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If you’re looking at taking out a travel insurance policy, you might be feeling a little overwhelmed by the number of travel insurance companies you can choose from.
On top of that, each company offers several different policies, making it all-the-more confusing.
If this is you, don’t worry – we’re here to make things a lot easier.
In this post, we will be looking at all things travel insurance: companies, policies, travel insurance costs, as well as what to expect with different policies, typically suiting different budgets and needs.
Which is the best travel insurance company?
There are many insurance companies offering travel insurance. While there are some leaders in the industry, like Allianz Global Assistance, it is hard to find one company that is best for everyone.
Travel insurance policies are very personal, and you should find the one company that is the best fit for you, your travel style, needs, and, of course, your budget.
We always recommend shopping around; get quotes from different companies to find the one that offers everything you need for the best price.
To help you find the best travel insurance company for you, we’ve picked some of the most popular providers.
Travelex is one of the most experienced travel insurance companies available on the market today. They offer customizable travel insurance plans, which you can perfectly fit with your travel plans and your budget.
With Travelex, you can also choose one of the two most popular plans they offer: Travel Basic and Travel Select.
Travel Basic: covers all the basic traveling needs, like emergency medical and dental, trip cancellation or delay benefits, cancellations for business reasons, medical evacuation, and others.
Travel Select: on the other hand, it is fully customizable and can be tailored exactly to your needs.
Other plans include business travel insurance, rental car insurance, and flight insurance.
- Kids under 17 are included without extra cost
- Cancelation for any reason coverage available
- Possible preexisting condition coverage
Allianz Global Assistance
Allianz Global Assistance is known to be one of the best travel insurance providers. They offer single journey plans as well as annual plans for those traveling on a more regular basis.
Their plans start from very basic insurance policies, including not much more than medical coverage, and go all the way to the premier level, which includes many benefits and covers many reasons for cancellations
They also include rental car theft and collision coverage.
- A lot of different travel insurance plans
- Annual travel insurance plans
- 24/7 hotline assistance and concierge services available
Does AAA Offer Travel Insurance?
One question people often ask is whether AAA offers travel insurance. The short answer is yes – and it’s powered by Allianz Global Assistance.
Their travel insurance policy includes trip cancellation, medical expenses due to illness or injury, medical transportation, lost or damaged luggage coverage, as well as flight delays, and rental car insurance.
AAA travel consultants will also help you to choose the best travel insurance policy depending on your needs and budget.
World Nomads is an insurance company that is most suited for those who like adventures. Their plans cover over 200 activities, including sports, water, snow, land, and air activities such as hiking, skiing, and even bungee jumping!
Their travel insurance plans also include coverage for your luggage, tech, and gear, which takes care of damage and theft. World Nomads offers help for terrorist attack victims and victims of any type of assault while on a trip.
- Covers a long list of holiday activities
- Protects your luggage and gear
- Possibility to prolong your policy should you extend your trip
AXA Assistance USA
AXA Assistance provides a high-quality service at affordable prices.
Their plans include medical care and assistance, travel security tips and alerts, as well as travel insurance such as trip cancellation, luggage insurance, and assistance all the way through.
They can even take care of your pets while you’re away.
- They offer pet housing
- Emergency cash assistance
- Help to manage risk and security before and during travels
RoamRight has many travel insurance plans, including single and multi-journey plans. The most popular ones are Essential, Preferred, and Elite plans, each offering different levels of coverages.
Elite plan is the one with the most coverages and highest limits. This plan is perfect for active travelers since it has an upgrade that covers many activities and extreme sports, such as skydiving and bungee jumping.
The Preferred plan has an add on that allows you to cancel your trip for no reason.
- Fast paperless claims
- Optional extreme sports coverages
- Any reason cancelations are available
Generali Global Assistance
Generali Global Assistance offers three travel insurance plans – Standard, Preferred, and Premium.
Their Standard plan covers cancelation, medical and dental, baggage delay, and other basic coverages.
If you want a more advanced plan, you can choose from Preferred or Premium plans, which can include sporting equipment coverage, preexisting medical condition coverage, and trip cancelation without reason.
Different plans also have different maximum limits.
- No reason cancelation can be added
- All plans include an identity theft resolution
- Call with a licensed doctor for consultation
Atlas Group Travel Insurance
Atlas Group Travel Insurance offers flexible travel insurance for those who want to get specific coverages.
Their list of coverages available is extensive. It can include coverages such as medical expenses and emergency dental, pregnancy complications, political evacuation and medical, and even assistance in case of kidnapping or a terrorist attack.
Atlas also offers translation services, help with lost documents, and emergency cash.
- Assistance in case of terrorist attack or kidnapping
- A wide range of available coverages
- High payout limits
- Flexible deductibles
What are the main travel insurance policies?
Generally, policies will start from the more basic plans and expand to premium plans where you can choose the right coverage for you.
Some companies will also offer flexible or fully-customizable policies where you can tailor the policy to your specific needs.
A travel insurance policy can include many different coverages, all of which will be listed in your policy document. Coverages can include:
- Trip Cancellation: You can get your money back if you have to cancel your trip for a reason listed in your policy. Some policies may include a no reason cancellation.
- Medical: This can have many different coverages, from basic emergency medical and dental to medical transportation and preexisting medical condition treatment.
- Luggage and Belongings: This coverage can cover lost or delayed luggage, as well as damage or theft of/to your belongings like tech and gear.
Why is it important to have travel insurance?
That’s one of those questions I get asked constantly – and I’m not surprised. When you’re trying your best to manage your money better or save money, even such essential things as travel insurance become a ‘nice-to-have’ rather than a ‘must-have.’
But there are many reasons why having travel insurance shouldn’t be optional if you care about your financial wellbeing. I’ve listed the most important ones below:
- Cancellations: Having your trip canceled because the airline goes bust or you break a leg can mean you’re losing a lot of money. Travel insurance usually covers cancellations for good reasons like serious injury or illness, if your chosen airline goes on strike, or other reasons covered in your insurance policy. It can save you so much money if your trip needs to be canceled for a reason that’s out of your control.
- Natural Disasters: If your trip is canceled due to natural disaster either at home or your final destination, you’re covered. The truth is, tsunamis and earthquakes do happen – and you may well be forced to change your travel plans if they do. Having travel coverage means those changes won’t break the bank.
- Political Instability: Depending on where you’re traveling, there’s a possibility your trip might be affected by political unrest or instability. Some travel insurance companies cover medical expenses due to political instability as well as emergency evacuation.
- Theft or Other Crime: Theft happens – and when you’re in a foreign country where culture and language are different,
things can get so much worse than when you’re in your familiar surroundings. Insuring your belongings against theft or any damage will help you recover if you lose your money, things, or personal documents after becoming a victim to pickpocketing or another crime.
- Medical Treatment: There are a few options you can be offered or can choose from here, such as emergency medical and dental coverage, primary and secondary insurance coverage, emergency medical evacuation, or transportation. Several policies will also include preexisting medical conditions.
- Other Unpredictable Circumstances: Most insurance companies have different lists of unexpected events coverage. Make sure you take the time to read the policy carefully to see which unpredictable circumstances are covered by your policy.
What does travel insurance cost depend on?
There are quite a few things that can influence the price of your travel insurance – and here are the main ones:
- Your age: As with health insurance, your age is one of the main things that’ll affect how much your travel insurance costs.
- Trip duration and cost: How much you pay for travel insurance will also depend directly on the duration and the cost of your holiday.
- Destination: Some destinations can cost a bit more than others – for example, if the country you’re visiting has higher healthcare costs.
- Medical conditions you want to be covered for: Usually, you can choose between basic and extended plans, which will include different amounts of medical coverages.
- Amount and breadth of coverage: There are many different plans from different companies, including different coverages, all of which come at varying costs. Many companies also offer optional add ons, which, of course, come at an extra fee.
Which is the best travel insurance for USA?
Now that you know who the best travel insurance providers are, you may be wondering which is the ultimate best option for the USA.
Choosing the best travel insurance provider in the USA can be a very personal matter because each trip is different, and there are so many factors to take into account.
That said, World Nomads is often rated as one of the best by travelers. It is not surprising since their coverage list is so vast, and you can pick and choose what you need for your trip without overpaying.
World Nomads is also the best choice for active travelers that are planning to do some extreme sports during their vocation. Their plans cover skiing and other winter sports, as well as many more sports and activities.