Best Travel Insurance for Travelers in 2020
The best travel insurance should never be an afterthought.
It offers peace of mind and protection against the unexpected, whether it’s a medical emergency, lost luggage, an unforeseen weather calamity, or worse.
Travel insurance is there to cover you when things go wrong on your trips. Believe us, you never know when something might come up.
The thing about travel insurance is, shopping around for it can be tricky. There are plenty of travel insurance companies, and each one is slightly different from the next. Depending on your individual needs, you’ll need to pick a company and a plan that offers what you need.
Here’s how you can get the coverage you need by comparing the top 5 best travel insurance companies.
#1 Allianz Travel Insurance
Allianz is a large travel insurance company with a wide range of travel insurance policies for every type of traveler. Some highlights include:
- Best Service for Families
- Family-friendly plans that offer free coverage for kids under 17
- Both bare-bones coverage and up to $1,000,000 in medical emergency coverage
- Claims can be made from a mobile device
#2 Generali Global Assistance Travel Insurance
Generali Global Assistance offers simple, comprehensive travel insurance packages for all over the world.
- Best Value Travel Insurance
- Emergency medical coverage goes up to $1,000,000
- Purchase guide is available to help you find the right plan for you.
- Emergency cash advance of $500
#3 Travelex Travel Insurance
Travelex travel insurance provides four unique plans with up to $500,000 in emergency medical coverage. Other features include:
- Best Overall Service
- Children under 17 are covered for free.
- 24/7 customer service assistance before and during the trip
- Flight insurance offerings
Travelinsurance.com is the simple travel insurance search engine that compares quotes from top travel insurers for you. Highlights include:
- Best for Students
- Customer claim support
- Fast, easy quotes from top travel insurance partners
- Group travel insurance options available
Best Value for Money: Generali Global Assistance
Generali offers the most comprehensive packages when it comes to the money you spend and the deductibles.
Out of all of the travel insurance companies, Generali has some of the highest payouts. They offer three different packages: standard, preferred, and premium. All of these have relatively high payouts.
Opting for the standard package will give you a maximum of $150,000 in the medical and dental coverage and $250,000 in emergency medical transportation costs.
With the premium package, you will be covered up to $1,000,000, which is one of the highest payouts in the industry for the same prices as other companies.
Read our Generali Global Assistance review for more information.
Generali Global Assistance Pros
- Emergency cash: If you need money, you can receive an emergency cash advance up to $500.
- Large payouts: Out of all of the travel companies, Generali has some of the highest payouts.
- Phone medical consultations: Need to talk to a doctor? Generali offers over the phone medical consultation with U.S. based doctors so you can get a second opinion.
Generali Global Assistance Cons
- Not as much family coverage: Your children do not get free coverage with any Generali plan.
- Pre-existing conditions may not get coverage: Should you need it, the pre-existing medical condition waiver is only available at the premium level.
Best Overall Option: Travelex Travel Insurance
Travelex is one of the most flexible travel insurance companies you could choose because of the different packages and the unique features they offer.
Travelex splits their plans into two tiers: travel insurance and flight insurance plans.
Every person is unique and has different concerns based on their individual or familial needs. With Travelex, you have the option of choosing the level of coverage based on what means most to you.
Are you worried about flight cancellation? Choose one of the two flight cancellation plans, which are the accident-only coverage options.
Are you in need of medical coverage while abroad? With the Travel Basic or Travel Select, you have medical and dental coverage as well as trip cancellation insurance.
Our Travelex review has more details.
- Family options: All of your kids under 17 years old get free coverage with all of Travelex’s packages.
- Helpful add-ons: Travelex has several add-ons, including extensive adventure sports coverage.
- Pre-existing conditions can be covered: Almost all plans offer coverage if you have a pre-existing medical condition.
- Plans aren’t adjustable: You’re locked into your travel insurance once you leave. Your insurance can’t be adjusted once you’re abroad.
- Some options are only available on expensive plans: If you want to add the “Cancel for Any Reason” option, you can only do it at the Premium level.
Best for Students: TravelInsurance.com
Travelinsurance.comThe world of travel insurance is huge, and getting a quote can be difficult if you don’t know exactly where to start. There are plenty of top competitors out there claiming to be the best, but comparing plans and prices can be extremely overwhelming. That’s where Travelinsurance.com comes in and simplifies things for you.
Instead of opening several tabs and comparing quotes manually, simplify that process by using Travelinsurance.com to bridge the gap between all top companies. Think of Travelinsurance.com as a comparison search engine to match you with your perfect plan.
Our Travelinsurance.com review will go over the most important details of this website.
Travelinsurance.com has some great pros. This part of our Travelinsurance.com review will go over some of the highlights of these advantages.
- Top-insurer comparison: If you’ve looked at various kinds of travel insurance companies and want an easy way to compare the options, Travelinsurance.com can help. This website offers a side-by-side, unbiased comparison of several top insurers.
- User-friendly website: When you’re looking at quotes, sometimes the amount of information can be difficult to sort through. Travelinsurance.com is an organized, simple website that makes it easy to find the quote you need.
Best for Families: Allianz Global Travel
Traveling with the whole family can be as hard.
Choosing a location and activities that are great for the whole family can be tedious and stressful. What is even harder about traveling with a family is the cost, especially if you have several children.
If you’re traveling with your family, Allianz should be your top choice because of their comprehensive plans that won’t break the bank.
Once you purchase a plan with Allianz, your children under 17 will get free coverage. This free protection saves a lot of money and can offer you peace of mind. You can enjoy your vacation with your loved ones without worrying.
Our Allianz Travel review will give you more information.
Allianz Travel Pros
- Family coverage: Children and grandchildren get free insurance with an Allianz plan.
- Pre-existing conditions: You can sign a pre-existing medical waiver for any Allianz plan.
Allianz Travel Cons
- Coverage options are limited: If you’re looking for coverage for sports or equipment, the possibilities are slim.
- Plans cannot be extended: Your travel insurance plan cannot be extended while you’re already abroad.
Best for Nomads: World Nomads
No traveler is created equal. It’s important for a travel insurance company to consider that.
Not everyone is going on vacation to a resort for five days in a beach town. Some people are adventurous travelers, frequent or spontaneous travelers, and they may need specific coverage for that.
Let’s say you’re a backpacker and not sure where you’re going or when your travels will end. World Nomads offers you the option to extend coverage while you’re already abroad. This feature is pretty unheard of in the travel insurance world.
Additionally, if you are planning to partake in any extreme adventure sports, World Nomads has plans that cover you in the case of an accident. World Nomads is great for adventure junkies who live life on the edge.
These insurance plans make sure you are covered while you’re off enjoying your adventures.
Read our World Nomads review.
World Nomads Pros
- Extended coverage: World Nomads is one of the few companies that allow you to extend your coverage while you’re already abroad.
- Sports coverage: World Nomads also has the most extensive list of extreme sports and equipment coverage on the market.
World Nomads Cons
- Age cap: World Nomad caters to young travelers. Therefore, this company has an age cap of 70 years old.
- Low payouts: For the basic plans, the payout limits are pretty low compared to other companies.
Why You Need Travel Insurance
When you think about it, travel insurance seems like a great idea. In an emergency, travel insurance could save you tons of money.
So why is it that only 21% of Americans buy travel insurance when booking their flights?
Studies show that 78% of Americans don’t ensure their trips because of several reasons. Most people think travel insurance companies are confusing, time-consuming, and costly.
Luckily, once you check out our reviews on our favorite travel insurance companies, this step will be more manageable.
The bottom line is, you need travel insurance because you never know what could go wrong.
Most things are out of your control. When they go wrong, it has to come out of your pocket.
Instead of taking the risk and not protecting your trip, learn what travel insurance is, choose the right travel insurance plan for you today, and save yourself a world of trouble.
There are several real-life cases where having travel insurance has come in handy.
Sometimes the situations are much more common than you think. Not everything has to do with an emergency medical situation. Sometimes it can be as simple as having a flight delay.
For example, when Jeri of Temecula, CA, lost one night of hotel lodging when her flight was delayed. Luckily, she was able to file a claim with Allianz and get a full refund of the first night stay in the hotel. She just had to scan the flight info and copy of the bill to get refunded.
Without travel insurance, she would have lost that money due to a circumstance that was out of her control.
Sometimes things come up that prevent us from traveling. Life happens, and we never know when an emergency medical situation may cause trip cancellation.
That was just the case with a Travelex customer named Greg from Cleveland, Ohio. His father needed to go to the hospital for an emergency operation. After Greg got the doctor to fill out a form, Greg was reimbursed through Travelex. Had he not been insured, all of the money spent on the flights and reservations would have gone down the drain.
As you can see, travel is risky business when it comes to losing money. It’s always better to be safe than sorry.
Travel insurance can come in handy when you most need it.
What Travel Insurance Covers
The main travel insurance coverage components for most plans are trip cancellation or interruption, emergency medical coverage, and lost baggage.
Travel insurance can cover much more.
Plans vary. You can get as minimal or as in-depth coverage as you need. Learn the best travel insurance tips to choosing a company and policy that best fits your needs.
There are five main travel insurance components. Each offers different types of coverage.
The majority of people who book travel insurance are covering their overseas trips.
While most travel insurance companies cover domestic travel, flying internationally is even more of a reason to get a coverage plan. International flights are more expensive, and some countries have higher health risks than the US.
A standard international travel insurance plan will cover the costs of any loss of money due to flight cancellations and delays.
You can usually count on being covered in any country you visit. Double check beforehand to make sure.
Like we said, life happens. Sometimes life happens at the most unfortunate times, like right before a huge trip that cost a lot of money.
With a trip cancellation option, you can count on full reimbursement for non-refundable purchases made.
The most important thing to keep in mind with trip cancellation is that these covered reasons vary by provider.
The most common trip cancellation reasons include:
- Death of you or a family member
- Terrorism-related evacuation
Trip cancellation coverage provides reimbursement for non-refundable purchases should your trip be canceled or interrupted due to injury, illness, or a variety of other reasons.
If you need to cancel a trip to due to injury or illness, a trip cancellation package will reimburse you of any financial losses.
Any cancellations due to medical purposes need proper documentation. You cannot simply call your insurance company and ask them to reimburse you because you have the flu. You will need to visit a doctor and, similar to grade school, have a doctor’s note. Otherwise, you risk having your travel insurance claim rejected.
Cancel for Any Reason Option
Some travel insurance providers have a “cancel for any reason” feature that will reimburse you for your trip’s costs for whatever reason you choose.
This option is excellent for any inconveniences that fall outside of the reasons mentioned above. Insurance providers like Travelex provide the cancel for any reason option available in some of their plans.
Baggage coverage provides reimbursement should your luggage get lost, stolen, or damaged.
Some plans also cover replacement needs for items such as toiletries and clothing should your bags be delayed. Depending on the company, you may get reimbursement for any purchases made to tide you over until you get your luggage.
If your suitcases arrive later than you and you are forced to buy emergency purchases, companies like Allianz will reimburse you up to $200.
In the world of travel, something like can happen frequently. Having this peace of mind can help make you have the trip of your dreams.
One of the essential coverages is the cost of your medical bills should anything happen.
Paying medical bills out of pocket in any country is extremely costly, and not everyone has medical coverage that extends overseas.
Be covered in case something goes wrong. Whether you have a pre-existing condition that may require emergency attention on your travels or you want to be safe on an adventurous trip, a travel insurance plan with medical coverage is useful.
Medical coverage provides payment for emergency medical care should you get hurt or sick while traveling.
Plans vary, and different companies offer different maximum coverage amounts. In addition to emergency care, medical coverage typically provides emergency evacuation.
Primary Medical and Evacuation Coverage
In addition to your primary medical coverage for any doctors visits you may need, you will also be covered in case of more serious medical issues.
If your medical issue is life-threatening and requires you to be evacuated in an ambulance or even transported back home, your bills will be covered up to a certain amount of money. Check with your service provider to see exactly how much is covered. Some plans offer more support than others do.
When you’re shopping around for travel insurance, pay attention to the coverage cap. Most companies offer a variety of plans ranging from the “bare-bones coverage” to high payout ultimate coverage.
Some bare-bones plans do not offer things like evacuation coverage or cancel for any reason features. Some also do not extend their medical coverage to pre-existing conditions.
What Exactly Can You Get Reimbursed?
Travel insurance companies usually will reimburse any non-refundable reservations made during your trip.
That could include flight costs, hotel reservations, and other prepaid reservations during your stay. The cancellation due to illness also can cover relatives in your family, even if they aren’t traveling.
Check with your insurance provider to see if your relatives and children are covered under this policy.
When to Purchase Travel Insurance
The number one tip for purchasing travel insurance is making sure to buy it shortly after you’ve booked your flights.
A lot of travel insurance companies only let you ensure your trip within a certain amount of time after you’ve bought your flights. It’s always best to get insured as soon as possible.
Buying early means that you will have time to make any necessary adjustments if any complications come up.
How to Get and Compare Quotes
Now you’re faced with choosing between the plethora of companies. Comparing different brands is essential to finding the insurance that will work for you.
The most crucial step is finding a plan that fits your needs. We recommend checking out our series of travel insurance reviews where you can compare the policies of various travel insurance companies out there.
On our review page, you can find a breakdown of the best and worst things about each company.
Let’s say you’re looking for an option that includes coverage of pre-existing conditions for you and your family. Our thorough reviews can point you in the right direction.
Once you read up on all of the benefits and offerings of each company, you can then make your choice.
You need to give the website information to get your quote. Here is a guide to the information you’ll need.
Make sure that the place or places you’re traveling to are under the travel insurance companies’ range. If not, find a company that offers coverage for that location.
The destination is also a factor for your travel quote because of weather and even the possible activities that you’ll be doing there.
For example, if you take a ski trip in the Alps, you need a good trip cancellation policy in your package to account for weather. You also might want extra coverage to protect you from more dangerous activities like skiing or snowboarding.
Like most other types of insurance, the cost of your coverage highly depends on the age of the traveler(s).
When you’re looking to get a quote for your trip, your age and the ages of the members of your family matter. If you travel with a family and kids under 17, the children may get free coverage. Check our reviews to find out which companies offer this excellent family incentive.
On the other hand, many travel insurance companies prices do increase depending on your age. If you are 65 and older, travel insurance coverage can become more expensive.
Some companies, like World Nomads, are catered towards young travelers, particularly those under the age of 30. If you’re around 40 and above, you may want to avoid this company so that you don’t spend a fortune.
Companies like Seven Corners have plans specifically designed for seniors that make insurance more affordable.
The cost of your travel insurance coverage depends on the number of days you will need coverage.
Book travel insurance once you’ve finalized your travel dates and purchased the plane tickets so that you know how many days you need. Most insurance companies will charge you for changes. Other companies don’t let you change the dates that you need coverage.
To avoid any extra fees or the risk of having no coverage, finalize this beforehand.
Total Trip Cost
The entire trip cost is the cost of all of the non-refundable parts of the trip, including flights. You can factor any additional costs into the total cost of your trip.
Let’s say you’re going on a trip to Venice. To avoid lines, you’ve booked your gondola rides and city tours ahead of time. These packages aren’t refundable, so factor that into the total trip cost.
Pre-purchased transportation and hotel costs should also be a part of your total. Enter the correct trip amount so your rates can be adjusted accordingly.
How to Use Travel Insurance
Filing a Claim
Even though an astounding more than 90% of claims are successful, there is still a chance, although a small one, that the company might reject your claim.
To avoid this type of unexpected frustration, file your claim correctly.
Depending on the provider, your claim filing process can range anywhere from simple to a bit more complicated. A lot of travel insurance companies allow you to easily access your account and submit documents online, making this process simple.
Some companies even have a free mobile app so you can keep track of your documents while you’re on the go. Familiarize yourself with the company’s terms and conditions and the filing process ahead of time to avoid any headaches.
Your claim may be rejected because of any of the following issues.
The biggest rule in filing a claim is to make sure that you have every official document to support your claims.
That means keeping every receipt. Yes, every single one. A travel insurance company cannot refund you for something they don’t have any proof of. Sometimes bank statements aren’t enough to prove anything.
If your insurance claim is rejected because of missing documentation, this could make your process drag on and prolong the amount of time it takes to get reimbursed.
Avoid this by making sure you properly download and file your claims the first time.
Travel Insurance Purchased at the Wrong Time
Another huge reason why it’s important to check the terms and conditions of filing a claim is that some companies do not allow you to purchase travel insurance within a certain time frame.
While World Nomads allows you to purchase a package even while you’re on your trip, do not expect this to be the case for all companies.
Most companies have a specific time period that makes your claim eligible. Unfortunately, in most cases, a few days before you leave is too soon.
Also, purchasing a package because of a bad weather report or some type of threat will also make filing your claim cumbersome. It also will most likely result in a rejection.
Cancellation Reason Is Not Eligible With Current Plan
Similar to how to no two companies are created the same, two plans, even within the same company are not usually created the same.
Familiarize yourself with your plan and exactly what is covered because you don’t want any unexpected rejections.
If you opt for a more bare-bones, basic package, it may not cover pre-existing conditions or offer a baggage delay reimbursement. If you want the highest amount of coverage and payout limits, choose a plan that offers you plenty of options, flexibility, and high payouts.
Using in Emergencies
When an emergency does happen while you’re traveling, call your travel insurance customer hotline.
Each company’s policy vastly varies so the next steps will be a bit different from each. For example, if you get an emergency cash advance with your policy like Generali, contact your provider as soon as possible to get help.
The convenient thing about travel insurance companies is that reliable customer service hotlines are typically open 24/7. Hotlines are typically also available in multiple languages and can even offer medical consulting via phone to reassure you during your emergency.
While some people might not think they need travel insurance, we strongly recommend it.
A great travel insurance policy can give you peace of mind and save you lots of money should anything happen that influences your travel plans.
To learn more about travel insurance, browse the individual reviews of our top 5 travel insurance options.Read More