Whether you're planning your honeymoon, a family trip to Hawaii or a business trip to meet new clients, travel insurance can provide protection when your plans go astray. There are generally three main types of travel insurance: travel cancellation and disruption; medical assistance and evacuation; and baggage loss and delay. We researched dozens of travel insurance companies to pick the best in the industry. The right plan for you may depend on the nature of your travels, who is traveling and your budget. But whatever your needs, these 10 picks are financially stable, reliable companies with a good track record and comprehensive coverage.
Our Top 10 Travel Insurance Providers
GENERALI GLOBAL ASSISTANCE
Best for: Traveling with pets
San Diego-based Generali Global Assistance has provided travel insurance since 1991. The insurance division has previously been known as CSA Travel Protection.Generali Global is accredited by the Better Business Bureau and has an A+ rating and an A financial rating from A.M. Best.
Coverage:
CSA offers three plans: Standard, Preferred and Premium. It covers telemedicine services with its plans and medical costs if a person becomes sick or injured during their trip. It also reimburses medical costs if you pay out of pocket. As with most travel insurance companies, CSA offers 24/7 emergency assistance, concierge services, identity theft resolution services and a 10-day "free look" period. If you change your mind within 30 days of purchasing the insurance and before you start your trip, the company will provide a full refund. It offers pet relocation services: If you have a medical emergency and cannot take care of your pet while on vacation, it will return your pet home. It also has a Pet Service Locator to help you find vets or other pet services on your travels. For pre-existing medical conditions, you would need to purchase the Premium plan before or at least 24 hours in advance of your final trip payment. You will also need to be medically able to travel, and your prepaid expenses are insured.Website/mobile apps:
They walk you through the claim-filing process step-by-step on their website.Sample online quote:
Family of four, going on a 10-day, $10,000 trip: $298.52 Standard / $346.28 Preferred / $398 Premium
BERKSHIRE HATHAWAY TRAVEL PROTECTION
Best for: Mobile app aficionados
Warren Buffet's Berkshire Hathaway is not known for travel insurance, but it is rapidly gaining recognition in the market for its technological advances in the field. It launched its travel protection program in 2014 and has been winning over customers with its fast claims payments. Berkshire Hathaway has an A.M. Best financial rating of A++. It is accredited with the Better Business Bureau and has an A+ rating.
Coverage:
BHTP offers six distinct plans tailored to meet your specific travel needs. Options are available for adrenaline junkies, low-budget fliers, family vacationers, business travelers, and even those looking to relax on a cruise.Website/mobile apps:
Berkshire Hathaway is a leader in providing mobile apps to facilitate rapid claims and payments. You can file a claim online or via the mobile app, which also allows you to track flights, get help finding lost luggage, rebook flights and purchase policies. Getting an online quote is also possible, but the process isn't quite as smooth.Sample online quote:
Family of four, going on a 10-day, $10,000 trip: ExactCare Family: $249; ExactCare: $346.
We reviewed dozens of travel insurance providers to come up with this list of top companies. Our criteria for inclusion included:
Experts recommend you do your homework before buying a travel insurance policy.The industry is known for excessive exclusions and confusing language in smallprint. The National Consumer League recommends that you:
Check to see if you're already covered through another policy.
Lots of insurance policies (including home, auto, and life) and credit cards offer partial coverage for trip interruption or medical emergencies.Read the fine print - especially regarding exclusions.
Things like pre-existing conditions, pregnancy-related issues, job loss or travel in a country that has reported a high threat of terrorism may be excluded.Remember that you can get your money back.
Lots of travel insurance companies allow you to get your money back if you cancel the plan within ten days (before travel).Don't purchase travel insurance through airlines.
Airlines aggressively push these cancellation insurance plans and pay commissions of 10 to 40 percent to the travel agents who sell them.
Consumer Reports recommends that you use an online travel insurance broker to search for a good match for your travel. Sites like Squaremouth, InsureMyTrip.com, or QuoteWright.com all allow you to shop and compare quotes. Even if you use such a service, however, Consumer Reports recommends contacting the carrier directly to go over the coverage and fine print before purchasing a policy.
U.S. Travel Insurance Association (USTIA)
This professional association represents travel insurance companies and promotes ethical and professional industry standards. You can search its database for member organizations.National Association of Insurance Commissioners (NAIC)
Provides information and advice for consumers regarding when and how to purchase travel insurance.Insurance Information Institute (III)
The III is dedicated to promoting a public understanding of insurance. It has a page providing travel insurance facts.Your state Insurance Commissioner
All insurance is regulated at the state level. NAIC provides an interactive map so that you can click on your state and be directed to your state's Insurance Commissioner.Better Business Bureau (BBB)
The BBB allows you to search its vast online database to check on the reputation and any complaints that have been filed against a company.
