Best Travel Insurance

Travel insurance can be a smart way to protect yourself from a financial loss the next time you take a trip. Some travel plans cover things like personal belongings and lost luggage, while others cover unexpected health care costs, medical emergencies, and even full-on trip cancellations.

A number of companies offer travel insurance plans, each with varying plans and types of coverage. Are you busy booking your next trip? Use this guide to easily compare the best travel insurance.

In this guide:

• Best travel insurance companies
• Types of travel insurance
• What affects the cost of travel insurance?
• Is travel insurance worth it?

Best travel insurance companies

We compared the top travel insurance providers on coverage, cost, and quality, using a similar trip scenario. All quotes were based on a September 2020 trip to Spain, with a total trip cost of $3,000. The prospective traveler was a 40-year-old woman.

Provider	Types	Plans	Quotes
World Nomads	Single trip	Basic, Explorer	$69 to $112
Allianz	Single trip, annual plans	Basic, Prime, Premier	$60 to $450
Amex Assurance	Single trip	Basic, Silver, Gold, Platinum	$59 to $208
Seven Corners	Single trip, medical-only, student trip, frequent traveler	Economy, Choice, Elite	$96 to $270
Berkshire Hathaway	Single trip	AirCare, ExactCare, AdrenalineCare, WaveCare	$29 to $246
IMG	Single trip, annual plans	International, Platinum, Exchange, Travel Lite, Travel SE, Student Health, Outreach	$18 to $245

World Nomads

Information above for the Explorer plan.

Best for: Adventure travelers

World Nomads is a travel insurance company that offers coverage for medical care, trip delay and cancellation, lost baggage, and more. It also offers “adventure sports and activities” coverage, which provides reimbursement for injuries sustained in over 200 different activities. Travel policies from World Nomads are underwritten by Nationwide Insurance—a well-known and highly-rated insurance agency.

Coverage:

• Emergency accident and medical expenses
• Repatriation and medical transportation
• Trip cancellation, interruption, and delay
• Lost baggage and personal belongings
• Baggage delay
• Accidental death and dismemberment
• Rental car coverage (damage coverage not included in the basic plan)
• 24-hour assistance
• Adventure sports injuries

Costs: 

• Basic: $69.92
• Explorer: $112.13

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Allianz

The information above is for the Allianz OneTrip Premier Plan.

Best for: Regular travelers

Allianz is a travel insurer that offers both single-trip and annual coverage, though its annual plans are where the company really shines. Annual coverage costs as little as $60 per year for basic travel medical insurance. Higher-cost annual plans offer additional coverages for business equipment, lost baggage, trip cancellations, and more.

Coverage:

• Trip cancellation and interruption
• Emergency medical expenses
• Emergency transportation
• Lost or damaged luggage
• Baggage delays
• 24-hour assistance
• Travel delays
• Rental car coverage (as an optional upgrade)
• Business equipment coverage (annual plans only)

Costs: 

• OneTrip Basic: $99
• OneTrip Prime: $126
• OneTrip Premier: $192
• Annual Plan: $60 (basic) to $450 (executive)

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Amex Assurance

Best for: Custom coverage

Amex Assurance is the travel insurance arm of American Express, though you don’t need to be a credit card customer to purchase a policy. The company has four pre-established plans, ranging from basic to platinum-level coverage, as well as customizable policies you can build to your liking. Choose from medical and dental coverages, travel accident protection, lost baggage coverage, and more.

Coverage:

• Trip cancellation and interruption
• Medical and dental expenses
• Travel accident and death/dismemberment
• Lost baggage protection
• Trip delay coverage
• 24-hour assistance

Costs: 

• Basic: $59
• Silver: $133
• Gold: $157
• Platinum: $208

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Seven Corners

The information above is for the RoundTrip Elite plan.

Best for: Traveler-specific coverage

If you’re looking for a lot of options, Seven Corners is where you’ll want to start. The company offers single-trip travel protection, medical-only plans, frequent traveler coverage, and even plans specific to students, scholars, and educators. Medical-only coverage in our test scenario was a mere $37.90, while whole trip protection for a student was $71 at the economy level.

Coverage:

• Trip cancellation, delay, and interruption
• Missed connections
• Accident and emergency medical expenses
• Lost, stolen, or damaged baggage
• Baggage delays
• 24-hour assistance
• Accidental death and dismemberment
• Pre-existing conditions (only on higher-priced plans)
• Rental car damage (optional add-on)

Costs: 

• Economy: $96
• Choice: $123
• Elite: $150
• Frequent Traveler: $200

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Berkshire Hathaway

The information above is for the ExactCare plan.

Best for: Trip-specific coverage

Berkshire Hathaway offers travel insurance coverage tailored to specific trip types and destinations. Its WaveCare policies are an option for cruise travelers, AdrenalineCare is designed for adventure travelers, and there’s even an AirCare plan for flight-specific coverages. There are also both reimbursement plans and fixed-benefit policies.

Coverage:

• Trip cancellation, delay, and interruption
• Missed connections
• Accident and emergency medical expenses
• Lost, stolen, or damaged baggage
• Baggage delays
• Emergency evacuation and repatriation
• Accidental death and dismemberment
• Adventure sports coverage (AdrenalineCare plan only)

Costs:

• AirCare: $29
• ExactCare Value: $195
• WaveCare: $240
• ExactCare: $246
• AdrenalineCare: $271

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IMG

The information above is for the iTravelInsured SE plan.

Best for: Travel medical insurance

If your main concern is having medical coverage on your trip, IMG has tons of options for you. The company offers 17 different plans, many offering medical-only coverage. There are medical insurance plans for seniors, students, missionaries, and more, and each plan offers a variety of deductible options and maximum limits.

Coverage:

• Medical and dental expenses
• Emergency evacuation coverage
• Trip protection
• Lost luggage
• Identity theft coverage
• Accidental death and dismemberment
• 24-hour assistance
• Rental car damage
• Small pet coverage and kennel expenses
• Internet usage fees

Costs:

• Patriot International: $18
• iTravelInsured Travel Lite: $108
• Student Health Advantage: $112
• iTravelInsured Travel SE: $128

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Types of travel insurance

As you can see, there are several types of travel insurance coverage from which you can choose. The best option depends on your unique situation, the trip you’re taking, your budget, and many other factors.

Here are just a few of the types of travel coverage from which you can typically choose:

• Trip cancellation or interruption: This covers some or all of your trip costs if you’re forced to cancel it or if a travel interruption cuts it short for any reason. Some also cover additional costs you might incur if you’re forced to stay longer due to airline or other delays.
• Medical assistance: If you or one of your fellow travelers is injured or gets sick during your travels, this covers costs that your existing health insurance won’t.
• Lost baggage and personal belongings: These plans reimburse you for any luggage or belongings that might be lost, damaged, or stolen over the course of your trip.
• Rental car coverage: If you’re renting a vehicle during your travels, this coverage can protect you in case you’re in an accident.

You can also choose what’s called 24-hour assistance if you want extra help along the way. With this coverage, you’ll get access to a 24-7 hotline that can help you book flights, find a doctor or lawyer, make reservations, and more.

What affects the cost of travel insurance?

The costs of a travel insurance policy vary widely—both from plan to plan and from insurer to insurer. Where you’re traveling, the cost of your trip, and many other factors will also play a role in how much you’ll pay.

Ultimately, the cost of travel insurance for your trip will depend on:

• The coverages you choose: The more coverage you want, the higher your costs will be.
• Your destination: Some destinations have higher healthcare and lodging costs than others, so this will affect your quote as well.
• Length of trip: Longer trips cost more, and the bigger your overall trip bill is, the more it will cost to insure.
• Your age: Older people tend to be more expensive to insure, so plans for these travelers will come with higher costs.

What type of plan you choose will impact your costs, too. Choosing a single-trip plan will be much less expensive than an annual one since it covers less risk.

Is travel insurance worth it?

Though travel insurance can offer some major benefits—especially if your trip is canceled, you experience an unexpected emergency, or you need a medical evacuation—it’s not the right move for everyone.

Here are some scenarios when you might want to consider it and a few when you might not.

When it makes sense to get travel insurance

• You’re booking a trip way ahead of time: If you’re booking your trip many months in advance, there’s a good chance your circumstances could change—both personally and financially—before your departure date rolls around. Travel insurance can protect you if something goes awry during this waiting period.
• You’re traveling somewhere dangerous: Trips to more volatile areas might warrant a good look at travel coverage, especially if there’s some sort of conflict or health crisis going on in the region. If you have any particularly dangerous activities planned (climbing a mountain, for example), it might be a smart move, too.
• You’re taking a particularly long trip: If you’re taking a long trip, especially one outside the country, there’s a lot of time for things to go wrong. Coverage for medical emergencies and even 24-hour assistance might be smart in this scenario.

When you should consider skipping travel insurance

• Your credit card already offers good coverage: A lot of credit cards offer free coverage for trips booked using their cards. Benefits include rental car, lost luggage, and even trip cancellation coverage in many cases.
• You’re only traveling domestically: Short trips within the United States generally don’t warrant added coverage. Your existing health insurance will cover you in the event of health issues, and you can likely return home fairly easily.

When should you buy travel insurance

If you’re considering travel insurance, you’ll want to buy it early—within a few days or weeks of booking your trip. This will give you the most coverage in case of emergency, and it might even qualify you for some bonus coverage.

And again, don’t forget to check with your credit card company before buying added trip insurance. Here are just a few cards that offer trip cancellation coverage.