Best Travel Insurance Companies of 2023

Planning an upcoming trip can be exciting, but it’s essential to consider travel insurance for added protection. You never know what unexpected events might occur during your journey, so having reliable coverage can provide peace of mind.

With 53 travel insurance plans and 42 policy features on the market, finding the best travel insurance can feel overwhelming. However, our team of experienced insurance experts has taken the time to thoroughly analyze these options, narrowing down the top choices for you.

Discovering the best travel insurance plans doesn’t have to be a daunting task. Let our experts guide you through the process, ensuring you get the coverage you need at a price you can afford. Feel confident and secure as you embark on your travel adventures with the right insurance in your corner.

Compare the best travel insurance plans of 2023

COMPANYTOP-SCORING PLANMEDICAL BENEFITS PER PERSONEVACUATION LIMITS PER PERSONOUR RATING
TravelSafeClassic$100,000$1 million5.0 stars
Travel InsuredWorldwide Trip Protector$100,000$1 million5.0 stars
WorldTripsAtlas Journey Preferred$100,000$1 million5.0 stars
AXA Assistance USAPlatinum$250,000$1 million4.5 stars
NationwideCruise Choice$100,000$500,0004.5 stars
NationwideCruise Luxury$150,000$1 million4.5 stars
Seven CornersRoundTrip Choice$500,000$1 million4.5 stars
Arch RoamRightPro Plus$50,000$500,0004.0 stars
Berkshire Hathaway Travel ProtectionLuxuryCare$100,000$1 million4.0 stars
Cat 70Travel Plan$500,000$500,0004.0 stars
Generali Global AssistancePremium$250,000$1 million4.0 stars
HTH WorldwideTripProtector Classic$250,000$1 million4.0 stars
IMGiTravelInsured Travel SE$250,000$500,0004.0 stars
IMGiTravelInsured Travel LX$500,000$1 million4.0 stars
John Hancock Insurance AgencySilver$100,000$500,0004.0 stars
Tin LegAdventure$100,000$1 million4.0 stars
Tin LegGold$500,000$500,0004.0 stars
TravelexTravel Select$50,000$500,0004.0 stars
Trawick InternationalSafe Travels First Class$150,000$1 million4.0 stars
USI AffinityRuby$250,000$500,0004.0 stars
GoReadyChoice$50,000$250,0003.5 stars

Factors we considered when evaluating travel insurance

Our team of insurance experts conducted a comprehensive analysis to identify the most suitable travel insurance options. Key factors considered included:

  1. Cost: We assessed the affordability of various insurance plans, ensuring they fit within a reasonable budget.
  2. Medical Expense Coverage Limit: Analyzing the maximum coverage offered for medical expenses, guaranteeing ample protection during emergencies.
  3. Medical Evacuation Coverage Limit: Evaluating the extent of coverage for medical evacuations, crucial for unforeseen medical situations.
  4. Availability of “Cancel for Any Reason” Upgrade: Checking if the insurance plan provided the flexibility to cancel for any reason, offering added peace of mind.
  5. Trip Interruption Reimbursement (150% or more): Ensuring the insurance plan covered trip interruptions at a generous reimbursement rate.
  6. Travel Delay Waiting Time: Assessing the waiting time required for travel delays to activate coverage, minimizing inconveniences.
  7. Baggage Delay Waiting Time: Examining the waiting time for baggage delays, ensuring prompt assistance during such occurrences.
  8. Pre-existing Medical Condition Exclusion Waiver: Checking for the availability of waivers, which could be crucial for individuals with pre-existing medical conditions.
  9. Non-Medical Evacuation Coverage: Evaluating coverage options for non-medical evacuations, relevant for unexpected situations.
  10. Coverage for Work-Related Reasons: Analyzing whether the insurance plan covered cancellations or interruptions due to work-related reasons.
  11. Employment Layoff Coverage: Checking for coverage in case of employment layoffs, safeguarding travelers from unexpected job loss.

What is travel insurance?

A comprehensive travel insurance plan is essential for any trip as it combines various types of coverage, each with its own limits. These coverages work together to provide you with financial protection during your travels.

To guarantee that you are well-protected financially throughout your journey, it is crucial to include the following types of coverage in your travel insurance plan:

  1. Trip cancellation insurance: This coverage helps reimburse you for pre-paid and non-refundable trip expenses if you have to cancel your trip for a covered reason.
  2. Travel delay insurance: If your trip gets delayed due to certain covered reasons, this coverage will compensate you for additional expenses like accommodation and meals.
  3. Trip interruption insurance: In the unfortunate event that your trip is interrupted and you have to return home early, this coverage ensures you are reimbursed for the unused portion of your trip and additional expenses.
  4. Travel medical insurance: This coverage is vital, especially when traveling abroad, as it takes care of medical expenses for illness or injury during your trip.
  5. Emergency medical evacuation coverage: If you face a medical emergency that requires immediate evacuation to the nearest suitable medical facility, this coverage will handle the associated expenses.
  6. Baggage delay coverage: If your baggage gets delayed by the airline, this coverage provides reimbursement for essential items you may need to purchase during the delay.
  7. Baggage loss and personal effects coverage: In the unfortunate event of baggage loss or theft, this coverage will help you recover the value of your belongings.
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Having these various types of coverage in your travel insurance plan ensures you can travel with peace of mind, knowing you are protected against unforeseen circumstances that may arise during your journey.

How much travel insurance should I buy?

Travel insurance companies typically provide multiple plans with varying maximum limits. The coverage limits determine the cost of the travel insurance, meaning higher limits translate to higher premiums.

For international travel, Squaremouth, a travel insurance comparison site, suggests the following coverage limits:

  • Emergency medical coverage: A minimum of $50,000.
  • Medical evacuation coverage: A minimum of $100,000.

However, if your travel involves a cruise or a remote destination, Squaremouth recommends higher coverage limits:

  • Emergency medical coverage: At least $100,000.
  • Medical evacuation coverage: At least $250,000.

During the evaluation of travel insurance plans, our team of insurance analysts highly prioritized plans that offer at least $250,000 in emergency medical coverage and a minimum of $500,000 in medical evacuation coverage. These higher limits can provide better peace of mind during your trip, especially in case of unforeseen emergencies.

Is travel insurance worth it?

Travel insurance can prove to be a wise investment, particularly if you’ve arranged an expensive trip that is nonrefundable. Additionally, it holds value if you anticipate requiring medical coverage while at your destination.

James Clark, who represents Squaremouth as a spokesperson, highlights that a majority of travel insurance claims arise from cancellations, delays, and medical emergencies. These concerns weigh heavily on travelers, prompting them to opt for travel insurance.

In 2022, travel delay emerged as the most common claim, accounting for slightly over 24% of all claims. Among the top five most frequent claims last year were emergency medical (21.73%), trip cancellation (18.99%), trip interruption (18.48%), and baggage delay (4.98%).

It’s worth noting that your existing credit card and health insurance might offer some coverage for your travels. However, if they don’t fully meet your needs, you’ll find numerous travel insurance companies competing to provide you with the suitable policy.

What does travel insurance cover?

Travel insurance provides coverage for various aspects of your trip, offering financial protection for both anticipated and unforeseen situations. These can occur before or during your journey. As you explore different options, you’ll notice that coverage may differ among insurance companies and policies. Take the time to compare and find the best plan that suits your specific needs.

When it comes to the problems covered by travel insurance, they can include circumstances such as bankruptcy of your travel company, be it an airline or a tour operator. You’ll also find protection against adverse weather conditions, delayed or lost luggage, and instances where you need to cut your trip short due to family illness or death.

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In case you fall ill during your trip and require medical attention or even medical evacuation, your travel insurance can come to the rescue. Moreover, it can provide coverage in situations like jury duty, travel delays, missed connections, terrorism, theft of personal belongings, and even unexpected job loss.

Remember, most travel insurance companies offer a free look period, typically ranging from 10 to 21 days after purchasing the policy. This allows you to thoroughly review the plan’s coverage and exclusions. If it doesn’t meet your requirements, you can request a full refund during this period. So, take advantage of this time to make an informed decision about your travel insurance.

Does travel insurance cover rental cars?

Travel insurance for rental car damage can be added to various travel insurance policies. By doing so, you ensure coverage for any damages that may occur to your rental car. However, it’s important to note that this coverage does not extend to liability or damages to other vehicles involved.

If you’re looking for top-rated plans, all the 5-star options we offer include the choice of adding rental car damage and theft coverage. Before finalizing your policy, make sure to carefully review its terms and conditions to understand any limitations or exclusions that may apply.

How much is travel insurance?

COST OF TRIPAVERAGE COST TO INSURE% OF TRIP EXPENSE
$1,000$616%
$2,500$1205%
$5,000$2285%
$10,000$5125%
$20,000$1,2046%
$30,000$1,8486%
$50,000$3,0916%

The cost of travel insurance depends on several factors, such as the overall expense of your trip, the extent of coverage provided by the insurance plan, and the ages of the individuals being covered.

Factors like trip cost, coverage benefits, and age play significant roles in determining the price of travel insurance. The more expensive the trip and the more extensive the coverage, the higher the insurance cost will likely be.

Average travel insurance cost per trip

TRAVEL INSURANCE PLANAVERAGE COST PER TRIP
GoReady Choice$291
Trawick International Safe Travels First Class$294
WorldTrips Atlas Journey Preferred$316
Nationwide Cruise Choice$330
Travel Insured Worldwide Trip Protector$336
John Hancock Insurance Agency Silver$346
IMG iTravelInsured Travel SE$351
HTH Travel Insurance TripProtector Classic$353
Cat 70 Travel Plan$360
Tin Leg Gold$360
Arch RoamRight Pro Plus$361
Travelex Travel Select$363
USI Affinity Ruby$366
TravelSafe Classic$384
Nationwide Cruise Luxury$393
AXA Assistance USA Platinum$409
Generali Global Assistance Premium$419
Seven Corners RoundTrip Choice$422
Tin Leg Adventure$629
Berkshire Hathaway Travel Protection LuxuryCare$683
IMG iTravelInsured Travel LX$828

How travel insurance works

According to Clark, when travelers face expenses related to medical care or emergencies, they are typically expected to cover the costs upfront and then file a reimbursement claim. This process allows them to get their money back after the necessary paperwork is submitted.

In certain medical situations, however, the responsibility for payment may fall on the provider. In such cases, the provider may need to pre-authorize the payment to ensure that the policyholder receives the required treatment promptly and without delay.

Clark emphasizes that pre-authorization for payment is particularly crucial for medical care and emergency evacuations. Each situation is unique, and providers handle these cases individually, evaluating the circumstances and making decisions on a case-by-case basis. This approach ensures personalized and appropriate responses for every traveler’s specific needs.

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How to get travel insurance

When purchasing travel insurance, you will be required to complete an online application that includes essential details about yourself and your trip. This information typically comprises your name, age, permanent address, destination, travel dates, and the total cost of the trip per person. Fortunately, the application process is straightforward, enabling you to receive quotes from various insurance companies effortlessly.

For added convenience, you have another option to obtain multiple quotes with just one application. Using a travel insurance comparison website, such as Squaremouth, you can submit your information once and receive quotes from various insurers. This streamlines the process and helps you find the best coverage for your travels without having to approach each company individually.

How to choose the right travel insurance policy


When shopping for travel insurance, it’s essential to prioritize the coverages that suit your needs best. One critical aspect to consider is travel medical insurance, especially if you’re going abroad. It should have a high limit to cover medical expenses such as doctor visits, hospital bills, ambulance services, X-rays, and medications. This is particularly important for seniors since Medicare usually doesn’t provide health care coverage outside of the U.S.

For those planning trips to remote destinations, emergency medical evacuation coverage is crucial. Squaremouth recommends considering coverage between $50,000 to $100,000 for most trips and increasing it to $250,000 for travel to very remote locations.

Besides choosing the right coverages, you should also pay attention to common exclusions in travel insurance policies. Some plans exclude coverage for adventure sports like skiing and scuba diving. In such cases, you may need to find a specialized travel insurance company like World Nomads that covers adventure sports trips.

Another important exclusion to keep in mind is named storms, particularly hurricanes. If a hurricane is already named before you purchase your travel insurance, it’s too late to buy coverage and cancel your trip due to the storm.

Normal pregnancy is typically not covered by travel insurance. If you become pregnant after purchasing your travel insurance, coverage may be available for pregnancy-related issues, but you’ll need medical proof that the pregnancy started after the policy purchase.

Pre-existing medical conditions are another crucial consideration. Many travel insurance plans have look-back periods, which range from 60 to 180 days before you bought the policy. If you had symptoms or received medical treatment during that time, your claim might be denied if your condition flares up while traveling. However, you can often obtain a pre-existing medical condition exclusion waiver within 14 to 21 days of making your first trip deposit, provided you are medically fit to travel when buying the policy. Some other conditions may also apply to qualify for the waiver, such as insuring the full value of your trip.

An easier way to get multiple quotes is by using a travel insurance comparison site like Squaremouth, where you can submit a single application online and receive various quotes.

When to buy travel insurance

When it comes to travel insurance, the ideal time to purchase it is right after you’ve made your first nonrefundable travel payment. Whether you’re booking a plane ticket, reserving a hotel stay, planning a cruise, or arranging an excursion, having your policy in place before any unforeseen events occur is essential. Interestingly, buying travel insurance well in advance doesn’t come with any extra cost, and it provides coverage for an extended period.

Clark, an expert in the field, recommends obtaining travel insurance right at the time of your initial trip payment to ensure peace of mind for travelers. This coverage protects against various unexpected incidents like medical emergencies, inclement weather, natural disasters, and other disruptions. With this safety net in place, travelers can approach their journeys with reduced worry and increased confidence.

Although purchasing travel insurance before booking anything might seem challenging, Clark highlights that you can still buy a policy and make modifications as you finalize your travel arrangements. This flexibility allows you to update travel dates or add expenses to the insurance policy based on your evolving plans.

Where to buy travel insurance

Travel insurance can be obtained from various sources, including numerous travel insurance companies. Additionally, it is possible to purchase travel insurance through alternative avenues like travel agents, travel insurance brokers, airlines, cruise lines, hotels, and rental car companies, among others, if you have booked a ticket with them.

To facilitate a thorough comparison of coverage options and pricing for your trip, consider using a travel insurance marketplace that provides quotes for multiple policies. While purchasing a policy directly from a travel provider may seem convenient, it might not necessarily meet all your specific needs and requirements.

Travel experts advise against assuming that the insurance policy offered by airlines will cover every aspect of your trip. For instance, if you plan to engage in activities like scuba diving while heading to the Caribbean, the airline’s policy might not provide adequate coverage. By exploring other policy providers, you increase the chances of finding a policy that caters to all your travel requirements.

Flight insurance, which may be offered in collaboration with travel insurance providers like AIG or Allianz, often covers travel delays and cancellations. However, it’s important to note that such insurance might not provide sufficient protection in case you fall sick during your journey. Hence, it is crucial for travelers to thoroughly read and understand the policy’s fine print before making a purchase to ensure they are well-informed about the coverage offered.

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