Best Travel Insurance For 2020

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Whether you’re traveling in the best of times or in uncertain times, a solid travel insurance policy can save you substantial money and frustration.

There are countless things that could go wrong on a trip, from lost luggage to getting sick. While travel insurance can’t prevent the problems, it can reimburse you and, if necessary, help get you back home.

To evaluate the best travel insurance companies, we scored 15 coverage features (detailed below) for multiple travel insurance plans for each company. We focused on features that are important if you’re laying out money for a big trip and looking for a wide array of coverage and high reimbursement levels. To rank the companies, we used the highest-scoring policy for each travel insurance provider.

The Best Travel Insurance Companies

Best: AIG Travel Guard

John Hancock Insurance Agency

Rating

5 stars

View Details

Why We Picked It

AIG Travel Guard topped our rankings with the highest overall score. Its “Deluxe” travel insurance plan is for the traveler who wants to cover all their bases, with extensive coverage options and top-notch reimbursement levels in case things go wrong.

Pros

Top-notch for trip cancellation coverage, with up to $150,000 in reimbursement.
Excellent coverage level for medical expenses and emergency medical evacuation
Can cover pre-existing conditions that flare up during a trip.
Inconveniences covered include hotel infestation, runway delays and closed attractions.
The plan’s “cancel for any reason” coverage lets you cancel the trip for any reason, at your discretion, as long as it’s cancelled at least 48 hours in advance of departure.

Cons

The Deluxe plan’s missed connection reimbursement ($1,000) is not the highest among the plans we surveyed but was still on the generous side
If you want “cancel for any reason” coverage, you’ll need to purchase the policy within 15 days of your initial trip deposit. Some other companies allow 21 days.

AIG Travel Guard topped our rankings with the highest overall score. Its “Deluxe” travel insurance plan is for the traveler who wants to cover all their bases, with extensive coverage features and top-notch reimbursement levels in case things go wrong.

For medical problems while traveling, the Deluxe plan has coverage for medical expenses and emergency medical evacuation, and can cover pre-existing conditions that flare up during your trip.

Inconveniences covered by AIG Travel Guard Deluxe, which can turn into travel nightmares, include hotel infestation, runway delays and closed attractions.

And, importantly, the plan’s “cancel for any reason” coverage lets you cancel the trip for any reason, at your discretion, as long as it’s cancelled at least 48 hours in advance of departure.

Travel Insurance Company Ratings

Rank	Insurance company	Highest-scoring plan	Score out of 1,000	Forbes rating
1	AIG Travel Guard	Deluxe	975
2	John Hancock Insurance Agency	Gold	950
3	USI Affinity Travel Insurance Services	Travel Insurance Select – Elite	910
4 (tie)	C&F Travel Insured	Worldwide Trip Protector Plus	900
4 (tie)	TravelSafe	Classic	900
6	Seven Corners	RoundTrip Elite	800
7	AXA Assistance USA	Platinum	785
8 (tie)	Generali Global Assistance	Premium	775
8 (tie)	HTH WorldWide	TripProtector Preferred	775
10	Trawick International	Safe Travels First Class	760
11	April	Cruise Plan	750
12	Travelex	Travel Select	725
13	Tin Leg	Tin Leg Gold	685
14	Allianz	OneTrip Premier	675
15	Berkshire Hathaway Travel Protection	ExactCare	660

Best for Baggage Loss

These providers have the highest total possible reimbursement for lost baggage among the companies we surveyed ($3,000):

AXA Assistance USA – Platinum plan
Trawick International – Dogtag Extreme
Trawick International – Dogtag Extreme Plus

Best for Baggage Delay Reimbursement

These plans have the highest possible reimbursement for a baggage delay, per person under the policy:

Allianz AllTrips Premier: $2,000
AIG Travel Guard Annual: $1,000
Allianz AllTrips Executive: $1,000

Best for Missed Connection Coverage

If you miss a connection due issues such as weather or a carrier delay, these plans offer the highest reimbursement for your trouble:

TravelSafe Classic: $2,500
AXA Assistance USA Platinum: $1,500
Seven Corners Roundtrip Elite: $1,500
USI Affinity Travel Insurance Services – Travel Insurance Select Elite: $1,500

Best for Trip Interruption Coverage

If you can’t continue the trip because of a reason listed in the policy, most plans we examined provide 150% reimbursement. These plans provide the highest percentage:

HTH WorldWide TripProtector Preferred: 200%
Generali Global Assistance Premium: 175%

Best for Trip Cancellation Coverage

If you’re shelling out big money for an extravagant vacation, you want top-notch trip cancellation coverage. These plans have the highest monetary reimbursement maximums:

AIG Travel Guard Deluxe: $150,000
AIG Travel Guard Preferred: $150,000

How We Determined the Scores

We scored 15 coverage features in each travel insurance plan. Each company’s highest-scoring plan was used to determine the overall rankings. The maximum possible score was 1,000 points per plan, broken down this way:

Baggage loss/damage reimbursement: 50 possible points

Swimsuit for the pool? Nope? A jacket and tie for dinner? Negative. Arriving at your destination and finding you don’t have your stuff can put a halt to further plans you’ve made. This coverage reimburses you. Check the policy for special limits on items, especially on jewelry and electronics. You may be required to have original receipts in order to get better reimbursement.

Baggage delays/time: 50 possible points

How long does your baggage have to be delayed in order to get reimbursement? Common time windows are more than 12 hours or more than 24 hours. If those 12 extra hours can make a difference to you, look for that in a policy.

Missed connection coverage: 50 possible points

This coverage pays out if you miss a connection because of weather or a common carrier delay.

Trip/travel delay time: 50 possible points

This coverage rule determines how long your trip must be delayed in order for you to get reimbursement. We gave higher scores to lower times.

Trip/travel delay dollar reimbursement total: 50 possible points

This indicates the maximum possible reimbursement if you suffer through a travel delay. Make sure to also look at the per-day maximum.

Trip interruption reimbursement percentage: 100 possible points

This key coverage reimburses you for expenses if you’re unable to continue your trip for unforeseen reasons that are defined in the policy. These typically include sickness and injury, being called to military service, or having a named hurricane destroy your residence or destination.

Trip cancellation maximum dollar reimbursement: 150 possible points

Make sure to check a plan’s details for reimbursement if you have to cancel your trip. The acceptable reasons for cancellation will be outlined in the policy and generally include problems like sickness or injury, being involuntarily terminated from your job, being required to work, or a natural disaster or fire that makes your primary residence or your destination uninhabitable.

Cancel for any reason coverage: 100 possible points

Trip cancellation coverage, above, kicks in for reasons listed in the policy. But “cancel for any reason” coverage gives you wide latitude in canceling your trip and getting some reimbursement, no matter the reason. This can be key for very expensive trips where you have a lot to lose. But make sure to note the maximum reimbursement if you buy this coverage because it’s generally only 50% to 75% of the trip cost, with a dollar maximum, such as $75,000.

Travel medical expenses: 100 possible points

This coverage will reimburse you for reasonable costs of medical expenses if you get sick or injured. This can include hospital, doctor, prescription medication and physical therapy charges.

Emergency medical evacuation: 100 possible points

Insurance can shine during the big problems in life, and needing evacuation when you’re sick or injured is one of them. This coverage pays transportation costs to get you to a place with adequate care, among other benefits.

Coverage for pre-existing medical conditions: 50 possible points

Many travelers venture out despite medical conditions. It covers costs if you have to cancel or interrupt your trip. Without it, your plan may not cover expenses due to pre-existing conditions. You may need to purchase travel insurance within a certain time period of booking the trip in order to get pre-existing coverage, such as 15 days. Plans scored points if this coverage was available as an add-on or included.

Rental car collision coverage: 50 possible points

If you’re planning to rent a car, it’s convenient to include coverage in a larger travel insurance policy. It pays out if you damage a rental vehicle. Plans scored points for this if it was optional or included.

Free look period: 50 possible points

It’s good to have options, such as changing your mind about the insurance you just bought. Some plans give you only 10 days to change your mind. We gave more points to plans with longer windows, such as 15 days.

Runway delay: 25 possible points

This coverage gives you a small windfall for your suffering if you have to sit on the runway for a certain period of time, defined in the policy, such as two hours.

Closed attractions: 25 possible points
What if you get to DisneyWorld and it closes due to a hurricane? This coverage type compensates you for the missed fun. Read the policy closely because the circumstances for coverage may be narrowly defined.

Less Coverage Might Be a Fit

We used each company’s highest-scoring plan to determine the company rankings. These plans have the fullest benefits that will provide protection to a traveler who has a lot to lose if a trip goes bad. But you might find that a slimmed-down plan with fewer features and/or less coverage is right for your particular trip.

You’ll also save money by buying a plan that aligns most with your trip and your main travel concerns.

Methodology

We scored 15 factors in multiple travel plans from the companies shown. Each company’s highest-rated plan was used to determine our overall rankings. Some plans might not be available in all states. Some coverage features that we scored, such as “cancel for any reason” coverage, might be temporarily unavailable, depending on the company.

Forbes adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Rob Berger

Forbes Staff

Rob is the Deputy Editor of Forbes Money Advisor. He graduated in 1992 from law school and practiced law in Washington, D.C. for 25 years. He's written about personal finance and investing since 2007 and is the author of the upcoming book, Retire Before Mom and Dad.

Rob Berger

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First Published: May 15, 2020, 7:33am