Faye Travel Insurance offers a digital-first take on travel insurance, allowing travelers to manage their policy and file claims on an app. It offers some interesting digital tools and decent coverage, though its features come at a high price.
Business Insider compared Faye to the best travel insurance companies and found it to be an above average option, with decent coverage options and a unique reimbursement feature. However, travelers, especially younger travelers, should be wary of its high price.
One app where you can do it all. File a claim in minutes, get 24/7 assistance, and get reimbursements right to your digital wallet.
Offers travel insurance policies from 32 companies with a a comprehensive, streamlined overview page for each insurance provider.
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SquareMouth is an online marketplace that helps you choose a travel insurance policy from 32 companies that shares a comprehensive, streamlined overview page for each insurance provider.
Trip cancellation coverage for up to 100% of the trip cost and trip interruption coverage for up to 150% of the trip cost
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Tin Leg travel insurance offers eight travel insurance plans to meet the unique needs of travelers.
Trip cancellation coverage for up to 100% of the trip cost and trip interruption coverage for up to 150% of the trip cost
Travelex travel insurance is one of the largest travel insurance providers in the U.S. providing domestic and international coverage options. It offers a basic, select, and America option. Read on to learn more.
Faye is a fairly new competitor in the travel insurance industry, operating since 2019. It’s a tech-focused policy. The entire process of purchasing your policy, managing it, and filing claims happens online and through the Faye app.
Faye offers one base travel insurance policy with a few additional coverage options, such as pet care expenses, vacation rental damage protection, and adventure sports protection. Faye’s”whole trip” travel insurance policy covers all the fundamentals with fairly high coverage limits.
The biggest downside to Faye is its cost. Faye’s premiums are among the highest in the industry. It has particularly high rates for younger travelers relative to its competitors, which is a shame, since its tech-focused approach to travel insurance seems geared towards younger travelers.
Its most unique offering is the Faye Wallet. When a covered incident occurs and the insured traveler’s claim is approved, Faye transfers money into the Faye Wallet. This money can be used to pay for expenses as a result of the incident, like clothes and toiletries purchased as a result of a baggage delay. You can also transfer these funds directly into your bank account.
While the Faye Wallet is a nice feature and fits right into Faye’s tech-focused coverage, the added convenience isn’t necessarily enough to justify the price of the overall policy.
Faye offers one base plan for trips that cost up to $40,000 and are up to 180 days long. It also offers riders to customize your coverage for a fee.
Here’s what’s included in the base plan:
In addition to the base plan, Faye offers a robust selection of riders or supplemental policies buyers can add to the plan for an additional cost. The riders are the same when traveling within the U.S. and abroad.
Faye offers the following riders:
Always check your other insurance policies if you’re looking for specific coverage types not included in this list. You might be surprised at the coverage automatically available to you. For example, car insurance companies often offer their own car insurance plans. You can also talk to your auto insurance company to see if your policy extends to rental cars.
Additionally, some credit cards offer travel protections, which are generally along the lines of basic travel cancellation insurance. If you have a travel credit card, it may be worth double-checking the protections that the credit card provides.
The premium you pay will depend on various factors, including the age of the travelers, destination, and total trip costs. The average cost of travel insurance is 4% to 8% of your travel costs.
After inputting some personal information, such as your age and state of residence, along with your trip details, like travel dates, destination, and trip costs, you’ll get an instant quote for plans available for your trip. And from there, it’s easy to compare each option based on your coverage needs and budget.
Now let’s look at a few examples to estimate Faye travel insurance coverage costs.
Quotes from Faye travel insurance put it on the more expensive side. Even the premiums for the 23-year-old traveler equates to 5.7% of the overall trip cost, which is high for a young traveler.
While Faye isn’t the cheapest travel insurance, its policies for older travelers aren’t too expensive, relative to other travel insurance companies. Additionally, its CFAR is relatively inexpensive.
To purchase a Faye policy, you’ll need to give them the following details about your trip:
Once you get your quote, you can input your trip cost as well as purchase any available riders. Once you purchase your policy, you’ll have a 14-day free look period, in which you can cancel your policy and receive a full refund, as long as your trip hasn’t started and no claims have been submitted.
The easiest way to submit a claim with Faye is through its mobile app. The app has a 24/7 chat feature to ensure you get the assistance you need as quickly as possible.
You can also contact Faye via phone or email. Domestic travelers should call +1-833-240-7056, while international travelers should dial +1-804-482-2122. If you wish to contact the company via email, claims@withfaye.com is the best address.
Notably, one thing that sets Faye’s claims process apart from other travel insurance providers is that any payouts you receive will be deposited directly into your Faye Wallet.
The Faye Wallet works similarly to an Apple Pay account, allowing Faye’s team to process claims faster. You can immediately access the money to pay for things like dog kenneling, replacing everyday toiletries and clothes, and more.
Customer reviews report that a claim might take a while to process on their own but calling Faye’s customer support line can expedite the claims process.
Although Faye is relatively new in the travel insurance industry, it’s built an excellent reputation among its customers. It has an average rating of 4.7 stars out of five on its Trustpilot page. Reviewers spoke highly of the buying process and customer service team. The claims process received mixed reviews, with some extended wait times, but reviews on the claims process were still positive overall. 
Faye’s mobile apps on Android and iOS play a significant role in your coverage, allowing you to manage your policy, file claims, and communicate with Faye’s customer service team. Faye’s Android app received 4.7 stars on the Google Play store, and its iOS app received 4.6 stars. 
It’s also worth mentioning that Faye regularly responds to reviews on Trustpilot as well as reviews of its mobile app. That said, contacting customer service directly is still the most reliable way to get assistance, as review response times from Faye range from same-day to two weeks from when the review was made.
The National Association of Insurance Commissioners’ complaint index rates insurance companies based on how many complaints they receive against its share of the market. A 1.00 means that a company has an expected number of complaints based on its size. A lower score indicates fewer complaints than expected and a higher number indicates more complaints than expected.
United States Fire Insurance Company, which underwrites Faye’s policies, scored 0.72, indicating that it has fewer complaints than expected.
Crum & Forster, which owns United States Fires Insurance Company, has an A (Excellent) Financial Strength Rating from AM Best, indicating it is likely to meet its financial obligations, like paying out claims.
Learn more about how Faye travel insurance compares to some of the best travel insurance companies.
While both Faye  and Travel Guard offer apps for travel insurance customers, AIG’s app is currently only available to those with corporate bookings. In short, vacationers lack access to the app. Faye, on the other hand, has apps for both IOS and Android users.
Faye may be the way to go if you’re more comfortable navigating the insurance process on your phone or don’t plan to take a computer. Still, AIG may provide more options if you want more control over your claim limits.
AIG offers three levels of comprehensive travel insurance with varying limits. The company also has annual travel insurance plans, which may be a good fit if you plan to go on multiple trips this year. Overall, premiums are similar between the two companies.
Read our AIG Travel Guard travel insurance review.
One of Faye’s main benefits is that it offers a large selection of add-on options that allow you to tailor your coverage to fit your needs. These include riders like a pet policy or an adventure sports rider.
At this time, Allianz only offers supplemental rental car insurance policies in addition to its comprehensive insurance plans.
However, Allianz may present a more straightforward and comprehensive option if you’re not in the market for hyper-specialized coverage. Both companies include emergency medical transportation and costs in base plans. Overall, Allianz Travel Insurance is typically the more affordable option between the two.
Read our Allianz travel insurance review.
On the whole, Faye and World Nomads travel insurance are relatively similar. Both offer comprehensive insurance plans, coverage for extreme sports, and 24/7 claims assistance. However, it’s the finer details that set the two companies apart.
For its part, Faye’s most significant selling point is its mobile app and quick transfer of funds to its card. It also has the option to add on those tailored additional coverage riders, such as its pet plan bundle, cancel for any reason coverage, and vacation rental damage protection.
In contrast, World Nomads Travel Insurance has two comprehensive plans, which means you can select your claim limits. Plus, the company allows you to extend your coverage if you stay away from home longer than you’d planned.
World Nomads premiums may also be more competitive depending on where you’re going.
Read our World Nomads travel insurance review.
To evaluate Faye travel insurance, Business Insider reviewed the following factors.
Coverage amounts: We consider the policies available, what they cover, and how much coverage they offer. We like to see a variety of options available, with a great deal of flexibility to cover as many needs and customers as possible.
Inclusions/Exclusions: We consider common inclusions and exclusions, and how much customers have to pay for certain benefits. For example, many companies offer preexisting condition waivers, but reserve this benefit for more expensive plans. Faye only has one travel insurance plan, but offers preexisting condition coverage when you purchase a policy within 14 days of your initial trip payment.
Cost: We obtain quotes for a variety of travelers, including single travelers, families, couples, and older travelers. We see how the quotes compare to the standard costs of travel insurance, which is between 4% and 8% of your total trip cost. We also pay attention to any savings opportunities travelers can take advantage of, like discounts for children.
Customer service: We consider how a company treats its customers by looking at online customer reviews on sites like Trustpilot, SquareMouth, and the Better Business Bureau. We also look at ratings from third-party organizations like the NAIC and AM Best. We look at any customer service features a company offers, like 24/7 helplines.
Unique features: We look to see if a company has any unique features or benefits. For example, the Faye Wallet offers a unique way to pay for expenses related to a covered event without having to pay out-of-pocket. It also facilitates quicker payouts on claims.
Read more about Business Insider’s travel insurance ratings methodology.
Yes, Faye travel insurance offers coverage for international trips, making it suitable for global travel, but it’s always important to check specific destination coverage in the policy terms.
Yes, Faye travel insurance offers an adventure and extreme sports protection rider, though it will significantly increase the cost of your travel insurance policy.
Faye travel insurance handles COVID-19 like any other illness when it comes to trip cancellations and medical emergencies.
Faye’s claims process is reportedly simple, with no paperwork required. Reports of claim wait times vary, but getting in touch with customer service is a reliable way to expedite the process.
Faye travel insurance stands out for its digital approach to travel insurance and its unique Faye Wallet, which expedites claims.
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