Purchasing travel insurance can be beneficial to you, especially if you are planning an expensive trip and do not have access to a credit card with good travel insurance benefits. With travel insurance, you will be covered for a variety of situations that could happen while travelling, including luggage loss, trip interruption, or even medical services if there happens to be an emergency while you are away from home. According to Investopedia, Travelex is ranked as one of the top travel insurance companies in the market, based on their plan options and price point. You may also choose other insurance companies like HTH, Seven Corners, or World Nomads based on the type of coverage you are looking for.
For our research on travel insurance providers, we took into consideration the details of 17 travel insurance companies’ plans to determine which companies provide the best overall coverage for each type of insurance (primary, secondary, medical, and cruise), as well as the premium charges for their least and most expensive plans. Additionally, we also looked at their customer support and any limitations to the coverage they provide, such as pre-existing conditions being excluded from coverage.
1. Travelex (Best Overall, Most Affordable)
Number of comprehensive single-trip plans: 3
Trip cancellation max (budget plan): $10,000
Emergency medical max (budget plan): $25,000
Why We Chose It
Travelex’s plans offer the lowest premiums of the company’s plans, according to Investopedia’s study. In reality, even the highest-cost option from Travelex is lower than many other sources’ lowest-cost options for travel insurance. Even so, Travelex has received the highest score for providing a value compared to price based upon the amount of coverage provided for both trip delays and loss of luggage, along with the amount of money spent on that coverage. The Essential Plan caters well to travellers on a budget and offers reasonable trip delay coverage as well as good lost luggage coverage. However, there are additional comprehensive plans available at affordable rates, as well as numerous options to enhance existing plans.
Pros
- Best prices for cheapest and most expensive plans
- Budget plan has good lost baggage and trip delay coverage
- Budget plan includes pre-existing coverage
- Many optional upgrades available, including cancel-for-any-reason
- Longest free-look period
Cons
- Low maximum limits for several important coverages
- Maximum coverage duration is only 30 days
- Long look-back period for preexisting conditions
- Pre-existing condition waiver and cancel-for-any-reason coverage only available on the most expensive plan
Overview
There are many options to choose from when selecting Travelex for travel insurance. Travelex provides three comprehensive travel insurance packages, each with three distinct specialty plans—one is a stand-alone post-departure medical package, while two are travel-related packages. The three standard packages all cover the following events associated with traveling: delaying or having to change your travel plans (or trip cancellation), damage or loss of baggage during transit, and providing for medical assistance in case of an emergency. Each of the three plans has at least seven optional upgrades as available on any comprehensive plan; the Ultimate Plan has nine upgrade options. Travelex’s cancel-for-any-reason (CFAR) upgrade option provides up to 75 percent of your trip expense.
The Essential Plan is an excellent option for customers looking for lower-cost travel insurance. The Essential Plan will provide coverage for trip cancellations that are made prior to your departure, and it will cover trip delay or baggage loss up to a total of $10,000. However, the Essential Plan offers limited coverage for missed connections and emergency medical assistance. The Essential Plan provides a lengthy look-back for pre-existing conditions of 180 days; therefore, health conditions that existed within the six-month period prior to the purchase of your plan will be excluded under the Essential Plan and will not be an eligible expense under the Essential Plan. If you choose the Essential Plan, you will not be able to waive this exclusion.
The Travelex Ultimate policy is much superior to Essential Plan, as it provides coverage for up to $50,000 for trip cancellations alone, and it provides free coverage for kids under 17 years of age.
Every policy offered by Travelex allows for the purchase of supplemental rental car damage, adventure sports, and rental property security deposit coverage. Ultimate plan customers have the option of purchasing cancel-for-any-reason (CFAR) and additional medical expense coverage. The look back period for pre-existing condition exclusions is limited to 90 days, and the exclusion can be waived if the Ultimate Plan is purchased within 21 days after the first payment is made for your trip.
Travelex Insurance Services is headquartered in Omaha, Nebraska, and was established in 1996 with the acquisition of the travel insurance division of Mutual of Omaha by Travelex Group. The policies are underwritten by Zurich American Insurance Company, which has received a superior rating from AM Best for Financial Strength.
2. HTH (Best for Older Adults, Best for Extended Travel or Living Abroad)
Number of comprehensive single-trip plans: 3
Trip cancellation max (budget plan): $5,000
Emergency medical max (budget plan): $75,000
Why We Chose It
Travelex plans offered the lowest premiums when compared to the results Investopedia found. The highest premium Travelex plan offered was lower than many of the cheapest plans offered by competing companies, nor did Travelex receive high scores when comparing the value of its plans against their costs when evaluating value. The Essential Plan provides coverage for Trip Delays and Lost Baggage for a very reasonable price. More comprehensive policies are also reasonably priced and there are numerous optional add-on products available to customize the policy you select.
Pros
- Best prices for cheapest and most expensive plans
- Budget plan has good lost baggage and trip delay coverage
- Budget plan includes pre-existing coverage
- Many optional upgrades available, including cancel-for-any-reason
- Longest free-look period
Cons
- Low maximum limits for several important coverages
- Maximum coverage duration is only 30 days
- Long look-back period for preexisting conditions
- Pre-existing condition waiver and cancel-for-any-reason coverage only available on the most expensive plan
Overview
HTH is the right choice for older people, especially if they are concerned about suffering medical problems while travelling. According to Investopedia, HTH’s TripProtector Economy plan is the best of all of the companies we looked at because it has the greatest percentage of trip interruption reimbursements (125%) and the largest amount of medical evacuation coverage ($500,000).
HTH’s premiums are average, however, this plan has a maximum trip cancellation of $5,000, and does not provide an option to waive the exclusion of pre-existing conditions from the medical coverage. However, the next tier up from the Economy plan, the TripProtector Classic plan provides a cancellation limit of $25,000 and will allow for coverage of pre-existing conditions if the plan is purchased within 14 days of the initial trip deposit, with a 60-day lookback period.
HTH has a number of standalone medical plans for applicants up to age 95 that provide coverage for pre-existing conditions. The TravelGap Voyager plan also provides primary medical coverage, which is important if you are on Medicare or do not have any kind of health insurance. Because some Medigap plans will cover emergency care while abroad, Original Medicare and Medicare Advantage typically do not.
Secondary insurance offered by the travel provider’s insurance plan may require applicants to demonstrate primary insurance in order for travel provider’s insurance to accept the application. If this occurs, you must submit medical claims to primary provider first, which may create additional delays and difficulties when seeking reimbursement.
HTH’s TripProtector Preferred insurance plans provide the option of Cancel for Any Reason (partial reimbursement), thereby allowing reimbursement of up to 75 percent of allowable cancellation costs.
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HTH is a good choice as a travel insurance solution for individuals traveling for long durations since it also has Annual Multi-Trip and Long-Term Medical Insurance plans for individuals living outside of the United States, which is understandable since HTH is an international travel insurance company providing services since 1997 to individuals traveling internationally or living abroad.
HTH Travel Insurance is located in Pennsylvania. The HTH Travel Insurance Company is a subsidiary of Nationwide Insurance Company.
3. Seven Corners (Best for Cruises)
Number of comprehensive single-trip plans: 2
Trip cancellation max (cruise plan): $30,000
Emergency medical max (cruise plan): $250,000
Why We Chose It
Investopedia found that Seven Corners offers more comprehensive cruise insurance coverage than any other travel insurance company, making it the clear frontrunner in this category. Seven Corners received the highest scores on eight out of the 13 criteria evaluated for cruise plans, including coverage for missed connections, emergency medical care, and itinerary changes – all aspects of travel that can be extremely problematic for cruisers. Additionally, there are optional add-ons for CFAR (Cancel For Any Reason) and IFAR (Interruption For Any Reason) that allow you to be reimbursed for as much as 75% of the non-refundable cost of your trip.
Pros
- Cruise insurance has top-of-the-line coverage for nine important mishaps
- Good coverage for medical evacuation
- CFAR and IFAR optional coverage offer 75% reimbursement
- Other Seven Corners plans offer lower rates if you need less coverage
Cons
- Highest premiums
- Fewer cruise-specific plans than competitors
Overview
The Seven Corners cruise insurance offers generous reimbursements with competitive rates:
100% of trip cancellation expenses, with a maximum of $30,000
150% of trip interruption costs
$250 per day for trip delays
Maximum of $1,000, total for trip delay expenses
$1,500 for missed cruise connections
$500 for itinerary changes
$250,000 for emergency medical expenses
75% of the total nonrefundable costs of trips for CFAR/IFAR options
In addition, a maximum $500,000 of coverage for emergency medical evacuations.
The only disadvantage of the Seven Corners schedule is price; it had the highest premium prices among the insurance plans examined. But, if you don’t need all of that coverage contained within their cruise plan, they also offer a basic trip protection policy, Seven Corners Trip Protector Basic which provides the same 100% coverage for cancellations, up to $30,000, but is about 43% less than Seven Corners cruise insurance plan premiums. This basic policy has lower amounts of coverage than the cruise plan, and for many travelers, the basic policy may meet their travel protection needs. Additionally, this basic plan covers missed cruise connections up to $500.
Located in Carmel, Indiana, Seven Corners, established in 1997.
4. World Nomads (Best for Adventure Travel)
Number of comprehensive single-trip plans: 3
Trip cancellation max (budget plan): $2,500
Emergency medical max (budget plan): $125,000
Why We Chose It
World Nomads has the most affordable travel insurance plan, covering 131 different adventure sports and an extensive list of other sports and activities. According to our review of 17 companies, World Nomads’ trip delay, baggage, and emergency medical coverage were the most comprehensive, with extremely high amounts of coverage. Additionally, World Nomads provides excellent medical evacuation coverage. World Nomads also has a 24/7 phone number that customers can call for fast emergency assistance.
Pros
- Budget plan covers more than 200 sports and activities
- Best trip delay coverage ($250/day up to $1,000 max)
- Best baggage coverage (up to $1,000)
- Best emergency medical coverage ($125,000)
- Great emergency evacuation coverage ($400,000)
Cons
- High premiums
- Poor trip cancellation and trip interruption coverage
- No primary medical coverage
- No coverage for preexisting conditions
Overview
If you’re an adventurous traveller, World Nomads is a great travel insurance option for you. They have an affordable Standard plan which offers coverage for many adventure sports – including skiing (within ski area boundaries), SCUBA diving (up to 165 feet), rock climbing, mountain biking, white water rafting/kayaking, bungee jumping, parasailing, zip-lining, and others. Their upgraded plans include additional coverage for heliskiing, hang gliding, cave diving, skydiving, and flying an airplane (and many more – see their website for a complete list). Equipment is also covered – $1,000 for the Standard plan, and $3,000 for the higher-tier Epic plan.
The Standard plan offers excellent coverage for most things with the following exclusions: trip cancellation and trip interruption coverage are limited to $2,500, and there is no coverage for pre-existing conditions. However, higher-tier policies allow waivers for pre-existing conditions if the coverage was purchased within 7 days of making the first trip payment. No policies provide primary medical coverage.
The Epic Plan has a higher cancellation coverage limit of $15000 and better coverage than any of the other travel insurance plans we reviewed for other travel mishaps. The Epic Plan is also the most costly plan we reviewed, but because it provides coverage for many activities and excels at other areas of coverage, it might be well worth the cost if you want an all-inclusive plan. In addition, if you are planning to take many trips in one year, there is an annual, multi-trip policy that gives you another option.
World Nomads began selling travel insurance to independent travellers in 2002 and is based in Sydney, Australia. The company’s U.S. operations are headquartered in Oakland, California. Service for World Nomads’ policies is provided by Trip Mate and is insured by the United States Fire Insurance Company (USAFC). The USAFC is part of the Crum and Forster Group, a financially stable insurance company that was founded in 1822.
Why Trust Us
The way we have chosen the best travel insurance providers is through an extensive research process that included collecting multiple data points based on a variety of factors for 17 different companies. We examined the costs, coverages and customer service options associated with each company in order to provide an unbiased and comprehensive comparison.
Investopedia has been providing financial data and information to the public since 1999.
How We Chose the Best Travel Insurance Companies
To develop this list of top-rated travel insurance providers, we first needed to identify the relevant insurance providers we wanted to evaluate. After conducting a market study of the insurance providers and their reputations and level of service, we narrowed the list down to 17 companies for more in-depth analysis.
In order to do this, we collected 765 data points, which included 45 criteria between March 7 and March 19, 2025, that were analyzed from company websites, telephone customer service calls, and by AM Best, an independent agency that rates insurance providers on their financial strength. Then we created a model through which we rated each insurance provider on six categories, as follows:
- Primary coverage: 39%
- Medical coverage: 25%
- Cost: 19%
- Secondary coverage: 11%
- Customer service features: 5%
- Cruise coverage: 1%
To name the best cruise insurance provider, we used a separate methodology with these weights
- Cruise Coverage: 87%
- Cost: 13%