Your Picks for Summer Travel

Travel can be one of the most pleasurable activities in life. That is, as long as nothing goes wrong. And that’s where travel insurance comes into the picture. For a relatively small additional cost, you can add a travel insurance plan to your itinerary that will give you complete peace of mind on your trip. That’s why we’ve assembled this list of the seven best travel insurance of 2022.

Before we take a deeper dive into what each of the seven best travel insurance providers offer, scan the table below for the basics:

Our Picks for Best Travel Insurance

There are dozens of companies offering travel insurance, but these are our picks for the seven best travel insurance of 2022:

Best Travel Insurance – Company Reviews

For each company, we’ve included breakdowns of coverage options, cancellation policy, and cost.

Since cost varies considerably based on travel dates, destination, costs, and many other factors, we’ve made this determination based on a cost quote from each provider using the same criteria.

*To provide a fair cost breakdown between the different providers, we obtained quotes from each company based on the following criteria:

• Travel dates: June 19 to June 26
• Destination: Bahamas
• Country of residence: United States
• State of residence: California
• Citizenship: U.S.
• Number of travelers: 2 (premium reflects total cost for both travelers)
• Traveler ages: 40 and 35
• Trip cost amount: $7,000
• First deposit date: March 19
• Payments remaining: None (fully paid)
• Coverages selected: Trip cancellation, interruption, medical and medical evacuation

With the above cost criteria in mind, let’s move on to our list of the seven best travel insurance of 2022:

Coverage Options: Trip cancellation, delay, emergency medical, medical evacuation, trip cost protection, extension of coverage, baggage and personal items loss, missed connection, accidental death, rental car damage

Cancellation Policy: Trip cancellation, interruption, hurricane and weather, terrorism, financial default, layoff, medical or employment reasons, or cancel for any reason

Cost: $168

Squaremouth got our choice for the best all-around travel insurance provider because of their search comparison engine that enables you to enter information, then receive quotes from every major provider in the country. The platform has provided travel insurance to more than 2.4 million customers, with more than $79 million in sales over the last 12 months alone.

The platform offers single-trip travel insurance, annual travel insurance policies, cruise insurance, group travel insurance, and even adventure and sports travel coverage.

Coverage Options: Trip cancellation, interruption, travel medical insurance, student travel, annual travel, visitor insurance coverage, group travel insurance

Cancellation Policy: Trip cancellation and interruption

Cost: $410

Seven Corners has provided travel insurance for more than 25 years, and even covers foreign travelers. Medical coverage for foreigners and for U.S. residents traveling internationally is offered under their Liaison Travel Medical Insurance. It will cover eligible medical expenses, trip interruption, and baggage, as well as give you access to the company’s international network of medical providers.

They’ll also arrange emergency medical transportation and evacuation to the nearest medical facility that can provide adequate treatment.

Coverage Options: Medical and dental, baggage, sporting equipment

Cancellation Policy: Trip cancellation and interruption

Cost: $216

Generali General has been in the travel insurance business for 30 years and counting. Each plan they offer comes with a 10-day free look to give you a chance to evaluate the policy. If you decide it won’t work for you, you’ll receive a full refund.

Generali General offers three different plans, Premium, Preferred, and Standard. While the Standard plan is best for travel within the U.S., Preferred is designed for international and sports-related travel, while Premium is for more costly trips. Coverage options and amounts are listed in the screenshot below:

Coverage Options: Medical expenses and evacuation, missed connections, luggage, baggage delays, accidental death

Cancellation Policy: Trip cancellation, interruption, and delays

Cost: $250

Berkshire Hathaway Travel Protection is part of Warren Buffett’s Berkshire Hathaway group, which is known for insurance (think Geico), among other things. Travel Protection is underwritten by Berkshire Hathaway Specialty Insurance Company, which enjoys an A++ (Superior) rating from A. M. Best, the insurance industry rating service.

Berkshire Hathaway Travel Protection offers three different plans, Exactcare Value, Exactcare and Exactcare Extra, to help you choose coverage that will meet your needs cost-effectively. Coverages under each plan are as follows:

Also be aware that each plan comes with 24/7 Worldwide Travel Insurance Assistance.

Coverage Options: Accident and sickness medical expenses

Cancellation Policy: Trip cancellation, interruption and delay, baggage delay, cancel for any reason (at to 75%)

Cost: $284

AXA Travel Insurance tops the list of providers in the category of travel assistance. They do this by offering plans in conjunction with travel assistance services. The setup is designed to not only compensate you for covered losses, but also to provide support during and after your loss.

AXA Travel Insurance offers three different plans, Silver, Gold, and Platinum. Each of the three plans provides trip cancellation protection up to 100% of the trip cost. Accident and sickness medical expenses are covered for up to $25,000 on the Silver plan, but up to $100,000 with Gold and up to $250,000 for the Platinum plan. (No deductibles apply to the accident and sickness plan.)

Coverage Options: Emergency medical and dental, pet medical, medical evacuation and repatriation, accidental death, baggage, and personal effects

Cancellation Policy: Trip cancellation and interruption, missed connection, cancel for any reason

Cost: $306

We especially like Travelex for their medical coverage, or what they refer to as “Primary Coverage.” That’s a feature enabling you to file directly with the insurer for any covered medical claim. That eliminates the much more common practice of requiring you to first file with your primary health insurance carrier. Or put another way, you only need to file a claim with one insurance provider, not two. And unlike traditional health insurance, Primary Coverage also comes with no deductible.

Travelex also offers medical coverage for pre-existing conditions. There are some requirements, including that you must be medically able to travel at the time the travel policy is purchased. They even offer pet medical expense coverage of up to $1,000 (available under the Travel America plan only).

Travelex offers three different plans, Select, Basic and Travel America:

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7. Best for Diversified Financial Services: Nationwide

Coverage Options: Emergency accident and sickness medical, accidental death and dismemberment, pre-existing condition waiver, baggage and personal effects, medical evacuation

Cancellation Policy: Trip cancellation and interruption, missed connection/trip delay, itinerary changes, cancel for any reason

Cost: $202

As one of the largest insurance companies in America, Nationwide offers a lot more than travel insurance. They offer most other insurance policy types, as well as investing in retirement, banking and borrowing, and life events and planning. They even offer business financial services, like employee benefits and plans. If you already have insurance coverage through Nationwide, purchasing your travel insurance with the same company will be a natural step.

Nationwide has travel insurance policies for cruise plans, single trip plans and multi-trip (or annual) plans. Each plan type also has two or three plan levels. Most plan types are available with a pre-existing medical condition waiver (exception: annual trip insurance plans).

Travel Insurance Guide

What does travel insurance cover?

Typical provisions of a travel insurance policy include the following:

• Trip cancellation. This provision will reimburse you for non-refundable trip purchases, like airline tickets. It typically covers a certain percentage up to a specific dollar amount.
• Trip interruption/delay. Similar to trip cancellation, except that it relates specifically to interruptions or delays. Also covers a certain percentage up to a specific dollar amount of loss.
• Emergency medical coverage. Covers medical emergencies that occur when you’re on your trip. It covers up to a fixed dollar amount and often requires you to first seek reimbursement from your primary health insurance provider.
• Medical evacuation. Pays up to a fixed dollar amount if you need to be transported to the nearest qualified health-care center, or even back to the U.S. Pays up to a fixed dollar amount.
• Repatriation. In the unfortunate event of your death, your remains can be transported back to the U.S. Pays up to a fixed dollar amount.
• Extension of coverage. Allows you to extend coverage beyond your scheduled return date if you’re unable to return home for any reason that’s beyond your control.
• Baggage and personal items loss. Reimburses you for the loss of your baggage or other personal items, including sporting equipment. Also pays up to a fixed dollar amount.
• Missed connection. Provides reimbursement of the additional cost for you to catch up to your trip if you miss your departure for a covered reason. Will pay up to a fixed dollar amount per event.
• Accidental death. Pays a fixed dollar amount if you die on your trip as a result of an accident. It typically applies to air travel events.
• Rental car damage. Provides the collision damage waiver if you are renting a car in your trip destination. This is becoming an increasingly important benefit because most credit cards no longer offer it. Rental car damage covers a portion of the vehicle rental that’s not covered by your primary auto insurance carrier.

The above is only a general list. Exactly which types of coverage options you’ll receive will depend on the travel insurance provider, the specific plan you select, and the plan level. Be aware that the coverage options will vary at each stage of the process.

How much does travel insurance cost?

We’ve provided the cost range of a standard policy for all seven travel insurance providers on this list, ranging from $168 to $410 for two people traveling together. But that range is no better than an in-the-ballpark estimate based on a very specific trip profile.

What that range does highlight, however, is that there is a wide range of costs when it comes to similar plans. Be sure to shop between multiple companies using identical trip criteria. And though it can be complicated, it’s also important to factor in the maximum dollar amount of benefit paid, along with any percentage limitation applied to each.

Many travel insurance companies advertise very low-cost plans, starting as low as $59 per person. However, those are stripped-down plans with minimal coverage. The only way to know which company offers the most cost-effective travel insurance plan is to get quotes from each.

It’s a matter of comparing apples to apples. It doesn’t matter which company advertises the lowest premium for a very minimal plan, but rather what the cost will be for the coverage level you need.

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Travel and COVID

COVID-19 has ushered in a whole new era in travel, specifically as it relates to travel risks. As a global pandemic, it affects the entire planet, which means travel to just about any destination. But now that the pandemic has been around for more than two years, and vaccinations have become widespread, COVID-specific requirements have become more standardized from one country to another.

Be sure to check specific COVID travel requirements for the state or country you plan to travel to. The information is typically available on the Internet.

As of June 2022, COVID travel restrictions in the U.S., according to the Centers for Disease Control and Prevention (CDC), are as follows:

• Everyone aged two years or older should wear a well-fitting mask or respirator in indoor areas of public transportation and in transportation hubs.
• For air travel, you’ll need a negative viral test no more than one day before your flight.
• You’ll need to provide acceptable proof of vaccination, as well as to complete and sign an attestation.

The CDC rules for travel are constantly changing and should be reviewed prior to any trip. For international travel, be sure to consult the Internet for specific requirements in the destination country.

How We Found the Best Travel Insurance

We used the following criteria to determine the best travel insurance providers of 2022:

Coverage options: This includes not only the number of options offered, but also the dollar and percentage limits, and any potential “gotcha” provisions.

Cancellation policy: Cancellation is often the primary reason for choosing a travel insurance policy at all. We favored the companies that offer coverage for the most cancellation events, and with the greatest level of reimbursement.

Cost: Since travel is already on the expensive side, the last thing anyone needs is to pay a big fat premium for adding travel insurance to the mix. We included companies that offer competitive premium levels for the most comprehensive coverage possible.

In addition to the three criteria above, we also considered the popularity of the company as a provider in the travel insurance space, as well as ratings by independent ratings agencies.

But be sure to do your own due diligence before settling on a provider. The best travel insurance provider will be the one that provides the best plan for you.

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Summary of the Best Travel Insurance

Once again, below is our list of the seven best travel insurance in 2022:

Travel insurance is rarely required, but it’s almost always well worth having. While we normally associate fun with travel, there are risks involved as well, especially in regard to international travel. Having a good travel insurance plan in place will be a small price to pay for the peace of mind it will provide.