Best Travel Insurance Companies of December 2023

Our team vetted 15 companies and narrowed our top picks down to nine insurers, including Seven Corners, Generali Global Assistance and World Nomads. To do so, we read the fine print on policies and compared coverage options and prices. This helped us determine which company stood out from the rest by offering services that may appeal to particular groups.

Money's Main Takeaways

• Seven Corners offers the best travel insurance for larger groups
• Adventurous travelers will get the best coverage for high-risk sports from World Nomads
• TravelInsured.com is best to compare multiple policies in one place

In these unpredictable times, travel insurance is an essential investment for any traveler. Whether you’re going on a trip you’ve planned for years or an impromptu adventure to one of the Best Places to Travel in 2023, travel insurance gives you peace of mind.

Here are the nine best travel insurance companies of 2023 so you can protect yourself, your finances and your belongings while abroad.

Our Top Picks for the Best Travel Insurance

• Seven Corners – Best for Large Groups
• Generali Global Assistance – Best for Emergency Support Services
• World Nomads – Best for Adventure Sports Coverage
• Nationwide – Best Cruise Travel Insurance
• Travelex – Best for Families with Children
• Allianz Travel – Best for Business Travel
• AIG Travel Guard – Best for Add-Ons
• HTH Travel Insurance – Best for Long-Term International Travel Insurance
• TravelInsurance.com – Best for Comparing Travel Insurance Quotes

Best Travel Insurance Reviews

Why we chose it: We chose Seven Corners as the best travel insurance for large groups because it insures parties of 10 or more travelers through comprehensive policies that cover medical expenses and evacuations.

Seven Corners’ simple and budget-friendly Trip Protection Choice plan covers trip cancellation, interruption or delays for specific reasons, including COVID-19 for groups of 10 or more. Its emergency medical protection goes up to $500,000 and offers up to $1,000,000 for medical evacuation and repatriation of remains.

In addition to its group trip plans, Seven Corners has three travel medical plan tiers with comprehensive medical coverage for emergency room visits, hospital room and board, and onset of pre-existing medical conditions, among others.

These plans include 24/7 multilingual customer service to help with emergency travel arrangements, medical evacuations and with locating the nearest embassy or consulate.

Read Seven Corners Travel Insurance Review

Why we chose it: Generali Global Assistance is our choice for the best travel insurance for emergency support services because its policies include telemedicine, concierge services and identity theft resolution assistance.

All of Generali’s policies include 24-Hour Travel Support, which can provide immediate assistance for problems that might arise during a trip:

• Medical emergencies
• Identity theft resolution
• Emergency cash transfer
• Replacing lost or stolen medication
• Locating lost or stolen items

Travelers can choose between three plans — Standard, Preferred and Premium — that cover trip cancellation, trip interruption, travel delay, and baggage damage, loss or theft. Each plan also covers medical and dental emergencies up to specific payout limits:

• Standard: up to $50,000 per person
• Preferred: up to $150,000 per person
• Premium: up to $250,000 per person

Both its Preferred and Premium plan include trip cancellation or trip interruption coverage in the event that a travel supplier — say, a cruise company, hotel or rental car company — becomes financially insolvent and can no longer offer its services.

Another highlight of Generali Insurance is its online claims process, which lets you file a claim and monitor its status while it’s being resolved.

Read Generali Global Assistance Travel Insurance Review

Why we chose it: World Nomads is our top pick as the best travel insurance for adventure sports coverage because, unlike most travel insurance companies, its policies include coverage for over 150+ sport and adventure activities.

While most travel insurance companies shy away from covering adventure sports and other off-the-beaten-path activities, WorldNomads offers policies specifically tailored to more adventurous travelers.

Its Standard and Explorer plans cover scuba diving, skiing, surfing and 150+ other sports and activities. Both plans include $100,000 in coverage for accidents and illnesses and 24/7 emergency support to help you find local physicians or medical facilities.

• Standard: Covers accidents and illnesses, emergency evacuation, trip cancellation, trip interruption, trip delay, accidental death and lost luggage or theft.

• Explorer: Increases the coverage limits of each benefit and adds $35K in rental car damage coverage.

Most travel insurance companies don't let you purchase coverage or extend it during the trip, but World Nomads offers a rare alternative. Its "Buy While Traveling" policy offers insurance to those who didn't buy a policy before their trip and allows travelers to extend their insurance coverage if they wish to keep exploring.

Read World Nomads Travel Insurance Review

Why we chose it: We picked Nationwide as the best travel insurance for cruises because it offers travel insurance plans specifically geared towards cruise travel.

Nationwide has three cruise insurance tiers (Universal, Choice and Luxury) that fit any budget and insurance needs.

Its emergency medical coverage starts at $75,000 and all three include “cancel for work reasons” coverage, $500 for return-home-early benefit, $200 for shipboard service disruption, and $25,000 for non-medical evacuations.

Among the covered reasons for cancellation and interruption are inclement weather, extension of school schedule and work-related emergency issues.

Nationwide also has two single trip plans: Essential and Prime. In addition to industry-standard trip protection basics, these plans offer above-average medical coverage starting at $75,000 and a “cancel for any reason” add-on that reimburses 75% of non-refundable trip costs.

Travelers can add a pre-existing conditions waiver and coverage in the case of a travel supplier’s financial default (as an upgrade to Essential and included in Prime).

Read Nationwide Travel Insurance Review

Why we chose it: Travelex is our choice as the best travel insurance for families with children because it offers two plans that cover kids under 17 at no additional cost.

Travelex Insurance Service features two main plans for international trips, Travel Basic and Travel Select — plus a Travel America plan for trips in the USA. Both the Travel Select and Travel America include children 17 and under in its pricing.

The Travel Basic is an affordable plan perfect for students, backpackers, small groups or those on a budget. These plans cover trip cancellation and interruption at 100% of trip cost and offer up to $2,000 for trip delays or missed connections.

Travel Select allows travelers to customize their plans with upgrades such as additional medical benefits, a “cancel for any reason” option, car rental collision insurance and adventure sports coverage. Travelex also offers a pre-existing condition waiver when you buy the Travel Select plan within 15 days of the first trip payment.

Read Travelex Insurance Services Review

Why we chose it: Allianz Travel is our choice for the best travel insurance for business trips because its comprehensive annual plan is ideal for frequent flyers, whether they be traveling for business or pleasure. It also covers business equipment against theft, loss, damage and delay.

Allianz Travel Insurance sells 10 distinct plans offering a wide range of options from basic cancellation benefits to a multi-trip protection. These plans include a 24-hour multilingual assistance hotline and the TravelSmart App which gives quick access to travel advisories, local medical facilities, mobile claims filing and much more.

For frequent travelers, Allianz’s AllTrips Executive plan is designed to make business trips a whole lot easier. This plan covers:

• Trip cancellation

• Trip interruption

• Emergency medical and transportation

• Rental car damage and theft

• Business equipment coverage (for lost, stolen, damaged or delayed equipment)

Another one of Allianz’ highlights is its lack of age restrictions (most other insurers limit coverage by age). Additionally, some of its plans cover kids 17 and under traveling with a parent or grandparent.

Read Allianz Travel Insurance Review

Why we chose it: We chose AIG Travel Guard as the best travel insurance for add-ons because it offers travelers a wide variety of coverage options with which to customize their plan.

AIG Travel Guard has over 30 years of experience providing travel insurance to millions of travelers. These customers have had access to unique services such as MedEvac and Bag Trak®.

AIG Travel Guard’s most popular plan, the Preferred offers:

• Up to $500,000 for emergency evacuation and repatriation of remains

• Trip cancellation and interruption

• Reimbursement of up to 50% of your trip cost if you were to change your trip dates

Travelers can also add unique options such as a pet bundle, a wedding bundle (for canceled weddings) and an inconvenience bundle in the event any attractions you absolutely had to see are closed.

Another of AIG's specialized benefits is lodging expense coverage. This benefit is for travelers who test positive to COVID-19 and are required to remain abroad until they present a negative test result.

For those last-minute trips, AIG travel guard has the Pack N’ GO Plan that includes post-departure coverage and an exclusive 24-hour emergency travel assistance service.

Read AIG Travel Insurance Review

Why we chose it: HTH Travel Insurance stands out as the best travel insurance for long-term international travel because it offers specialty coverage for expats and students.

HTH Travel Insurance's Xplorer Plan offers comprehensive medical insurance for individuals and families traveling outside their home country for at least three months out of the year. This plan features:

• No deductible for office visits

• No waiting periods for preventive care services

• No pre-existing condition waiting period, provided the insured has proof of prior creditable coverage

HTH Travel Insurance also offers international health insurance for students with flexible trip duration options. This plan has an unlimited annual and lifetime medical care maximum, and includes contraceptive services, supplies and prescriptions. In addition to unlimited telemedicine services, the plan covers medically necessary COVID-19 testing and treatment.

Other global health and safety services available through HTH Travel Insurance include 24/7 call assistance, access to elite international doctors and hospitals, and translated medical terms.

Read HTH Worldwide Travel Insurance Review

Why we chose it: We picked TravelInsurance.com as the best travel insurance for comparing quotes because it allows users to quickly and easily view plan details and prices from some of the top travel insurance providers in the industry.

TravelInsurance.com is a marketplace that simplifies the process of choosing an insurance provider by connecting users with top-rated carriers and breaking down coverage options in an easy-to-understand way.

This marketplace makes it simple for travelers to enter their trip information and receive quotes tailored to the trip cost, duration, and age of travelers. The results page presents the basic information on the coverage, reviews, ratings and a link to the COVID-19 policy FAQs of each provider.

TravelInsurance.com also allows users to compare the policies in a streamlined table.

Read TravelInsurance.com Review

Other travel insurance companies we considered

In this section, we feature highly popular travel insurance companies that didn't make our top picks. Some offer very few add-on benefits and others have low medical expense coverage compared to competitors.

The table below highlights the highest coverage available for each type of benefit. Check out the full reviews to learn more about each provider:

• Tin Leg Travel Insurance Review
• TravelSafe Insurance Review
• AXA Travel Insurance Review
• Faye Travel Insurance Review
• Trawick International insurance review
• John Hancock travel insurance review
• Berkshire Hathaway Travel Protection

Travel Insurance Guide

This guide covers what travel insurance is, how it works and how to choose the best type of travel insurance coverage for your trip.

• What is travel insurance?
• What does travel insurance cover?
• What does travel insurance not cover?
• How to get travel insurance
• How to choose the right travel insurance policy
• How much is travel insurance?
• How much travel insurance do I need?
• Credit card travel insurance
• Are there location restrictions when it comes to travel insurance?
• Travel insurance companies that cover COVID-19

What is travel insurance?

Travel insurance, also known as trip insurance or trip protection, reimburses you if you need to cancel your trip or interrupt it early. It can also pay for lost or stolen baggage and medical expenses if you get sick or have an accident during the trip.

International travel insurance is the most sought-after type of policy, but providers also sell domestic coverage and business travel insurance for those who need it. Frequent flyers or students enrolled in study abroad programs can also buy long-term travel insurance in the form of annual or multi-trip plans.

Comprehensive travel insurance can be worth it, especially if you're traveling internationally and have paid upfront for non-refundable expenses. The same goes for prepaid cruises or vacations for which you've booked non-refundable tours, activities or day trips. Buying travel insurance can also be a good idea if you're traveling to a destination that has seasonal weather issues, such as hurricanes and typhoons.

Cancel for any reason travel insurance

“Cancel for any reason (CFAR)” coverage is a policy upgrade that provides a partial refund (typically 50% to 75% of prepaid, non-refundable expenses) if you have to cancel your trip — regardless of what caused your change of heart. In fact, one of the covered reasons is “fear of travel,” which is excluded under a basic travel insurance policy.

Knowing when to buy travel insurance is key if you want this type of coverage. This policy must be purchased within 14 to 21 days of the first trip booking and may increase your trip insurance bill by about 50% upon purchase.

Among the companies that offer CFAR trip insurance are AIG Travel Guard, Faye Travel Insurance, IMG travel insurance, C&F Travel Insured, Generali Global Assistance, Arch RoamRight, Seven Corners Travel, TravelSafe, Trawick International, USI Travel Affinity Insurance Services, John Hancock, HTH Worldwide Travel Insurance and Berkshire Hathaway.

Trip interruption insurance

Trip interruption coverage will pay if you need to cut your trip short and go home early for specific reasons. The insurance company will reimburse you for the unused portion of the trip and help you with additional expenses you incur to get home.

These expenses will only be covered, however, if you cancel due to one of the reasons covered by the policy. Examples of covered reasons are the serious illness or death of the policyholder, another traveler covered by the policy or a close relative. A natural disaster at your destination would typically be covered as well.

What does travel insurance cover?

Travel insurance generally covers a host of common travel issues and mishaps, from accidents to baggage delay.

The following are common trip insurance options and add-ons. Just keep in mind that providers offer different levels of coverage and optional benefits and may even have different names for some of them.

• Trip cancellation insurance: Refunds up to 100% of prepaid, non-refundable travel costs if you cancel an upcoming trip for eligible reasons.

• Trip interruption: Reimburses you for the unused portion of the trip as well as expenses you may incur to get back home. Insurers typically cap reimbursement at 150% of the cost of the interrupted trip.

• Travel delays: Reimburses you (up to your policy limits) if you must incur extra expenses such as meals or lodgings during a flight delay. Insurers may also cover airport delays and any flight change fees necessary to catch up on your travel plans.

• Emergency medical expenses: Travel medical insurance reimburses you for medical expenses incurred during your trip, under certain circumstances. Benefits for medical expenses can range from $15,000 to $50,000. Coverage may apply even if you're pregnant while traveling.

• Emergency medical evacuation: Reimburses you if you need to be evacuated to the nearest medical facility or to a facility in your country of origin. Maximum benefits usually range between $100,000 to $500,000, but can be as high as $1 million.

• Baggage and personal effects: Refunds the cost of replacement items if your luggage is lost or delayed during your trip. You must typically wait between to to six hours for your baggage before you can file a claim. Insurers typically require purchase receipts or a list of items in the luggage, and coverage may be subject to a deductible.

• Worldwide assistance: Most providers offer 24/7 customer service should you need assistance while traveling. This includes 24/7 multilingual medical hotlines that can provide medical advice and refer you to local healthcare services, if necessary.

Popular travel insurance add-ons

If your coverage needs go beyond what a basic travel insurance policy provides, there are a variety of add-ons or riders that allow you to increase benefit limits and cover activities that may be excluded from standard policies.

Common add-ons include:

• Cancel for any reason coverage: This coverage allows you to cancel your travel plans for any reason (you must cancel with the supplier at least 2-3 days before your trip), and get reimbursed for a percentage of your pre-paid travel costs.

• Pre-existing medical condition waiver: To qualify for this waiver, travelers must purchase coverage within a certain number of days after making their initial trip deposit. The company may also evaluate the travelers' medical records to ensure their condition hasn’t changed or worsened in the last 60 to 180 days.

• Rental car insurance: This optional policy covers theft of or damages to a rental car due to causes beyond your control (think collisions, vandalism and weather events). Coverage limits vary by state, and the coverage itself may not be available in every international location. You must also verify whether the rental car company accepts this coverage.

• Adventure sports coverage: This rider covers injuries or losses caused by participating in adventure sports such as skydiving or bungee jumping. Claims that arise from these activities are typically excluded from standard policies. An exception is World Nomads, the best travel insurance for adventure sports.

• Identity theft protection: This optional coverage assists you in notifying creditors, canceling your cards, and getting a replacement for your lost passport, credit card or other important documents.

What does travel insurance not cover?

The most common travel insurance exclusions are:

• Pre-existing medical conditions

• Injuries caused by extreme sports

• Theft/loss of personal items such as electronic devices and jewelry

• Pregnancy-related conditions

• Injuries that happen while you’re intoxicated with drugs or alcohol, even if the intoxicating substance is legal to use at the destination

• Missed flights, where the traveler is at fault

Travel insurance only pays out if you cancel your trip for approved reasons, such as a serious illness or the death of a family member. You'll have to add CFAR coverage to your policy if you want the flexibility to cancel for any other reason.

Finally, keep in mind that trip insurance companies may change their coverage at any time. When the coronavirus pandemic began in 2020, many companies temporarily excluded COVID-19 infections from coverage, and might do so again in the future.

What is a pre-existing condition for travel insurance?

Pre-existing conditions are illnesses or injuries diagnosed by a medical professional before you purchased travel insurance.

Travel insurance providers may define pre-existing conditions differently, so ask your insurer about this, even if you qualify for a pre-existing condition waiver. Misunderstanding the terms and conditions of your policy could lead to your claim being denied.

How much is travel insurance?

The cost of travel insurance can range from 4% to 12% of the total cost of your trip. Your travel insurance policy's final price will depend on your age and travel destination as well as the types of coverage and policy limits you select.

We used the online marketplace Travelinsurance.com to get quotes for a family of four (two adults and two children under 17) taking a trip from New York City to London. Let's say that the family spent $2,200 on four tickets. The cost of insuring all four travelers would range from $90 to a little over $300.

To give you a better idea of the potential cost of trip insurance, we calculated what would be 6% (between 4% and 12%) for trips of varying costs.

How to get travel insurance

You can buy travel insurance after booking a flight. However, it's advisable not to delay obtaining a policy. The longer you wait between booking your trip and purchasing insurance, the greater the chance you'll miss out on valuable benefits like coverage for pre-existing conditions and CFAR upgrades.

The best time to get travel insurance is right after you've booked your trip’s costliest non-refundable expense i.e., flight tickets and lodging.

Read our tips below so you're ready to purchase a policy as soon as you book your flight.

Define your travel insurance needs

To identify how much protection you need, consider your reasons for traveling and how long you'll be away, taking into account who is traveling with you as well as your planned activities.

Business travel insurance is suitable for those who travel frequently for work and need coverage for items like work laptops and phones. Vacationers that booked a cruise may be best served by a specialized policy such as Nationwide's cruise insurance plans, while students in overseas programs should look into long-term plans like Trawick International Insurance for students.

Review the policy limits

Each travel insurance benefit has a specific payout limit, which may or may not be enough for your particular situation. For example, individuals traveling with expensive personal belongings such as cameras or jewelry may want a higher payout limit for personal effects or riders for high-value items.

Check the policy's fine print

Check the policy's fine print before purchasing your policy to ensure that it covers the activities you have planned for your trip, especially if there are recreational sports involved.

Travelers with pre-existing medical conditions should confirm whether those are covered under their policy. If not, they may need supplemental coverage or a different provider.

Take a moment to check if emergency assistance services are available 24/7 and what kind of assistance you can expect should you have a medical emergency or your belongings be stolen. Finally, evaluate the scope of the policy's coverage and check which travel insurance add-ons are available.

Compare travel insurance quotes

We recommend you compare travel insurance plans quotes before making a purchase. If you're traveling on a tight budget, you can still find cheap travel insurance that will cover the essentials such as medical expenses and personal effects.

You can get online quotes from most travel insurance companies and through marketplaces such as InsureMyTrip.com or SquareMouth Travel Insurance.

Read customer reviews

When it comes to insurance, online customer reviews can be tricky. Customers who never file a claim will likely have a different experience than those who do. And even when you've gone through the claim process, your experience may vary depending on the type of claim you file.

In spite of these challenges, word of mouth is still a valuable resource. Ask friends and family for recommendations and look for customer reviews that describe their experience with claims payouts, emergency travel assistance and medical coverage.

How much travel insurance do I need?

Most travel insurance companies offer multiple plans suited for a variety of needs. The most basic plans include only trip cancellation coverage but no post-departure benefits. Premium plans include pre- and post-departure benefits.

Before buying travel insurance, take stock of what losses — if any — you would incur if unforeseen events forced you to cancel the trip in advance of departure. (Check, for example, whether your airline has reinstated cancellation fees as these had been widely suspended for trips booked during the pandemic.)

Then, consider the risk of becoming injured during the trip. That likelihood may well depend on where you're going and what you will be doing. You'll want to purchase additional coverage if you're taking part in adventure sports, as they're usually excluded from most trip insurance policies.

Credit card travel insurance

Many credit cards offer travel protection if you use the card to pay for flights, lodging and other travel expenses.

That being said, we recommend you review the terms and conditions of your credit card travel protection plan before relying solely on its coverage. If you compare credit card travel insurance with travel insurance, you'll see that most credit cards lack crucial benefits such as medical expenses and emergency evacuation coverage.

Read our guide to the best travel credit cards for more information on how your credit card can help you travel smarter.

Are there location restrictions when it comes to travel insurance?

Travel insurance might not cover your visits to certain locations. In fact, most U.S. insurance providers will not cover locations that are currently under a State Department travel advisory or where there is political unrest. Among the countries usually excluded by providers are Russia, Ukraine, Belarus, Iran, Syria, North Korea, Myanmar and Cuba.

Travel insurance that covers COVID-19

While travel insurance providers generally exclude pandemics — influenza, ebola, zika, etc. — coronavirus coverage is now included in most policies. In fact, all of the insurers on our list offer COVID-19 coverage.

A claim related to COVID-19 can fall under medical benefits (you get really sick and need medical attention abroad) or under trip protection (where providers accept COVID-19 infection as a valid reason for cancellation and reimbursement) or both.

Make sure to ask the insurance company what you need to do if you get COVID-19. For instance, carriers generally accept results from an FDA-approved home test but only if the sampling is supervised, usually via telemedicine, by a medical professional.

Does insurance cover COVID-19 testing for travel?

Travel insurance doesn't cover the cost of COVID-19 testing unless the test is directed by a physician. However, some medical insurance plans cover the cost of testing, so check if yours does. Alternatively, low or no-cost COVID testing may be available at a health center near you.

What you can do to protect yourself during your travels

The CDC's COVID-19 wastewater surveillance map currently shows high levels of transmission and this isn't the only respiratory illness to be mindful of this holiday season. Cases of Respiratory Syncytial Virus (RSV) and influenza are also steadily increasing.

Travel insurance will cover these events should you fall ill but, fortunately, there are steps you can take to protect yourself from getting sick in the first place.

The CDC recommends getting the updated COVID-19 booster and this year's flu shot, which are both available to all age groups. The RSV vaccine is currently recommended for the elderly and pregnant people. Experts encourage you to get this protection sooner rather than later, as it takes a few weeks to build the necessary antibodies.

In addition to vaccinations, the CDC recommends the following when community levels of COVID-19 transmission are high. These protections will also keep RSV and flu at bay so you can stay healthy and enjoy time with your loved ones:

• Wear a well-fitting respirator such as a N95, KF94 or KN95. A surgical mask may work but it offers the least protection.

• Gather in open and well-ventilated spaces.

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How We Chose the Best Travel Insurance Companies

We used the following factors to evaluate and compare each company:

• Plans and coverage: We looked for insurers with a variety of plans and the ability to customize the policy with upgrades. We gave special consideration to companies offering unique add-ons, such as extreme sports coverage and coverage for lost gear or equipment.

• Ease of use: We considered how easily you could get a quote and understand the policy information. Most of these companies either offer just a few plans to keep things simple or provide a comparison page where you can quickly spot the differences in each plan.

• Customer service and support: Factors like a 24/7 hotline and an established network of global resources to help in case of an emergency are some of the elements that indicate a company is well-prepared to respond to customer needs. We gave extra points to companies with mobile apps, multiple ways of accessing customer support and added perks like concierge and translation services.

• Reputation: To gauge each company’s reputation, we evaluated factors like customer feedback and ratings, years in business and financial stability as shown by AM Best financial strength rating.

Summary of Money's Best Travel Insurance of December 2023

• Seven Corners – Best for Large Groups
• Generali Global Assistance – Best for Emergency Support Services
• World Nomads – Best for Adventure Sports Coverage
• Nationwide – Best Cruise Travel Insurance
• Travelex – Best for Families with Children
• Allianz Travel – Best for Business Travel
• AIG Travel Guard – Best for Add-Ons
• HTH Travel Insurance – Best for Long-Term International Travel Insurance
• TravelInsurance.com – Best for Comparing Travel Insurance Quotes

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