Travel insurance is an essential part of planning any trip, whether domestic or international. It provides coverage for unforeseen events such as trip cancellations, medical emergencies, lost luggage, and other travel-related issues. With many travel insurance providers available, it can be challenging to choose the right one for your needs. In this guide, we will explore the 10 best travel insurance companies of 2024, evaluating their plans, coverage options, pros and cons, and overall value.

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1. Faye

Our Top Pick

Faye is known for its digital-first approach, making it an ideal choice for travelers who prefer managing their insurance online. Faye offers a single comprehensive plan with several optional add-ons, providing flexibility and ease of use.

Coverage Overview

Coverage ItemFaye Travel Insurance Coverage
Trip CancellationUp to 100% of non-refundable trip costs
Trip InterruptionUp to 150% of non-refundable trip costs
Lost or Stolen Baggage$150 per item, up to $2,000
Baggage Delay$200 if delayed 6+ hours, $300 if 12+ hours
Medical ExpensesUp to $250,000 (for international trips)
Emergency EvacuationUp to $500,000 (for international trips)

Pros

  • Quick, all-online quotes and enrollment
  • $200 reimbursement for delayed bags (6+ hours)
  • Optional cancel-for-any-reason (CFAR) add-on covers up to 75% of trip costs
  • Reimbursement directly to phone’s digital wallet on approved claims

Cons

  • Only offers one plan option
  • No add-on coverage for accidental death and dismemberment

Average Cost

  • $297.87 per trip

2. Travelex Insurance

Our Pick for Families

Travelex Insurance is a top choice for families and budget travelers, offering affordable plans with essential coverage. Travelex provides flat-rate coverage options, making it a cost-effective choice for domestic and international trips.

Coverage Overview

Coverage ItemTravel BasicTravel SelectTravel America
Trip Cancellation100% of trip costs100% of trip costs100% of trip costs
Trip Interruption100% of trip costs150% of trip costs150% of trip costs
Lost or Stolen Baggage$500$1,000$250,000
Baggage Delay$100$200$1,000
Medical Expenses$15,000$50,000$50,000
Emergency Evacuation$100,000$500,000$100,000

Pros

  • Flat-rate policies starting at $60 per person
  • Includes emergency evacuation as standard coverage
  • Offers adventure sports waiver

Cons

  • Low $15,000 medical limit on the basic plan
  • CFAR coverage only up to 50%

Average Cost

  • $242 per trip

3. Nationwide Travel Insurance

Our Pick for Cruise Travel

Nationwide Travel Insurance offers extensive coverage tailored for cruise travelers, making it a top pick for those planning sea voyages. It provides high reimbursement limits and specific coverage for cruise-related issues.

Coverage Overview

Coverage ItemUniversal CruiseChoice CruiseLuxury Cruise
Trip Cancellation100% of trip costs100% of trip costs100% of trip costs
Trip Interruption125% of trip costs150% of trip costs150% of trip costs
Lost or Stolen Baggage$1,500$2,500$2,500
Baggage Delay$250$500$1,000
Medical Expenses$75,000$100,000$150,000
Emergency Evacuation$250,000$500,000$1 million

Pros

  • Specific coverage for cruise vacations
  • CFAR upgrade up to 75% reimbursement
  • Multiple levels of annual and single-trip plans

Cons

  • More expensive premiums on average
  • Longer waiting period for baggage delay benefits

Average Cost

  • $206 per trip

4. Tin Leg Travel Insurance

Our Pick for Customizable Coverage

Tin Leg offers a range of plans with varying levels of coverage, making it easy to find a plan that fits your specific needs. It is known for its affordable premiums and high medical coverage limits.

Coverage Overview

Coverage ItemEconomyGoldPlatinum
Trip Cancellation100% of trip cost100% of trip cost100% of trip cost
Trip Interruption100% of trip cost150% of trip cost150% of trip cost
Lost or Stolen Baggage$500 per person$500 per person$500 per person
Baggage Delay$200 after 24 hrs$200 after 24 hrs$200 after 24 hrs
Medical Expenses$100,000$500,000$500,000

Pros

  • Affordable premiums
  • Up to 10 add-on choices available
  • High medical limits

Cons

  • Add-on availability varies by plan
  • Lower travel delay benefits

Average Cost

  • $196 per trip

5. Berkshire Hathaway Travel Protection

Our Pick for Luxury Travelers

Berkshire Hathaway offers specialized travel insurance plans, including coverage for high-value trips. It is ideal for luxury travelers looking for comprehensive protection.

Coverage Overview

Coverage ItemExactCare ExtraLuxuryCareExactCare
Trip Cancellation100% of trip costs100% of trip costs100% of trip costs
Trip Interruption150% of trip costs150% of trip costs150% of trip costs
Lost or Stolen Baggage$500$2,500$1,000
Baggage Delay$150$500$200
Medical Expenses$50,000$100,000$25,000

Pros

  • High trip cost coverage up to $100,000
  • Multiple specialized plans
  • High coverage for lost luggage

Cons

  • Lower medical emergency coverage
  • Baggage delay coverage starts after 12 hours

Average Cost

  • $137 per trip

6. Seven Corners Travel Insurance

Our Pick for International Travelers

Seven Corners offers a range of annual and single-trip plans, ideal for frequent international travelers. It provides high medical coverage and 24/7 travel assistance worldwide.

Coverage Overview

Coverage ItemRoundTrip BasicRoundTrip Choice
Trip Cancellation100% of trip costs100% of trip costs
Trip Interruption100% of trip costs150% of trip costs
Lost or Stolen Baggage$500$2,500
Baggage Delay$100$100
Medical Expenses$100,000$500,000
Emergency Evacuation$250,000$1 million

Pros

  • Unlimited trips on annual plans
  • Covers international student visas
  • Trip delay benefits start after 6 hours

Cons

  • Lowest-priced plan offers secondary medical coverage
  • Limited political evacuation coverage

Average Cost

  • $206 per trip

7. AIG Travel Guard

Our Pick for Families

AIG Travel Guard offers comprehensive coverage for families, including free coverage for one child under 17 with each adult policy. It provides extensive coverage options and generous group travel discounts.

Coverage Overview

Coverage ItemEssential PlanPreferred PlanDeluxe Plan
Trip Cancellation100% of trip cost100% of trip cost100% of trip cost
Trip Interruption100% of trip cost150% of trip cost150% of trip cost
Lost or Stolen Baggage$750$1,000$2,500
Baggage Delay$200$300$500
Medical Expenses$15,000$50,000$100,000
Emergency Evacuation$150,000$500,000$1 million

Pros

  • Includes one child under 17 with adult policy
  • High medical evacuation limits
  • Immediate coverage for last-minute trips

Cons

– Higher premiums on average

CFAR coverage limited to 50%

Average Cost

  • $237 per trip

8. Trawick International

Our Pick for College Students

Trawick offers travel insurance plans tailored for students studying abroad. It provides essential coverage for medical evacuations and meets various international visa requirements.

Coverage Overview

Coverage ItemSafe Travels JourneySafe Travels VoyagerSafe Travels First Class
Trip Cancellation100% of trip cost100% of trip cost100% of trip cost
Trip Interruption125% of trip cost150% of trip cost150% of trip cost
Lost or Stolen Baggage$2,000$2,500$2,000
Baggage Delay$400 after 12 hrs$600 after 8 hrs$400 after 12 hrs
Medical Expenses$150,000$250,000$150,000
Emergency Evacuation$500,000$1 million$500,000

Pros

  • Multiple student-specific plans
  • Annual trip cancellation plans available
  • Covers various international visa requirements

Cons

  • Scholar policy only covers medical evacuations
  • No student-specific coverage add-ons

Average Cost

  • $180 per trip

9. Generali Global Assistance

Our Pick for Emergency Assistance

Generali offers comprehensive travel insurance with 24/7 concierge emergency assistance. It is ideal for travelers needing robust support during emergencies, including multilingual assistance.

Coverage Overview

Coverage ItemStandard PlanPreferred PlanPremium Plan
Trip Cancellation100% of trip costs100% of trip costs100% of trip costs
Trip Interruption125% of trip costs150% of trip costs175% of trip costs
Lost or Stolen Baggage$1,000$1,500$2,000
Baggage Delay$300$500
Medical Expenses$50,000$150,000$250,000
Emergency Evacuation$250,000$500,000$1 million

Pros

  • 24/7 concierge emergency assistance
  • No dental sub-maximum under medical coverage
  • Up to 175% trip interruption coverage

Cons

  • Less delay compensation than other providers
  • CFAR coverage capped at 60%

Average Cost

  • $201 per trip

10. Travel Insured International

Our Pick for Well-Rounded Coverage

Travel Insured International offers comprehensive coverage with a variety of optional add-ons, making it a well-rounded choice for diverse travel needs. It includes essential protections and additional perks.

Coverage Overview

Coverage ItemWorldwide Trip Protector
Trip Cancellation100% of trip costs
Trip Interruption150% of trip costs
Lost or Stolen Baggage$1,000
Baggage Delay$200
Medical Expenses$100,000
Emergency Evacuation$1 million

Pros

  • Extensive add-ons, including pet kennel and rental car coverage
  • Political, security, and natural disaster evacuation coverage
  • 24/7 emergency assistance and concierge services

Cons

  • No pre-existing condition coverage waiver
  • Lower travel delay coverage compared to competitors

Average Cost

  • $199 per trip

Comparison Table

CompanyTrip CancellationTrip InterruptionLost BaggageBaggage DelayMedical ExpensesEvacuationAverage CostBBB Rating
Faye100%150%$2,000$200$250,000$500,000$297.87Not rated
Travelex100%150%$1,000$200$50,000$500,000$242A+
Nationwide100%150%$2,500$1,000$150,000$1 million$206A+
Tin Leg100%150%$500$200$500,000$500,000$196Not rated
Berkshire Hathaway100%150%$2,500$500$100,000$1 million$137A+
Seven Corners100%150%$2,500$100$500,000$1 million$206A+
AIG Travel Guard100%150%$2,500$500$100,000$1 million$237A+
Trawick International100%150%$2,500$600$250,000$1 million$180B
Generali Global Assistance100%175%$2,000$500$250,000$1 million$201A+
Travel Insured International100%150%$1,000$200$100,000$1 million$199A+

Choosing the right travel insurance company for 2024 depends on your specific travel needs and preferences. Whether you’re looking for comprehensive coverage, affordable premiums, or specialized plans for cruises or student travel, the top 10 travel insurance companies listed here offer a variety of options to ensure you are protected during your travels. By carefully considering the pros and cons, coverage details, and costs associated with each insurer, you can make an informed decision to secure the best possible travel insurance for your next adventure.

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blacktether

blacktether

Auther, a distinguished professional with a unique blend of medical and business expertise, holds a Bachelor of Ayurvedic Medicine and Surgery (BAMS) degree and an MBA. She excels as an owner, writer, financial expert, financial advisor, and administrative business manager. Her multifaceted career highlights her exceptional ability to integrate healthcare knowledge with financial acumen, making her a versatile and influential figure in her field. Her contributions span across various domains, showcasing her commitment to excellence and innovation in both medicine and business management. Auther focusing various financial needs of USA, Canada and India.
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