Travelex At A Glance
4.7
Star Rating4.7BBB RatingA+
Pros Travel America plan offers domestic protection at a single flat-rate price Certain plans include coverage for children, additional travelers and even pets Travelex offers base policies with robust coverage, but riders allow for complete coverage of almost any trip Cons Travelex offers lower medical coverage limits than some competitors Some riders are only available with more expensive policy options
Travelex Travel Insurance Overview
Travelex insurance coverage can be a good pick for those looking for affordable coverage, especially for domestic travel. In addition to offering international travel insurance policies, travelers can access flat-rate travel coverage for U.S. travel from just $60. In our review, we found that international travel coverage is even more affordable in many states, with policies starting from $40.
However, the tradeoff for lower prices is lower coverage limits. Travelex policies include lower medical and evacuation coverage than competitors. Travelex may not be the best option for high-value trips or journeys to more remote locations. We think that Travelex is best for value-conscious shoppers looking for an affordable way to protect their trip costs.
Travelex Insurance Coverage
Coverage for an emergency medical evacuation and return stateside up to $100,000
Travelex offers different travel insurance plans to cover the needs of any vacation, all with travel assistance from their team of experts. From the simple Travel America plan to Travelex’s standard Travel Basic plan and the top-of-the-line Travel Select option, there is a plan available that can work with any budget or travel insurance coverage needed.
Below, you will find a list of coverage included with the Travel Basic option.
- Trip interruption or trip cancellation coverage for up to 100% of the trip’s cost
- Two days of trip delay costs up to $500 ($250 maximum per day)
- Missed connection coverage of $500
- Baggage delay ($100) and baggage coverage ($500)
- Emergency medical and dental expense up to $15,000
- Coverage for an emergency medical evacuation and return stateside up to $150,000
- Accidental death and dismemberment (AD&D) up to $10,000
The Travel Select plan is Travelex’s premier travel insurance protection, offering higher limits on items like health insurance and emergency evacuation when compared to the Travel Basic option. It also includes a few benefits not found with the Basic plan, including complementary coverage for children under 17 and coverage for sports equipment delays. While most competitors offer higher medical coverage limits than both Travelex plans, policies will be sufficient for most travelers’ needs.
Add-ons
An insurance rider is an additional coverage feature that can be added to a policy to provide customized protection. Riders almost always have an additional cost, but they can be chosen à la carte, so you can build a policy that meets your needs perfectly.
With Travelex, the optional upgrades you’ll be able to choose will vary depending on the type of insurance coverage you’ve purchased. The following are Travelex’s currently available riders based on your selected policy.
Travelex Basic
- AD&D extension (extends coverage to $25,000)
Travelex Basic
- Cancel for any reason (CFAR) coverage
- Medical expense extension (extends coverage to $50,000)
- Adventure sports waiver for medical expenses coverage
- AD&D extension (extends coverage to $25,000)
Policies Offered
Need a quick summary of coverage options? The following table summarizes the major protections included with each policy tier.
| Policy Tiers | Cancel for Any Reason | Trip Delay | Trip Interruption/Cancellation | Baggage | Medical |
|---|---|---|---|---|---|
| Travel America* | Not covered | $2,000 | $750/$1,125 | $2,000 | $50,000 |
| Travel Basic | Not covered | $500 | 100% of trip cost | $500 | $15,000 |
| Travel Select | Rider only | $2,000 | 100% for cancellation, 150% for interruption | $1,000 | $50,000 |
*Travel America only covers domestic trips
Cost of Travelex Insurance
To help you get a better idea of what you might pay for a policy through Travelex, we requested quotes for a few sample trips. Browse the table below to estimate your price, but we suggest requesting a free custom quote for the most accurate information.
Travelex vs. Competitors
While Travelex is our top recommended travel insurance company for low-cost policies, it is not the only option to protect your upcoming trip. Explore a few of Travelex’s competitors using the table below.
| Company | Average Plan Cost | BBB Rating | CFAR Coverage | COVID-19 Coverage | Visit Site |
|---|---|---|---|---|---|
| $242 | A+ | Yes, up to 75% | Yes | GET QUOTE |
| $298 | Not Rated | Yes, up to 75% | Yes | GET QUOTE | |
| $182 | A+ | Yes, up to 75% | Yes, limited | GET QUOTE |
| $228 | A+ | Yes, up to 60% | Yes | GET QUOTE |
| $273 | A+ | Yes, up to 75% | Yes, limited | GET QUOTE |
| $208 | B | Yes, up to 75% | Yes | GET QUOTE |
| $266 | A- | Yes, up to 75% | Yes, limited | GET QUOTE |
| $72 | A- | Yes, up to 75% | Yes, limited | GET QUOTE |
| $206 | A+ | Yes, up to 75% | Yes | GET QUOTE |
| $241 | A+ | Yes, up to 50% | Yes, limited | GET QUOTE |
| Company | Average Plan Cost | BBB Rating | CFAR Coverage | COVID-19 Coverage | Visit Site |
|---|---|---|---|---|---|
| $242 | A+ | Yes, up to 75% | Yes | GET QUOTE |
| $298 | Not Rated | Yes, up to 75% | Yes | GET QUOTE | |
| $182 | A+ | Yes, up to 75% | Yes, limited | GET QUOTE |
| $228 | A+ | Yes, up to 60% | Yes | GET QUOTE |
| $273 | A+ | Yes, up to 75% | Yes, limited | GET QUOTE |
| $208 | B | Yes, up to 75% | Yes | GET QUOTE |
| $266 | A- | Yes, up to 75% | Yes, limited | GET QUOTE |
| $72 | A- | Yes, up to 75% | Yes, limited | GET QUOTE |
| $206 | A+ | Yes, up to 75% | Yes | GET QUOTE |
| $241 | A+ | Yes, up to 50% | Yes, limited | GET QUOTE |
No results were found.
Why Trust MarketWatch Guides
Our editorial team follows a comprehensive methodology for rating and reviewing travel insurance companies. Advertisers have no effect on our rankings.
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Companies Reviewed
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Quotes Collected
36
Rating Factors
Travelex Insurance Reviews
Visiting third-party review sites can be helpful when choosing a travel insurance provider. Berkshire Hathaway Specialty Insurance Company, rated A++ by A.M. Best, underwrites Travelex’s policies. The high strength rating indicates that Travelex has the means to pay out all of its claims for the foreseeable future.
Travelex maintains an A+ rating from the Better Business Bureau (BBB) and 1.5 out of 5 stars from 12 customer reviews. It is also BBB-accredited, indicating the company is more likely to respond to customer complaints and advertise responsibly. While reviews on its BBB profile are negative, more than 11,000 individual reviewers on Trustpilot have given Travelex 4.5 out of 5 stars.
Country
Argentina Aruba Australia Austria Bahamas Bali Barbados Belize Bermuda Brazil British Virgin Islands Canada Chile China Colombia Costa Rica Denmark Dominican Republic Europe France Germany Greece Iceland India Ireland Italy Japan Jerusalem Mexico Netherlands New Zealand Norway Philippines Portugal Singapore Spain Sweden Switzerland Thailand Turks and Caicos United Kingdom
Is Travelex Travel Insurance Good?
Travelex is a popular provider of domestic and international travel insurance policies. Unique coverage plans at different coverage and price points, optional upgrades for customization and flat rate for domestic travel make Travelex a solid option for anyone looking to insure an upcoming trip.
Travelex offers an easy-to-use online booking system, and it may be a good option if you’re traveling with children, as they are included in pricing on the Travel Select plan. Pet medical coverage is also included for domestic travel, which could be a big selling point if you have fur babies to take into account when planning travel.
Frequently Asked Questions About Travelex Insurance
Travelex has more than 25 years of experience in the travel industry and is underwritten by two industry giants, Berkshire Hathaway and Zurich. Travelex is a reputable source when shopping for the perfect travel insurance policy.
There are many options on the market to consider when determining the best travel insurance provider. Since some providers offer different perks and policy inclusions, you should select the one that offers a policy that best fits your travel and budgetary needs while still having great ratings with AM Best and review sites.
Travel insurance policy costs can vary widely based on a few factors, such as destination, riders included and, most importantly, the value of the trip. International travel costs more to insure and can have more variability. Travelex offers a domestic-only trip insurance policy at the flat rate of $60.
Travelex has been in the business of insuring travel for over 25 years, and offers a few options to insure both domestic and international travel. Travelex Insurance Services, Inc. offers three plan tiers in most parts of the country, which help cover a traveler’s trip cost if they’re forced to cancel for a qualified reason.
Additional Travel Insurance Reviews
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- Faye Travel Insurance Review (2023)
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Methodology: Our System for Ranking the Best Travel Insurance Companies
Our team surveyed dozens of travel insurance providers and created a scoring system to judge each company based on coverage, quality and service. We also collected sample quotes from each company, both over the phone and on the internet, to simulate an authentic customer experience. Here are the factors we take into consideration when rating providers:
- Cost (10%): To determine a baseline average travel insurance cost, we gathered quotes from each travel insurance company based on different traveler profiles. Travel insurance companies at or below our calculated average cost of $221 earn full points in this category. Specifically, we obtained quotes for the following trips
- A 30-year-old couple taking a $5,000 vacation to Mexico.
- A family of four taking an $8,000 vacation to Mexico.
- A 65-year-old couple taking a $7,000 vacation to the United Kingdom.
- A 30-year-old couple taking a $7,000 trip to the United Kingdom.
- A 19-year-old taking a $2,000 trip to France.
- A 27-year-old couple taking a $1,200 trip to Greece.
- A 51-year-old couple taking a $2,000 trip to Spain.
- Plan availability (10%): We look for insurers with a variety of travel insurance plans and the ability to customize a policy with coverage upgrades.
- Coverage details (29%): We review the baseline coverage each company offers in its cheapest comprehensive plan. A provider with robust coverage earns full points, including baggage delay and loss, COVID-19 coverage, emergency evacuation and medical coverage, trip delay and cancellation coverage, and more. Companies also receive points for offering a variety of policy add-ons like accidental death and dismemberment, extreme sports, valuable items, cancel for any reason coverage and more.
- Coverage times and amounts (34%): We compare each company’s waiting periods and maximum reimbursem*nt amounts for baggage, travel and weather delays. Companies that offer customers reimbursem*nt after fewer than 12 hours of delays earn full points in this category. We also reward travel insurance providers that cover more than 100% of trip costs in the event of cancellations or interruptions.
- Company service and reviews (17%): We look for indicators that a company is well-prepared to respond to customer needs. Companies with an established global resource network, 24/7 emergency hotline, mobile app, multiple ways to file a claim and concierge services score higher in this category. We assess reputation by evaluating consumer reviews, third-party financial strength and customer experience ratings, specifically from AM Best and the Better Business Bureau (BBB).
A.M. Best Disclaimer
Sarah HorvathAuthor
Sarah Horvath is one of the home service industry’s most accomplished writers. Her specialties include writing about home warranties, insurance, home improvement and household finances. You can find her writing published through distributors like HouseMethod, Architectural Digest, Good Housekeeping and more. When not writing, she enjoys spending time in her home in Orlando with her fiance and parrot.
Sabrina LopezSenior Editor
Sabrina Lopez is an editor with over six years of experience writing and editing digital content with a particular focus on home services, home products and personal finance. When she is not working on articles to help consumers make informed decisions, Sabrina enjoys creative writing and spending time with her family and their two parrots.
