15 BEST Travel Insurance Companies of 2023

The word “insurance” can be intimidating. Maybe it’s because big insurance companies are notorious for bullying every penny out of you. Or maybe you just don’t want to think about worst-case scenarios in which you’d actually need insurance. On top of that, comparing all the options can be daunting.

The truth is that purchasing travel insurance (and also using it) doesn’t have to be a terrible experience.

Travel insurance is ultimately your friend. It’s arguably your most loyal travel companion. In times of turmoil, travel insurance can quite literally save you. If you have to cancel or change trip plans, travel insurance is there to help you. And if you lose your luggage, travel insurance has your back.

As a wise man once said, “If you can’t afford travel insurance, you can’t afford to travel.” I don’t know who that wise man was, but I do believe he was right.

That said, there are some travel insurance companies that are better than others. This is especially true depending on your travel plans and specific needs. In this article, I’ll help you figure out who the best travel insurance companies really are (and which one is the best fit for you).

If you want to skip the research and get a customized quote, just enter your trip details into the SquareMouth widget below.

Let’s jump right into my list of the 15 best travel insurance companies:

1. Heymondo: Best Travel Insurance Company Overall

Insurance companies aren’t known for being super easy to work with. Customer service often isn’t great, and it’s difficult to find a plan that gives you what you want without having to pay for unnecessary extras.

Heymondo is a more modern travel insurance company that prioritizes flexibility and ease of use, and they really stand out from the cloud. They have a mobile app that makes it super easy to manage your policy, and their 24/7 customer service is very responsive.

Most insurance companies only offer a few standard plans, and you are stuck to fixed dates. Heymondo changes that with a wide range of plans, add-on options, and customizations. Need high-end medical insurance? Check. Want a budget option for backpacking around the world? Check. Want an annual plan for frequent business trips? Check.

With all the options to choose from, the reasonable prices, and the great service, Heymondo is an easy pick for the best travel insurer overall.

The Heymondo Long Stay Plan works differently with a flexible renewal system that makes it easy to stay on the go for a month or twelve months and go with the flow. This is probably the most flexible plan out there for long-term travel.

If you don’t need comprehensive coverage for trip cancellation or other potential trip costs, Heymondo offers a medical-only plan that offers top-level medical insurance and emergency medical evacuation coverage at an impressively low cost. This is a great way to get medical insurance while traveling without spending an arm and a leg.

Heymondo’s other plans have all the standard options like trip cancellation coverage that reimburses 100% of your trip cost if you have to cancel (for one of their approved reasons, of course). They also have options to add on coverage for electronic equipment, adventure sports, cruises, and more.

If you make frequent shorter trips, there’s also an annual plan that covers multiple trips for an entire year.

It doesn’t make sense to purchase travel insurance that doesn’t fit your needs. Heymondo gives you plenty of options to customize your plan to your specific circumstance so you can get exactly what you need without paying extra.

2. SafetyWing: Best Digital Nomad Travel Insurance

If you plan to be on the road for an extended period of time, and if you’re a digital nomad, then SafetyWing is one of the best travel insurance companies for your needs.

In short, other insurance companies only cover your travels up to a limited amount of time, but SafetyWing allows you to have complete coverage for as long as you like! Your plan automatically renews every four weeks until you decide to cancel, just like a subscription.

Being location-independent, digital nomads and freelancers need insurance for travel that’s just as flexible as they are.

Furthermore, SafetyWing’s policy comes with $100,000 for both emergency medical coverage and emergency evacuation coverage in over 180 countries. Up to $1,000 in emergency dental care coverage is also included.

Although trip cancellation is not included in the plan (which can be a deal-breaker for some long-term travelers), they do offer trip interruption and trip delay coverage.

If you need to return home from your trip early, you’ll be reimbursed up to $5,000. You’ll get $100 per day if your trip is delayed, and you can claim up to $3,000 for lost/damaged baggage.

Finally, there’s coverage if you have to return home at any point. This is excellent for digital nomads who like to come and go as they please.

There’s a caveat: expensive equipment like laptops, cameras, and smartphones do not have coverage under the SafetyWing policy. If you want to make sure your equipment is protected on your trip, consider a supplemental coverage plan with InsureMyEquipment.

Click here to read our full SafetyWing review, or check out our SafetyWings vs World Nomads comparison.

3. Faye: Most User-Friendly Travel Insurance

Insurance companies aren’t typically known for being user-friendly. Long call waits, confusing policies, and clumsy interfaces are common, even among some of the most reputable travel insurance providers.

Faye is here to change that with a more modern approach to purchasing travel insurance. They use an app-centered approach that lets you choose your policy, customize your coverage, make changes, and file claims all from one app on your phone. The whole process is super streamlined and easy to use.

Faye is pretty middle-of-the-pack when it comes to travel insurance costs, but they offer great value for that money. They pack in solid medical coverage, trip cancellation coverage, trip interruption insurance, and lost luggage protection. You get all the standard features you expect from a good insurance policy, plus some great add-on options.

Faye is also a great choice for people with pre-existing medical conditions. These are covered as long as you purchase your plan within 14 days of making your first trip payment and are able to travel at the time of purchase.

Rather than offering different levels of insurance packages like many other providers, Faye has one simple plan that you then can customize as you see fit. This is a much easier way to get what you need rather than comparing and contrasting packaged plans.

I love being able to customize my travel policy to fit my exact needs, and Faye offers a lot of customizations and add-ons. You can bump up the medical coverage or add coverage for “cancel for any reason,” car rentals, extreme sports, vacation rentals, or even pet care. I love the flexibility to pick and choose what you need and what you don’t.

Faye’s newest feature is an included Telemedicine network. No matter where you are in the world, it’s easy to get in touch with one of their thousands of medical providers directly through the app. I’d call that next-level service when it comes to travel insurance companies!

Looking for an easy-to-use 21st-century solution to travel insurance? Faye is a great option.

Trawick International was founded in 1998 and initially offered student insurance and insurance for study abroad programs. They built upon their success in that field to transition fully to the travel industry, and now they are one of the top travel insurance providers out there.

Ultimately, the most important part of any travel plan is the medical coverage. Having trip cancellation coverage, baggage delay coverage, and other insurance to insure the trip cost is great, but ultimately that’s all just for peace of mind. Travel medical insurance can be a lifesaver and literally save you tens or hundreds of thousands of dollars in medical costs if you are injured or become ill on your trip.

If you are looking for the absolute best comprehensive medical coverage, Trawick International offers some fantastic travel medical insurance plans with high coverage limits and waivers for pre-existing conditions.

Trawick offers medical-focused plans (no trip cancellation coverage, etc.) that are much lower than typical full-out travel insurance costs. This is a great way to get the most important insurance without spending lots of money. Plus, you still get coverage for trip interruptions, flight delays, and baggage delays/lost baggage.

Trawick also offers comprehensive travel insurance with add-on options for cancel for any reason coverage. It probably wouldn’t be my first pick if you want all the best trip insurance, though.

5. Allianz: Best International Travel Insurance

Allianz Global Assistance is one of the largest and oldest and best companies in the industry. With multiple plans, policies, and benefits to choose from, Allianz likely has a travel insurance plan that suits your needs.

For international trips, Allianz travel insurance has some basic policies that offer coverage for only trip cancellation and not travel medical, while other policies include trip interruption coverage, coverage for loss or damaged baggage (but only up to $500 per item), and baggage delay coverage. That’s all super important when you’re traveling internationally because you don’t want to be stuck with big bills while you’re far from home.

The AllTrips Executive plan from Allianz has coverage for ALL of it—including medical coverage up to $50,000, and emergency transportation up to $250,000. Allianz also has several affordable and optional add-ons, like rental car coverage from $9 per day.

One of the best features of Allianz insurance plans is their generous cancellation policy. Most insurers have very strict requirements for approved reasons you can cancel your trip and still get the reimbursement. Allianz is easier to work with and offers cancel for any reason coverage as a standard feature for many of their higher-level plans.

Want to learn more? Check out our full Allianz Travel Insurance review.

6. John Hancock: Best Covid Travel Insurance

Whether you like it or not, Covid has changed travel forever. Most countries may have lifted Covid-related travel regulations by now, but there are still a few countries with Covid restrictions.

If you are still worried about Covid or are traveling to a country that still has restrictions in place, it makes a lot of sense to purchase travel insurance that covers any potential Covid-related delays or trip costs (like additional hotel stays or flight changes for quarantines).

Fortunately, most travel insurance companies now offer some form of coverage for Covid. Some companies just treat it like any other illness and cover it under their medical insurance, while others have specific Covid-related policies that cover quarantine and trip delay expenses.

John Hancock has some of the best insurance policies if you’re worried about Covid-19. If you catch the ‘Rona while traveling abroad, they’ll cover your medical bills as well as any testing and lodging for a quarantine period.

Beyond Covid, John Hancock just offers good value travel accident insurance overall. You get solid coverage with trip cancellation and interruption insurance (including optional cancel for any reason coverage) and all the other features you’d expect from a comprehensive plan.

7. Seven Corners: Best Backpacker Travel Insurance

If you’re loading everything up in a backpack and heading out for an extended trip overseas, you’re likely already stretching your funds to your limit. Purchasing travel insurance for backpackers is still a very (VERY) good idea, but you’ll probably want to find a plan that’s as affordable as possible.

Fortunately, Seven Corners offers simple, affordable plans that are perfect for backpackers seeing the world on a budget. Seven corners plans offer great bang for your buck with simple, value-packed options and reliable insurance worldwide.

With Seven Corners plans, you get all the standard travel insurance coverage you would expect: emergency medical coverage and medical evacuation, trip cancellation and interruption, baggage loss, and more. Seven Corners has two travel insurance plans to choose from: Trip Protection Basic and Trip Protection Choice. The Choice plan offers higher reimbursement amounts and a waiver for existing medical conditions.

If you don’t want or need trip coverage, Seven Corners offers insurance only for medical expenses and medical evacuation for an even lower overall cost. This is a good way to keep your expenses really low while still having the most important coverage for unforeseen events.

8. Nationwide: Best Travel Insurance for Cruises

Did you know that you could purchase specific cruise insurance? Nationwide has an insurance plan for that (actually, a few travel insurance plans). Cruises can be a significant expense, and you’ll feel a lot better knowing that your trip is protected.

Nationwide provides unique cruise insurance coverage for issues related to cruise travel, including coverage for port-of-call itinerary changes made by the cruise line before departure, coverage for mechanical breakdowns on the ship, trip delay coverage in arriving to or departing from ports of call, and coverage for shipboard service disruptions.

Nationwide currently has three types of cruising travel insurance plans available: a Universal Cruise Plan, a Choice Cruise Plan, and a Luxury Cruise Plan. Universal is the most basic insurance policy, offering up to $75,000 for travel medical coverage and $250,000 for emergency evacuation insurance. Their trip cancellation covers up to 100% of non-refundable trip costs, while their trip interruption coverage is up to 125% of non-refundable trip costs. Yes, that includes weather-related events.

Their best and most comprehensive travel insurance plan is the Luxury Cruise Plan, for the really serious cruiser. That includes higher coverage limits as well as some extra perks like Cancel For Any Reason, non-medical evacuation coverage, and an existing condition waiver.

9. Tin Leg: Best Travel Insurance for Seniors

For many people, retirement age is the time when you are finally able to plan and go on those big worldwide trips you’ve always dreamed about. Unfortunately, many travel insurance companies only offer coverage for people under a certain age. That’s where Tin Leg comes in.

Tin Leg’s insurance offers coverage for you up to age 90, making it one of the best travel insurance companies for seniors over the age of 65.

Although Tin Leg is relatively new, they’re underwritten by Berkshire Hathaway, so they’re already well established. Tin Leg also has some very competitive rates for their travel insurance plans, with their most basic insurance for travelers being the Tin Leg Economy Plan with basic trip cancellation coverage and medical coverage with limits up to $20,000.

But if you’re a senior, the Tin Leg Luxury travel insurance plan is the way to go—you’ll have coverage for up to $100,000 in medical and $250,000 for medical evacuation coverage and repatriation.

Whether you’re planning an around-the-world trip for your retirement, or just taking your grandkids on a European vacation, you’ll be happy to have Tin Leg as your insurer.

10. Travelex: Best Cancel For Any Reason Travel Insurance (CFAR)

When insurance companies offer trip cancellation insurance, they typically place very strict requirements on how, when, and why you can cancel and still receive reimbursement. Sometimes policies will only pay out for trip cancellation if there is some catastrophic event. If you want a bit more assurance, you’ll need to opt for Cancel For Any Reason (CFAR) coverage.  

With Travelex it’s easy to upgrade any plan with Cancel For Any Reason protection, which allows you to cancel your trip at least 48 hours before your scheduled departure and still receive up to 75% of the trip cost, up to $10,000. While other travel insurance plans also offer CFAR, it’s more common for them to cover around 50% of your total trip cost.

In addition, Travelex is also one of the most customizable companies in the insurance industry today (our Travelex insurance review dives deeper into this). 

Besides the optional add-ons to your policy, Travelex offers two different plans available to choose from, offering different types of coverage. Travel Basic, while affordable, only covers $15,000 of travel medical emergencies and $500 of lost or damaged baggage. However, it does include $100,000 coverage for emergency medical evacuation.

Travelex also has a second plan, Travel Select, which includes $50,000 emergency medical coverage, $1,000 lost or damaged baggage coverage, and $500,000 medical evacuation coverage. Moreover, you get 150 percent of your insured trip cost reimbursed if your trip is interrupted.

Finally, Travelex has one of the shortest look-back periods for medical conditions. While other companies have a window of 180-days, Travelex’s window is just 60 days. Travelex also offers an existing medical condition exclusion waiver to cover your condition while you’re abroad.

11. Globelink: Best Travel Insurance for Europeans

If you’re a traveler from the United Kingdom or the European Union, your best bet for travel insurance is with Globelink. Prices start at just £14 ($18) for single trip plans, making it one of the most affordable options on the market.

Even the basic economy insurance includes £5,000,000 of emergency medical expenses. And £2,000 of trip cancellation coverage. In addition, if you plan to take multiple trips throughout the year, Globelink also offers multi-trip plans. They include £10,000,000 of emergency medical expenses and £6,000 of trip cancellation coverage.

Depending on where you’re traveling, you can purchase three types of destination plans. This includes Europe (and Australia and New Zealand); worldwide excluding the US, Canada, Mexico, and Japan; or worldwide all-inclusive. In other words, you have options for policies to suit your needs.

12. AIG Travel Guard: Best Annual Travel Insurance Plans

For frequent travelers, it can make a lot more sense to buy an annual plan that covers all your trips for an entire year. The Travel Guard Annual Plan is one of the best out there and can save you a lot of cash if you have several trips planned. In fact, this plan isn’t that much more expensive than higher-end single-trip plans from many other providers.

This plan includes solid travel medical expense coverage (including medical evacuation. You also get all the standard trip insurance in case flights are canceled or delayed.

One area where this plan isn’t as great is for trip cancelation insurance. You have to meet some very strict requirements to receive reimbursement for cancelling a trip.

AIG is a highly respected and reliable company with good customer service, so you can count on them to have you covered on international trips.

So, if you’re traveling a lot and are looking to cut down on travel insurance costs, the AIG Travel Guard Annual Plan is a much better option than trying to purchase coverage for each trip individually.

13. IMG: Best Family Travel Insurance

No matter which way you spin it, traveling with a family is expensive, and the idea of adding a new insurance policy to all your other expenses can make your wallet start to hurt. Still, you absolutely need travel accident insurance to ensure your family is protected while abroad.

The good news is that IMG offers a wide range of family-friendly plans to protect you in unforeseen events. It’s simple to put in your departure date and return date, add family members, and get a comprehensive quote. You then get a range of plans to choose from based on your needs and budget.

IMG family plans range from minimal medical-only plans to high-end comprehensive policies with personal effects coverage, CFAR coverage, and even cruise insurance. The great news is that since their travel insurance plans cover a wide range of budgets and needs, you get to choose exactly how much coverage you want to pay for. 

Amazingly, many of their family plans manage to be less expensive than individual plans from some other providers while still offering great overall protection. That is a major win when you’re planning a trip with a family.

14. Berkshire Hathaway: Best Travel Insurance for Pre-Existing Conditions

If you have any chronic or pre-existing medical problems, you know that finding insurance can be difficult and expensive. Most insurance companies like to keep the risk of having a claim low, so they make it harder for people with medical conditions.

Fortunately, Berkshire Hathaway does things a little differently with their travel coverage plans. While most other providers offer options to pay more to waive medical condition exclusions, Berkshire Hathaway includes a pre-existing condition waiver as a standard feature in all their plans, even the least expensive. No extra fees. No hoops to jump through. Berkshire Hathaway Travel Protection is easily one of the best options for people with existing medical conditions.

In addition to insurance for medical emergencies, you also get everything you’d expect from comprehensive travel insurance policies. You get trip delay insurance, trip cancellation coverage, personal effects coverage, and more. Plus, the highest-level plan includes CFAR coverage.

All in all, Berkshire Hathaway Travel Protection offers some solid insurance options, especially for people who may have a hard time getting insured elsewhere because of their medical history.

15. AXA Assistance USA: Best Travel Insurance for Europe

Travel insurance is all about peace of mind: when you’re far from home, you want to know that you’re covered in case something happens, whether that’s a delayed flight, lost bag, or a major injury.

At the same time, insurance costs can add up quickly, and the odds are your wallet is already hurting from all the other travel expenses. When it comes to getting the best bang for your buck, AXA Assistance USA is the absolute best option I’ve found. Not only are they one of the most respected and reliable travel insurance providers, but they also manage to offer solid coverage at some pretty impressive prices.

Like any other travel insurance provider, AXA Assistance USA gives you trip cancellation coverage, medical coverage, and emergency evacuation coverage, but there’s also a lot more included in each policy.

The AXA Assistance USA Platinum Plan (which is still less expensive than lower-level plans from many other providers) offers coverage for trip interruption up to 150% of the trip cost, pet boarding fees, missed connections, sports equipment rental, and even identity theft services. It also includes a waiver for medical conditions. Plus, you can add on more options like coverage that lets you cancel for any reason.

If you want more basic coverage, the Silver Plan still covers medical expenses, trip cancellation, and the other standards, all at some of the lowest prices I’ve seen on the market.

AXA Assistance USA plans are straightforward, and their customer service is responsive and easy to work with.

How to Choose Travel Insurance Coverage

There you have it, 15 fantastic companies to choose from, but how do you pick the right option? Not every company is going to offer the same benefits, and there is no one best solution for everyone (or even for every trip). There are several factors you need to take into account when choosing

Here are the main things travel insurance should cover, and things to watch for when choosing a policy:

Medical Expenses and Evacuation

Medical coverage is by far the most important insurance you need when traveling. When you are outside your home country, your standard health insurance probably doesn’t protect you, so you need an insurance plan that includes medical protection in case you are injured or become ill. Without this insurance, you could end up stuck with any hospital bills for emergency care.

Travel medical insurance usually includes coverage up to a fixed maximum amount. This maximum can range from $15,000 to as high as $2 million.

I typically recommend looking for a plan that has at least $100,000 in medical insurance. Hospital bills can rack up quickly, and you don’t want to end up having to pay tens of thousands of dollars if you need medical care abroad.

If you have a pre-existing medical condition, you also need to take that into account when shopping for travel insurance, because not every policy will cover you. Look for plans that include pre-existing condition waivers to make sure you can get the protection you need.

In addition to covering medical expenses, travel medical insurance also usually includes emergency medical evacuation and repatriation. Here’s the difference:

• Medical evacuation coverage will transport you to the nearest facility that will sufficiently provide the right medical services.
• Medical repatriation will transport you to your home.
• Repatriation of remains will transport your deceased remains back to your family in case of accidental death. Nobody wants to think about accidental death, but you also don’t want to leave your loved ones in a bad situation. Repatriation is a necessity.

Trip Interruption or Cancelation

Past emergency medical expenses, travel insurance protects your financial expenses if your trip is interrupted or cancelled.

For example: say you booked a trip to Australia and spent $4000 on flights and lodging. Then your house catches on fire while you’re on the plane. Naturally, you’ll want to cancel your trip, head home, and deal with the situation. In this case, good travel insurance will reimburse you the $4000 you already spent.

Some plans will even pay more than your original trip cost if your trip is interrupted. This can help pay for unplanned hotel stays or flights on the way home. Look for plans that have 150% trip interruption coverage (or any percent higher than 100).

It’s worth noting that you can’t just cancel your trip willy-nilly and get your money back. Most policies have pretty strict restrictions on acceptable reasons for cancelling your trip and how soon before your departure date you can cancel. If you make a cancellation claim, they’ll want you to prove that it was for one of the accepted reasons.

If you don’t want to bother with that stress, look for a plan that includes “cancel for any reason” coverage. Just like it sounds, you can cancel your trip for any reason at all and get refunded. Just expect to pay a bit more for these plans.

Baggage and Personal Belongings Insurance

Most travel insurance policies will offer some insurance to reimburse you if your baggage or some other personal belongings are damaged or lost on your trip.

The important thing to note here is that the coverage typically only goes up to a fixed maximum dollar amount (and sometimes a maximum amount per bag or per item). If you’re traveling with lots of expensive stuff, you want to make sure the policy has a high enough amount to cover everything.

Missed Connections and Trip Delays

The feeling of running through the airport at top speed only to arrive at the gate and find out your plane has already left is not a good one. That’s a lot of time (and money) out the window.

Fortunately, most travel insurance plans have protection for this situation too. With missed connection coverage, travel insurance companies will pay out a specified amount if you miss a flight connection. This can help with any expenses to help you get to your end destination.

On the flip side, delayed or canceled flights can also cause huge headaches. I like having travel insurance that pays for trip delays in case I need to book an unexpected hotel stay or look for a new flight.

Again, both of these services typically have specific payout maximums, so make sure the amount is enough for your trip.

Rental Car Insurance

If you’ll be renting a car, you can always choose to add on the insurance at the rental place. It’s expensive, but going without any insurance is a bit sketchy (especially if you’re out of the country and your normal car insurance doesn’t cover you at all).

The best way to get rental car insurance without paying an arm and a leg is to bundle it in with your travel insurance. Fortunately, most providers offer a rental car protection option that’s much less expensive than the plans you get from the car rental company.

As with everything, there’s typically a maximum insured amount, so double check before you rent the Bugatti.

Other Options and Considerations

We’ve covered the basics, but there may be some specific situations where you want additional coverage. Many companies offer optional add-ons (or additional standard features) that keep you insured for any situation. Here are a few options you may want to look for.

• Adventure Sports: Travel medical insurance covers emergency medical expenses if you’re injured or sick, but they may not accept your claim if you’re participating in “risky activities.” If you want to go skydiving, skiing, climbing, or participate in some other adventure or extreme activity, make sure it’s covered under your policy.
• Vacation Rental Damage Insurance: If you’re renting a place on Airbnb (or an Airbnb alternative), you may want insurance to pay for any damages to the property so you don’t have to.
• Electronics/Equipment Insurance: Whether it’s camera gear or a backcountry ski setup, traveling with expensive equipment can be stressful. Fortunately, you can get travel insurance that covers your high-value items in case they are lost or damaged.
• Pet Care: Leaving a furry friend at home? Some travel insurance policies offer coverage to pay for additional kennelling services if your trip return is delayed in any way.

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