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.
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 Item | Faye Travel Insurance Coverage |
|---|---|
| Trip Cancellation | Up to 100% of non-refundable trip costs |
| Trip Interruption | Up 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 Expenses | Up to $250,000 (for international trips) |
| Emergency Evacuation | Up 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 Item | Travel Basic | Travel Select | Travel America |
|---|---|---|---|
| Trip Cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip Interruption | 100% of trip costs | 150% of trip costs | 150% 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 Item | Universal Cruise | Choice Cruise | Luxury Cruise |
|---|---|---|---|
| Trip Cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip Interruption | 125% of trip costs | 150% of trip costs | 150% 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 Item | Economy | Gold | Platinum |
|---|---|---|---|
| Trip Cancellation | 100% of trip cost | 100% of trip cost | 100% of trip cost |
| Trip Interruption | 100% of trip cost | 150% of trip cost | 150% 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 Item | ExactCare Extra | LuxuryCare | ExactCare |
|---|---|---|---|
| Trip Cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip Interruption | 150% of trip costs | 150% of trip costs | 150% 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 Item | RoundTrip Basic | RoundTrip Choice |
|---|---|---|
| Trip Cancellation | 100% of trip costs | 100% of trip costs |
| Trip Interruption | 100% of trip costs | 150% 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 Item | Essential Plan | Preferred Plan | Deluxe Plan |
|---|---|---|---|
| Trip Cancellation | 100% of trip cost | 100% of trip cost | 100% of trip cost |
| Trip Interruption | 100% of trip cost | 150% of trip cost | 150% 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 Item | Safe Travels Journey | Safe Travels Voyager | Safe Travels First Class |
|---|---|---|---|
| Trip Cancellation | 100% of trip cost | 100% of trip cost | 100% of trip cost |
| Trip Interruption | 125% of trip cost | 150% of trip cost | 150% 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 Item | Standard Plan | Preferred Plan | Premium Plan |
|---|---|---|---|
| Trip Cancellation | 100% of trip costs | 100% of trip costs | 100% of trip costs |
| Trip Interruption | 125% of trip costs | 150% of trip costs | 175% 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 Item | Worldwide Trip Protector |
|---|---|
| Trip Cancellation | 100% of trip costs |
| Trip Interruption | 150% 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
| Company | Trip Cancellation | Trip Interruption | Lost Baggage | Baggage Delay | Medical Expenses | Evacuation | Average Cost | BBB Rating |
|---|---|---|---|---|---|---|---|---|
| Faye | 100% | 150% | $2,000 | $200 | $250,000 | $500,000 | $297.87 | Not rated |
| Travelex | 100% | 150% | $1,000 | $200 | $50,000 | $500,000 | $242 | A+ |
| Nationwide | 100% | 150% | $2,500 | $1,000 | $150,000 | $1 million | $206 | A+ |
| Tin Leg | 100% | 150% | $500 | $200 | $500,000 | $500,000 | $196 | Not rated |
| Berkshire Hathaway | 100% | 150% | $2,500 | $500 | $100,000 | $1 million | $137 | A+ |
| Seven Corners | 100% | 150% | $2,500 | $100 | $500,000 | $1 million | $206 | A+ |
| AIG Travel Guard | 100% | 150% | $2,500 | $500 | $100,000 | $1 million | $237 | A+ |
| Trawick International | 100% | 150% | $2,500 | $600 | $250,000 | $1 million | $180 | B |
| Generali Global Assistance | 100% | 175% | $2,000 | $500 | $250,000 | $1 million | $201 | A+ |
| Travel Insured International | 100% | 150% | $1,000 | $200 | $100,000 | $1 million | $199 | A+ |
Conclusion
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.
