The 4 Best Travel Insurance Companies

Planning a trip can be a lot of fun: researching amazing bucket-list activities, daydreaming about picture-perfect beaches and epic hikes, booking the cheap flights that will take you to the world’s most amazing destinations. Planning gives you ownership of your trip and lets you imagine all the wonderful adventures you’ll have.

What is significantly less fun (yet equally important) is searching for the right travel insurance plan for your trip.

Reading through the fine print, searching out reviews you can trust, picking the best plan — it can be a little tedious.

It can also be a little overwhelming.

There are hundreds of companies out there, all offering seemingly similar plans. But they all have different prices too. Which one is the best? Which review is right?

To help you figure it all out, I wanted to share my thoughts on the best travel insurance companies on the market. I’ve been backpacking since 2004 and researching companies for a living since 2007. I’ve spent a lot of time reading the fine print. (Have you ever read NY’s insurance compliance laws? Well, don’t.)

To save you time, I’ve compiled a list of the best travel insurance companies. Whether you’re heading south to escape from winter or traveling abroad on a round-the-world trip, this list will help you find a company that works for you and your budget.

 

OUR TOP PICK: SafetyWing

SafetyWing is one of the newer players in the travel insurance world. It’s a Norwegian startup based out of California specifically focused on remote workers and digital nomads. You don’t have to set an end date for your trip, as the monthly subscription will simply renew until you cancel (which you can do at any time). To me, they are the best overall company out there. They offer really affordable and robust policies.

Here’s a quick overview of SafetyWing’s Essential plan:

• Offers super affordable monthly plans
• Plans can be purchased at home before you go or abroad after you’ve departed
• Claims can be filed online
• After being abroad for 90 days, you keep your medical coverage for 30 days in your home country (15 in the U.S.)
• Up to 2 children under 10 per family (1 per adult) can be included on your plan free of charge
• Up to $5,000 USD for trip interruption (with no deductible)
• Best for digital nomads and frugal travelers

Additionally, electronics such as phones, laptops, and cameras are not covered as part of their Essential policy (you can buy an electronics theft add-on though). If the items are checked luggage and are lost/stolen, you can get reimbursed up to $500 USD per item, but who checks their expensive items?

Pros

• Super affordable
• Offers some COVID-19 coverage
• Backed by a single insurance company
• Covers up to age 69
• Can buy while traveling
• Monthly subscription model so you can cancel anytime
• No deductible for standard claims
• Fast response time (average claim takes 4 days to process)

Cons

• No trip cancellation coverage (and only minor trip delay coverage)
• Payout by wire transfer only (no direct deposit)
• Limited coverage for your gear and adventure activities

SafetyWing is a good option for anyone traveling on a tight budget who just needs basic emergency coverage. If you want some medical coverage, don’t care about your electronics or robust trip cancellation or interruption, and just want an inexpensive plan, SafetyWing’s Essential plan is the best.

Monthly plans start at $56.28 USD per month for travelers 18-39 years old. If you will be traveling in the USA, monthly plans cost $104.44 USD per month.

If you just want basic “I just want to be covered for the big stuff” coverage, this company is it (read more in our SafetyWing review). They also have a Complete plan with even more robust coverage (it’s not as cheap, but it’s still very affordable).

Get a policy with SafetyWing
 

World Nomads

World Nomads offers comprehensive plans for adventurous travelers who plan to do things like hiking, kayaking, canoeing, and even some extreme sports like rock climbing or bungy jumping. With 200 different activities covered, World Nomads is the best choice for active travelers.

Here’s a quick overview of World Nomads:

• Emergency medical and dental coverage
• Coverage for trip cancelations, delays, and interruptions
• Baggage protection
• Emergency evacuation (for medical emergencies and non-medical emergencies such as natural disasters)
• Medical transportation
• 24/7 customer assistance
• Coverage for some COVID-19 medical costs

Pros

• Tiers for basic and premium coverage
• Delay and cancellation coverage
• Can submit a claim after your trip ends
• Covers a wide range of adventure activities
• Offers some COVID coverage
• Everything can be done via the website
• Trusted by brands like Lonely Planet, Eurail, and Intrepid Travel

Cons

• Claims paid by check
• No car rental coverage on the Standard Plan
• No “cancel for any reason” coverage
• Does not cover pre-existing conditions

Prices vary based on your age and country of residency, as well as where you’re going and for how long. Generally, a two-week policy costs around $100 for the Standard Plan, while an Explorer Plan is closer to $200 USD.

Learn More
 
World Nomads provides travel insurance for travelers in over 100 countries. As an affiliate, we receive a fee when you get a quote from World Nomads using this link. We do not represent World Nomads. This is information only and not a recommendation to buy travel insurance.
 

Medjet

Medjet is the premier membership program for medical transportation. Its extensive plans focus on crisis response and emergency transportation, with amazing staff on hand to help you through it all.

Most insurance companies just evacuate you to the nearest hospital in an emergency, but as a membership program, Medjet goes above and beyond to ensure that you’re repatriated (i.e. sent back to the country you live in). You won’t be stuck in a foreign medical facility away from your friends and family.

There are both short-term and annual plans, too, so no matter what your travel plans are, you’ll be able to find the affordable coverage that you need.

Here’s a quick overview of Medjet:

• Extensive medical transport coverage that will get you home
• Allows you to determine to which medical facility to be moved
• Does not require government-issued warnings to initiate evacuation
• Medical transfer available in the US as well as abroad
• Both short-term and annual plans
• Available for residents of the US, Canada, and Mexico
• Language translation assistance and liaises with foreign hospital staff for you

Pros

• Will get you home (not just to the nearest “acceptable” medical facility)
• Affordable annual plans
• Two tiers of coverage: basic and premium plans
• Offers global coverage for COVID-19
• Offers coverage up to age 74 (with potential extended coverage to 84)

Cons

• Only available to North American travelers (US, Canada, Mexico)
• No trip cancellation, trip delay, or baggage coverage
• Must purchase before you leave home

Medjet is the perfect company for anyone looking to avoid time spent in foreign medical facilities should an emergency or crisis occur. It’s a great supplement to more basic travel insurance plans, especially if you’re worried about being transported home. Learn more in my comprehensive Medjet review.

Annual plans for global coverage start as low as $315 USD per person.

Get a policy with Medjet
 

InsureMyTrip

InsureMyTrip isn’t actually an insurance company that issues its own plans. Rather, it is a marketplace where you can search for plans, helping you compare prices and coverage so you can buy the plan that’s best for you. Think of it as a Skyscanner but for travel insurance.

With InsureMyTrip, you can compare plans from over 20 different insurance providers. It’s a great resource for senior travelers since many of the providers they recommend offer coverage for those over 65. Moreover, they offer “cancel for any reason” insurance, so, if you cancel your trip for any reason, even ones not listed under regular policies, you’ll get a percentage of your trip back.

Here’s a quick overview of InsureMyTrip:

• Guaranteed low prices
• Coverage for senior travelers over 65
• “Anytime advocates” ask the insurer to give your claim a second look if you think it was unfairly denied.
• Comparisons from over 20 different companies to ensure you get the best plan
• Accommodation coverage if quarantined at your destination
• Reviews of each policy so you can see what other travelers say
• Coverage for travelers on cruises

Pros

• Tons of plans available
• Options for senior travelers
• Assistance with denied claims
• Offers “cancel for any reason” (CFAR) plans

Cons

• Since it’s a third-party service, you’re dealing with a middleman
• Can be a bit overwhelming to sort through the different plans

Since InsureMyTrip is an aggregator, prices will vary based on your trip destination, country of residency, and travel plans.

Get a policy with InsureMyTrip
 

Honorable Mention: Credit Card Coverage

While not the most comprehensive, many travel credit cards include some degree of travel insurance. Coverage is often limited and might only apply to trips or items purchased with the card. And there may be limited dates of coverage too.

However, something is better than nothing!

That said, while it can be tempting to rely on the free travel insurance from your credit card company, their plans are usually not that comprehensive and have minimal coverage and/or limited compensation. This is especially the case with anything medical, as credit card travel insurance tends to focus on trip delays, cancellations, and interruptions. These free plans are best used as supplemental coverage in addition to a plan from one of the companies above.

But it’s always great to have options (especially free ones). Be sure to learn more about the best travel credit cards before your next trip (you’ll have to read the fine print).

Note: If you’re traveling with a lot of expensive gear and electronics and want to be sure you’re covered, consider a policy from Clements. While its coverage isn’t as convenient to purchase as the companies above (you need to order a quote via email or phone), it has higher coverage available for gear and electronics if you think you’ll need it.

***

Nobody plans on getting hurt when they travel. And in a perfect world, we wouldn’t. But we all know that this isn’t a perfect world.

My bags were stolen when I was traveling in South Africa.

I popped my eardrum while diving in Thailand.

And I was even stabbed while backpacking in Colombia.

Obviously, I didn’t plan for any of these things to happen.

But they did.

And I was lucky I had travel insurance to help me cover the costs. So, before you head out on your next trip, make sure that you’re covered. Invest in your own safety and peace of mind. I promise you, it’s worth the money!

Disclosure: Please note that some of the links above may be affiliate links, and at no additional cost to you, I earn a commission or fee if you make a purchase or get a quote from some parties using these links. I do not represent any of the companies above and I only work with products and companies I personally use.