Best Travel Insurance 2023

If you are spending hundreds or thousands of dollars on a trip, it may be worthwhile to purchase travel insurance. Travel insurance protects you if you have to cancel or shorten your trip due to a variety of factors such as weather, illness, government shutdowns, and more. Many policies also cover lost luggage or medical services received while traveling.

The best travel insurance policies are reasonably priced while still providing comprehensive coverage with few exclusions or limits and a high level of customer satisfaction. Our list of the best travel insurance companies can help you find the right provider for you, but you should also do your homework to ensure that the policy covers your specific trip.

Best Travel Insurance Companies of 2023

Travelex Insurance Services

Travelex provides comprehensive coverage (up to 150% for interruptions) for you or your family at an affordable price—and kids are included at no additional cost. It was our top pick because of the low price for the high levels of coverage. For the best coverage, look for the Travel Select plan.

Overview

Travelex Insurance Services, based in Omaha, Nebraska, is a well-known travel insurance provider. Travelex (not to be confused with foreign currency exchange shops) was founded in 1996 and offers several insurance packages depending on the coverage you require for your trip. Berkshire Hathaway Specialty Insurance Company, which has an A++ rating from AM Best and an AA+ rating from Standard & Poor's, underwrites the policies. Customers can get coverage anywhere in the world.

The Travel Select plan, which starts around $36 and includes trip cancellation, trip interruption, and emergency medical and evacuation coverage, but there are several ways to customize and upgrade coverage.

Cancellations are covered up to a maximum of $50,000. For trip interruptions, you can receive up to 150% of the trip cost up to $75,000 in compensation. The emergency medical limits are $50,000, and the emergency evacuation coverage is $500,000.

Furthermore, Travel Select provides a 15-day pre-existing condition exclusion waiver. Your pre-existing injury or illness is likely to be covered if you purchase your policy within 15 days of paying for your trip and insure the full cost of the trip.

Allianz Travel Insurance

Allianz takes second place due to its extensive coverage for frequent travelers at a low cost per trip. The AllTrips Executive Plan provides the most comprehensive coverage. Individual trip coverage is also offered.

Overview

Allianz Travel is a subsidiary of Allianz, which was founded in 1890 in Germany. Travel policies are underwritten by insurers with AM Best ratings ranging from A to A+ and are only available to legal residents of the United States.

Travelers who plan to travel frequently throughout the year should consider annual travel insurance rather than individual per-trip policies. Allianz Travel provides four annual plans with varying benefit levels. Its AllTrips Executive Plan, which has the highest limits and coverage, is our favorite.

For trip cancellation or interruption coverage, the AllTrips Executive Plan offers tiered limits beginning at $5,000. It also provides $50,000 in emergency medical coverage and $250,000 in emergency transportation coverage per insured per trip. There is a long list of exclusions, including extreme sports, so read the fine print before embarking on an adventure.

The price point for a single traveler, a couple, and a family of four was $500 per traveler per year. If you pay $120 per person per trip for comprehensive coverage and travel at least five times per year, you will break even with this plan. If you want to save money, Allianz also offers the AllTrips Basic, Premier, and Prime plans.

InsureMyTrip

Compare policies from over 20 different travel insurance providers using a single form to ensure you're getting a good deal on the coverage you require. You can find low-cost trip coverage or tailor a plan to your specific needs to avoid overpaying for coverage you won't use.

Overview

InsureMyTrip, founded in 2000, is a travel insurance comparison website that searches from more than 20 insurers using a single intake form. It provides a simple sign-up tool for quickly comparing multiple policies based on your specific needs. There are filters available to select policies that cover adventure sports, higher limits, increased medical coverage, and other features.

A quote for a family of four taking a $4,000 14-day trip that includes plane and hotel expenses yielded three suggested plans with costs ranging from $100 to $400 for varying levels of protection. Luggage coverage, travel delay, and medical care were among the basic features. Rates will vary depending on where customers are coming from and where they are going on vacation, among other factors.

InsureMyTrip's insurers have earned a variety of industry ratings and are generally regarded as reputable and financially stable. Still, as with policies purchased directly from insurers, read the policy details before clicking the buy button. Each underlying insurer's claims processes, exclusions, and limits are unique. However, InsureMyTrip makes it easier to make an informed travel insurance purchase.

World Nomads

This plan provides extensive coverage (up to $100,000 for accidents) for some of the most extreme adventures, making it ideal for adventure travelers and digital nomads.

Overview

World Nomads is an excellent insurer for those seeking adventure. With few excluded activities, the Australia-based provider is a solid choice for global travel. Various insurers underwrite policies, including the financially strong and well-known Nationwide Mutual Insurance Company, Generali Global, AIG, and Lloyd's.

Terrorist attacks, assault, medical repatriation, equipment and baggage, and overseas medical and dental are all covered. Snow sports, water sports, aviation, motorsports, athletics, and high-adventure experiences are all included in the Explorer Plan. It lists over 200 activities, many of which are expressly prohibited by other insurers.

For the Explorer Plan, a solo 35-year-old would pay around $200 for a month in Thailand, depending on factors such as state of origin, which is reasonable for such comprehensive coverage. The Standard Plan costs around $100 for the same trip, but if you're concerned about something going wrong, it makes sense to choose higher coverage levels.

This policy is underwritten in the United States by Nationwide (rated A+ by AM Best), and it includes a $100,000 limit for emergency accidents and illnesses, a $500,000 limit for emergency evacuation, a $10,000 limit for trip cancellation (or interruption), and much more.

Though it does not have the same insurance reputation as some other providers, it does underwrite policies with reputable companies.

HTH Travel Insurance

Medical coverage may be important for senior travelers on a budget who require excellent protection with flexible options. HTH Worldwide stands out in this regard. Seniors can obtain comprehensive medical coverage.

Overview

HTH Worldwide was founded in 1997, and HTH Travel Insurance provides comprehensive medical coverage. This is a major concern for seniors leaving the country, as they may end up in a doctor's office or hospital with a large bill to pay. HTH Travel Insurance provides total medical coverage of up to $1 million.

Policies for travelers with existing primary insurance provide 100% coverage for typical hospital charges such as surgery, tests, office visits, inpatient hospital stays, and prescription drugs outside of the United States, among other benefits.

Medical evacuation up to $500,000 is available, but trip interruption and baggage coverage are limited. Most people will select this plan for its medical benefits rather than its travel benefits. Applicants must be 95 years old or younger to be eligible for this policy.

Insurance is also available for those who do not currently have health coverage. Most seniors in the United States have some form of existing coverage, such as Medicare, but Medicare does not work outside of the United States, leaving seniors uninsured when traveling. HTH Travel Insurance offers policies for those who do not have existing medical coverage. The age limit is 95, but there is a pre-existing condition exclusion of 180 days.

Nationwide

Several options are available to protect your cruise vacation with tailored coverage for common cruise trip issues. This makes Nationwide a good choice for those who like to spend their vacations on the high seas. Check out the benefit levels to ensure you get the right coverage for your needs.

Overview

Nationwide has been in business since 1925 and provides the most common types of insurance such as auto, home, and life. It also provides travel insurance for single trips, multi-trips, and cruises.

Nationwide offers trip cancellation coverage of up to $10,000 with its Essentials plan and $30,000 with its Prime plan to protect your single trips. Travelers can also purchase a $59 annual travel insurance package that covers delays, medical expenses, medical evacuation, lost luggage, and travel assistance.

However, it is its custom-tailored cruise plans that have landed it in this category. The Universal Cruise plan, Choice Cruise plan, and Luxury Cruise plan make it simple to select the appropriate coverage for your specific needs. A 10-day cruise to Mexico, for example, was quoted at around $200 for both the Universal and Choice plans.

Nationwide cruise insurance covers the things you're most concerned about when going on a cruise. Breakdowns on ships and itinerary changes can result in missed excursions, flights, and other costs. The Universal Cruise plan covers emergency medical expenses up to $75,000 and medical evacuation benefits up to $250,000.

Furthermore, all plans include coverage for weather, school session extensions, work emergencies, and terrorism. The luxury plan also includes coverage for current Centers for Disease Control and Prevention warnings at your destination.

GeoBlue

GeoBlue provides several options for purchasing travel medical insurance coverage at a lower cost than a full travel insurance package. If you don't want or need additional travel insurance, it provides medical coverage on its own.

Overview

GeoBlue is a subsidiary of Worldwide Insurance Services, and its policies are licensed by the Blue Cross Blue Shield Association. Policies are issued by 4 Ever Life International Limited, a company with over 60 years of experience and an AM Best A rating (Excellent).

GeoBlue is a good option if you only need medical coverage. This insurer only provides travel medical coverage. Paying for medical coverage means you're not paying for the rest of your travel insurance, which you might already have. If you already have a credit card with travel insurance, the terms of your card will most likely cover things like lost luggage and missed flights. Instead, you only get medical coverage, and the costs are as low as a few dollars per day.

You'll pay a lot less than most other insurers on this list because you're mostly getting travel medical coverage. Just make sure you understand exactly what it does and does not cover. GeoBlue's plans provide only limited luggage protection and travel interruption coverage.

GeoBlue offers two general travel plans: single trips, multiple trips, and long-term travel. There are also five specialty policies for specific travel medical insurance needs, such as study abroad. It does not cover everything related to your trip, but it significantly reduces the cost of medical coverage.

In Conclusion

When it comes to travel insurance, there are numerous options to consider. If your travel plans are canceled or interrupted at the last minute, it can provide you with peace of mind and save you thousands of dollars. With global events such as pandemics, natural disasters, and wars that can easily throw a wrench in your travel plans, travel insurance can help you stay prepared. Overall, Travelex is our top pick for travel insurance.

Travelex provides affordable comprehensive travel insurance. Travelex policies cover everything from canceled or interrupted flights to medical emergencies and evacuations. It also includes a 15-day pre-existing condition waiver, so as long as you book your trip several weeks in advance, you should be fine.