- Price is only so-so compared to companies evaluated, but you’re getting robust benefits.
- Baggage delay coverage requires a 12-hour delay.
Investing in travel insurance emerges as a wise decision, particularly if the prospect of losing the hard-earned money spent on your trip is a concern. The most effective travel insurance policies offer financial protection, covering you against unexpected events that could disrupt your travel plans. This holds true whether you’re embarking on an international holiday adventure or planning a family visit within the United States.
Moreover, the best travel insurance companies offer a broad spectrum of coverage options to suit various travel needs. They can provide reimbursements for trip cancellations, medical emergencies, lost luggage, and even travel delays. This ensures peace of mind, knowing that should any unforeseen circumstances arise—from health emergencies to last-minute trip changes—your financial investment is safeguarded. With these comprehensive policies, travelers can focus more on enjoying their journey and less on the potential financial risks associated with travel.
Editor, Working Capital Staff
Editor’s note: At WorkingCapital, our revenue is partly generated through commissions earned from affiliate links. It’s important to clarify that these commissions have no impact on the views or evaluations made by our editorial team.
Our editorial integrity is paramount. We offer unbiased evaluations and insights, unaffected by advertisers. Our method is based on a data-driven approach, guaranteeing uniform and equitable evaluation of all financial entities and products. To gain insight into our editorial principles and the particular criteria employed in our reviews, please consult our Evaluation Method.
BEST FOR PRICE
On Squaremouth's Website
On Squaremouth's Website
Choice
Yes
Choice
$50,000/$250,000
GREAT FOR HURRICANE AND WEATHER
On Squaremouth's Website
On Squaremouth's Website
LuxuryCare
Yes
LuxuryCare
$100,000/$1 million
GREAT FOR SUPERIOR COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Diamond
Yes
Diamond
$500,000/$1 million
GREAT FOR RENTAL CAR COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Safe Travels Voyager
Yes
Safe Travels Voyager
$250,000/$1 million
BEST FOR FAMILIES
On Squaremouth's Website
On Squaremouth's Website
Travel Select
Yes
Travel Select
$50,000/$500,000
GREAT FOR PRICE
On Squaremouth's Website
On Squaremouth's Website
Gold Plan
Yes
Gold
$500,000/$500,000
BEST FOR AD&D COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Gold plan
Yes
Gold
$250,000/$1 million
GREAT FOR DOG OWNERS
On Squaremouth's Website
On Squaremouth's Website
iTravelInsured LX
Yes
iTravelInsured LX
$500,000/$1 million
GREAT FOR PRE-EXISTING MEDICAL CONDITION COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Premium Plan
Yes
Premium
$250,000/$1 million
GREAT FOR PARENTS
On Squaremouth's Website
On Squaremouth's Website
Travel Plan
Yes
Travel
$500,000/$500,000
BEST FOR BAGGAGE AND PERSONAL EFFECTS COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Platinum Plan
Yes
Platinum
$250,000/$1 million
GREAT FOR ADD-ON COVERAGES
On Squaremouth's Website
On Squaremouth's Website
Atlas Journey Premier
Yes
Atlas Journey Premier
$150,000/$1 million
BEST FOR MISSED CONNECTION COVERAGE
On Squaremouth's Website
On Squaremouth's Website
Classic Plan
Yes
Classic
$100,000/$1 million
BEST FOR NON-MEDICAL EVACUATION
On Squaremouth's Website
On Squaremouth's Website
Worldwide Trip Protector
Yes
Worldwide Trip Protector
$100,000/$1 million
BEST VALUE FOR ROBUST COVERAGE
On Squaremouth's Website
On Squaremouth's Website
RoundTrip Choice
Yes
RoundTrip Choice
$500,000/$1 million
BEST FOR UPGRADES
On Squaremouth's Website
On Squaremouth's Website
Cruise Luxury
Yes
Cruise Luxury
$150,000/$1 million
GREAT FOR MEDICAL COVERAGE
On Squaremouth's Website
On Squaremouth's Website
TripProtector Preferred Plan
Yes
TripProtector Preferred
$500,000/$1 million
| Company | Best For | Top Scoring Policy | Medical benefits per person | Evacuation benefits per person |
|---|---|---|---|---|
 GoReady Insurance | Best for price | Choice | $50,000 | $250,000 |
 Berkshire Hathaway Travel Protection | Great for hurricane and weather | LuxuryCare | $100,000 | $1 million |
 USI Affinity Travel Insurance Services | Great for superior coverage | Diamond | $500,000 | $1 million |
 Trawick International | Great for rental car coverage | Safe Travels Voyager | $250,000 | $1 million |
 Travelex Insurance Services | Best for families | Travel Select | $50,000 | $500,000 |
 Tin Leg | Great for price | Gold | $500,000 | $500,000 |
 John Hancock Insurance Agency | Best for ad&d coverage | Gold | $250,000 | $1 million |
 IMG | Great for dog owners | iTravelInsured LX | $500,000 | $1 million |
 Generali Global Assistance | Great for pre-existing medical condition coverage | Premium | $250,000 | $1 million |
 Cat 70 | Great for parents | Travel | $500,000 | $500,000 |
 AXA Assistance USA | Best for baggage and personal effects coverage | Platinum | $250,000 | $1 million |
 WorldTrips | Great for add-on coverages | Atlas Journey Premier | $150,000 | $1 million |
 TravelSafe | Best for missed connection coverage | Classic | $100,000 | $1 million |
 Travel Insured International | Best for non-medical evacuation | Worldwide Trip Protector | $100,000 | $1 million |
 Seven Corners | Best value for robust coverage | RoundTrip Choice | $500,000 | $1 million |
 Nationwide | Best for upgrades | Cruise Luxury | $150,000 | $1 million |
 HTH Worldwide | Great for medical coverage | TripProtector Preferred | $500,000 | $1 million |
Comprehensive travel insurance policies offer a myriad of beneficial features. While some policies are tailored exclusively to cover trip cancellations or medical expenses, the vast array of plans available ensures you can find a coverage level that fits both your budget and travel requirements.
Key components to look for in a comprehensive travel insurance plan include:
Trip Cancellation Insurance: While no one plans for a trip cancellation, unforeseen circumstances like illness, injury, or jury duty can disrupt travel plans. This insurance reimburses 100% of your lost prepaid, non-refundable deposits for cancellations due to reasons stated in the policy. For concerns specific to Covid, several policies cover cancellations due to contracting the virus before your trip. It’s advisable to insure the total amount of your non-refundable and prepaid deposits, excluding refundable items like plane tickets.
Travel Delay Insurance: Unexpected delays can be stressful and expensive. Travel delay insurance provides reimbursement for essential expenses during delays covered by your insurance, such as food and accommodation. The coverage usually begins after a specified waiting period and has a daily and total maximum limit.
“Cancel for Any Reason” (CFAR) Coverage: CFAR insurance grants the flexibility to cancel your trip for reasons not listed in the standard policy. Although reimbursement is typically 75% or 50% of trip costs, unlike the 100% under standard trip cancellation coverage, CFAR offers unparalleled freedom. Note that not all insurers provide CFAR, and it tends to increase the policy cost by about 50%.
Travel Medical Insurance: Essential for international travelers, this insurance covers medical expenses like ambulance services, X-rays, and hospital bills. The best travel insurance for seniors includes this coverage as Medicare often doesn’t cover international health care. Coverage limits can reach up to $500,000 per person. Confirm whether your policy includes Covid-related medical expenses.
Emergency Medical Evacuation Coverage: Particularly crucial for travel to remote areas, this insurance pays for transportation to the nearest suitable medical facility. Top policies offer coverage up to $1 million per person.
Trip Interruption Insurance: If you need to end your trip early for a covered reason, this insurance reimburses you for missed non-refundable travel expenses and may cover the cost of a last-minute one-way ticket home.
Baggage Delay Coverage: This coverage reimburses you for essential items while waiting for delayed luggage, usually kicking in after a specified delay, like six hours.
Baggage Loss and Personal Effects Coverage: In case your luggage is delayed, lost, or stolen, this insurance helps mitigate the financial impact by reimbursing the depreciated value of your belongings.
Travel insurance provides a safety net, allowing travelers to embark on their journeys with confidence, knowing they are covered against a wide range of unforeseen events and emergencies. It’s crucial to carefully evaluate each policy’s features to ensure they align with your specific travel needs and concerns.
WorkingCapital conducted an evaluation of 53 travel insurance policies to identify the best plans in the market, utilizing data from Squaremouth, a renowned travel insurance comparison service. In instances where companies offered multiple plans, we focused on their highest-scoring option. It’s important to note that some insurers may offer plans with more comprehensive benefits or lower prices than their top-scoring ones. Hence, obtaining travel insurance quotes is essential to explore the full spectrum of available options. The key aspects evaluated were:
Cost (25% of Score): The average cost of each policy was assessed based on trips to popular destinations like Italy and Mexico, catering to various traveler profiles:
COVID-related Medical Coverage (10% of Score): Policies including coverage for COVID-related medical expenses received additional points.
Medical Expenses (10% of Score): We evaluated travel medical insurance based on the coverage amount, with policies offering $250,000 or more per person in benefits scoring the highest.
Medical Evacuation (10% of Score): Policies were assessed based on emergency medical evacuation/transportation coverage, with those offering benefits of $500,000 or more per person receiving the highest scores.
“Cancel for Any Reason” Upgrade (10%): Points were allocated to policies offering this upgrade, especially those with reimbursement levels of 75% or higher.
Baggage Delay Required Waiting Time (5%): Policies with baggage delay benefits activating within 12 hours or less were favored.
Baggage Reimbursement Benefits (5%): Plans offering $2,000 or more per person in baggage reimbursement received points.
Hurricane and Weather (5%): We awarded points to plans with a required waiting period of 12 hours or less for hurricane and weather coverage.
“Interruption for Any Reason” Upgrade (5%): Policies providing this upgrade were also scored.
Pre-existing Medical Condition Exclusion Waiver (5%): Points were given to policies covering pre-existing conditions if purchased within a specific timeframe.
Travel Delay Required Waiting Time (5%): Policies with travel delay benefits effective after six hours or less were favored.
Trip Interruption Travel Insurance (5%): Policies offering 150% or more in trip interruption reimbursement were awarded points.
This comprehensive scoring system was designed to ensure travelers have access to the best insurance options that cater to a wide range of travel scenarios and personal needs.
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.
© 2023 Working Capital, LLC
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.