Has your wanderlust been getting the best of you lately? Well, we don’t blame you! Travelling is one of the most enriching experiences anyone can have in their lifetime. But before heading out for your next adventure, make sure to get the right travel insurance! It might seem like another expense but trust us – everything is worth it. In this blog post, we’ll talk about the pros and cons of the best overseas travel insurance policies out there. So, whether you’re a first-time traveler or a seasoned pro, read on for some valuable advice!
Comprehensive travel insurance policies offer peace of mind when you’re planning your next adventure. It is a good idea no matter where you’re going. It ensures the financial security of your trip and can help you avoid losing money if something goes wrong on vacation!
You can buy comprehensive coverage which will cover anything from airfare and cruise fare up through emergency medical care, transportation home if needed (including helicopter), lost baggage, or Declining Cause Of Death Insurance – just in case! If you’re looking for the best travel insurance policies, make sure they offer excellent customer service. It’s also important that these companies have few exclusions or limits, so your coverage will be effective in case anything happens on your trip beyond what was planned!
Many people are curious about what makes one plan better than another, but it can be hard to tell without knowing your specific needs. Here we take a look at the pros and cons of the best overseas travel insurance policies on the market.
1. Travelex Insurance Services
There are two main types of travel insurance offered by Travelex – Travel Basic and Travel Select. There is also a Travel America plan specific to the United States. Additionally, Travelex offers optional add-ons that can be customized to meet your needs.
Consider the company’s Travel Basic plan if you’re looking for an affordable option. The plan covers 100% of the insured trip cost in the event of a cancellation, interruption, or delay in the trip and up to $500 in the event of a trip delay. A medical evacuation and repatriation coverage of up to $100,000 is also included. In addition, medical and dental coverage of up to $15,000 is included, as well as luggage and personal effects coverage of up to $500. In addition, there is no deductible for primary coverage. This plan is recommended for short domestic vacations.
Consider Travel Select if you travel internationally. It provides coverage for emergency medical evacuations and repatriations up to $500,000, emergency medical & dental coverage up to $50,000, and coverage for lost, damaged, or stolen baggage or personal effects up to $1,000. Also, children ages 17 and younger are covered at no additional charge when traveling with an adult who is insured.
Custom upgrades are also available with Travelex plans, including coverage for car rentals and accidental death and dismemberment. When you buy travel insurance within 15 days of your initial trip deposit, you can add a preexisting condition waiver. A Travel Select plan can be supplemented with adventure sports coverage, such as mountain climbing, skiing, or scuba diving. Online policy purchases, document requests, and claim filing are also available from Travelex.
- Comprehensive coverage at an affordable price.
- Customizable features on multiple plans
- Free coverage for children under 21.
- Various pre-existing condition coverage options depend on the date the policy was purchased
- No annual plan is offered.
- The basic coverage plan provides only the bare necessities.
2. Allianz Travel Insurance
As a subsidiary of the German insurance company Allianz, Allianz Travel has been around since 1890. Only legal U.S. residents are eligible to purchase travel insurance policies underwritten by AM Best-rated insurers.
Travelers who travel often should consider annual travel insurance instead of trip-by-trip coverage. There are four different annual plans offered by Allianz Travel, each with a different level of benefits. Its AllTrips Executive plan is one of the best in this category, due to its high limits and coverage.
With AllTrips Executive, you can choose from tiered limits starting at $5,000 for trip cancellations or interruptions. In addition, it offers $50,000 in emergency medical coverage and $250,000 in emergency transportation coverage. You should read the fine print before taking part in adventure activities, as there is a long list of exclusions.
A single traveler, a couple, or a family of four would pay $500 each per year for insurance. If you plan to travel at least five times per year, you’ll break even by paying for comprehensive coverage at $120 per person per trip. With Allianz, you can select from Basic, Premier, or Prime plans for lower costs.
- Plans are available for annual or single trips.
- There are a variety of policy types to meet varying needs.
- Even if you don’t travel together, you should cover yourself and your household.
- You can access coverage benefits on the go with this handy mobile app.
- A variety of endorsements are available for epidemic coverage.
- Extensive travel is not covered.
- Per-trip limits are found in some annual plans, whereas annual limits are found in others.
- There is a $250,000 limit on emergency medical transportation coverage
3. World Nomads
World Nomads is a company that offers exciting and adventurous travelers insurance. The policies are underwritten by various insurers, including AIG , Nationwide Mutual Insurance Company Lloyd’s Generali Global .
There are many activities included in the high-end Explorer Plan, such as skiing, boating, aviation, motorsports, athletics, and high-adventure experiences. There is coverage for terrorist attacks, assaults, medical repatriation, equipment and baggage, and overseas medical and dental care. Other insurers exclude several activities, and more than 200 are listed in the policy.
The Explorer Plan would cost a solo 35-year-old around $200 a month in Thailand, depending on factors like state of origin. If you’re worried about something going wrong, you should choose a higher coverage level than the Standard Plan.
Underwritten by Nationwide (A+ rated by AM Best), this policy covers $100,000 for emergency accidents and illnesses, $500,000 for emergency evacuations, $10,000 for trip interruptions, and more.
Although it does not have the same reputation in the insurance industry as some other providers, it works with reputable companies that underwrite policies.
- Medical and emergency evacuation coverage with high limits
- When traveling, protect your sports equipment, computers, and bags
- The Explorer plan includes adventure sports
- Plans are only available for single trips
- There is no coverage for most pre-existing conditions
- All policies do not cover adventure sports
4. AIG Travel
AIG Travel offers three types of travel insurance plans: the annual plan for all trips within the same year, the Pack N’ Go plan for last-minute trips, and the single-trip plan (three levels). You can choose between essential, preferred, or deluxe level coverage depending on the cost of your trip and the amount of reimbursement you require.
Your plan’s coverage and limits may vary depending on your trip details. The variability in coverage levels makes it essential to obtain a quote through the AIG Travel search engine.
AIG Travel Insurance plans generally cover kids under 17. Travel insurance policies offer trip cancellation coverage of up to 100% (up to $150,000) and trip interruption coverage of up to 150% (up to $225,000) for mid-tier preferred plans. The medical expense coverage can range from $50,000 to $800, depending on the details of your trip.
Before requesting a quote, AIG Travel does not provide details about its plans, but it does allow customers to file a claim and track their claim status online.
- You get custom-tailored travel insurance coverage.
- Obtaining a quote is the only way to get information about policy coverage inclusions.
5. HTH Travel Insurance
Seniors leaving the country are a huge concern because they may have expensive medical bills. Since 1997, HTH Worldwide has offered high-quality medical coverage as part of its travel insurance plans. HTH Travel Insurance provides medical coverage totaling up to $1 million.
Most travelers with primary health insurance coverage are covered for typical hospital costs, including surgery, tests, office visits, inpatient hospital stays, and prescription drugs outside the United States.
You can get up to $500,000 in medical evacuation coverage, but baggage and trip interruption aren’t covered. Most people will choose this plan for its medical benefits, not travel benefits. Applicants must be under 95 years old to qualify for this policy.
People without existing health insurance can also purchase insurance. There are several insurance plans for seniors in the U.S., such as Medicare. Still, Medicare does not work outside the country, so seniors are left uninsured when they travel abroad. The HTH Travel Insurance policy is designed for those without medical coverage. The age limit is 74, but pre-existing conditions are excluded for 180 days.
- Provides high levels of medical coverage to seniors up to the age of 95
- You can receive an allowance of $1,500 for a hospital visit from someone
- Mid-tier coverage that is generous
- Depending on your needs, it may be expensive
- The best health insurance plans for seniors require existing coverage
- A $50,000 maximum benefit is available under the lowest policy
6. Nationwide Travel Insurance
The company has been around since 1925, offering the most popular types of insurance, such as auto, home, and life. Additionally, it offers travel insurance policies for single trips, multi-trips, and cruises.
With Nationwide’s Essentials Plan, you can cancel a single trip for up to $10,000, and with its Prime Plan, up to $30,000. A travel insurance package that covers delays, medical costs, evacuations, lost luggage, and assistance is also available for just $59 a year.
However, the cruise plans it offers are what made it eligible for this category. Depending on your individual needs, you can choose from the Universal Cruise Plan, Choice Cruise Plan, or Luxury Cruise Plan. For instance, the Universal and Choice plans were quoted at around $200 for a couple on a 10-day cruise to Mexico.
What you are most concerned about on a cruise is covered by Nationwide’s cruise insurance. There can be costs associated with missed excursions, flights, and itinerary changes, such as broken down ships. With the Universal Cruise plan, emergency medical expenses are covered up to $75,000, and medical evacuation benefits up to $250,000.
All plans also cover coverage for inclement weather, extending the school year, work emergencies, and terrorism. The luxury plan also includes coverage for local Centers for Disease Control advisories.
- Prominent insurance company with a good standing
- There are three different cruise insurance options available.
- coverage for typical cruise problems like missed connections and itinerary alterations
- Some plans have limited levels of coverage for specific incidents.
- Benefit ceilings for trip cancellations are modest.
- There may be exclusions for pre-existing conditions.
7. Generali Global Assistance
There are three travel insurance plans available through Generali Global Assistance. These are the standard plan, the preferred plan, and the premium plan. With its standard plan, you get the least coverage; with its premium plan, you get more coverage and higher limits for an increased cost upfront.
The preferred plan guarantees more comprehensive coverage than the standard plan, in addition to special coverage for sporting goods and delays in sporting goods. This plan is an excellent option to consider if you are traveling for a golf tournament or a ski trip.
The Premium plan provides the most comprehensive coverage for more expensive excursions like tours and cruises. In addition to other benefits, this enhanced plan guarantees a 100% refund for trip cancellation, a 175% refund for trip interruption, $2,000 in baggage loss per person, and $250,000 in medical and dental coverage per person.
You can quickly request a free quote from Generali Global Assistance, and you can make a claim for your travel insurance over the phone or online.
- Mid-tier plans include coverage for sporting equipment.
- The premium plan is the only one that offers coverage for people with preexisting conditions.
8. GeoBlue Travel Insurance
The Blue Cross Blue Shield Association has granted GeoBlue’s policies a license, and the company is a division of Worldwide Insurance Services. The company that issues the policies, 4 Ever Life International Limited, has been in business for more than 60 years and has earned an A rating (Excellent) from AM Best.
GeoBlue is a good option if you only require coverage for medical requirements. This insurer provides only travel medical insurance. Instead, you are only covered for medical expenses, which can be as little as a few dollars per day. If you pay for medical insurance, you may not need to pay for the rest of your travel insurance, which may already be included. For instance, if you already have a credit card with travel insurance, your card’s terms probably cover lost luggage and missed flights.
You will pay significantly less than most other insurers on this list because you are primarily getting travel medical coverage. Make sure, however, that you are entirely aware of what is and isn’t covered. The plans offered by GeoBlue only offer rudimentary coverage for lost luggage and travel delays.
For one-off, repeated, and extended travel, GeoBlue offers two general plans. Although it doesn’t cover everything associated with your trip, it significantly lowers the cost of medical insurance. Five specialty policies are available for specialized travel medical insurance requirements, such as studying abroad.
- Coverage for medical expenses when traveling
- provides a la carte medical coverage even if other travel expenses are already paid for
- You can cover a variety of needs and pre-existing conditions with various policies.
- It primarily pays for medical expenses
- It’s necessary to obtain additional primary health insurance.
Regarding travel insurance, there are many options to choose from. The insurance can protect you from expensive cancellations and interruptions if your trip is canceled or interrupted at the last minute.
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