Here’s a breakdown of how we reviewed and rated the best travel insurance companies
Travelex offers affordable coverage and provides sufficient protection for most travelers. We at the MarketWatch Guides team researched Travelex so you can see whether it’s the best travel insurance provider for you.
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
Our Thoughts on Travelex Travel Insurance
After researching and rating 20 travel insurance providers using a comprehensive methodology, the MarketWatch Guides team gave Travelex a rating of 4.9 out of 5 stars. We named it our top pick for family-friendly coverage, thanks to its coverage options for children and below-average costs for travel insurance.
Travelex scored highly in most of our featured review categories, earning full points for medical coverage, cancel for any reason coverage and customer service. However, it lost points for not covering jewelry, electronics or non-medical emergency evacuations.
If you’re looking for budget-friendly coverage for both U.S. and international trips, we recommend getting a quote from Travelex.
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
- Average plan cost: $176–$248
- Emergency medical coverage: $10,000–$100,000
- Trip cancellation coverage: 100%
- CFAR coverage: 75%
| Travel Basic | Travel Select |
|---|---|
| Trip Cancellation | Trip Cancellation |
| Trip Interruption | Trip Interruption |
| Trip Delay | Trip Delay |
| Missed Connection | Missed Connection |
| Baggage & Personal Effects | Baggage & Personal Effects |
| Baggage Delay | Baggage Delay |
| Sporting Equipment Delay | Sporting Equipment Delay |
| Car Rental Collision Coverage | Car Rental Collision Coverage |
| Emergency Medical Expense | Emergency Medical Expense |
| Emergency Medical Evacuation & Repatriation of Remains | Emergency Medical Evacuation & Repatriation of Remains |
| Accidental Death & Dismemberment (AD&D) | Accidental Death & Dismemberment (AD&D) |
| Kids-Included Pricing | |
| Primary Coverage | Primary Coverage |
| 24/7 Travel Assistance | 24/7 Travel Assistance |
| Maximum Trip Length | Maximum Trip Length |
| Early Purchase Benefit: Financial Default | Early Purchase Benefit: Financial Default |
| Early Purchase Benefit: Pre-existing Medical Condition Exclusion Waiver | |
| Early Purchase Benefit: Cancel for Work Reasons | |
| Upgrade: Cancel for Any Reason | |
| Upgrade: Car Rental Collision Coverage | Upgrade: Car Rental Collision Coverage |
| Upgrade: Additional Medical Coverage – Additional Emergency Medical Expense | |
| Upgrade: Adventure Sports Exclusion Waiver | |
| Upgrade: Flight Accidental Death & Dismemberment (AD&D) | Upgrade: Flight Accidental Death & Dismemberment (AD&D) |
Pros and Cons
Covers one child for every adult protected under Ultimate plan benefits
Provides up to nine add-on coverages depending on plan choice
Available add-ons depend on your choice of plan
How Travelex Scored in Our Methodology
Based on our method of reviewing travel insurance plans and providers, Travelex scored 4.9 out of 5 stars. This is an above-average rating among the more than 20 providers we rated after an in-depth review. Travelex performed best in the following categories: customer service and reviews, ease of use and medical coverage.
| Rating Factor | Score (Out of 5) |
|---|---|
| Overall | 4.9 |
| Trip Coverage | 4.7 |
| Cost | 5 |
| Coverage Extras | 4.5 |
| CFAR Coverage | 75% |
| Cancellation Coverage | 100% of trip cost |
| Interruption Coverage | Up to 150% of trip cost |
| Delay Coverage | $2,000 (with minimum delay of 5 hours) |
| Customer Service and Reviews | 5 |
| Credit Rating | A++ (AM Best) |
| Ease of Use | 5 |
| Claims | 4.8 |
| Medical Coverage | 5 |
Compare Travelex to Other Travel Insurance Companies
Learn more about how Travelex compares to its competition in the table below.
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
| Company | Average Plan Cost | CFAR Coverage | COVID-19 Coverage | BBB Rating | |
|---|---|---|---|---|---|
|
$202
|
Yes, up to 75%
|
Yes
|
A+
|
||
|
$256
|
Yes, up to 75%
|
Yes
|
Not Rated
|
||
|
$206
|
Yes, up to 75%
|
Yes, limited
|
A+
|
||
|
$201
|
Yes, up to 60%
|
Yes
|
A+
|
||
|
$137
|
Yes, up to 75%
|
Yes, limited
|
A+
|
||
|
$180
|
Yes, up to 75%
|
Yes
|
B
|
||
|
$218
|
Yes, up to 75%
|
Yes, limited
|
C-
|
||
|
$212
|
Yes, up to 75%
|
Yes, limited
|
A-
|
||
|
$206
|
Yes, up to 75%
|
Yes
|
A+
|
||
|
$237
|
Yes, up to 50%
|
Yes, limited
|
A+
|
| Company | BBB Rating | Average Plan Cost | CFAR Coverage | COVID-19 Coverage | |
|---|---|---|---|---|---|
|
A+
|
$202
|
Yes, up to 75%
|
Yes
|
||
|
Not Rated
|
$256
|
Yes, up to 75%
|
Yes
|
||
|
A+
|
$206
|
Yes, up to 75%
|
Yes, limited
|
||
|
A+
|
$201
|
Yes, up to 60%
|
Yes
|
||
|
A+
|
$137
|
Yes, up to 75%
|
Yes, limited
|
||
|
B
|
$180
|
Yes, up to 75%
|
Yes
|
||
|
C-
|
$218
|
Yes, up to 75%
|
Yes, limited
|
||
|
A-
|
$212
|
Yes, up to 75%
|
Yes, limited
|
||
|
A+
|
$206
|
Yes, up to 75%
|
Yes
|
||
|
A+
|
$237
|
Yes, up to 50%
|
Yes, limited
|
What Does Travelex Cover?
Travelex offers three comprehensive travel insurance policies, one on-trip plan, and two plans that cover flight-related expenses. The Ultimate plan offers early purchase benefits such as pre-existing medical condition exclusion waivers, cancel-for-business-reasons upgrade, CFAR coverage and more. The provider’s on-trip plan offers seven upgrades, including rental car damage coverage
Travelex Policy Options
Travelex’s three comprehensive plans are called Ultimate, Advantage and Essentials. Each policy includes valuable trip benefits like cancellation and interruption insurance. The company also includes medical coverage, baggage benefits if your belongings are lost or delayed and accidental death and dismemberment coverage.
- Ultimate: As Travelex’s highest overall coverage tier, this plan covers trips that last up to 180 days. If you purchase the Ultimate plan, you’ll have the added perk of coverage for one child per every insured adult. Early purchase benefits include financial default coverage and a pre-existing condition waiver. In addition, this plan offers the most upgrades, with nine add-ons available.
- Advantage: The Advantage plan is a more affordable option offered for trips of up to 30 days in length. This plan covers up to 125% of travel expenses if your trip is interrupted, as well as up to $1,000 in benefits for lost baggage and primary medical coverage of up to $50,000. This policy also includes added benefits like coverage for missed connections, baggage delays, accidental death and disappearance. Customers can choose from six add-on options.
- Essentials: The Essential plan is Travelex’s most affordable comprehensive policy. Travelers get up to $750 toward lost baggage, 100% coverage for trip cancellation or interruption, and secondary medical coverage of up to $25,000. This plan also has six add-on options, including rental car coverage, pet benefits and higher limits on baggage benefits.
In the table below, we compare major features of coverage found under the Ultimate, Advantage and Essentials plans from Travelex.
After gathering quotes from Travelex using seven unique traveler profiles, we found that the provider’s Essential plan is the most budget-friendly for comprehensive international coverage.
| Coverage | Ultimate | Advantage | Essentials |
|---|---|---|---|
| Trip Cancellation | 100% (up to $50,000) | 100% (up to $10,000) | 100% (up to $10,000) |
| Trip Interruption | 150% (up to $75,000) | 125% (up to $12,500) | 100% (up to $10,000) |
| Travel Delay | $2,000 | $1,000 | $600 |
| Missed Connection | $750 | $500 | $150 |
| Baggage and Personal Effects | $2,000 | $1,000 | $750 |
| Baggage Delay | $500 | $200 | $200 |
| Rental Car Damage | Available as an add-on ($50,000 in coverage) | Available as an add-on ($50,000 in coverage) | Available as an add-on ($50,000 in coverage) |
| Emergency Medical Expense | $250,000 | $50,000 | $25,000 |
| Emergency Medical Evacuation and Repatriation | $1 million | $250,000 | $200,000 |
| AD&D | $25,000 | $20,000 | $10,000 |
| 24/7 Travel Assistance | Yes | Yes | Yes |
| Cancel for Work Reasons | Early purchase benefit | Not available | Not available |
| Financial Default | Early purchase benefit (100% of insured trip) | Early purchase benefit (100% of insured trip) | Not available |
| Pre-Existing Conditions Exclusion Waiver | Included if plan is purchased within 21 days of first trip payment and full trip cost is insured | Not available | Available |
| CFAR Coverage | Available as an add-on (up to 75% of expenses) | Not available | Not available |
| Additional Emergency Medical Coverage | Available as an add-on (up to $250,000 in coverage) | Not available | Not available |
| Adventure Sports Exclusion Waiver | Available | Available | Available |
| Accidental Air Death | Available as an add-on ($200,000 to $1 million in coverage) | Available as an add-on ($200,000 to $1 million in coverage) | Available as an add-on ($200,000 to $1 million in coverage) |
Beyond Travelex’s three primary plans, travelers can purchase an on-trip plan or one of the company’s two flight plans. The on-trip plan, known as Travel Med Go, does not have trip cancellation coverage but includes travel medical insurance, plus coverage for trip interruptions, delays and missed connections. To extend your policy benefits, you can add one or more of seven add-ons, ranging from added medical and baggage coverage to pet care benefits.
For flight coverage, Travelex offers the Flight Insure and Flight Insure Plus plans. Flight Insure solely provides flight accidental death coverage and 24/7 travel assistance for trips lasting up to 180 days. Flight Insure Plus provides additional coverages such as missed connections, baggage, travel medical insurance and medical evacuation coverage.
Travelex Optional Add-On Coverages
Travelex has nine optional add-on coverages, with availability depending on your base plan. Note that some add-on benefits may not be needed if your standard coverage already includes this protection:
- CFAR coverage: This plan upgrades your travel insurance policy to include reimbursement for cancellations outside the reasons stated in your policy. Typically, travel insurance will only reimburse you for cancellations in specific situations, such as major illnesses, deaths or events that make travel unsafe. With CFAR coverage, you’ll be reimbursed up to a certain percentage of your non-refundable insured trip costs when you cancel a trip. However, note that Travelex only offers CFAR add-on options if you have its Ultimate plan. With this upgrade, you can be reimbursed up to 75% of eligible travel expenses.
- Rental car damage coverage: This coverage can pay for damage to a rental car if you’re involved in an accident while traveling. However, Travelex covers accident-related claims only — not liability, which is often legally required to drive a rental car. Travelex’s rental car damage coverage add-on is available for four of its plans. Upgrades include up to $50,000 in collision damage with a deductible of $100.
- Additional medical coverage: This option provides additional emergency medical expense coverage, bumping up your policy’s existing limits. Travelex offers this option on its Ultimate and Travel Med Go plans, with up to $250,000 in additional medical coverage available.
- Adventure activities waiver: If you plan to participate in extreme sports or other activities excluded from your coverage, this upgrade can ensure your protection in the event of an accident. Travelex offers its adventure activities exclusion waiver on four of its policies, with a selection of benefits included under this upgrade. Add-ons cover up to $100,000 in security evacuations and up to $10,000 in search and rescue expenses, while also extending medical coverage to include a wider range of circumstances.
- Accidental flight death for air travel: This offers financial relief if you or another traveler under your policy loses a life while flying. Coverage is available between $200,000 and $1 million, depending on your plan choice.
- Additional baggage benefits: Extended baggage benefits are available on four Travelex plans. As an add-on, policyholders get up to $4,250 in extra baggage benefits depending on their plan. Individual coverage limits apply for sporting equipment rentals and delays, as well as for electronics and professional equipment.
- Cancel for business reasons: Another upgrade limited to Ultimate coverage only, this add-on provides you with up to 100% of insured trip costs ($10,000 maximum) when you need to cancel for valid business-related reasons. This benefit is included with the Ultimate plan if purchased within 15 days of your initial trip payment.
- Pet care: Travelex’s pet care upgrade pays for up to $2,500 in unexpected veterinary expenses and up to $250 in coverage for pet care while on vacation. This add-on is available on four plan options.
- Rental property security deposit upgrade: If you damage a rental unit while on vacation, this add-on covers up to $2,000 toward forfeited security deposits. You can add this optional benefit to four of Travelex’s plans.
How Much Does Travelex Cost?
After shopping and gathering quotes for various Travelex plans, our research team found that the average cost of a policy is $202. This is slightly less than the average calculated across 20 different providers we’ve rated and reviewed using our travel insurance methodology. Note that your exact travel insurance costs will vary based on factors such as your age, destination, total trip cost and more.
After gathering quotes from 20 providers using the seven traveler profiles featured in the table above, our team found that the average cost of a travel insurance policy is $204. Comparatively, the average cost of a Travelex plan is around $202.
Does Travelex Offer 24/7 Travel Assistance?
Travelex provides 24/7 travel assistance with all plans. Its multilingual team can help with various situations and challenges you may encounter during your travels.
Travel assistance from Travelex can help you find medical assistance, provide emergency cash transfers, help with flight and hotel rebooking, and more. Representatives can also help you find the right services to navigate any legal matters while you’re on a trip. Travelex provides a travel assistance team to help at no additional cost to you, whether you are looking for the nearest medical provider, replacing missing or lost prescription medications, making new travel arrangements or dealing with a foreign country’s government officials.
How To Buy a Policy From Travelex Travel Insurance
You can purchase Travelex plans entirely online without the assistance of a customer representative. However, if you’d like to speak to customer service, you can call the number on Travelex’s website or use the company’s online chat option.
When starting the quote process with Travelex, you must provide information such as your travel destination, departure and return dates, state of residence, age, trip cost and more. The provider will then give you immediate quotes for each plan you’re eligible for. In our experience, Travelex makes policy information easily accessible, with sample contracts for each plan presented upfront when choosing a policy.
Once you’ve reviewed what each plan offers and made a selection, you’ll be shown optional upgrades. Our team appreciated how Travelex clearly explained each add-on, including coverage limits and inclusions.
After selecting your plan and desired add-ons, you will need to provide more personal information to finalize your purchase. Be prepared to enter your address, email and contact phone number. You’ll also be asked to supply travel information for any airlines, cruise lines or tour operators you’ll be using on your trip. From here, you can finalize your purchase and receive your policy documents via email. Overall, our team found Travelex’s purchasing process to be relatively simple and straightforward.
Travelex Travel Insurance Reviews
Customer reviews — both positive and negative — can shed light on the type of service a travel insurance company provides its policyholders. Our research team browsed third-party review sites such as Trustpilot and the Better Business Bureau (BBB) to see how customers regard Travelex. At the time of writing, we found that Travelex holds a 4.4 out of 5-star rating through Trustpilot and an A+ rating with the BBB. Here’s a summary of sample customer reviews.
What Customers Like:
- Helpful customer service representatives: Several customers felt Travelex customer representatives were helpful and made their purchase options clear.
- Fast claims payment: Some reviewers praised Travelex’s swift claims payments.
- Ease of filing claims: Some customers noted how easy it was to fill out the claim form and download the necessary documents for filing.
What Customers Don’t Like:
- Claims-related communication: Some reviews cited a lack of communication surrounding their claims.
- Long claims process: Some customers complained about how long claims processing took, saying they waited several months.
- Denied claims: While complaints of denied claims are common in the travel insurance industry, some reviewers expressed frustration over Travelex denying their claim.
Our team reached out to Travelex for comment on the negative reviews and instances of low scoring in this review but did not receive a response.
How To File a Claim With Travelex
Travelex allows you to file a claim using an online form on its website. To submit your claim, you’ll need your plan identification number, which Travelex lists on documents such as your policy brochure, contract and confirmation of coverage. If you have any claims-related questions or need assistance with your submission, you can contact the claims team through the contact information listed on Travelex’s website.
Is Travelex Travel Insurance Worth It?
Deciding whether Travelex travel insurance is worth it is a personal decision. According to our research, the provider’s plans are priced below average for both domestic and international trips, making it worth considering if you’re looking for protection on a budget.
However, Travelex offers lower medical coverage limits than other providers we’ve reviewed. The availability of add-ons also depends on your chosen plan, with the most comprehensive and expensive plan providing the most add-on options.
We found Travelex’s quote and purchasing process to be relatively straightforward, with policy information easily accessible through sample contracts online. As a best practice when shopping for travel insurance, we encourage you to compare quotes from various providers and read customer reviews online. This process can help ensure that you find a provider that suits both your needs and budget.
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Travelex Insurance Review: FAQ
Below, we answer common questions about Travelex reviews and the provider’s travel insurance plans:
Travelex has more than 25 years of experience in the travel industry and is underwritten by insurance industry giant Zurich. According to our research, Travelex is a reputable source when shopping for a travel insurance policy.
After gathering quotes from Travelex using seven different sample traveler profiles, we found the average cost of a policy is $202. This is slightly less than the average cost we calculated across 20 different providers of around $204. However, your costs will vary based on various factors.
Travelex offers a total of six travel insurance plans, which include both domestic and international protection options. Options are available for plans up to 180 days in length, and low-cost options that only cover your flight are also available for travelers on a budget.
According to our research, the average cost of a travel insurance policy is $204. Our team calculated this average using quotes we gathered from 20 travel insurance providers. We used seven unique sample traveler profiles to find the estimated average costs for travelers of various ages.
Methodology: Our System for Rating Travel Insurance Companies
*Data accurate at time of publication.
