coverages for individual trips, multiple trips and cruises.

To protect your single trips, Nationwide offers trip cancellations up to $10,000 on the Basic Plan and $30,000 on the Prime Plan. Travelers can also get an annual travel insurance package for just $59 per year to cover delays, medical expenses, medical evacuation, lost luggage and travel assistance.

Best for Medical Coverage: (GeoBlue)

✅ Pros

  • Coverage for medical needs when traveling
  • Gives à la carte medical coverage when other trip costs are already covered
  • Different policies allow you to cover various needs and pre-existing conditions

❎ Cons

  • Primarily covers medical costs
  • Additional primary medical coverage required
  • No adventure sports coverage

GeoBlue is part of Worldwide Insurance Services and policies come with a license from the Blue Cross Blue Shield Association. The policies are regulated by 4 Ever Life International Limited, a company with 70 years of history and an A rating (Excellent) from AM Best.

If you only need coverage for medical needs, GeoBlue is a good choice. This insurance company only offers travel health insurance. Paying for health insurance also means you don’t pay for the rest of your travel insurance that may have been covered. If you have a credit card ostensibly including travel insurance, for example, lost luggage and missed flights are likely protected by the terms of your card. Instead, you only insure for medical care, and these costs are as low as a few dollars a day.