Best Travel Insurance Companies of 2021

The best travel insurance can cushion the financial blow in case of situations that upend an expensive, carefully planned trip. Whether you’re dealing with an unexpected illness, a death in the family, or a lost suitcase, all of these scenarios have the potential to ruin your plans and cost you money.

The Best Travel Insurance Companies of 2021

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    Even a late or missed flight can unravel your plans. If you were expected to board a flight to a new city after a short layover but missed your flight altogether, for example, you could wind up having to wait a day to get to your destination – or missing your trip altogether.

    But do you really need travel insurance? Probably. The good news is, if you paid for your trip with a credit card, you might already have credit card travel insurance benefits to cover all kinds of unexpected hiccups. It’s a question that will be tackled later in this article. For some, travel can be a significant purchase. If you fall into this category, relatively inexpensive travel insurance plans can protect your wallet from any of the above situations and more.

    This article covers some travel insurance basics, including what most plans cover, how to shop for the best plan, and whether you really need travel insurance in the first place — because it doesn’t make sense for everyone.

    The Best Travel Insurance Companies

    If you’ve decided travel insurance is a good bet for your upcoming trip, be sure to check out the companies below, all Simple Dollar top picks, while you shop around.

    Best Cheap Travel Insurance

    World Nomads

    WorldNomads offers a lot of bang for your buck. It isn’t quite the cheapest quote, but it isn’t far off. For just $132, you can insure a $4,000, two-week trip to France with beefier coverage than many other insurers offer at a similar price.

    Why We Like It: You can get up to $10,000 for both cancellation and interruption coverage ($4,000 and $6,000 would be standard), $100,000 in medical coverage, and even $3,000 for lost or stolen baggage or personal belongings. Most other insurers provide only $1,000 around this price. If you don’t mind a $2,500 cap on cancellation and interruption and just $1,000 baggage coverage, you can retain the same level of medical coverage and pay only $89 for the policy. World Nomads also covers more than 200 adventure activities like skiing and bungee jumping that would require expensive add-ons or exclude you from coverage with other companies.

    What to Watch For: World Nomads doesn’t offer group coverage or plans for travelers over 70. Because it only has two plan levels and lacks a lot of add-ons that other companies offer, coverage isn’t customized for everyone. Finally, luxury travelers won’t be able to get coverage with World Nomads, which only insures trips up to $10,000.

    Seven Corners

    Seven Corners has a wider range of plans than World Nomads, including plans for groups and students, expatriates, and even outdoor-sports enthusiasts. It also offers medical-only coverage. You can get a travel insurance quote that is $11 less than World Nomads, but the plan isn’t quite as robust. Still, it is better than most comparably priced plans.

    Why We Like It: Though trip cancellation and interruption was standard at $4,000 and $6,000, the medical coverage went up to an impressive $150,000, and $2,000 was available for lost or stolen baggage or belongings on the Round Trip Choice plan. Stepping up to the Elite plan would allow $250,000 in medical coverage and $2,500 for baggage.

    What to Watch For: At $94, their basic plan was a good value, but the $10,000 in medical coverage was much skimpier than World Nomads’ basic coverage.

    Best Travel Insurance for Coverage Options


    Travelex offers a more basic lineup of plans for leisure and business travelers, but they are still fairly customizable with upgrades. For instance, you can add on coverage for adventure activities, or busy professionals can tack on coverage that kicks in if their employer changes their work schedule. You’ll get three easy-to-compare plan choices: Basic, Select, or Max.

    Why We Like It: Travelex’s offerings are more readily understandable for a travel insurance newbie, and their website is easy to navigate. If you’re traveling with kids, take note: The Travel Select plan covers them for free. There are also helpful travel tips and FAQs. Travelex is BBB-accredited with an A+ rating.

    What to Watch For: The highest-priced Max plan will only allow you to insure a trip up to $50,000, and it only covers you for up to six months. You can’t add on a “cancel for any reason” rider unless you purchase the most expensive plan, and there is no pre-existing condition waiver available for their basic plan.

    Best Travel Medical Insurance

    HTH Worldwide

    While most travel insurers focus on trip cancellation plans that throw in travel medical insurance as an afterthought, HTH Worldwide focuses on comprehensive travel medical insurance that you can purchase separately from other travel plans.

    Their website offers two short-term plans: a preferred option with the most comprehensive coverage that requires you to have a primary health plan and an economy option that does not require another health plan but offers less coverage of pre-existing conditions. Other options include plans for groups, frequent travelers, expatriates, and students.

    Why We Like It: The easy-to-understand plan clearly states benefits, exclusions, and FAQs. An impressive mobile app helps travelers identify English-speaking providers and request an appointment wherever they are. There were flexible deductibles of up to $500 and coverage maximums that ranged from $50,000 to $1 million. Plans pay 100% of most health services after your deductible is met.

    What to Watch For: There’s no adventure sports coverage, and the economy single-trip plan has a long, 180-day pre-existing conditions exclusion.


    IMG has served more than a million people around the world since 1990, and it offers a dizzying array of travel medical plans. However, you can also purchase packages that include more traditional travel insurance benefits including trip cancellation and lost baggage.

    Why We Like It: IMG might be a good choice for niche travelers. While it offers plans for short-term and frequent travelers, groups, and students, it also provides niche policies for missionaries, marine crew members, and adventure sports. “Green” plans even allow eco-conscious travelers to shrink their carbon footprint.

    What to Watch For: Unfortunately, IMG’s website can be hard to wade through, with small print and far too many drop-down menus. They offer website-based account management, but no mobile app for travelers who have health issues on the road.

    Do You Need Travel Insurance?

    Travel insurance makes sense for some travelers, but make sure you’re among them before you shell out even more cash before your trip.

    Flights, hotels, and car rental can be pricey enough on their own. Factor that into a pre-scheduled range of activities, too. You can lose a lot of money if something prevents you from going, so shelling out a bit more on travel insurance can make sense.

    Here are some factors to consider when you’re debating whether travel insurance is worth the investment:

    How much are you spending?

    If you’re a budget traveler who’s only spending a few hundred bucks on a plane ticket and crashing on a friend’s couch when you get to your destination, the low expense (and risk) of your trip probably isn’t worth insuring.

    But if you’re spending $10,000 on a budget-busting honeymoon in Bali or heading to New Zealand for three weeks of adventure, that’s an investment you’ll want to protect.

    Are you traveling internationally?

    It makes more sense to buy travel insurance if you’re heading abroad. International travel is expensive, but the best travel insurance can also cover you for costly medical bills if you need care while overseas when your primary health insurance may not.

    If you’re young, healthy, and heading to well-traveled European destinations for run-of-the-mill sightseeing, travel insurance may not be necessary if you’re worried about expenses. However, if you have a family to consider, travel insurance shouldn’t be an afterthought.

    Are you booking travel during a time known for iffy weather conditions?

    It’s impossible to predict the weather, but some times of year are trickier than others. For instance, maybe a crucial leg of your trip is going into or out of Minneapolis or Chicago in January — prime time for blizzards or other nasty winter weather. Maybe you’re booking a Caribbean cruise in September, during peak hurricane season.

    In either case, travel insurance could cushion the financial damage if weather delays or cancels your trip.

    Are you already covered?

    While it’s relatively uncommon for most health insurance plans to offer more than partial coverage abroad, check your policy. Flight accident insurance that pays your family benefits if you die in a plane crash is probably redundant if you have life insurance.

    The same goes for travel insurers’ accidental death and dismemberment coverage. Your home insurance may even cover the cost of lost or stolen luggage and belongings.

    Your credit card may also offer some protection.

    If you pay for your trip with a credit card, you may have coverage for trip cancellation, delays, car rental insurance, or lost and stolen belongings. For instance, you may be able to opt out of rental car insurance if your credit card provides it.

    You’ll need to check the fine print that lists all of your credit card’s benefits. If there are travel insurance provisions, you’ll need to pay for part or perhaps all of the trip with that card to be covered.

    However, the benefits probably won’t be as extensive as those you’ll receive with the best travel insurance policies, and you may find that there are more exclusions: You may discover that your credit card doesn’t cover car rental insurance in particular countries because of high accident rates, for example.

    (If you want a credit card that offers great perks when you’re on the go, check out our guide to the best travel credit cards. These cards often offer great trip protection features as well as perks such as bonus points on travel, no foreign transaction fees, and concierge services.)

    Do you need the peace of mind?

    If all the “what-ifs” of travel keep you awake at night, spending a couple hundred dollars on travel insurance might be a good investment if it means you’ll be able to relax and enjoy your trip more. If you’ve spent weeks planning every leg of your trip, travel insurance could be a necessary comfort.

    What Does Travel Insurance Cover?

    Coverage will vary by company, but the best travel insurance plans protect against financial hardship resulting from trip interruption or cancellation, medical expenses, emergency evacuations, and lost or stolen belongings. Here are the main things you can expect travel insurance to cover:

    Trip interruption or cancellation: If you get sick, a family member dies, or a natural disaster foils your plans, cancellation coverage may help reimburse whatever nonrefundable costs you’ve already incurred. Terrorist attacks are also covered if an incident unfolds in your destination shortly before you leave. You may even be covered if your employer changes your schedule and requires you to work, you’re called for jury duty, or a crucial travel vendor goes belly up. Interruption coverage may cover you if your trip is cut short for similar reasons.

    Medical expenses: Many health insurance plans won’t cover you outside of the country; Medicare never does. Even if your insurer does cover some international expenses, out-of-network costs can still add up. You may even find that foreign care providers simply won’t help you until you pay for their services up front.

    Emergency evacuation: If you need to be evacuated from a remote spot for medical or security reasons, it could cost tens of thousands of dollars. Evacuation coverage helps pay to speed you to a nearby hospital or covers the price of a medical flight to the U.S. if needed.

    Lost or stolen baggage or belongings: While airlines have done a better job handling luggage in recent years, 5.53 bags per 1,000 passengers were still lost or mishandled at last count, according to a 2018 study from SITA. Most policies will pay up to a certain amount to compensate for this common travel scenario. The best travel insurance plans also reimburse you if you have to purchase items because your bags were delayed.

    Five Tips for Buying the Best Travel Insurance

    If you’re still feeling overwhelmed by your choices, remember that there is no single plan or provider that will be best for every traveler. Focus on where you’re going, what you’re doing, and what you’re spending to find the best travel insurance choice for you.

    Here are five tips that will help you shop for the best travel insurance for your needs:

    Tip No. 1: Carefully Consider Your Trip

    Are you going hiking in a remote part of the Amazon? Or are you planning an elaborate European vacation, with several flights to whisk you from one country to the next?

    While extreme, these examples illustrate how much your needs could vary. In the former case, you’d probably want to focus on medical and evacuation coverage; in the latter case, you may want a more traditional plan that has good allowances for trip cancellation or lost baggage.

    If you think there’s a decent chance that circumstances may force you to scrap a trip, you can get a “cancel for any reason” add-on for many more extensive travel insurance policies, but you’ll have to add it soon after buying. If you’re a daredevil, there are special plans for hazardous or extreme sports. If you’re heading to the Caribbean in September, you’ll want to make sure your plan covers weather-related cancellations and delays.

    You can also find a policy that covers some adventure activities, and you can make sure you’re covered for natural disasters if the region you’re traveling to is prone to earthquakes.

    Bottom line: Make sure you buy a policy that covers your unique risks, not someone else’s.

    Tip No. 2: Shop Around

    Travel insurance policies are complex products, so your best bet may be to start your search using a comparison site such as SquareMouth or InsureMyTrip.These sites have excellent search filters that will let you zero in on what you need and directly compare prices much more easily than shopping with individual insurers. You can compare travel insurance ratings to help inform your choice, as well.

    An experienced travel agent can also help you pick a policy, though some may earn commissions for steering you toward a certain company. Experts say it’s best to avoid buying a policy directly from your tour company or cruise line, however. These plans will only cover you for your time with that company, but not any other portion of your trip. And if the company goes under, your travel policy (and money) goes under with them.

    Tip No. 3: Keep an Eye on Your Budget

    Like any insurance product, the cost of a travel insurance plan will vary based on what kind of trip you’re insuring and what kind of coverage you select. Expect most plans to set you back roughly 4% to 10% of the cost of your trip — the greater the percentage, the more comprehensive the plan.

    Age also factors in — the older you are, the more you may pay. However, you may not pay anything for kids under 18 if they’re traveling with you.

    Tip No. 4: Be Careful of Exclusions and Loopholes

    If you have trip cancellation coverage, read the list of covered reasons carefully — they will be very specific. Consider whether paying extra for a policy that lets you cancel a trip for any reason is worth it, but note that not all policies will let you recover 100% of your costs.

    Even the best travel insurance will include other exclusions on other parts of your coverage, too. A few examples: Pre-existing medical conditions and pregnancy generally won’t be covered. Your stolen-belongings coverage won’t pay you back for a lost wad of cash. If civil unrest — even including deadly protests — suddenly make your destination unsafe, you’re probably out of luck.

    Tip No. 5: Buy as Soon as Possible

    Even though you can wait until closer to departure, it’s best to get your travel insurance squared away soon after making reservations. Every day you wait, there’s a chance something will happen that will affect your plans, but you can’t get a travel insurance policy after you know about it.

    For instance, if a Category 5 hurricane clobbers the Bahamas and ruins your trip, your travel insurance would cover you only if you purchased it before the hurricane formed. If terror attacks in a city have made you afraid to go, you’re probably out of luck unless you purchased travel insurance before the attacks occurred.

    You’d also be required to purchase coverage as soon as possible to get a waiver for certain pre-existing medical conditions or nab a policy that allows you to cancel for any reason, for example.

    Picking the Best Travel Insurance Companies

    To pick the best travel insurance for coverage options, focus on companies that offer a wide variety of plans to cover the largest range of trips, including short-term vacations, long-term travel and business trips. You should also consider what add-ons are available for travelers to customize their plans to their liking, and make sure the company doesn’t exclude coverage for very expensive trips. To whittle down your list, consider the ease with which shoppers can obtain a quote, compare plans and read “fine print” that tells them what is excluded from a plan.

    To pick the best cheap travel insurance, compare quotes for a 33-year-old’s $4,000, two-week trip to France, for example. Because most insurers offer several plans, you should compare prices for the cheapest that meet the following requirements: at least $4,000 in trip cancellation insurance; $6,000 in trip interruption; $50,000 for medical expenses; $500,000 for emergency evacuation; and $1,000 for lost or stolen baggage or belongings. Then compare the quality of coverage among the five lowest-price insurers to make your final picks.

    To pick the best travel medical insurance, focus on companies that offer a wide array of medical-only plans. Consider the flexibility available for customers to choose plans’ deductibles and coverage amounts, as well as quality of coverage (for instance, if you still had to pay co-insurance for services even after meeting your deductible).

    Because it can be hard to find quality medical providers on the road, you should also consider any ways a company eases that process (for instance, a mobile app or well-executed online account management).

    To Find the Best Travel Insurance, Read the Fine Print

    Having a clear idea of what your travel insurance will and won’t pay for can protect you from nasty surprises in the event of a claim. Consider starting your search by checking out the companies profiled above — all offer comprehensive, reputable plans to keep you covered on the road. Travelex are excellent options for travelers who want a wide variety of coverage options, while WorldNomads is a particularly good fit for globetrotters on a tight budget — especially if you have adventure activities on your agenda.

    Saundra Latham

    Contributing Writer

    Saundra Latham is a personal finance writer and editor. Her work has appeared in The Simple Dollar, Business Insider, USA Today, The Motley Fool, Livestrong and elsewhere.