Traveling can be an exciting and enriching experience, but it’s important to remember that accidents and unexpected events can happen anytime, anywhere. That’s why having travel insurance is crucial for any trip. With so many options out there, it can be difficult to determine which travel insurance company is the best fit for your needs.

Let’s take a closer look at the best travel insurance companies for 2023:

Berkshire Hathaway Travel Protection

If you’re planning a high-value vacation, Berkshire Hathaway’s LuxuryCareTM travel insurance plan might be the ideal choice for you. This plan offers higher insurance limits, covering up to $100,000 worth of nonrefundable trip expenses, such as unexpected cancellations and medical emergencies. What’s more, this plan covers cancellations due to a variety of reasons, including changes to your child’s school calendar or pregnancy.

While Berkshire Hathaway’s travel insurance division is known for its luxury travel insurance plans, they also offer standard travel insurance options and AdrenalineCare adventure travel plans that remove policy exclusions on action sports. Additionally, all of their insurance coverage includes 24/7 travel assistance in the event of an emergency, providing peace of mind while you’re away from home.

Pros:

  • Higher insurance limits, covering up to $100,000 worth of nonrefundable trip expenses
  • Covers cancellations due to a variety of reasons, including changes to your child’s school calendar or pregnancy
  • Includes 24/7 travel assistance in the event of an emergency
  • Offers standard travel insurance options and AdrenalineCare adventure travel plans

Cons:

  • May be more expensive than standard travel insurance plans
  • May have certain restrictions or exclusions based on the specific policy and circumstances of your trip
  • Some travelers may not need the higher insurance limits or coverage for cancellations due to certain reasons

Allianz Global Assistance

Allianz Global Assistance’s executive-oriented plans can be a great choice for travelers who need extra protection for their equipment and want personalized assistance during their trips. Allianz Global Assistance’s executive-focused plans cater to frequent travelers who need coverage for expensive equipment. These plans are designed to provide peace of mind while traveling for business or pleasure.

With the AllTrips Executive plan, customers can enjoy concierge coverage, which offers personalized assistance with itinerary changes and insurance benefits. Allianz Global Assistance also offers a range of other travel insurance options, including annual and single-trip plans. Plus, they provide a 24-hour hotline to help customers deal with any travel-related emergencies.

Pros:

  • Designed specifically for business travelers
  • Includes coverage for business equipment rentals, rental car damage, and lost or stolen commercial property
  • Offers concierge coverage for personalized assistance with itinerary changes and insurance benefits

Cons:

  • May be more expensive than standard travel insurance plans
  • May have certain restrictions or exclusions based on the specific policy and circumstances of your trip
  • Some travelers may not need the extra coverage for business equipment or concierge services

Nationwide Travel Insurance

When it comes to travel insurance, finding coverage that’s specifically tailored to your needs can be challenging. However, Nationwide offers a range of options that include coverage specifically designed for cruises.

With three levels of coverage to choose from, Nationwide’s cruise policies provide protection for ship-specific events like mechanical breakdowns and missed connections. Additionally, every plan includes coverage for trip cancellations and interruptions, baggage delays, missed connections, and emergency accidents and sickness. What’s more, cancellation reasons are flexible and can include work-related cancellations and extensions to your child’s school calendar.

Pros:

  • Offers coverage specifically designed for cruises
  • Provides three levels of coverage to choose from
  • Includes protection for ship-specific events such as mechanical breakdowns or missed connections
  • Offers coverage for trip cancellations and interruptions, baggage delays, missed connections, and emergency accidents and sickness
  • Allows for flexible cancellation reasons, including work-related cancellations and extensions to your child’s school calendar

Cons:

  • May be more expensive than standard travel insurance plans
  • May have certain restrictions or exclusions based on the specific policy and circumstances of your trip
  • Some travelers may not need the extra coverage for ship-specific events or flexible cancellation reasons

Generali Global Assistance

If you’re looking for comprehensive travel insurance coverage with access to a global assistance team, Generali offers a range of plans to suit your needs. In addition to offering support from experts in the event of natural disasters, political unrest, or medical emergencies, Generali’s plans also include unique benefits such as identity theft protection and trip interruption coverage for COVID-19 at no extra cost.

One standout feature of Generali’s plans is the 10-day “free look” period. After purchasing your coverage, you have 10 days to review your plan and ensure that it meets your needs. If you find a better travel protection plan from another insurance company during this period, you can cancel your coverage and receive a full refund.

Pros:

  • Access to a 24/7 global assistance team for support in the event of natural disasters, political unrest, or medical emergencies
  • Unique benefits such as identity theft protection and trip interruption coverage for COVID-19 at no extra cost
  • 10-day “free look” period allows you to review your plan and receive a full refund if you find a better option from another insurance company

Cons:

  • It may not offer as many options for coverage levels as other travel insurance providers
  • Some travelers may find the coverage to be more expensive compared to other options on the market
  • It may not be the best choice for those who are not interested in the specific benefits offered, such as identity theft protection.

Tin Leg Travel Insurance

Tin Leg provides a range of travel insurance plans that can be customized to suit your travel type or destination. They offer various policies, including two affordable options (Basic or Economy), an adventure-specific plan, a U.S.-only plan, and others with higher coverage limits. To help you find the right plan for your trip, Tin Leg’s website provides a useful comparison tool that displays each policy’s coverage side by side.

Additionally, Tin Leg provides 24-hour assistance to travelers in case of emergencies. You can request a quote by submitting your vacation information online, and if you need to file a claim, you can do so via phone, email, or an online submission form.

Pros:

  • Tin Leg offers three different levels of coverage, allowing travelers to choose the policy that best fits their needs.
  • The company’s Zero Complaint Guarantee promises a full refund if a traveler is dissatisfied with their policy within 15 days of purchase.
  • Tin Leg’s 24-hour emergency hotline can provide assistance to travelers who encounter unexpected issues while traveling.

Cons:

  • Tin Leg may not be the most cost-effective option for travelers on a tight budget.
  • The coverage for baggage issues is comparatively less extensive than what other companies offer.

Zurich Travel Insurance

Zurich’s travel insurance plans offer reliable coverage for Emergency Medical, Baggage, and Cancellation. Additionally, mid- and top-tier plans also include some protection against Travel Delay and Scheduled Airline Failure. However, one potential downside is the limited coverage of gadgets.

Unlike other providers, Zurich does not offer extra/extended coverage specifically for items like mobile phones and iPhones, and they are only protected through standard Valuables cover, which may not be sufficient for some travelers.

Pros:

  • Zurich offers Emergency Medical, Baggage and Cancellation coverage on all plans.
  • Mid- and top-tier plans include coverage for Travel Delay and Scheduled Airline Failure.
  • Zurich has a good reputation for customer service and claims handling.

Cons:

  • Zurich’s travel insurance plans may not offer as much coverage for gadgets as some other companies.
  • Some travelers may find Zurich’s policies to be more expensive than other options on the market.
  • Some coverage limits may be lower than what other companies offer.
travel insurance

International Medical Group

International Medical Group (IMG) offers a multi-trip coverage plan that provides worldwide health insurance with high benefits for those who need medical travel insurance. IMG offers plans for both individuals and families, with policies that include up to $8 million in annual medical benefits. One of the unique features of the Global Medical Insurance plan is that you can choose your deductible, with options ranging from as low as $100 to as high as $25,000.

Aside from its travel medical insurance policies, IMG also offers travel insurance for single-trip plans. Another unique benefit is the “interrupted for any reason” add-on coverage that provides CFAR-like benefits if you get sick or injured and need to cut your trip short. With any IMG policy, you can review the coverage for 15 days and cancel if it does not meet your needs.

Pros:

  • Multi-trip coverage plan offers long-term, worldwide health insurance for individuals and families.
  • Policies include up to $8 million in annual medical benefits.
  • Global Medical Insurance plan allows you to choose your own deductible.
  • Interrupted for any reason add-on coverage choice is a unique feature.

Cons:

  • The plans may be more expensive than other options on the market.
  • Some coverage may require prior authorization or pre-existing conditions may not be covered.
  • There may be limited coverage for non-medical benefits such as trip cancellation or baggage loss.

Airbnb Travel Insurance

Airbnb Travel Insurance is an excellent option for travelers who want to ensure their trip is protected. The company’s policies offer a range of benefits that can give you peace of mind, including coverage for trip cancellations and interruptions, emergency medical and dental expenses, and baggage loss and delay coverage. Additionally, if your trip is impacted by COVID-19, Airbnb Travel Insurance offers coverage for cancellations related to the virus.

One of the main advantages of Airbnb Travel Insurance is that their premiums are affordable, making them a great choice for travelers on a budget. Furthermore, their website is user-friendly, making it easy for you to understand their policies and choose the one that best suits your needs.

Pros:

  • Provides coverage for trip cancellation and interruption, emergency medical and dental expenses, and baggage loss and delay.
  • Covers COVID-19-related cancellations, which is especially important in today’s travel landscape.
  • Affordable premiums make it accessible for many travelers.

Cons:

  • Limited coverage is only available for Airbnb bookings, which means it may not be the best option for travelers who book their accommodations elsewhere.
  • Coverage limits may not be high enough for some travelers who need more comprehensive coverage.
  • Some activities may not be covered under the policy, such as extreme sports or adventure activities.

AXA Assistance USA

AXA Assistance offers travel insurance policies that cater to specific leisure activities, such as skiing, golfing or cruising. Their Platinum package provides reimbursement for these activities, such as missed tee times and sports equipment rentals. One of the standout features of their coverage is the $1,500 benefit for missed connections, which can be applied to missed cruise departures. Additionally, their $3,000 delay coverage for lost baggage provides peace of mind, particularly for those traveling with expensive equipment.

AXA Assistance’s policy also includes coverage for COVID-19 and non-medical evacuations up to $100,000. This can be particularly helpful for travelers who are visiting areas known for social or political unrest. While their coverage is tailored to certain activities and has generous benefits, it is important to note that their premiums can be more expensive than other insurance providers.

Pros:

  • AXA Assistance offers a Platinum travel insurance package that includes coverage for special leisure activities like skiing, golfing, or cruises.
  • The $1,500 benefit for missed connections is generous and can be applied to missed cruise departures.
  • The $3,000 delay coverage for lost bags is exceptionally generous, which is beneficial if you travel with expensive equipment.
  • The policy includes coverage for COVID-19 and $100,000 in insurance toward nonmedical evacuations, which can be helpful if you’re traveling to an area of known social or political unrest.

Cons:

  • AXA Assistance is not the most affordable option for travel insurance.
  • The policy’s coverage may not be as comprehensive as other providers for certain benefits like trip cancellation or medical expenses.

Trawick International

When traveling to the United States for a long period of time, having health insurance is crucial. Trawick International is a great choice for those studying abroad in the U.S., offering Collegiate Care plans that provide travel medical coverage. With deductibles as low as $100 and coverage for an entire semester, these plans also cover COVID-19 and provide unlimited benefits for most treatment plans.

However, it’s worth noting that these plans are only available to international residents, not U.S. residents. Trawick also offers evacuation-only coverage for international students and scholars.

Pros:

  • Offers specific travel medical coverage for international students studying in the U.S.
  • Semester-long coverage available with deductibles as low as $100
  • COVID-19 treated like any other illness with unlimited benefits on most plans
  • Evacuation-only coverage available for international students and scholars

Cons:

  • Collegiate Care plans not available for U.S. residents
  • No student-specific coverage add-ons beyond Collegiate Care plans

AIG Travel Guard

AIG Travel Guard is a good option for families looking to protect multiple people while traveling, with coverage limitations up to $1 million. The company offers three travel plans that include complimentary family coverage, meaning one child under the age of 17 is included with every adult enrolled in the plan. This can potentially cut your insurance expenses in half if you are traveling as a family.

AIG’s travel insurance policies offer higher-than-average coverage limits on missed connections, baggage delays, and emergency evacuation expenses. The company also offers several unique upgrades that can be especially beneficial for family travel, such as specialized group policies for destination weddings.

Pros:

  • Complimentary family coverage for one child with each adult enrolled in the plan
  • Higher coverage limits on missed connections, baggage delays, and emergency evacuation expenses
  • Specialized group policies available for destination weddings
  • Specific Name Your Family add-on to cover non-family members for family-related unforeseen events

Cons:

  • Cancel for Any Reason upgrade only available with 50% reimbursement
  • All policies exclude fear of COVID-19 coverage

Travelex Insurance

Consider Travelex for budget-friendly travel insurance. Travelex offers comprehensive coverage starting at just $60, which can be a good deal for travelers on a budget. Travelex offers three policy options, including the Travel Basic plan, which can fit into nearly any traveler’s budget.

While Travelex policies are only available for trips up to two weeks in length, children under the age of 17 are included with one adult on certain travel insurance policies at no additional cost, making it an affordable choice for families. Travelex policies can also be shared among up to eight travelers, making getting low-cost coverage on group trips easy.

Pros:

  • Low starting price for comprehensive coverage
  • Children under 17 are included for free on certain policies
  • Policies can be shared among up to eight travelers
  • Multiple plan options to fit different budgets and needs

Cons:

  • Limited to trips up to two weeks in length
  • Higher-priced plan needed for certain benefits
  • Limited coverage for extreme sports or adventure activities.
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