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Best Annual Travel Insurance in 2024

Carissa Rawson

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

If you’re a frequent traveler, annual travel insurance may be something you’ve been considering. Unlike single-trip insurance, annual travel insurance plans can cover you for an entire year, no matter how often you’re on the road.

Let’s look at the best yearly travel insurance companies, why we choose them and the coverage you can expect.

Factors we considered when picking travel insurance companies

We used the following criteria when choosing which companies we thought were best:

Cost . Annual plans can be expensive — depending on the type of coverage you choose — so we wanted ensure that they stayed affordable. 

Types of coverage . Travel insurance for annual travelers can be limited in its coverage. We picked the ones with the broadest range of coverage for possible travel disruptions.

Coverage amounts . Annual trip insurance isn’t worth much if your limits are too low. Instead, we wanted plans with reasonable coverage amounts. 

Customizability . If your travels take you to different places, you’ll want the ability to customize your plan. The best annual travel insurance plans can provide this. 

» Learn more: What does travel insurance cover?

An overview of the best annual travel insurance

We gathered quotes from various travel insurance companies to determine the best annual travel insurance policies. In these examples, we used a year-long trip by a 22-year-old from Alabama. We indicated the main countries of travel as France and Malaysia, and when asked, put the total trip costs at $6,000.

The average cost for an annual travel insurance plan came out to $220. The plans ranged from $138-$386.

Let’s take a closer look at our top recommendations for annual travel insurance.

review best travel insurance

1. Allianz Travel

What makes Allianz travel insurance great:

Lower than average cost.

Provides health care and travel insurance benefits.

Includes rental car insurance up to $45,000. 

Here’s a snippet from our Allianz Travel insurance review :

“AllTrips Basic (annual plan) is suitable for those who would like emergency medical coverage while abroad but don't need trip cancellation and interruption benefits. The AllTrips Prime, Executive and Premier plans provide an entire year of comprehensive travel insurance benefits.

The Executive and Premier plans offer various levels of trip cancellation and interruption benefits. The Executive plan is specifically designed for business travelers since it offers protection for business equipment.”

review best travel insurance

2. Seven Corners

What makes Seven Corners great:

Offers up to $20,000 for acute coverage of pre-existing conditions. 

Includes up to $1 million for emergency medical evacuation. 

Optional add-on for adventure sport activities.

$0 deductible available. 

Here’s a snippet from our Seven Corners review :

“Seven Corners offers one annual policy called Travel Medical Annual Multi-Trip. The policy can be customized depending on how long you plan to be away from home for any one trip. You can travel as much as you like during the 364 days, so long as any one trip doesn’t exceed the option selected — 30, 45 or 60 days.”

review best travel insurance

What makes IMG great:

Good customizability with medical evacuations and sports coverage. 

Low $250 deductible.

Includes coverage for semi-private hospital rooms. 

Here’s a snippet from our IMG review:

“Some policies provide emergency medical evacuation coverage, while others skip this benefit entirely. This benefit may be more important to you if you travel to a remote location or engage in physical activity such as trekking.

More comprehensive plans may include other benefits such as assistance with acquiring a new passport, reimbursing reward mile redeposit fees or coverage for pre-existing conditions. If these are something you’re interested in, be sure to check that your policy includes these options.”

review best travel insurance

4. Trawick International

What makes Trawick International great:

100% coverage for trip cancellation and trip interruption. 

Emergency medical evacuation included. 

Trip delay reimbursement coverage. 

Here’s a snippet from our Trawick International review :

“Trawick International is a comprehensive travel insurance provider that offers trip delay and cancellation insurance, baggage delay coverage, medical coverage and medical evacuation, rental car damage protection, and even COVID-19 coverage among its various policies.

Trawick covers trips for worldwide destinations, including for foreign nationals coming to the U.S.”

What does travel insurance cover?

You’ll find a wide variety of coverage types offered by travel insurance policies. This is true whether you're purchasing a single-trip or annual travel insurance plan. Here are some common types you can expect to find:

Accidental death insurance .

Baggage delay and lost luggage insurance .

Cancel for Any Reason insurance .

Emergency evacuation insurance .

Medical insurance .

Rental car insurance .

Trip cancellation insurance .

Trip interruption insurance .

How to choose the best annual travel insurance policy

While we’ve highlighted some of the best annual travel insurance companies, the truth is that the best plan for you isn’t going to be the best plan for someone else. If you’re interested in buying annual travel insurance, you’ll want to collect a variety of quotes to see which policy best fits your needs.

This may mean opting for a plan that covers pre-existing conditions or one that specifically includes high-risk activities. Or, if you’re in a country where health care is notoriously expensive, you may want to choose a policy with higher maximums.

Many credit cards come with complimentary travel insurance .

Whatever the case, do your research first and review all the plan details before making your purchase.

» Learn more: How to find the best travel insurance

If you want to buy annual travel insurance

Annual travel insurance can be a great option if you’re often out of town. With such a wide range of policies available, selecting a plan that fits your needs is easy. We’ve done some of the work for you by choosing the best annual travel insurance companies, all of which made the top of the list for their cost, customizability, types of coverage and plan maximums.

Like any travel insurance policy, the cost of your plan is going to vary. Factors that may affect the cost of your annual travel insurance include your age, where you’re going, how long you’ll be traveling, your policy maximums and whether preexisting conditions are included.

Although not all travel insurance providers offer annual travel insurance, many of them do. We’ve gathered together the five best, including Allianz Travel, World Nomads, Seven Corners, IMG and Trawick International.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

Chase Sapphire Reserve Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®.

Chase Sapphire Preferred Credit Card

1x-5x 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.

Chase Southwest Rapid Rewards® Plus Credit Card

1x-2x Earn 2X points on Southwest® purchases. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services, and select streaming. Earn 1X points on all other purchases.

30,000 Limited-time offer: Earn Companion Pass® good through 2/28/25 plus 30,000 points after you spend $4,000 on purchases in the first 3 months from account opening.

review best travel insurance

Best Travel Insurance Companies

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Traveling soon? Make sure your trip is covered!

Get travel insurance that meets your needs on Faye

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Read our guide to learn about the best travel insurance company for you. Travel insurance can cover flight cancellations, lost or stolen luggage, trip extension or interruptions and medical emergencies while you’re away from home. We compared different types of travel insurance plans, policies and coverage options.

  • Our recommendations are based on what reviewers say.
  • 4,400,296 reviews on ConsumerAffairs are verified.
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What is travel insurance?

Travel insurance is a type of insurance that protects individuals and families from specific financial losses that occur before, during or after a trip. The exact coverages you get from a travel insurance plan can vary greatly, as can coverage levels, limits and deductible requirements.

Still, it's possible to set up a travel insurance plan that reimburses you when a trip has to be canceled for reasons beyond your control, or to secure coverage that will pay for medical bills and emergency transportation if you become ill or injured during your vacation. Some travel insurance plans can also reimburse you for lost, damaged or delayed baggage or other expenses that occur as a result.

What are the types of travel insurance?

As you shop around for travel insurance, you will quickly notice that different types of coverage and limits are included in different plans. That's due to the fact that some travel insurance plans are more comprehensive than others and some travel insurance providers include more types of protection in their policies overall.

Trip cancellation insurance

Trip cancellation coverage reimburses you for prepaid travel expenses when your trip is canceled for a reason beyond your control. Examples of this include canceling due to illness of someone who planned to go on the trip or the death of an immediate family member.

Trip interruption insurance

This kind of coverage applies when your trip is interrupted after you depart but a covered situation is preventing you from moving forward. You might be able to use a trip interruption benefit if you become injured or ill after your trip begins and you need to return home or if a natural disaster prevents you from reaching your destination.

Emergency medical expense coverage

This kind of coverage pays for emergency medical (and potentially dental) expenses that occur when you're away from home and your own health insurance does not apply.

Daniel Durazo of Allianz Partners USA says this may be the most important coverage for consumers to purchase, particularly if someone on the policy ends up in a situation requiring medical care that needs immediate out-of-pocket payment. This is common overseas, where it’s common to have to pay for services before leaving the hospital.

“That’s why choosing a travel insurance policy with appropriate medical benefits is a smart move,” he advised.

Emergency evacuation and transportation coverage

According to Durazo, medical evacuation and transportation costs can easily range from $15,000 to $200,000 (or more) depending on the traveler’s health condition and where they are in the world. This is why another important type of coverage is emergency evacuation, which could be required if you become sick or injured in a remote area and need an ambulance, helicopter or plane to get you to the nearest medical facility.

Also note that emergency medical evacuation coverage may pay for transportation back to your home country if it’s deemed medically necessary.

Trip delay coverage

Trip delay coverage can pay for unexpected expenses that pop up when your trip is delayed for a specific length of time — usually six or 12 hours. This kind of coverage can reimburse you for meals, accommodations, communication and transportation costs you may pay while waiting for your trip to depart.

Insurance for lost, stolen or delayed baggage

Many travel insurance plans also cover financial losses due to baggage that is lost, stolen or delayed while in the care of a common carrier like an airline. Insurance for lost or stolen baggage can reimburse you (up to limits) for your baggage and personal effects, whereas delayed baggage insurance can reimburse you for incidental expenses that arise while you wait for your bags to show up.

What does travel insurance cover?

What travel insurance plans cover can vary from plan to plan, which is why you'll want to read over your policy details and the fine print so you know for sure. That said, it's important to remember that travel insurance is for unforeseeable events or situations beyond your control that you can’t predict.

This means you can't use travel insurance to pay for costs resulting from routine health care, or wait to buy travel insurance for a beach trip after a named hurricane is already in the area. However, there are a number of instances where it does apply.

  • Weather or worker delays: Some travel insurance policies offer reimbursement for trips interrupted by worker strikes or the weather, which are both issues beyond your control.
  • Sickness, injury or death: An illness, injury or death of a loved one might require a trip cancellation. With the right coverage, however, you can get reimbursed for prepaid travel expenses like airfare, hotels and tours.
  • Work-related interruptions: If work interferes with your ability to travel, you may be able to cancel and get your money back with the right coverage. The same is true if you become unemployed and can no longer afford to take your planned trip.

Travel insurance can make up the difference in the following situations:

  • Emergency evacuation: If you suffer from a medical emergency during a trip, your travel insurance may cover medical and ambulance (and even evacuation by plane) expenses.
  • Dental coverage: A dental emergency may not be immediately life-threatening, but it can certainly ruin a vacation. Be sure that your dental coverage protects you where you’re visiting, or consider including it in your travel insurance plan.
  • Preexisting condition coverage: A preexisting condition can act up at any time, but many travel insurance policies will not cover them. Ask about preexisting conditions, since premium policies may include this type of coverage if you add it to your plan within a few weeks of your initial trip deposit.
  • Canceled flight coverage: If your flight is canceled and it causes you to miss a connection, travel insurance can pay for a hotel stay and a new flight as soon as it's available.
  • Easy logistics: When you miss a flight, it can throw your entire itinerary out of whack, but your travel insurance company should be able to do the work to put you back on track.
  • Interruption coverage: If something happens at home and you need to cut your trip short, travel insurance can help cover the cost of the return fare and reimburse the unused portion of your trip.
  • Clothing allowance: If your luggage is lost, be sure to ask your insurer about a clothing allowance to help you get through your vacation and replace your missing items.
  • Property replacement: It’s not uncommon for people to travel with valuable items like jewelry or personal care products. Be sure to discuss them with your insurance company before traveling to ensure they're covered for replacement.
  • Luggage delays: If your luggage is permanently lost, your travel insurance would probably replace it, but if it's only delayed, you might need to deal with some interim needs. Insurance could pay for an outfit or two and for toiletries to hold you over until your luggage can be delivered.
  • Ask about policy extensions: It’s always a good idea to know ahead of time whether you can extend your travel insurance coverage if you decide on the fly to extend your trip.
  • Long-term and short-term policies: Many travel insurance policies only cover a short time frame — sometimes only a week or two. If you plan to travel more extensively, be sure to ask about long-term options.
  • Limited coverage on extensions: Some travel insurance may allow for limited extensions with little to no extra cost. They may not include all premium services, however, so it's important to find out what is and is not covered on an extension.

What is not covered by travel insurance?

Essentially, anything not listed as covered in your policy will not be eligible for reimbursement through travel insurance. However, some items not covered by travel insurance may catch consumers by surprise.

Make sure to read your policy carefully to see if preexisting medical conditions, including pregnancy, are covered.

For example, James Clark of Squaremouth, which helps consumers compare travel quotes, says that preexisting medical conditions typically are not covered unless the traveler chooses a policy that offers coverage for preexisting conditions shortly after booking their trip.

"Preexisting condition policies must be purchased within 14 to 30 days of making your initial trip deposit and don’t typically cost any additional premium," said Clark.

Clark notes that many travelers also have the misconception that travel insurance will cover regular health-related issues that may impact their trip, including hospital costs that result from pregnancy and delivery. However, most policies don't cover pregnancy-related expenses, such as prescription medication, delivery charges and postpartum visits.

Other situations typically not covered through travel insurance include:

  • Participation in high-risk activities and sports (unless explicitly included in coverage within the policy details)
  • Cancellations due to known storms
  • Government-issued travel restrictions
  • Acts of war
  • Losses caused by unlawful acts

How to choose a travel insurance plan

Before you select a travel insurance policy, you need to think over the type of trip you are planning and the risks you're taking on as a result. For example, a road trip adventure that only lasts a few days will typically require a different type of coverage than a luxury cruise or an international trip that lasts several weeks.

Adequate medical coverage is the first factor to consider when selecting a travel insurance policy.

Consider these tips to ensure you wind up with the best travel insurance plan for your needs.

  • Line up adequate medical coverage first and foremost. Because medical expenses and medical evacuation are often the most important coverages in a travel insurance plan, you'll want to make sure the limits you get are sufficient for your needs. If you have a preexisting medical condition, make sure the plan you're considering lets you get coverage for your condition right off the bat (even if an added cost is required).
  • Weigh potential risks for your specific plans. Also look at your specific trip and make sure you have coverage that makes sense. For example, a vacation with several different flights and connections should have adequate limits for trip delays and lost or delayed baggage. Meanwhile, you may want to have specialized coverage for a cruise, including coverage for travel inconveniences and missed excursions.
  • Consider coverage limits. Keep coverage levels in mind as you compare plans and policies, particularly if you're sensitive to price. As an example, some basic travel insurance plans only offer a few hundred dollars (or even less) in coverage for baggage delays and $500 or less in protection for your luggage and personal belongings.
  • Check whether you get 24/7 travel assistance. Durazo says another major benefit of travel insurance is the assistance services many providers offer, which can apply wherever you are in the world. He adds that this type of coverage can arrange medical treatment in an emergency, monitor customers’ care, provide interpreters, help replace lost passports and more.
  • Consider optional CFAR coverage. Also ask yourself about the likelihood of you being unable to travel, and if you want the chance to cancel and get some of your money back. If you feel there's a chance you won't be able to go, consider buying optional cancel-for-any-reason (CFAR) coverage that reimburses you for 50% to 80% of your prepaid travel expenses when you decide not to travel for any reason at all.

How to apply for travel insurance

Applying for travel insurance is relatively easy, and you don't have to submit nearly as much information as you do when you apply for other types of insurance coverage. The steps below can help you line up coverage for your next vacation or even multiple trips you plan to take over several months.

Travel insurance alternatives

If you’re hesitant to purchase travel insurance, consider some of these alternatives:

  • Credit card travel insurance: Some travel credit cards offer included travel insurance benefits that apply when you use the card to pay for your trip. Coverage you may be able to get with a credit card includes trip cancellation and interruption insurance, primary rental car coverage, trip delay benefits, lost luggage reimbursement, emergency evacuation insurance and more.
  • Membership programs: Some membership plans can pay for emergency medical evacuation anywhere in the world, and you can secure coverage on an annual basis if you prefer. These may offer all-expenses-paid medical transport to the medical facility of your choice, language translation services, coverage for the transfer of mortal remains and more.
  • Travel protection: It's also possible to purchase travel protection directly from some travel providers at the point of sale. If you purchase a flight through Delta, for example, you can add on a policy that provides some coverage for trip cancellations and lost baggage. Just remember that travel coverage offered through airlines and cruise lines may be limited, and that coverage for medical expenses may be limited or nonexistent.

» MORE Best vacation loans of 2023

Frequently asked questions

The cost of travel insurance varies based on factors like the length of the trip, the age of travelers, included coverages and limits, and the destinations visited. However, the reported average cost typically works out to around 4% to 12% of your total trip cost, or $200 to $600 for a vacation that costs $5,000.

Many travelers tend to buy travel insurance coverage at the last minute, but this isn't a good idea, since you want to have the longest period of coverage possible. Ultimately, it's best to purchase travel insurance as soon as you make the initial trip deposit for each trip you plan to take.

If you're traveling outside the U.S., your own health plan generally won't apply. With that in mind, you'll want to have travel insurance coverage with adequate limits for emergency medical and dental care and emergency medical evacuation.

While the cost of travel insurance might feel like a waste, this coverage could help you recoup your prepaid trip costs if you become sick or injured away from home. That said, there may be instances where you don't need a plan, such as when you're planning a short road trip where you'll maintain possession of your luggage and belongings and your own health insurance still applies.

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Travel insurance reviews

Allianz Global Assistance

Allianz Global Assistance has a long history in the industry. They were the insurer on the Wright brothers' flight and on the construction of the Golden Gate Bridge.

Travelex Insurance Services

Travelex Insurance Services is a leader in the travel insurance industry. They offer a variety of plans with customizable upgrades so you can find the perfect plan for your trip.

APRIL Travel Protection

APRIL International offers multiple travel insurance plans for anyone traveling internationally. Coverage includes medical, death and disability, trip cancellation, baggage and more. It has a presence across 37 countries to help cover your single-trip and annual multi-trip plans.

Tripinsurance.com

Trip Insurance is an online company that helps consumers compare, choose and buy travel insurance, trip cancellation insurance and coverage for devices lost or damaged during travel. Policy options are categorized as good, better or best values, allowing for fast comparison of policy features. Travelers can also find exclusive direct-to-consumer rates, buy insurance directly through the Trip Insurance website and take advantage of customer support 24 hours a day.

Trip Mate Insurance

As the first company to waive the pre-existing condition exclusion, Trip Mate Insurance demonstrates its commitment to making every vacation as perfect as possible.

Travel Guard

Serving millions of travelers each year, Travel Guard is one of the leading providers of travel insurance.

TravelSafe Insurance

Founded in 1971, TravelSafe offers comprehensive insurance packages to travelers from the United States and Canada.

Travel Insured

Founded in 1994, and formerly a part of the Travelers Insurance Group, Travel Insured works with more than 1,500 travel agencies to offer quality travel insurance products.

American Express Travel Insurance

As a Fortune 500 company, American Express offers a wide range of financial and insurance services.

  • Allianz Travel, " Travel Insurance 101: How Travel Insurance Works ." Accessed March 1, 2023.
  • Insurance Information Institute, " Should you buy travel insurance? " Accessed Feb. 28, 2023.

Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. ConsumerAffairs.com makes no representation as to the accuracy of the information provided and assumes no liability for any damages or loss arising from its use.

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Personal Finance

Best travel insurance companies for february 2024.

best travel insurance companies

Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.

Planning to travel in 2024? You're not alone. According to the U.S Travel Association , a trade group, travel has bounced back after the pandemic, with Americans forecasted to spend a staggering $1.09 trillion on domestic and international travel this year. This surge, however, comes with its challenges, as travel costs have soared to unprecedented heights, fueled by increased demand and price inflation.

In this era of heightened travel expenses, safeguarding your journey is paramount. Enter travel insurance, a crucial shield against the uncertainties that may arise during your adventures. To help you navigate this crucial decision, we've compiled a list of the best travel insurance companies. Join us as we explore these top choices, ensuring your travels are not only memorable but also financially protected.

Compare the best travel insurance companies 2024

Our recommendations for the best travel insurance companies, best for adventure enthusiasts: travelex.

Travelex

Travelex Travel Insurance

Policy cancellation.

The Travelex “Basic” plan provides $15,000 of medical and $10,000 of trip cancellation coverage. These coverage amounts are lower than those offered by other companies in our review. However, higher limits are available by selecting the company’s “Select” plan.

Among its upgrade options, Travelex offers adventure sports coverage for those whose itinerary includes such adrenaline-rush activities as zip lining, skydiving, or mountain climbing. This coverage can be added to any Travelex plan.

It’s also worth noting that Travelex is one of the highest-rated travel insurance providers on Trustpilot , having earned 4.1 out of five stars. One recent reviewer noted, "I've always been skeptical of trip insurance and all the promises of straightforward claim processes, but I was blown away with how responsive, simple, and logical the Travelex was. I decline all trip insurance for any travel booking I do now and only use Travelex. Cheaper, more efficient, less red tape. What's not to love?”

Best standard coverage package: Generali Global Assistance

Generali Global Assistance

Generali Global Assistance

Generali Global Assistance is a European company with insurance services focusing on travel and identity protection. Its “Standard” plan for travel insurance provides $50,000 of medical expense coverage and trip cancellation coverage for 100% of the insured value.  

The plan also includes travel delay, baggage damage, baggage delay, and missed connection coverage. Options such as rental car collision damage and upgrade plans allow you to travel with even more coverage.

Generali has 3.4 out of five stars with Trustpilot .

Best for “cancel for any reason” coverage: AXA Travel Insurance

AXA Insurance

AXA Travel Insurance

Many American consumers may not immediately recognize AXA Travel Insurance , but the company is a multinational financial services giant headquartered in France. Its “Silver” plan—AXA’s entry-level travel insurance offering—includes coverage for $25,000 of emergency medical expenses and 100% of the insured trip cost if the trip is canceled. Additional coverages include trip delay, missed connection, medical evacuation, and baggage coverage.

The company’s “Platinum” plan provides “cancel for any reason” trip cancellation coverage. This means you can cancel your trip for any reason—personal, professional, medical, family, or other—and expect to receive reimbursement. This contrasts with standard trip cancellation coverage, in which the cancellation must be for one of the specific reasons stated in the policy contract. The “Platinum” plan also includes higher amounts of emergency medical expenses and other coverages.

AXA has 3.2 out of 5 stars in its Trustpilot rating.

Best for spontaneous travelers: AIG Travelguard

AIG is a leading global provider of insurance for both individuals and businesses. Its Travelguard “Essential” plan offers $15,000 of emergency medical coverage and trip cancellation coverage for 100% of the insured cost of the trip. Higher coverage amounts are available with the company’s “Preferred” and “Deluxe” plans.

AIG Travelguard also offers its unusual “Pack N’ Go” plan, designed for last-minute travelers who don't need trip cancellation coverage. This plan includes up to $1,000 of trip interruption and $25,000 of medical expense coverage, along with coverages for trip delays, missed connections, and lost luggage.

AIG promises quotes on its website in less than two minutes, making it easy to include Travelguard in your comparison shopping. Travelguard has 1.7 out of 5 stars on Trustpilot , though this is based on only 64 reviews.

Best for families with young children: Allianz

Allianz Global Assistance (Allianz Travel) is a subsidiary of Allianz SE, the world’s largest diversified insurance company. Its “Basic” plan includes $10,000 of both trip interruption and emergency medical expense coverage. The company offers several plans with higher coverage, along with an “Emergency Medical” plan focused primarily on medical coverage. Allianz also offers several annual policy plans for those who intend to travel multiple times a year.

The company’s “OneTrip Prime” plan extends coverage for free to children under age 17 who are traveling with a parent or grandparent, making it ideal for family vacations. Allianz claims the plan is its most popular, with up to $100,000 of trip cancellation and $50,000 of emergency medical coverage.

Allianz earns 4.4 out of five stars in its Trustpilot rating, including 76% five-star reviews.

Best for luxury travel: Berkshire Hathaway

Berkshire Hathaway is one of the country’s largest companies (currently seventh on the Fortune 500). It’s also the parent company of auto insurance giant GEICO.

Berkshire Hathaway’s “ExactCare Value” policy plan includes $15,000 of medical coverage and trip cancellation coverage of 100% of the insured value of the trip. The plan also includes coverage for lost baggage, baggage delay, trip delay, and emergency evacuation.

Berkshire Hathaway offers a specialized insurance plan for luxury travel. This plan features higher medical and trip cancellation coverage limits, $2,500 worth of lost baggage coverage, $35,000 of car rental collision coverage, and 24/7 worldwide travel assistance.

Berkshire Hathaway Travel Insurance does not currently have a Trustpilot rating.

Best for cruises: Nationwide

Nationwide is one of the country's most recognizable insurance brands, with policies available for homes, cars, and businesses. The company also offers travel insurance.

Its “Single-trip Essential” travel insurance plan provides $75,000 in medical emergency coverage. This is the most coverage of any of the companies in our review. Nationwide’s $10,000 limit for trip cancellation is lower than that of other plans, however.

Higher limits are available with its “Prime” plan, along with a cancel-for-any-reason option that pays 75% of the insured trip cost. The plan also includes a variety of additional coverages, such as trip delay, baggage delay, emergency medical evacuation, and optional rental car coverage.

Nationwide also offers a separate, specialized travel insurance policy for those embarking on cruises . Besides expected coverages such as trip cancellation and emergency medical, it covers itinerary changes, mechanical breakdown, and missed connections.

Nationwide has earned 1.5 out of 5 stars in its Trustpilot rating, based on only 67 reviews.

Best for amateur athletes: Tin Leg

Tin Leg travel insurance policy plans are underwritten by Berkshire Hathaway and other companies. Its “Economy” plan includes trip cancellation coverage at 100% of the insured cost and $20,000 of emergency medical coverage. The company offers a variety of additional travel insurance plans with varying levels of coverage.

If you’re traveling to participate in a sports event and bringing your expensive gear, Tin Leg could be a great choice. Its “Economy” plan includes coverage for loss of, or damage to, sporting equipment (such as a bicycle or skis). It also reimburses your event registration fees if your trip is canceled or interrupted.

Tin Leg has a Trustpilot rating of 1.6 out of 5 stars, though this is based on only 24 reviews.

Methodology

To develop our recommendations, we gathered information about several leading travel insurance providers from their websites and third-party reviews, where available. We focused on the range of essential coverages, including emergency medical coverage and trip cancellation coverage, along with the availability of 24/7 customer support during travel. Where it existed, we noted each company’s policy cancellation terms.

We reviewed the most economical plan for each company that included both medical and trip cancellation coverage. We also noted optional coverages and upgraded plans that provide higher levels of coverage or specialty coverages for niche travel.

This information is for comparison purposes only. Please verify policy details before purchasing.

How to select the best travel insurance company

Follow these tips to choose the best travel insurance company for your needs.

Determine your needs

Your travel insurance needs for a Caribbean cruise may differ significantly from those for a backpacking trip through the Swiss Alps. Your first step should be to outline your travel expense budget and list the activities in which you plan to participate (note that some policies include optional coverage for certain activities, such as adventure sports). Also, consider your health status, as some policies require you to pay extra for certain pre-existing health conditions.

Investigate your travel insurance options

Check if you might already have some travel insurance readily available to you. Some credit card companies offer coverage if you use their card to pay for your trip. Coverage may also be available from a tour operator or an airline. You can also get recommendations from a travel agent or an independent insurance agent.

Compare available features and coverage amounts

You'll discover that each travel insurance provider offers varying levels of standard coverage, such as trip cancellation and emergency medical expense, along with optional coverages. They typically also offer multiple plans (think "good," "better," and "best"). Review these and select a few providers that offer the coverages you need.

Get quotes from multiple companies

As with any other type of insurance, travel insurance costs vary among companies. Check with at least three or four to ensure that you're getting the coverage you want at a price you can afford.

Time STAMP: Travel is more expensive than ever. Protect your trip with travel insurance

Business and pleasure travel alike have bounced back from the pandemic. However, traveling has also become much more expensive, thanks to inflation and increased demand. If you plan to head to some far-off destination—whether by air, road, rail, or ship—consider buying travel insurance. A policy reimburses covered medical costs, trip interruption, and other snags that may befall your trip.

Frequently asked questions (FAQs)

How is your travel insurance cost determined.

Your travel insurance cost will vary based on the amount of coverage purchased, the number of travelers, the age of the travelers, and your trip destination. Travel insurance costs also vary by insurance company, underscoring the need to shop around for coverage.

Which travel insurance coverages are available?

Travel insurance policies typically include the following coverages.

  • Emergency medical expenses . This helps cover the cost of care if you or anyone insured by the policy has a medical emergency during your trip.
  • Trip cancellation . This covers the cost of your trip if it's canceled due to one of the reasons listed on the policy contract. You may also have an option for "cancel for any reason," which provides coverage if the trip is canceled, regardless of the reason why.
  • Trip interruption . This covers costs related to a shortening of your trip. These costs might include reimbursement of prepaid hotel bookings, airline change fees, or extra accommodations needed during your trip home.
  • Emergency medical transport . This covers the cost of transportation to the nearest medical facility if you have a medical emergency during your travel.
  • Luggage damage . This provides coverage if your luggage is damaged or lost during travel.
  • Travel delay . This covers costs associated with a significant delay to your travel, including additional accommodations and meals.

I’m concerned about getting sick while traveling. What insurance should I look for?

If you’re concerned about getting sick, be sure to choose a policy that includes coverages such as emergency medical (which helps pay for your medical expenses) and emergency medical transport (which helps pay for transportation to a hospital).

Do I need travel insurance for a cruise?

Travel insurance is worth considering for a cruise. As insurer Allianz notes, a policy can help you recoup costs if you need to cancel at the last minute, have a medical emergency while on board or at a stop (regular health insurance may not provide coverage outside of the U.S.), or if you miss the ship all together due to a delay by your airline.

Is there travel insurance for multiple trips?

If you’re planning to take multiple trips in a single year, you might want to consider multi-trip insurance (also called “annual” travel insurance). This type of policy typically provides trip interruption, emergency medical expense, trip delay, and other coverages at a price that’s less than buying a policy for each trip.

How do I file a travel insurance claim?

If you need to file a travel insurance claim, call the insurance company. Each company has its own process for claim filing. You'll want to be sure you have the proper claim forms and understand what supporting documentation the company requires. Be sure to follow the company's instructions for submitting your claim request.

How long does it take for a travel insurance claim to be paid?

It can take several weeks for a travel insurance claim to be paid. Be sure to watch for any follow-up requests from your insurer (such as requests for additional documentation) and respond promptly to avoid unnecessary delays.

Does my credit card offer travel insurance?

Some credit cards do offer varying levels of travel insurance, including trip interruption, medical expense, trip delay, and emergency evacuation coverage. Check your credit card terms and conditions or benefits statement to understand what coverage may be provided.

The card_name card offers one of the best portfolios of travel insurance benefits, including $100,000 of emergency transportation coverage, $2,500 of emergency medical and dental coverage, and up to $20,000 of trip interruption coverage.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.

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