The best travel insurance companies in the US

The best travel insurance companies in the US | Insurance Business America

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The best travel insurance companies in the US

Travel insurance companies in the US provide travelers with a myriad of policies to choose from. Which ones offer the best coverage? Read on and find out

Travel insurance is a type of policy designed to protect you financially if an unforeseen event threatens to disrupt your travel plans. In the US, travelers have a myriad of options when it comes to this type of coverage, which begs the question – which travel insurance companies offer the best protection?

To help narrow down your choices, Insurance Business ranks the top travel insurers in the country based on the kind of coverage they deliver. But since each traveler comes with a unique set of needs, there’s no clear-cut number one choice for everyone. This is why we decided to arrange the list alphabetically.

Here are our picks for the best travel insurance companies in the US.

1. Allianz Global Assistance

Allianz Global Assistance is the travel insurance and corporate assistance services arm of insurance giant Allianz SE. The company has a portfolio of 10 travel insurance plans designed to suit the needs of distinct types of travelers. The portfolio consists of:

Five single-trip policies: OneTrip Basic, OneTrip Emergency Medical, OneTrip Prime, OneTrip Premier, OneTrip Cancellation Plus
Four annual or multi-trip plans: AllTrips Basic, AllTrips Executive, AllTrips Prime, AllTrips Premier
One rental car cover: OneTrip Rental Car Protector

The travel insurance company’s most popular product is the OneTrip Prime plan, which provides each insured traveler these key features and benefits:

Epidemic coverage, which includes COVID-19-related events
Trip cancellation cover, up to $100,000
Trip interruption cover, up to $150,000
Emergency medical cover, up to $50,000
Emergency medical transportation cover, up to $500,000
Baggage loss or damage cover, up to $1,000
Baggage delay cover, up to $300
Travel delay cover, up to $800 with a daily limit of $100
Trip change protector, up to $500
SmartBenefits, a fixed convenience fee of up to $100 per day, up to the maximum no-receipts limit
24-hour hotline assistance and concierge services

Policyholders also have the option to purchase cancel-for-any-reason (CFAR) coverage. This add-on reimburses up to 80% of the total non-refundable expenses of your trip, which is higher than the 50% to 75% standard with other travel insurance companies. This option is also available for OneTrip Premier plans, which provides the same types of protection as Prime, but double the limits.

2. AXA Assistance USA

AXA Assistance USA, a subsidiary of insurance giant AXA, specializes in travel insurance for customers in the US. It offers three levels of protection – Silver, Gold, and Platinum – which offer varying levels of cover at different price points.

If you want a plan that has the highest level of cover, then the Platinum travel insurance plan is the best option. It has these features:

Trip cancellation protection, up to 100% of the trip cost
Trip interruption cover, up to 150% of the trip cost
Trip delay coverage, up to $1,250 with a daily limit of $300
Missed connection coverage, up to $1,000
Emergency accident and sickness coverage, up to $250,000
Emergency medical evacuation cover, up to $1 million
Non-medical emergency evacuation, up to $100,000
Accidental death and dismemberment cover, up to $50,000
Common carrier accidental death and dismemberment cover, up to $100,000
Baggage delay cover, up to $600
Baggage and personal effects cover, up to $3,000
Cover for lost skier days, up to $25 per day
Cover for lost golf rounds, up to $500
Sports equipment rental cover, up to $1,000

Travelers can also take out CFAR coverage, which reimburses 75% of the trip cost, and collision damage waiver with a maximum limit of $50,000 as add-ons. All AXA Assistance USA travel insurance plans come with a 10-day money-back guarantee.

 3. Berkshire Hathaway Travel Protection

Berkshire Hathaway Travel Protection (BHTP) is a travel insurance specialist and a subsidiary of the Warren Buffet-owned conglomerate Berkshire Hathaway. It offers three levels of coverage:

ExactCare Value
ExactCare
ExactCare Extra

ExactCare Extra, which the insurer describes as “comprehensive travel insurance + innovative flight protection,” provides the highest level of protection. This includes:

Trip cancellation cover, up to 100% of the trip cost
Trip interruption cover, up to 150% of the trip cost
Medical expenses cover, up to $50,000
Emergency evacuation and repatriation of remains, up to $500,000
Lost baggage cover, fixed at $500
Trip delay cover, up to $1,000
Mixed connection cover, fixed at $100
Tarmac delay cover, fixed at $1,000
Flight departure delay cover, fixed at $50
Baggage delay cover, fixed at $150
Accidental death and dismemberment, up to $10,000
Car rental collision coverage, up to $35,000

All BHTP’s travel insurance plans include 24-hour worldwide travel assistance. The company also offers policies tailored for flights, cruises, and adventure sports.

4. Generali Global Assistance

Generali Global Assistance (GGA) is a full-service travel insurance and corporate assistance provider and a subsidiary of the Europ Assistance (EA) Group. Its travel policies consist of the Standard, Preferred, and Premium plans, with the last offering the widest coverage and highest limits.

The Premium plan has the following features:

Trip cancellation coverage, up to 100% of the trip cost
Trip interruption protection, up to 175% of the trip cost
Travel delay coverage, up to $1,000 with a $300 daily limit
Baggage coverage, up to $2,000
Baggage delay cover, up to $500
Sports equipment cover, up to $2,000
Sports equipment delay cover, up to $500
Missed connection cover, up to $1,000 per person
Medical and dental cover, up to $250,000 per person
Emergency assistance and transportation cover, up to $1 million
Accidental death and dismemberment caused by air flight accident, up to $100,000 per person and up to $200,000 per plan
Accidental death and dismemberment caused by travel accident, up to $50,000 per person and up to $100,000 per plan
Rental car damage cover, up to $25,000

Policyholders also have access to 24-hour travel assistance, concierge services, and identity theft resolution. Cancel-for-any-reason cover, which reimburses 60% of the non-refundable trip expenses, can be purchased as well.

5. HTH Worldwide

HTH Worldwide offers three tiers of coverage: Economy, Classic, and Preferred plans, which are underwritten by Nationwide Mutual Insurance Company. Travelers looking for the most comprehensive level of coverage can benefit from taking out the Preferred travel insurance plan. Its features are grouped into two categories:

Travel protection benefits

Trip cancellation cover, up to 100% of the trip cost or a maximum of $50,000
Trip interruption cover, up to 200% of the trip cost
Baggage and personal effects, up to $2,000, with a $500 per item limit
Baggage delay cover, up to $400 for a minimum delay of 12 hours
Trip delay cover, up $2,000 for minimum delay of six hours with a daily limit of $200
Rental car damage cover, up to $35,000 (not available in New York and Texas)
Missed connection cover, up to $1,000

Travel medical benefits

Accident and sickness benefits cover, up to $500,000 per person
Dental expenses cover, up to $1,000
Doctor inpatient and outpatient office visits, up to 100% of the cost
Outpatient prescription drugs outside the US, up to 100% of the cost
Pet medical expenses cover, up to $250 (not available in Massachusetts, New York, and Washington)
Accidental death and dismemberment cover, up to $50,000
Accidental death and dismemberment caused by common air carrier, up to $100,000
Repatriation of remains, up to $25,000
Emergency evacuation cover, up to $1 million

The policy also covers pre-existing conditions, but only if purchased within 21 days after the initial trip deposit. CFAR coverage can likewise be added, allowing policyholders to reimburse up to 75% of the non-refundable trip costs.

HTH Worldwide is a leading health insurance provider, which explains its comprehensive travel medical benefits. The company also has a portfolio of travel medical plans. You can learn more about how travel medical insurance works in this detailed guide.

6. Nationwide

Nationwide is one of the most recognizable names among the travel insurance companies on our list. A Fortune 500 firm, Nationwide offers a wide range of personal and commercial policies and is ranked among the best insurance companies to work for in the US.

Nationwide offers the Essential and Prime travel insurance plans, with the latter providing wider coverage, including:

Trip cancellation cover, up to $30,000
Trip interruption cover, up to 200% of the non-refundable tour costs or $60,000 maximum
Trip delay cover, up to $2,000 for six or more hours with a daily limit of $250
Missed connection cover, up to $500
Itinerary change cover, up to $500
Baggage and personal effects cover, up to $2,000 with a $250 per article limit and $500 combined limit for valuable items
Baggage delay cover, up to $600 for a minimum of 12 hours
Accident and sickness medical expense coverage, up to $150,000, with up to $750 emergency dental coverage
Emergency medical evacuation and repatriation of remains, up to $1 million

7. Seven Corners

Seven Corners is a travel insurance specialist, offering a range of policies to Americans and non-US residents. Its Trip Protection Choice travel insurance plan includes the following coverage:

Trip cancellation cover, up to 100% of the trip cost
Trip interruption or delay cover, up to 150% of the trip cost
Baggage cover, up to $2,500
Baggage delay cover, up to $600
Missed connection cover, up to $1,500
Emergency medical coverage, up to $500,000

Pre-existing conditions can also be covered if the add-on is purchased within 20 days of the initial trip deposit. Policyholders can likewise customize the plans with additional riders such as rental car protection and CFAR coverage to match their needs.

8. Tin Leg

Specialist Tin Leg was founded by travel insurance marketplace Squaremouth in 2014. It has since offered travelers an array of travel policies, ranging from budget-friendly basic plans to comprehensive coverage.

Travelers looking for substantial protection from the travel insurance company can choose to take out the Luxury Plan, which has the following key features:

Cover for COVID-19-related cancellation
Trip cancellation cover, up to 100% of the trip cost
Trip interruption cover, up to 150% of the trip cost
Emergency medical cover, up to $100,000
Medical evacuation and repatriation cover, up to $250,000
Travel delay cover, up to $2,000 after six hours with a daily limit of $150
Baggage delay, up to $200 per person after 24 hours
Baggage and personal items loss coverage, up to $500 with a $100 first-item limit, $100 limit for subsequent items, and $500 specific-items limit
Missed connection cover, up to $100 per person after a three-hour delay

Travelers can also access 24-hour travel assistance, and identity theft and concierge services. In addition, they have a money-back guarantee within 15 days of purchasing the policy.

9. Travelex

Travelex is one of the leading travel insurance companies in the US. It was established in 1996 when the Travelex Group acquired the travel insurance distribution unit of Mutual of Omaha Companies. In 2016, Travelex expanded its global footprint by becoming a part of the Cover-More Group, a wholly owned subsidiary of insurance giant Zurich.

Travelex’s portfolio consists of Travel Basic and Travel Select. The Travel Select plan provides a broader coverage, which includes the following benefits:

Trip cancellation cover, up to 100% of the trip cost or a maximum of $50,000
Trip interruption cover, up to 150% of the trip cost or a maximum of $75,000
Trip delay cover, up to $2,000 with a daily sublimit of $200 and after a minimum delay of five hours
Missed connection cover, up to $750 after a minimum delay of three hours
Emergency medical expense cover, up to $50,000, with a dental coverage sublimit of $500
Emergency medical evacuation and repatriation of remains, up to $500,000 with an escort coverage limit of $25,000
Baggage and personal effects cover, up to $1,000
Baggage delay cover, up to $200 after a minimum delay of 12 hours
Sports equipment delay cover, up to $200 after a minimum delay of 24 hours
Accidental death and dismemberment cover, up to $25,000

Children 17 years old and younger who are traveling with the policyholder are also covered free of charge. The plan can be upgraded to include car rental protection and CFAR coverage, among others.

10. World Nomads

World Nomads is a provider of international travel insurance and travel safety services. The insurer offers customizable travel insurance plans, but what sets some of its policies apart from that of other travel insurance companies is the more than 200 adventure sports covered. You can choose between the more affordable Standard Plan and the more comprehensive Explorer Plan, which has the following benefits:

Trip protection cover, up to $10,000
Emergency medical cover, up to $100,000
Emergency evacuation cover, up to $500,000
Personal items cover, up to $3,000

World Nomads also provides 24-hour travel assistance services to its policyholders.

Travel insurance is a type of policy designed to cover expenses arising from health-related and medical emergencies and disruptions to your travel itinerary. You can purchase either a single-trip plan good for one-time travel, or an annual or multi-trip policy, which covers all travels made during the year and suits frequent flyers.

As you may have noticed from the list of coverage from the country’s top travel insurance companies, most policies cover:

Trip cancellation and interruption: Reimburses non-refundable or transferable costs if a trip does not push through due to a covered event. There are also some policies that pay out for unplanned hotel stays, meals, and rebooking flights.
Baggage loss or delay: Covers the cost of personal items up to a specified limit if your baggage is lost, delayed, or damaged during your trip.
Flight delay: Pays out for accommodation and meal expenses if your flight is delayed for more than a specified time. Most policies also cover the cost incurred if you miss your connecting flight due to a delay.
Emergency medical expenses: Covers the cost of emergency medical care, including hospital bills, doctors’ fees, and treatment expenses. Policies typically pay out repatriation and quarantine costs as well.

Here’s a short explainer on how travel insurance works:

You can expect to pay between 4% and 8% of the overall trip cost for your travel insurance, according to figures from the US Travel Insurance Association (USTIA). If you’re spending around $1,000 for your vacation, expect to shell out about $40 to $80 for travel coverage.

Apart from your travel cost, the amount you pay for your premiums is influenced by your destination, length of trip, and level of coverage.

If there’s one thing that recent global events have taught us, it is how just a single incident can prove costly and disruptive to our trip. That’s why many industry experts advise travelers to purchase travel insurance, especially for overseas trips. Some even compared the importance of having coverage with that of carrying our passports as unexpected events can happen in a snap.

Travel insurance remains an essential tool that provides financial protection when unforeseen incidents happen while we are far from home.

The travel industry is on the rebound and with it, the travel insurance industry is once again beginning to flourish. If you want to keep abreast of the latest developments within the sector, be sure to visit and bookmark our Travel Insurance News section where you can access breaking news and industry updates.

What do you think of the top travel insurance companies in our list? Have you experienced taking out a policy from them? How was it? Feel free to share your story below.

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