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Travel insurance can be polarizing, but this guide isn't about whether it's worth it — it's about comparing the top providers to help you find the best option for your next trip.
In this guide, we'll review policies from seven top travel insurance providers so you can better understand your options before choosing a specific policy and provider.
Here's an overview of the travel insurance providers I'll discuss in this guide:
I considered several details while putting together this list of the best travel insurance providers, including favorable ratings from travelers who have used these providers, the availability of details about policies and the claims process online, and the ability to purchase policies in most U.S. states.
Related: Should you get travel insurance if you have credit card protection?
Many travelers regard Allianz highly, including those who have needed to file claims with the provider. Allianz offers single-trip and annual plans that cover multiple trips of 45 (or 90 in the case of AllTrips Premier) days or less.
Some Allianz plans don't include trip cancellation and interruption insurance, which can be ideal if you usually book award flights and hotels that you can freely cancel until shortly before your trip or feel you're already getting these protections through your travel rewards cards.
Why consider Allianz Travel Insurance?
Purchase your policy here: Allianz Travel Insurance
American Express Travel Insurance offers four package plans and a build-your-own-coverage option. You don't need to be an American Express cardholder to purchase this insurance.
Amex's build-your-own-coverage plan is unique because you can purchase just the needed coverage. For most types of protection, you can even select the coverage amount that works best for you.
Why consider American Express Travel Insurance?
Purchase your policy here: American Express Travel Insurance
GeoBlue differs from most other providers in this piece because it only provides medical coverage. There are many different policies, but some require primary health insurance in the U.S. (although it doesn't need to be provided by Blue Cross Blue Shield), and most don't offer medical coverage within the U.S.
Three general plans fit the needs of most travelers, with options for single-trip coverage, multitrip coverage and long-term stints outside the U.S. However, special plans also provide options for specialty travel, studying abroad and working abroad.
Why consider GeoBlue?
Purchase your policy here: GeoBlue
IMG offers comprehensive travel insurance, travel medical insurance and international health insurance policies. You can customize many policies, including setting policy maximums on health insurance, covered trip lengths on multitrip medical insurance and more. This customization may let you create a customized plan that gives you what you need at a low rate.
Why consider IMG?
Purchase your policy here: IMG
Travel Guard offers three standard plans online, which you can compare side by side. But what sets Travel Guard apart from many other providers in this article is the ability to add a wide variety of optional coverage and bundles to these plans.
You can also buy an annual travel insurance plan through Travel Guard that covers multiple trips of up to 90 days. And if you book a last-minute trip, Travel Guard's single-trip policy without trip cancellation protection might be worth considering.
Why consider Travel Guard?
Purchase your policy here: Travel Guard
Travelex offers four single-trip plans, each with some optional upgrades. One plan doesn't include trip cancellation protection, making it ideal for refundable and last-minute trips. The other three plans differ primarily in their coverage maximums and inclusions.
Why consider Travelex Insurance?
Purchase your policy here: Travelex Insurance
World Nomads is more expensive than many other providers discussed in this article. However, it remains popular with active travelers because it covers many adventure activities.
It offers three single-trip plans, each covering one trip of up to 180 days, and one annual plan, covering multiple trips within 12 months of up to 45 days each.
Why consider World Nomads?
Purchase your policy here: World Nomads
This guide details the policies of seven providers with the information available at the time of publication. There are many options when it comes to travel insurance, though. To compare different policies quickly, you can use a travel insurance aggregator like InsureMyTrip or SquareMouth to search. Just note that these search engines won't show every policy and every provider, and you should still research the provided policies to ensure the coverage fits your trip and needs.
You can also purchase a plan through various membership associations, such as USAA, AAA and Costco. Typically, these organizations partner with a specific provider, so if you are a member of any of these associations, you may want to compare the policies offered through the organization with other policies to get the best coverage for your trip.
Related: Valuable travel perks that you can get with a credit card
Whether you should purchase travel insurance is a personal decision. Suppose you use a credit card that provides travel insurance for most of your expenses and have medical insurance that provides adequate coverage abroad. In that case, you may be covered enough on most trips to forgo purchasing travel insurance.
However, suppose your medical insurance won't cover you at your destination and you can't comfortably cover a sizable medical evacuation bill or last-minute flight home. In that case, it may be worth purchasing travel insurance. Buying an annual multitrip policy may be worth it if you travel frequently.
Related: 7 times your credit card's travel insurance might not cover you
Travel insurance usually offers some of the following types of coverage:
Related: Comparing travel protections with the Chase Sapphire Reserve and Amex Platinum
Travel insurance costs depend on various factors, including the provider, the type of coverage, your trip cost, your destination, your age, your residency and how many travelers you want to insure. A standard travel insurance plan will generally set you back somewhere between 4% and 10% of your total trip cost. However, this can be lower for more basic protections or become even higher if you include add-ons like cancel-for-any-reason protection.
The best way to determine how much travel insurance will cost is to price out your trip with a few providers discussed in the guide. You can also visit an insurance aggregator like InsureMyTrip or SquareMouth to quickly compare options across multiple providers.
Related: My 4 top travel credit cards — and how they elevate my trips
For the most robust selection of available travel insurance benefits — including time-sensitive add-ons like cancel-for-any-reason protection and waivers of preexisting conditions for eligible travelers — you should ideally purchase travel insurance on the same day you make your first payment toward your trip.
Some providers may still offer a preexisting conditions waiver if you buy travel insurance within 14 to 21 days of your first trip expense or deposit. But if you don't need a preexisting conditions waiver and aren't interested in cancel-for-any-reason coverage, you can purchase travel insurance once your departure date nears.
However, you'll usually need to purchase your plan before departure, and you must always buy travel insurance before you know you need it. Once you recognize the need, it's too late to protect your trip.
Once you've shopped around and decided upon the best travel insurance plan for your trip, you can almost always complete your purchase online. You'll usually be able to download your insurance card and the complete policy shortly after the transaction.
Related: The best no-foreign-transaction-fee credit cards
Not all travel insurance policies and providers are equal. Before buying a plan, read and understand the policy documents. This will help you choose a plan appropriate for you and your trip.
For example, if you plan to go skiing or rock climbing, make sure the policy you buy doesn't exclude these activities. Likewise, if you're making two back-to-back trips during which you'll be returning home for a short time in between, be sure the plan doesn't terminate coverage at the end of your first trip.
Finally, if you're looking to cover a sudden recurrence of a preexisting condition, select a policy with a preexisting condition waiver and fulfill the requirements for the waiver. After all, buying insurance won't help if your policy doesn't cover your losses.
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