Which is Best Travel Insurance on October 2023?

This article will dive into which is best travel insurance company in 2023. Let’s explore right now!

What does travel insurance cover?

Many travel insurance plans include various protections to help you handle unexpected travel problems and expenses. These coverages are designed to safeguard the money you invested in your trip, cover costs related to travel difficulties, and handle expenses in case of a medical emergency abroad.

What does travel insurance cover?

Close up of travel insurance form

In addition to the basic coverages like trip cancellation, interruption, and travel medical, some plans offer extra options such as waivers for pre-existing conditions, rental car damage coverage, or adventure sports coverage. Usually, these extras come with an additional cost or need to be added within a specific timeframe.

What’s not covered?

When you’re looking at travel insurance plans, you’ll find that they generally cover various unexpected events. However, it’s important to think about your specific needs. While each plan may vary, there are some common situations that are usually not covered.

For example, if you want coverage for a hurricane, you typically can’t get it if you buy the insurance after the hurricane has been named. In simpler terms, if you have a trip planned for the Caribbean on September 25th, and a hurricane develops and gets a name on September 20th, buying travel insurance on September 21st in the hope of getting a refund is usually not possible.

What’s not covered in travel insurance?

Many plans also won’t cover activities done under the influence of drugs or alcohol, as well as extreme sports. If you’re into extreme sports, you might want to consider a plan that specifically covers those activities.

There are also situations that may not be valid reasons to cancel and make a claim, such as simply being afraid to travel, going for medical tourism, or pregnancies (unless you booked your trip and bought insurance before becoming pregnant or there are complications with the pregnancy). This is where adding “Cancel For Any Reason” coverage to your plan can be helpful.

Additionally, if you decide to cancel your trip too quickly, like due to a minor flight delay, it might not be enough to get a refund through your insurance plan. Make sure to check the specific requirements of your plan when it comes to canceling a trip or claiming trip interruption.

How do you find the best travel insurance?

Travel insurance can’t prevent mishaps during your trip, but it can protect your finances from their impact. We’ve assessed hundreds of policies, examining over 60 areas of coverage to help you choose wisely. Here, we highlight the top-performing policies in our analysis.

Best travel insurers and policies

In the first section, you’ll find the top 5 policies from our analysis. We’ve excluded providers with a below-average record of claims payment.

The subsequent tables feature the highest-scoring policy from each provider we assessed, without any filtering. Among the policies we reviewed, scores ranged from 83% to 29%.

Allianz Global Assistance

Key features

  • Annual and single-trip plans
  • Coverage for international and domestic trips
  • Stand-alone and add-on rental car damage options available
Allianz Global Assistance

Why we chose it:

Allianz Global Assistance, a trusted travel insurance company, offers plans for over 25 years. They offer single and annual policies. OneTrip Cancellation Plus, designed for domestic travelers, provides essential trip protection without post-departure benefits.

For our test trip, their basic coverage cost $91, slightly above the average price of $17.


  • Offers various insurance types.
  • Includes access to a 24/7 assistance hotline in all plans.


  • Above-average cost.
  • Rental car protection requires adding the One Trip Rental Car protector to your plan.

Travel Guard by AIG

Key features

  • Three inclusive travel plans and a convenient Pack N’ Go option designed for spontaneous travelers without the need for cancellation benefits.
  • Our plans encompass flight protection, car rental coverage, and medical evacuation insurance, with the added flexibility of annual plan options.
  • Enjoy the peace of mind with our Pre-existing Medical Conditions Exclusion Waiver, available on all plan tiers when purchased within 15 days of booking.

Why we chose it:

Travel Guard by AIG provides different plans to suit travelers. In addition to common protections like trip cancellation, interruption, baggage, and medical coverage, you can opt for the Cancel For Any Reason upgrade on specific Travel Guard plans. This upgrade lets you cancel your trip for any reason and receive 50% to 75% of your nonrefundable deposit back, as long as you cancel at least two days before your scheduled departure.

The Essential plan costs $75 for our sample trip, which is an average price.


  • Provides coverage for last-minute travelers.
  • Suitable for business travelers with specific plans.
  • Offers car rental coverage as an optional addition.


  • Cancel For Any Reason coverage is limited to higher-tier plans.
  • Enhancement bundles can increase the overall cost of your coverage.

Travel Insured International

Key features:

  • Offers both comprehensive and medical-only travel plans.
  • Flight plans encompass coverage for missed and canceled flights, as well as protection for lost or stolen baggage.

Why we chose it:

Travel Insured International provides various ways to customize your travel insurance. For instance, if you have pets, you can add kennel coverage, which helps with boarding costs if your trip is delayed. If you’re carrying expensive gear or attending a pricey concert or sporting event, think about adding coverage for your electronic equipment and ticketed events.

To get a quote and see what’s covered, make sure to check which policies are offered in your state. You’ll need to provide information about your destination, where you live, your travel dates, and the number of people traveling.


  • Choose between annual or single-trip policies to fit your needs.
  • Consider medical-only coverage as a useful supplement to your credit card’s trip interruption benefits.
  • Add Cancel for Work Reason coverage to lower-level plans if needed.


  • Some customizations are limited to higher-tier plans.
  • The coverage cost, at $95 for our sample trip, is above average.

World Nomads

Key features:

  • Comprehensive international travel insurance plans.
  • Coverage extends to adventure activities like trekking, mountain biking, and scuba diving.

Why we chose it:

Many travel insurance plans typically exclude coverage for adventure sports activities like skiing, bungee jumping, windsurfing, or parasailing. However, if you’re an adventurer at heart and plan to engage in these thrilling activities, it’s worth considering a specialized plan that covers them. 

In particular, the Standard plan, which costs $81 for our sample trip, may be suitable for travelers who can accept trip cancellation and interruption coverage capped at $2,500, don’t require rental car damage protection, find the coverage limits sufficient for their needs, and won’t be participating in certain more adventurous activities. This way, you can tailor your travel insurance to match your specific requirements while enjoying your adrenaline-pumping adventures with peace of mind.


  • The Standard plan provides coverage for emergency evacuation costs of up to $300,000.
  • Plans include automatic coverage for over 200 adventurous activities.


  • Cancel For Any Reason upgrades are not offered with these plans.
  • Pre-existing medical condition waivers are also unavailable.

Travelex Insurance Services

Key features:

  • There are three comprehensive plans to choose from.
  • Additionally, there is a post-departure plan designed specifically for disruptions that occur after you’ve left home.
  • You can select from two flight insurance plans.

Why we chose it:

Travelex Insurance Services offers a budget-friendly starting point with basic coverage priced at $63, which is approximately 15% lower than the average cost for our sample trip. Travelex emphasizes tailoring its plans to suit your specific travel style and trip type, allowing you to pick between comprehensive plans with medical benefits or more affordable options that lack cancellation coverage but still provide protections throughout your journey. This flexibility ensures you can find a plan that matches your travel needs and budget.


  • User-friendly website makes it simple to compare and select the ideal plan for your trip.
  • Provides a dedicated plan tailored for domestic travel.
  • The highest-tier plan offers extensive customization options without being overly expensive.


  • Limited customization options available on the Basic plan.
  • The Travel America plan, while suitable for domestic travelers, exclusively covers trips within the United States.

What factors to consider when picking travel insurance providers

We selected insurance providers based on several factors:

  • Breadth of Coverage: We assessed the number of plans each company offers and the variety within their standard plans.
  • Depth of Coverage: We examined two aspects to gauge how much each company pays for common travel problems – the maximum caps for trip cancellation and trip interruption claims.
  • Cost: We analyzed the basic coverage costs from multiple companies to establish an average cost for shoppers to use as a price reference.
  • Customizability: While standard plans are comprehensive, sometimes individuals require more personalized options.

Types of travel insurance

When you look for travel insurance, you’ll notice that many plans offer similar types of coverage.

Trip cancellation

This aspect of the insurance takes care of the money you’ve already spent on your trip if you have to cancel it for a valid reason. It helps you get back the money you paid in advance for things like flights and hotel bookings that can’t be refunded.

Trip interruption

This aspect of the insurance takes care of the money you’ve already spent on your trip if you have to cancel it for a valid reason. It helps you get back the money you paid in advance for things like flights and hotel bookings that can’t be refunded.

Trip delay

This part of the insurance handles the expenses you’ve already paid for your trip if you have to cancel it for a legitimate reason. It enables you to recover the upfront payments you made for items such as non-refundable flight tickets and hotel reservations.

Cancel For Any Reason

The “Cancel For Any Reason” coverage helps you get back some of the money you paid for a trip, even if you’re canceling for a reason that isn’t normally covered by your regular travel insurance. Usually, adding this extra protection to your plan comes with an additional cost.

Baggage delay

This coverage pays for necessary items you might require if your luggage is delayed during your trip. These items can include toiletries, clothing, and other immediate necessities if your luggage doesn’t arrive with your flight.

Keep in mind that different travel insurance plans have specific waiting times (like six, 12, 24 hours, etc.) before you can request compensation for a baggage delay.

Lost baggage

This is used when travelers lose their luggage or it gets stolen. It helps you recover the value of the things that were in your bag.

Make sure to follow the right steps according to your plan. Many plans have a maximum amount you can claim for all your lost items, as well as a limit for each individual item.

Travel medical insurance

This insurance takes care of your medical expenses when you have an emergency while traveling. Since most regular health insurance plans don’t cover medical treatment abroad, travel medical insurance can help you pay for these unexpected healthcare insurance costs.

Apart from emergency medical coverage, a lot of plans also offer medical evacuation or repatriation coverage. This helps pay for the expenses when you need to be transported to a hospital or sent back to your home country due to a medical issue.

How much does the travel insurance cost?

The cost of travel insurance can vary significantly. The final price of your insurance plan depends on several factors, such as your age, the duration of your trip, and your destination.

It also depends on the amount of coverage you require, whether you add extra policies like “Cancel For Any Reason” or coverage for pre-existing conditions, if you plan to participate in extreme sports, and other considerations.

For example, a 35-year-old traveler going on a $2,000 trip to Spain might pay an average of $80 for a basic plan that covers things like trip cancellation, interruption, and baggage protection. This is roughly 4% of the total trip cost, which is lower than the average.

If there are multiple people traveling together or if they plan to engage in activities like rock climbing or bungee jumping, the costs will be higher.

On average, travel insurance typically amounts to about 5% to 10% of the total trip cost. However, considering that many plans can reimburse up to 100% of the trip cost (or even more) in case of disruptions like trip cancellation or interruption, it can be a worthwhile expense to protect yourself if something unexpected happens.

Do I need travel insurance?

It depends on various factors. If you’re young, healthy, have refundable bookings, nonstop flights, and credit card protections, you might not need travel insurance.

However, if you’ve prepaid for a nonrefundable safari or are traveling during hurricane season or to a place with expensive healthcare, getting travel insurance is wise.

If you’re not getting travel insurance, consider booking refundable airfare and avoid prepaying for hotels, rental cars, and activities. This way, you can cancel without losing money if something goes wrong.

3 TIPS to compare travel insurance companies

1. Check tables and reviews

Our experts have given each travel insurance policy a score to show how comprehensive it is. However, even high-scoring providers may not cover everything you need. For more details on top providers, check our individual reviews.

2. Get a quote

When reading our reviews, you can get a travel insurance quote through our partner Confused.com. Using multiple comparison sites might help you save. If you have a medical condition, are over 65, or need coverage for specific activities like skiing, consider specialized insurers. There’s also insurance available for cruises.

3. Check the T&Cs

Before you purchase, read the policy details to understand what it covers and doesn’t. Ensure specific needs are met. Review exclusions and conditions. If uncertain, contact the insurer. Check what your holiday provider offers because you may need to seek compensation from them first. Find a new travel insurance policy through Confused.com for a great deal. Get a quote now.

How we analyse travel insurance

The policy score rates how extensive the coverage is, with higher scores indicating better coverage. It doesn’t consider claims, service, or price, only coverage levels.

In April 2023, we surveyed 56 travel insurance companies and analyzed 161 policies. We rated 67 key aspects of each policy. The policy score reflects overall coverage quality, with higher scores indicating more comprehensive coverage.

We initially rate each product element out of five to compare providers’ competitiveness. Then, we adjust their impact on the overall score based on importance. Elements like medical expenses, cancellation coverage, and policy excesses carry more weight.

Bottom line

Travel insurance can protect against unexpected events during your trip, like lost luggage or medical emergencies. Costs depend on factors like age, coverage type, and trip expenses, but it’s helpful for trip cancellations or interruptions.

Leave a Reply