Top International Travel Insurance Companies In The World

Travel insurance companies are a great help while travelling abroad. They allow you to secure the financial investment you make in your trips if any unexpected issues arise. These insurance companies assist you in many ways. These may be trip cancellations, medical emergencies, illness, lost luggage, or others. However, it is essential to find good travel insurance for your vacation that covers most matters. – Joe Cronin, President of International Citizens Insurance

Faye 

Faye is a platform that prioritizes a digital and completely online experience. It is worth considering if you are shopping for last-minute coverage. You just need to answer some queries regarding your upcoming trip. Plus, you also need to manage your coverage limit and get a detailed travel insurance plan in just a few minutes. Faye may also send reimbursement directly to your phone’s digital wallet when you file a claim, and it is approved. Although Faye only provides one plan option, its general coverage inclusions may be ideal for you if you are looking for a digital experience and quick coverage.

Pros:

• Offers all-online, quick quotes, and enrollment
• Can offer $200 if your luggage gets delayed for six hours or more
• You have optional cancel-for-any-reason (CFAR) additional covers up to 75% of trip costs
• Reimbursement on approved claims to your phone’s digital wallet

Cons:

• Only offers one plan choice
• Does not provide additional coverage for accidental dismemberment and death

Travelex

Travelex is among the top options for travellers taking budget trips and trying to focus on price over other factors. Their plans can be budget-friendly for some. However, it depends on your trip’s value; you could qualify for flat-rate coverage of $60 per person. It also provides a flat-rate Travel America plan for any domestic trips. Travelex’s Travel Basic plan offers affordable international coverage. However, the optional adventure sports, CFAR insurance, and additional medical protection are not available with this plan. 

Pros:

• The standard coverage includes emergency evacuation
• Flat-rate policies are available from $60 per traveller
• Provides an adventure sports waiver

Cons:

• Only provides up to 50% in cancel for any reason coverage
• Includes a $15,000 medical limit on the least coverage tier

Nationwide Travel Insurance

Nationwide travel insurance can be your option for the most coverage reimbursed. It provides 100% trip cancellation coverage. In addition, it also offers up to 200% trip interruption security, depending on your plan choice. They also offer some of the best policies for cruisers with two levels of cruise-specific coverage. These plans include coverage for terrorism and mechanical breakdowns in your destination cities. This is quite often excluded in most travel insurance companies. 

Pros:

• CFAR upgrade provides up to 75% reimbursement 
• Offers particular coverage for cruise vacations
• Offers multiple levels of annual plan coverage and multiple destinations, single-trip plans 

Cons: 

• On average, more expensive premiums
• Imposes a longer waiting period before baggage delay advantages begin

Also Read: What Are The Pros And Cons Of Taking Out A Travel Loan

Tin Leg

Tin Leg is a travel insurance company that provides eight individual policy choices. They have different levels of coverage included in each plan. Hence, it becomes easy to choose a plan that just includes the coverage most important to you. Add-on options may tailor policies further to your requirements. In this way, Tin Leg is among the best-customized travel insurance options. 

Pros:

• Features budget-friendly premiums
• Provides higher-than-average medical limits
• Up to 10 add-on options are available

Cons:

• Add-on availability depends on plan choice
• Lower travel delay benefits than other competitors 

Seven Corners Travel Insurance

If you are a frequent abroad traveller or travelling on a student visa outside the United States, you may find it more affordable to buy an annual plan instead of a multiple single-trip plan. Seven Corners offers an annual plan with up to $250,000 in travel medical coverage, $500,000 in emergency medical coverage, and more. With all plans, you will also get 24/7 worldwide travel assistance. While this plan does not have comprehensive delay protection, it is still considered a cost-effective option for frequent travellers.

Pros:

• Unlimited number of trips available on each annual plan
• Annual faculty and student insurance policies cover visa requirements
• You can avail of trip delay benefits after six hours

Cons:

• Only extends a $20,000 coverage limit for any political evacuation
• The lowest-priced plan provides only secondary medical coverage

AIG Travel Guide

When looking for travel insurance as a family or group, high combined premiums might discourage some clients from buying coverage. We choose AIG Travel Guard as the best travel insurance company for families because they can select plans like the Deluxe policy. It includes one child under the age of 17 who is buying adult coverage. They also provide generous discounts on group travel coverage. You can buy this discount with just a few clicks online. It will make AIG a solid choice for anyone shopping for last-minute trip cancellation insurance. 

Pros: 

• The Deluxe policy includes Travel Inconvenience Benefits for scenarios like runway delays
• Medevac plan can offer up to $5 million in medical evacuation coverage
• Provide immediate coverage with the Pack-N-Go plan for any last-minute trips

Cons

• Charges higher premiums on average
• Only gives 50% in CFAR coverage

Trawick International

“If you are looking for student travel insurance, Trawick International is your way to go. It has more than 20 individual travel insurance policies along with standard inclusions. They are the most known for their distinct options for students studying abroad. Their International Student and Scholar Medical Evacuation plan is the one that many students might find affordable. Plus, it also meets the needs of multiple international visas, setting down evacuation insurance. It also provides annual trip cancellation coverage and plans designed for other international visa needs. However, this plan only offers medical evacuation coverage and not usual emergency medical protection. “ Rudy Bush, Founder at Wiringo

Pros:

• Provides three levels of annual trip coverage
• Sells cruise-specific policies
• Multiple traveller-specific plans available for various requirements

Cons:

• International Scholar policy just covers medical evacuation and not the medical bills
• Does not provide student-specific coverage add-ons

Generali Global Assistance

General Global Assistance can be a good pick for emergency assistance coverage because it provides 24/7, concierge-level service. It helps the travellers in different situations. Their trav professionals are multilingual, making it beneficial for you if you are travelling to areas where you cannot speak the primary language. Moreover, their higher coverage tiers include protections like sports equipment and rental cars coverage. These coverages are often not offered by providers as add-ons.

Pros: 

• Get 24/7 concierge emergency assistance with each plan
• Extends up to 175% trip
• Interruption coverage 
• No dental sub-maximum incorporated under medical coverage

Cons:

• Provides less delay compensation than others
• Optional CFAR coverage is limited to 60%

Conclusion

Travel insurance is most often offered as add-ons for your trip. It means you can pay for your trip and some level of insurance at one time. It is important to choose the right travel insurance companies based on your needs. The mentioned travel insurance companies are among the top-listed worldwide. It will help you to trust and rely on them easily.