Best Travel Insurance Companies in 2022

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You may know a lot about travel insurance — or your upcoming trip may be the first time you’ve considered getting a policy. Travel insurance is becoming more important than ever because of the COVID-19 pandemic.

Comprehensive insurance should protect you from any unexpected circumstances.  Here are our recommendations for the top travel insurance companies in 2022.

Compare the top travel insurance providers

Overall, best: Nationwide

AXA: A well-rounded alternative

AIG Travel Guard: The best cruise insurance plan:

Berkshire Hathaway is a reliable provider

Travelers with pre-existing conditions are best to use Tin Leg

WorldTrips is a great option for backpackers, students studying abroad, and digital nomads.

Best low-cost option: Trawick

Our methodology

In order to compile our list of top travel insurance companies, each one was evaluated using the following criteria:

Cost

A quality travel insurance policy will generally cost less than a good one. Between 4% and 8% of your total travel expensesAccording to the US Travel Insurance Association, it is. Any additional benefits should be added to the price above that point, such as CFAR protection and enhanced medical coverage. You may not have sufficient or important coverage in an emergency if you fall below the 4% threshold.

Convenience & Flexibility 

Whether you’re an infrequent traveler or a suitcase warrior, a good travel insurance company should have you covered — and in many cases, you might not even have to talk to a person in order to purchase your policy. 

While many people view travel insurance as being limited to specific trips, the majority of top contenders offer both single-trip or multi-trip policies, also called annual travel insurance. Some companies offer additional services. Specially designed plans for cruisersBusiness travelers, students abroad, as well as international students. These providers all offer many options for getting the coverage and areas you desire. 

The coverage categories and amounts

Although all the companies in this list provide enough coverage in key categories, you can still make an out-of-pocket expense for any travel abroad. It is your decision to determine if you need more coverage. While some companies might not offer certain add ons or high-limit categories, all providers provide the basic coverage for comprehensive travel insurance.

How to select the best travel insurance company

There is no one-size-fits all policy that will work for everyone. For young, healthy solo travelers, you can get bare-bones coverage for a fraction of the cost. However, families with long itineraries and complex itinerary will benefit from a comprehensive policy that covers all costs related to lost baggage, delayed transport, or other trip-improving obstacles. 

However, it’s impossible to go wrong with a reliable travel insurance provider that offers many customizable plans and has a strong track record. Sometimes, plans may only be a few dollars apart. If you find yourself in such a situation, it is advisable to choose the insurance company that has a better customer service record and has been recommended by travelers who have taken similar trips as yours. 

InsureMyTrip, Squaremouth and Squaremouth are two of the best places to search for travel insurance policies. You can see hundreds upon search results once you have entered the details of your trip. Compare the ones that interest you. You can filter the search results to remove as many duplicate plans as you like. 

Find out more about our winners

AIG Travel Guard

This insurance company is well-respected and a good fit for travelers who need to make sure they get their money back in case of cancellation or interruption of travel plans.

Although the company’s policies are more expensive than its competitors, AIG is a solid choice for older travellers who value simplicity and peace of mind over highly customizable plans that can be enhanced with medical upgrades.

Check out our complete review of AIG.

AXA travel insurance

AXA offers consumers a great option for no-stress travel insurance: low-priced plans, generous coverage limits on key categories including primary insurance on lost luggage, and up to 150% reimbursement for qualifying trip cancellations.

AXA is the perfect choice for those who don’t plan on driving (or already have) and are looking for rental car coverage. However, add-ons may be limited and not included in cheaper plans. Credit cards that include rental car coverage), and don’t need any additional bells and whistles.

Berkshire Hathaway Trip Protection

Your travel insurance should not be unused. This is the best case scenario. Berkshire Hathaway is here to help travelers make the most of bad situations. We simplify the process of filing a claim by allowing you to snap a photo and send the paperwork directly through an app.

Approved claims can also be paid out quickly, which makes it easier to continue with your trip if luggage is lost or you need to make alternative travel plans.

Nationwide travel insurance

One of the biggest players in the space of travel insurance offers a wide range options to customers, including annual plans that can give frequent travelers the ability to “set it and forgo it” with their insurance coverage.

Nationwide also offers some of the most affordable policies in the market compared to similar plans from competitors, which makes it a great pick for just about anyone. 

Tin Leg travel insurance

Tin Leg is great for people with special medical needs. This company is a great choice for travelers with higher health risks or issues.

Trawick International 

Trawick is another provider of insurance that offers peace-of-mind for those who are more at risk. Although this company has one of the best medical evacuation policies on the market, travelers will need to make sure they have rental car coverage in case they need it.

WorldTrips

WorldTrips’ affordable premiums, highly customizable add-ons and generous coverage for core categories of travel insurance make it a great option for digital nomads, students studying abroad and backpackers.

Travelers should remember that plans are not flexible and that coverage amounts can be limited if you don’t plan ahead and pay for the areas or amounts you require.

Honorable mention: The credit cards in your wallet

Many credit cards are available on the market today. Travel insurance that is comprehensiveSometimes, these plans are even better than the ones offered by our top-pick providers.

The Chase Sapphire Reserve® is often considered the industry leader for comprehensive travel insurance, with the The Platinum Card® from American Express
 coming in a close second.

If you’re not a fan of the sky-high annual fees on those cards, the Capital One Venture X Rewards Credit Card and the American Express® Gold Card
The card offers a solid alternative to card-provided insurance for travel at a middle-tier cost of $295 per year or $250 per annum. 

And don’t sleep on the Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card: Each card may only cost $95 per year, but includes hearty coverage for travel interruption, cancellations, baggage loss and delays that’s comparable or even superior to many mid-range travel insurance plans. 

These credit cards offer travel insurance that can cover lost or damaged baggage, stipends up to six hours for baggage delays and travel delays, as well as $2,000 to $10,000 per trip to cover canceled or non-refundable travel like flights or hotels. 

Frequently Asked Questions