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Travelex travel insurance
JD Power Customer Satisfaction Rating
874
AM Best Financial Strength Rating
A+
Travelex travel insurance
JD Power Customer Satisfaction Rating
874
AM Best Financial Strength Rating
A+
from participating partners with Squaremouth
Details
JD Power Customer Satisfaction Rating
874
AM Best Financial Strength Rating
A+
Pros & Cons
Highlights
Additional Reading
Ready to head out on your next adventure? Travel insurance can be a smart move to counter the unpredictability of life and travel. One popular travel insurance company is Travelex Insurance Services or Travelex travel insurance for short. It has been around since 1996. Based in Omaha, Nebraska, the company is one of the three largest travel insurance companies in the United States, and it has an A+ rating with the Better Business Bureau (BBB). In this Travelex travel insurance review, we share what plans the company offers, break down costs, and compare it to other options on the market.
Travel insurance plans from Travelex
Travelex travel insurance offers three policies with varying degrees of coverage at different price points. Here’s a snapshot of the plans and perks of each travel insurance plan.
Travel Basic
The Travel Basic travel insurance plan is Travelex’s economic option for travelers who are looking for limited coverage at an affordable price. It offers essential travel protections like trip cancellation, trip interruption, and emergency medical and dental.
The Travel Basic plan does not include sporting equipment delay, and kids aren’t included in the coverage. Additionally, this option won’t cover any preexisting conditions or events caused by intoxication. Most buyers choose this when the budget is tight or it’s a short trip.
Travel Select
The Travel Select option is more comprehensive compared to the Travel Basic plan. For example, it has higher coverage limits with up to $2,000 in trip delay coverage and up to $50,000 in emergency medical coverage compared to the Basic Plan’s limit of just $500 and $15,000, respectively. It also offers more travel insurance benefits overall.
Kids are automatically included in coverage as long as they are under 18. This plan also covers pre-existing conditions if the policy is purchased within 15 days of when your initial trip payment is due. If you’re traveling for a sporting event, Travel Select specifically covers delays for sports equipment.
Travel America
The Travel America option from Travelex is designed for short excursions within the US, but coverage is far more extensive than the other two plans. It matches the coverage limits of Travel Select and exceeds the limits in areas like lost baggage. In addition, emergency medical evacuation and repatriation coverage is limited as coverage is specifically for domestic trips.
Travel America may be ideal for road trips as well. It covers roadside assistance and car rental collision coverage. However, the most significant upgrade for families traveling domestically is coverage for lost pets and unexpected veterinary expenses. See below for a side-by-side comparison of these three plans.
Additional coverage options from Travelex
Depending on your Travelex policy, you may be able to get extra add-ons to your policy, including the following:
Car rental collision coverage
If you’re buying a Travel Basic and Travel Select plan, you can upgrade your coverage to include car rental collision coverage. Buyers ensure they’re protected in an accident with a rental car. Travelex covers cars against accidents, vandalism, and natural events like flooding, fires, or hail.
AD&D common carrier (air only)
Travel Basic and Travel Select plans also offer upgrades to the standard AD&D coverage. This covers accidental death and dismemberment should anything happen during your flight or while you board or deplane. The AD&D common carrier coverage add-on is limited to $200,000.
Additional medical coverage
Especially when visiting another country, the additional medical coverage add-on with Travel Select does three key things:
- Helps you avoid unexpected medical bills
- Ensures prompt treatment in an emergency
- Provides peace of mind for the unexpected
With this add-on, you can feel more secure with an extra $50,000 in medical coverage plus $500,000 in medical evacuation coverage. This is on top of what you get with the Travel Select plan, which doubles your coverage.
Adventure sports coverage
Consider the Travel Select policy with an adventure sports coverage upgrade if you want to engage in extreme sports or risky adventures. This can include skydiving, mountain climbing, or parasailing. The good news is the Travel Basic and Travel Select plans cover some activities already, including hiking, scuba diving, horseback riding, and bungee cord jumping. The adventure sports coverage add-on can protect you during other high-risk activities.
Cancel for any reason
The flexibility to cancel your trip and recoup some expenses is a significant perk, as many things could happen. Under the Travel Select plan, consumers can get a “cancel for any reason” (CFAR) add-on. As you can imagine from the name, you can cancel for any reason as long as it’s within 48 hours of your departure. In addition, you are eligible for up to 50% of the insured trip cost. Buyers must purchase cancel for any reason coverage alongside the base plan within 15 days of the first trip-related payment.
How much does travel insurance from Travelex cost?
The rates for Travelex travel insurance vary depending on where you’re traveling to, which plan you select, your age, and the length of the trip.
Let’s say you’re a 35-year-old from California headed to Brazil for the first two weeks of January and the total cost of the trip is $5,000. The Travel Basic policy would be $239, and the Travel Select Policy would be $319. Rates stay the same for 45-year-olds and 55-year-olds. Then, rates jump to $325 for the Travel Basic plan and $437 for the Travel Select plan for 65-year-olds.
If you’re a 25-year-old from Maryland, who wants to go to Scotland for the week of Valentine’s Day with a trip cost of $3,500, the Travel Basic plan is $100. The Travel Select plan is $137.
How do I file a claim with Travelex?
To file a claim with Travelex, you can complete a claim form online with your Plan ID number. Ensure you have receipts, confirmations, medical documents, and other supporting documents.
You can reach a Travelex claims team if you need help or have additional questions.
You can contact Berkshire Hathaway Specialty Insurance Company via phone at 1-855-205-6054 or by email at travelex.claims@bhspecialty.com.
You can also contact Zurich Travel Assist via phone at 1-800-501-4781 or by email at claims@zurichtravelassist.com.
Compare Travelex vs. Allianz
When shopping for travel insurance, there are many options out there on the market. One of the foremost leaders in the space is Allianz. It offers more plans than Travelex. In addition, Allianz may provide you with more choices if you want to buy coverage for a period (such as all trips meeting specific guidelines in the next calendar year).
However, one major perk for Travelex is the ability to add on cancel for any reason coverage easily. Unfortunately, CFAR is not available via Allianz online. According to our research, Allianz plans also lack pet coverage, sports equipment coverage, and other specialty options available with Travelex.
Compare Travelex vs. AIG Travel Guard
Another contender in the travel insurance space is AIG Travel Guard. Like Travelex, AIG offers three major travel insurance coverage options. These include the Essential Plan, Preferred Plan, and Deluxe Plan.
However, AIG Travel Guard stands out as it also offers an annual travel insurance option. All Travelex plans are meant to be purchased far ahead. AIG separates itself with a unique travel insurance plan for last-minute coverage called the Pack N’ Go Plan offering only post-departure benefits. The Travel Guard Preferred plan is similar to the Travelex Select Plan, as both cover 100% of trip cancellations and $50,000 for medical expenses.
Compare Travelex vs. credit cards
If you have a rewards credit card, you may not realize some cards include limited travel insurance benefits. Typically, this is limited to small amounts for trip cancellation, trip delay, and baggage delays. In addition, some credit cards and your auto insurance company may cover rental cars if you’re traveling domestically. If looking into travel insurance coverage, you can see if you get any benefits via your credit card.
Benefits may be limited compared to a comprehensive travel insurance plan through a company like Travelex. If you don’t have a credit card but are looking at one as a replacement, you may have to contend with a high annual fee. It’s best to check out credit cards with travel insurance coverage and any fees. Then you can compare individual policies with Travelex to see what’s a good fit for your needs.
Insider’s Featured Travel Insurance Companies
Editor’s Rating
Editor’s Rating
Editor’s Rating
Methodology
As part of the Travelex travel insurance review, we looked at the top contenders in the travel insurance space and compared plans based on various factors. These include the number of options, affordability, coverage limits, cancel for any reason add-ons, customer service, and credibility.
Travelex may be a good fit for consumers looking for a cancel for any reason add-on or for those who have pets and looking for benefits to include them. Additionally, those who participate in extreme sports may consider Travelex for coverage.
FAQs
Travelex is a reputable travel insurance provider with over 25 years of experience. Additionally, the company has an A+ rating on the Better Business Bureau (BBB). The company is generally well-regarded by consumers who’ve purchased a policy.
Travelex is a travel insurance company based in the US and also provides travel insurance policies for US citizens. Its policies can be used abroad, but the Travel America policy is just for domestic travel.
Many Travelex reviews describe responsive customer service agents and a straightforward claims process. Many customers also describe themselves as repeat customers.
Domestically, your health insurance plan should offer coverage, especially in emergencies. Travel insurance with medical coverage may supplement that coverage while you’re traveling. If you’re traveling internationally, your plan may not be accepted in your destination’s hospitals. So if there’s a medical emergency, having medical coverage could save you a lot of hassle. Some countries may also request a certain amount of medical coverage when entering from another country.
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