The 7 best travel insurance companies of December 2022
You might know a lot about travel insurance, or you might be thinking about getting a policy for the first time because of your upcoming trip. In either case, many travelers know how hard it can be to plan a trip. You could plan a big trip for months, only to get sick, have a family emergency, etc. You might have to cancel your trip because of something good, like a new baby in the family or a wedding. Travel
nsurance is also helpful if your flight is late, canceled, or you lose your luggage.
A complete insurance plan should cover your costs in case something goes wrong. Here are the travel insurance companies that we think will be the best in 2022.
best travel insurance companies
Best overall: Nationwide
BEST TRAVEL INSURANCE OVERALL
Well-rounded alternative: AXA
WELL-ROUNDED ALTERNATIVE FOR BEST TRAVEL INSURANCE OVERALL
Best insurance plan for cruises: AIG Travel Guard
BEST PLAN FOR CRUISES
Most reputable provider: Berkshire Hathaway
REPUTABLE TRAVEL INSURANCE PROVIDER
Best for travelers with pre-existing conditions: Tin Leg
BEST FOR TRAVELERS WITH PRE-EXISTING CONDITIONS
Best for backpackers, study-abroad students, and digital nomads: WorldTrips
BEST FOR BACKPACKERS AND DIGITAL NOMADS
Best low-cost option: Trawick
Our methodology
To make our list of the best travel insurance companies, we looked at the following things about each company:
Cost
The US Travel Insurance Association says that a good travel insurance premium costs between 4% and 8% of the total cost of the trip. Anything that costs more than that should come with extra benefits on top of the standard ones, like CFAR protection or better medical coverage. If your coverage is less than 4%, you may not have enough or important coverage in case of an emergency.
Comfort and adaptability
Whether you travel once a year or every week, a good travel insurance company should take care of you. You might not even have to talk to a person to buy your policy in many cases.
Many people think of travel insurance in terms of specific trips, but most of these top companies sell both single-trip policies and multi-trip policies, which are also known as annual travel insurance. Some companies also have plans for cruisers, college students going abroad, and business travelers. Lastly, each of these providers gives you more than one way to get the coverage you want in the places and amounts you want.
Types of coverage and amounts
All of the companies on this list offer enough coverage in key areas to make a big dent in any out-of-pocket costs you might have while traveling abroad, but it is still up to you to buy enough coverage for your needs. Some companies might not offer certain add-ons or have high limits in some categories, but all of them cover the most important parts of comprehensive travel insurance.
Dealing with claims
Most people who travel never have big claims. The premiums are low, and it gives you peace of mind in case something goes wrong. So, they write reviews based on how much their stress has gone down. But what if you lose your luggage or have an accident that makes you have to stay a few extra days? Will your insurance company pay your claim without a lot of trouble? We check reviews from real customers to help you figure this out.
Easy to use and get help with
You may need extra help when you buy the policy, during your trip, and when you file a claim. Does the company have a help line that's open 24/7? Does it have a self-service system that you can use online or on your phone? What, if anything, can you do when you need help? We look at the big picture to figure out how most customers feel about each business.
How to choose the best company for your travel insurance
There is no one policy that works perfectly for every traveler. Young, healthy solo travelers can choose much cheaper plans that only cover the basics. Families with complicated travel plans, on the other hand, should buy a more comprehensive policy that can help cover the costs of lost luggage, transportation delays, and other problems that can ruin a trip.
So, you can't go wrong with a travel insurance company that has been around for a long time and has a wide range of plans that you can change to fit your needs. In some cases, you might be deciding between plans that only differ by a few dollars. When this happens, you should usually choose the insurance company with the best customer service and the best reviews from other travelers, especially if they've been on trips like yours.
One of the best ways to look for travel insurance is to use an insurance aggregator like InsureMyTrip or Squaremouth. Once you type in the details of your trip, you'll see hundreds of search results that you can compare to find the best one. If there are too many options, use the filters on the left side of your search page to get rid of as many of the ones that don't matter.
Note about COVID-19: In the first few months of the pandemic, most travel insurance companies did not cover travel problems caused by COVID. But over time, many providers have changed to cover the coronavirus in their health plans.
Still, you should read the fine print on any plan you choose, especially cheaper ones with limited coverage, to make sure that you have enough protection to feel safe. Also, keep in mind that COVID-related problems are still not covered by a lot of credit card travel insurance policies.
Find out more about who won
AIG Travel Guard
This well-known insurance company is a good choice for travelers who want to make sure they can get their money back if their travel plans are canceled or cut short.
Even though the company's policies can be more expensive than those of its competitors, AIG is a good choice for older travelers who value peace of mind and simplicity over highly customizable plans that may be strengthened with medical upgrades.
AXA Travel insurance
AXA gives people a great option for worry-free travel insurance: low-cost plans with generous coverage limits on key categories like primary insurance for lost luggage and up to 150% reimbursement for qualifying trip cancellations.
Even though there aren't many add-ons and rental car coverage isn't included in cheaper plans by default, AXA is a great choice for travelers who don't plan to drive (or who already have credit cards that cover rental cars) and don't need any extra bells and whistles.
Learn more about AXA Assistance USA travel insurance by reading our full review.
Trip Protection from Berkshire Hathaway
The best thing that can happen on a trip is that you don't need your travel insurance. But Berkshire Hathaway helps travelers make the best of bad situations by making filing a claim as easy as taking a picture and sending some basic paperwork through a special app.
Approved claims are also paid out quickly, which makes it easier to continue a trip when luggage is lost or last-minute changes need to be made.
Nationwide insurance for travel
One of the biggest players in the travel insurance market gives customers almost unlimited options, including annual plans that let frequent travelers "set it and forget it" when it comes to their insurance coverage.
Nationwide also has some of the most affordable policies on the market compared to similar plans from other companies, which makes it a great choice for almost anyone.
Tin Leg insurance for trips
Tin Leg is a great choice for travelers who have health problems. This company is one of the best places to invest money for travelers who are or will be exposed to higher health risks and issues. It covers pre-existing medical conditions and COVID-19 infections that could happen while traveling.
Trawick International Trawick is another insurance company with a strong medical background that can help travelers who are more likely to get sick or who are worried find peace of mind while they are on the road. This company has one of the best medical evacuation policies on the market, but travelers will need to remember to add rental car coverage if they need it.
WorldTrips
WorldTrips is a great choice for digital nomads, students studying abroad, and backpackers because its premiums are low, its add-ons are easy to change, and it offers a lot of coverage for the most important types of travel insurance.
But travelers should know that plans aren't very flexible and coverage amounts are limited unless you plan ahead and pay for the areas and amounts you need.
The credit card in your wallet is a close second.
Even if you don't believe it, many credit cards on the market today offer travel insurance plans that are as good as or better than the ones offered by our top-choice providers.
The Platinum Card® from American Express comes in a close second to the Chase Sapphire Reserve® when it comes to comprehensive travel insurance.
If you don't like the sky-high annual fees on those cards, the Capital One Venture X Rewards Credit Card and the American Express® Gold Card are good alternatives with travel insurance that cost $395 and $250 per year, respectively.
And don't forget about the Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card. Each card has strong coverage for travel interruptions, cancellations, lost bags, and delays that is equal to or even better than many mid-range travel insurance plans.
Each of these credit cards has a travel insurance feature that can give you up to $3,000 per trip for lost or damaged luggage, up to $2,000 to $10,000 per trip for canceled, nonrefundable travel like flights or hotels, and primary coverage for rental cars.
Post a Comment for "The 7 best travel insurance companies of December 2022"