While finding the right travel insurance policy requires some upfront work when you're planning any kind of trip, an investment in this coverage can be worth its weight in gold. This is mainly because travel insurance pays for emergency medical expenses that occur if you become sick or injured on vacation, as well as for various incidental expenses that pop up when your flight is delayed or your luggage is lost when you arrive at your destination.
Without travel insurance, you could get stuck with financial losses and have to endure more hassle and stress than necessary. To help in your search for the right coverage, we have highlighted some of the best travel insurance companies based on their available plan types, policy limits and accessibility. If you're ready to buy travel insurance for your next vacation, read on to learn about our top picks.
Best travel insurance companies overview
| Plan types available | Medical coverage limits (maximum) | Trip cancellation coverage (maximum) | Plan costs for sample trip | |
|---|---|---|---|---|
Essential, Deluxe and Preferred plans; | Up to $100,000 with Deluxe plan | Up to 100% of total trip cost | Starting at $242.92 | |
Travel Basic, Travel Select and Travel America plans | Up to $50,000 with Travel Select and Travel America plans | Up to 100% of total trip cost (maximum of $750 to $50,000) | Starting at $156 | |
Trip Protection Basic, Trip Protection Choice | Up to $500,000 with Trip Protection Choice | Up to 100% of total trip cost | Starting at $214 | |
Standard plan, Preferred plan and Premium plan | Up to $500,000 with Premium plan | Up to 100% of total trip cost | Starting at $230.90 | |
Varies | Varies | Varies | Starting at $50 | |
Varies | Varies | Varies | Starting at $148 |
***Sample travel insurance premiums are based on a seven-night trip to Cancun, Mexico for two 35-year-olds in July of 2024 with a trip cost of $5,000.
Travel Guard
Pros:
- Choose coverage based on your needs
- Cancel for any reason coverage available
- Pre-existing conditions waiver available
- Add-on coverage options to customize your plan
- Annual and last-minute plans available
Cons:
- Maximum emergency medical coverage of $100,000 with this provider
- Essential plan includes only basic coverage
In addition to offering an annual travel insurance plan and a Pack N' Go Plan for last-minute trips, Travel Guard offers three main levels of coverage for various vacation types: a basic Essential Plan, a mid-tier Preferred plan and a more comprehensive Deluxe plan. These three plans offer various levels of coverage for trip cancellations and interruptions, emergency medical expenses, baggage delays and more.
The company's most popular Preferred plan automatically comes with trip cancellation coverage worth up to 100% of the prepaid trip cost, trip interruption insurance worth up to 150%, baggage coverage worth up to $1,000, coverage for baggage delays worth up to $300, emergency medical expense coverage worth up to $50,000 and up to $500,000 in protection for emergency medical evacuation, among other benefits.
Travel Guard's Preferred and Deluxe plans offer the option to add "cancel for any reason" coverage that lets travelers cancel their trip and get part of their prepaid expenses back for any reason at all. This provider also offers a pre-existing conditions medical exclusions waiver for people who purchase their travel insurance coverage within 15 days of making an initial trip deposit.
Travelex
Pros:
- Highly customizable plans
- Kid-included pricing
- "Cancel for any reason" upgrade available with Travel Select Plan
Cons:
- No annual plans available
- Coverage with Travel Basic plan is limited
Travelex is another top travel insurance provider that offers unique plans for different types of trips. Travelers can choose from a Travel Basic plan with minimal coverage included, a more robust Travel Select plan or a Travel America plan that's geared to people who are vacationing within the United States.
The Travel Select plan from Travelex is worth considering since it automatically includes trip cancellation coverage worth up to $50,000, trip interruption insurance worth up tp $75,000, $2,000 in coverage for trip delays, missed connection coverage worth $750, baggage and personal effects coverage worth up to $1,000, coverage for medical emergencies worth up to $50,000 and emergency evacuation coverage worth up to $500,000 (with an escort coverage limit of $25,000), among other benefits.
Travelex plans also stand out since pricing covers children on its plans automatically and since multiple add-on coverage options are available to customize a plan. Note that the Travel Select plan has the most flexibility since it comes with optional add-ons like car rental coverage, cancel for work coverage when purchased early, a pre-existing medical exclusions waiver, an adventure sports exclusion waiver and more.
Seven Corners
Pros:
- Generous limits for emergency medical expenses and evacuation coverage
- CFAR upgrade available
- Pre-existing conditions waiver available
- Broad range of plans to choose from
Cons:
- Highest tier coverage can be pricey
Seven Corners offers several types of travel insurance plans for various types of situations, including annual travel insurance coverage, medical-only travel insurance and medical coverage with emergency evacuation protection only. The company also offers a Trip Protection Basic plan and a Trip Protection Choice plan with comprehensive coverage that can protect most trips.
The Trip Protection Choice plan from Seven Corners offers some of the best travel protection out there thanks to its high coverage limits and included benefits. For example, this plan comes with up to $500,000 in coverage for emergency medical expenses, medical evacuation and repatriation coverage worth up to $1 million, trip cancellation coverage and interruption coverage that are both worth up to 100% of the total trip cost, trip delay coverage worth up to $2,000 and a pre-existing conditions waiver. Add-on coverages available with this plan include cancel for any reason (CFAR) coverage, interruption for any reason (IFAR) coverage and protection for event ticket registration fees.
Generali Global Assistance
Pros:
- Fully refundable after "free look" period
- Generous limits for emergency medical expenses
Cons:
- Fewer plan options to choose from
- Pre-existing medical conditions waiver only available with Premium plan
- Optional CFAR coverage only available with Premium plan
Generali Global Assistance keeps things simple by offering three main travel insurance plans that can apply to any trip: a fairly basic Standard plan, a Preferred plan and a Premium plan. These plans offer a minimum coverage amount of $50,000 for emergency medical expenses, which is higher than some other providers. Plus, all plans offer coverage for trip cancellations worth up to 100% of the prepaid trip cost.
The Preferred plan from Generali Global Assistance is the mid-tier coverage option that would work best for travelers who want more than minimum coverage. This plan includes trip cancellation coverage worth up to 100%, trip interruption coverage worth up to 150%, travel delay coverage worth up to $1,000 per person, baggage coverage worth up to $1,500 per person, sporting equipment coverage worth up to $1,500, medical and dental coverage worth up to $150,000 per person ($500 limit for emergency medical expenses), emergency evacuation coverage worth up to $500,000, and a lot more.
Squaremouth
Pros:
- Compare plans and costs from multiple companies at once
- Multiple coverage types available
Cons:
- Not an insurance provider
- Plans vary widely
- Research required before you buy a plan
Squaremouth is a travel insurance marketplace that lets users compare prices and plans among multiple travel insurance providers. This means that all kinds of plans and coverage options are offered on the platform, but it also means that Squaremouth does not provide the travel insurance coverage you buy.
Having the chance to shop around with several travel insurance companies in one place makes it easier to price shop and find the best deal. Note that Squaremouth offers plans from all kinds of top providers including Berkshire Hathaway, IMG, Tin Leg, AXA Assistance USA, Travelex and Seven Corners.
TravelInsurance.com
Pros:
- Compare multiple plans from top providers
- Tailor your coverage to your needs
Cons:
- Not an insurance provider
TravelInsurance.com is another online platform that lets users compare pricing and policies across multiple travel insurance providers at the same time. This platform offers coverage options through reputable companies like Travelex, Generali Global Assistance, Seven Corners and John Hanco*ck, and with various levels of coverage and benefits included.
The platform also makes investing in travel insurance fast and easy, and you can get coverage instantly by email after paying the required premiums for your chosen plan.
What does travel insurance cover?
Not all travel insurance plans are the same, and many policies have more protections than others. That said, the main coverages you can get with a travel insurance policy include the following:
- Trip cancellation coverage: This type of coverage reimburses prepaid travel expenses when a trip must be canceled due to a covered reason like the sudden illness of a traveler or a natural disaster that makes the vacation destination uninhabitable.
- Trip interruption coverage: This coverage reimburses for prepaid travel expenses when a trip must be interrupted after it's begun for a covered reason, such as someone becoming extremely ill while on vacation.
- Travel delay coverage: This protection can pay for hotel rooms, unplanned meals and other surprise expenses when a trip is delayed by a common carrier.
- Lost luggage reimbursem*nt: This type of insurance provides reimbursem*nt when bags are lost or stolen while in the care of a common carrier.
- Baggage delay coverage: This coverage pays for incidental expenses like toiletries and phone chargers when bags are delayed by a common carrier.
- Emergency medical expense protection: This important protection pays for surgery, hospital stays, visits to a local clinic or more when a traveler becomes sick or injured on a trip.
- Emergency evacuation coverage: This coverage can pay for emergency evacuation when someone is severely injured or becomes very ill during a trip, including transfers in a helicopter, an ambulance and more.
How do you get travel insurance?
Lining up travel insurance is easy since the top travel insurance providers offer free quotes and the ability to pay for coverage online. To make sure you have travel insurance in place for your upcoming getaway, all you have to do is visit a provider website or a comparison platform like Squaremouth or TravelInsurance.com and supply the following information:
- Age of travelers.
- Number of travelers.
- Travel destination.
- Total trip cost.
- State of residence.
- Travel dates.
- Date of initial trip deposit.
Once you provide these details about your traveling party and your itinerary, you'll be shown which plans are available for your trip and have the opportunity to compare them based on coverages included, policy limits, available add-ons and more.
How much does travel insurance cost?
The cost of travel insurance varies based on the age of travelers, how long the trip will last, the total trip cost and other factors. However, our internal analysis on the cost of travel insurance shows that average plan costs range from 4% to 11% of your trip based on trip cost alone.
This means that, for an average trip that costs $5,000 and lasts seven nights, travel insurance premiums could range from $200 all the way up to $550 depending on coverage included, available limits and benefits offered in the plan.
When should you get travel insurance?
You can purchase travel insurance any time up until a few days before you depart on your trip, yet you'll miss out on some optional benefits you may want if you wait that long. For example, plans that offer optional "cancel for any reason" coverage or a pre-existing conditions waiver typically require travelers to pay for their policy within a few weeks (usually 15 to 20 days) of making an initial trip deposit.
Shopping early for travel insurance can also give you time to compare plans and lock in the best price, whereas waiting ensures you are stuck paying for whatever coverage you can find. Our advice? Shop for travel insurance within days of booking airfare and other major trip plans to get the best price and access the most options overall.
Other ways to get travel insurance
While you can purchase travel insurance coverage from any of the top companies, you can also get some travel insurance protections through various travel credit cards. Just remember that travel insurance offered through cards can be limited in general, and that you have to pay for the trip with your card for this free coverage to apply.
Also note that credit cards with travel insurance tend to come up extremely short when it comes to offering emergency medical expense coverage. The majority of travel credit cards with travel insurance benefits do not offer this coverage at all, and ones that do offer insufficient protection. As an example, most experts would agree that the Chase Sapphire Reserve ® offers the best travel insurance coverage of any travel credit card on the market today, yet it only offers up to $2,500 in coverage for emergency medical expenses (subject to a $50 deductible) and a daily hospital benefit of $75 (for up to five days).
Methodology
We chose the best travel insurance companies based on the range of plans offered, coverage limits that apply and the add-on coverages available. We also looked for providers who offer plans with CFAR coverage as an option, as well as pre-existing condition waivers when requirements are met.
Companies that made our list of the best travel insurance companies all have very good or excellent ratings with A.M. Best based on financial strength. We also gave preference to companies that make it easy to get a travel insurance quote online and line up coverage from the comfort of home.
Frequently asked questions (FAQs)
Does travel insurance get more expensive closer to the trip?
Travel insurance may or may not get more expensive the longer you wait. However, shopping for coverage early gives you more time to compare policies and prices to find the best deal.
What is a good rate for travel insurance?
With the average travel insurance policy costing 4% to 11% of the total trip cost, policies that cost on the lower end of that range offer the most value. That said, lower cost travel insurance coverage tends to come with fewer included benefits and lower policy limits.
What does travel insurance not cover?
Travel insurance companies all have their share of fine print that dictates situations not be covered by a plan. While exclusions can vary, most travel insurance companies do not cover acts of war, losses caused by dangerous activities, medical expenses related to pre-existing conditions (when a waiver is not in place) and non-emergency medical care.
