The 10 Best Travel Insurance Companies of August 2023
Travel insurance is an important purchase for anyone who plans to take a trip. The best travel insurance companies offer robust coverage for medical-related issues and other specialty extras.
Travelex stands out as one of the best travel insurance providers for its extensive coverage at a reasonable price. Their policies also cover multiple countries, making them ideal for long-term travelers and digital nomads.
- Berkshire Hathaway
Berkshire Hathaway is an American multinational company that offers a wide range of insurance products, including travel protection. Chaired by Warren Buffett, the company also has a diverse portfolio of manufacturing, retail, and financial services companies.
BHTP offers several different travel insurance plans to fit the needs of various types of travelers, from families to millennials to business executives. Their plans offer coverage for trip cancellation, medical expenses, and even lost luggage. Some of their policies also include the option to upgrade to add a Cancel For Any Reason feature.
BHTP has dedicated itself to streamlining its claim process to make it easier for its customers to file a claim and get reimbursed. Their claims can be filed online or by using their mobile app. They also offer 24/7 travel assistance. Their plans are competitively priced.
- World Nomads
World Nomads is an insurer that specializes in providing travel insurance plans with the adventurous traveler in mind. Their policies offer coverage for a wide range of adventure activities, and their trip cancellation and interruption coverage is highly competitive.
They also have excellent customer service with 24/7 support, which is especially helpful for travelers who need to make a claim. Their online claims process is very simple and quick, which is another plus.
Their coverage includes medical emergencies, trip cancellation, and interruption, lost or stolen baggage and gear, and evacuation expenses. They also have a flexible buy policy anytime, anywhere feature, so you can get cover even while traveling. This is a major plus for travelers who don’t want to wait to purchase their travel insurance coverage. They also have very competitive maximum limits. However, they don’t cover pre-existing conditions.
- Seven Corners
Founded in 1993, Seven Corners is an innovative company that provides service-focused travel insurance solutions to a global market. They offer a wide range of international medical and trip insurance plans. They also provide non-insurance assistance services.
In addition to comprehensive travel insurance policies, they also offer specialized medical and security coverage for students and missionaries. Their specialized plans can cover in-home care for travelers who have an accident or illness that prevents them from traveling back to the US. They also offer an exclusion waiver for pre-existing conditions, but only for unexpected occurrences (not expected ones).
Their trip protection plans include a variety of benefits, such as reimbursement for prepaid expenses that you must cancel for a covered reason. Their Wander Frequent Traveler plan is especially suited for frequent travelers. It is an annual policy and offers flexible coverage limits.
- American Express
American Express is an issuer of credit cards, travel-related services, and financial products. It also offers travel planning and booking, tour packages, and car and hotel reservations. The company also operates travel agencies and provides insurance. Its subsidiaries include Accertify and Amex Assurance.
Travelex is a longtime player in the travel insurance industry and offers comprehensive coverage at a budget-friendly cost per trip. Its plans are underwritten by financially strong insurers. Travelex focuses on family travel and includes children’s coverage at no additional cost.
Its Platinum plan covers expenses for leisure activities like ski trips, missed tee times, and sports equipment rentals. The company also has policies tailored to specific types of travel, such as its road-trip-focused ExactCare Lite policy. Its COVID-19 coverage is one of the most robust we found. Its policies also offer 24-hour assistance.
- IMG Global
International Medical Group offers a variety of international travel insurance plans. Its iTravelInsured plans offer trip cancellation and interruption coverage as well as emergency medical evacuation coverage. They also include a Cancel for Any Reason add-on with some of its policies.
IMG Global provides its customers with an online account to manage their insurance needs. Its site is easy to navigate and offers helpful resources for travelers. Its customer service representatives are knowledgeable and friendly.
The IMG website has an instant quote tool that allows you to enter your trip details and get a price estimate. The quotes are based on the length of your trip, your destination, and your age. IMG’s plans generally cost more than point-of-sale travel insurance options, but they offer better coverage for a higher premium. They are also renewable on an annual basis.
- Travelex
Travelex is a foreign exchange company that provides currency and travel products in several locations across the globe. Their services include online and mobile FX ordering, ATM click & collect, as well as outsourcing/white labeled currency solutions for retailers and travel agents.
Their insurance products include Travel Select and Travel Basic plans, both of which offer a variety of upgrades that can be chosen a la carte. They also feature a policy cancellation option that offers a refund if you cancel your trip before departure.
Both of their plans include coverage for emergency medical expenses, lost luggage, and trip interruption. However, the Travel Select plan offers higher limits on these benefits than its other offerings. The company also offers a plan for families that includes coverage for children free of charge, as long as they are accompanied by an insured adult.
- Travel Guard
AIG Travel Guard has been around for a long time and offers a wide range of insurance plans that cover most risks associated with traveling. You can get an annual plan that covers multiple trips or a single-trip policy depending on your needs. Their policies also provide assistance services that help with things like canceled flights, lost luggage, and sudden health emergencies.
They offer competitive plans for individuals, families, and companies that can be customized to meet different needs. They also have a variety of other plans such as credit card holder benefits, loyalty club member insurance, and expatriate insurance. They also offer high limits on emergency medical and baggage loss/delay across their three primary coverage tiers. Their policies are affordable as well and fall within the industry average. This makes them a great choice for most travelers.
- Global Underwriters
Global Underwriters offers world-class service with exceptional International Accident & Sickness Medical coverage and Special Risk insurance products for groups and individuals. They also provide comprehensive travel and crisis management solutions for businesses with overseas employees, Defense Base Act, Kidnap and Extortion coverage, and plans for non-profits, faith-based organizations, entertainment & production, and education.
They provide covid-19 travel insurance that covers the coronavirus sickness just like any other new illness under their Diplomat America and Diplomat Long Term travel insurance plans for US and non-US citizens. They also offer a host of additional benefits such as adventure sports riders and higher AD&D limits.
Their plans offer 24-hour emergency assistance, personalized quotes, and a user-friendly website for plan information and claim submission. They even have a dedicated help desk for any questions or concerns that might arise during your trip.
- IMG Global Senior
For senior travelers, IMG Global offers both trip cancellation and travel health insurance plans. Their GlobeHopper Senior Single-Trip plan, for example, allows travelers to choose their deductible and maximum coverage amount.
They also offer several benefits, such as medical evacuation assistance and international provider access. IMG also provides 24/7 travel advice.
The company’s website is easy to use and presents information in an organized manner. The IMG site also has a button to trigger live chat, which is helpful for those who prefer to contact customer service representatives directly. Moreover, the company has an extensive forms library, making it easier for travelers to file a claim without speaking to an agent. The website is available in multiple languages. It is ideal for visitors to the USA or foreign nationals traveling to the United States for business or pleasure.
- Travel Guard Senior
AIG Travel Guard offers a variety of policies for travelers, covering a wide range of risks and costs associated with travel. They also offer add-on coverages like adventure sports and medevac that you won’t find in many other plans. They’re backed by a large established company, have high maximum payouts, and have a decent Cancel for Any Reason option.
You can purchase Travel Guard through their website or directly with airlines and other travel providers. You can also get a quote for their annual multi-trip policy by calling.
John Hancock offers streamlined travel insurance packages for older adults with ample protection, although their prices are a bit on the expensive side. However, they do have some great benefits like 24/7 assistance and high coverage options for seniors. They also cover pre-existing conditions for those who qualify.