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 plan for each travel insurance provider.
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The Best Travel Insurance Companies
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 plan for each travel insurance provider.
John Hancock Insurance Agency
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 plan for each travel insurance provider.
How We Determined the Scores
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.
The maximum possible score was 1,000 points per plan, broken down this way:
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Frequently Asked Questions
How many miles do you need for a free flight?
The number of miles you need for a free flight depends on different factors including which airline miles you are using, where you are flying to and from, when you are traveling and other factors. Domestic flights in the U.S. will generally require fewer miles than an international flight. Typically, count on spending between 4,000 and 20,000 miles for a domestic one-way flight in economy.
Long-haul international flights can cost quite a bit more. Plan on spending between 20,000 to 30,000 miles each way to fly to Europe and even more for flights to Asia, Africa, and Oceania.
Don’t forget to consider the cost of checked bags and fuel surcharges before booking your ticket.
What’s better: cash back or travel rewards?
Whether you should earn cash back or travel rewards depends on your personal preferences including when and where you want to travel, how much work you want to put into a redemption and how often you want to be able to use your rewards. As a general rule, using cash back rewards for travel-related purchases would be unwise. Travel rewards typically offer a higher rewards rate for travel-related purchases then a typical cash back rewards card.
The inverse is also true. If you are using a travel rewards credit card and redeeming your points for statement credit, you are typically losing out on a higher rewards rate than if you had used a cash back card instead. Therefore, if you’re a frequent traveler, choose a travel rewards card. If traveling is not your thing, a cash back rewards card would be a wiser choice.
Keep in mind, you can have both types of cards in your wallet.
Are travel rewards credit cards with an annual fee worth the cost?
Credit cards with annual fees typically are packed full of benefits that can make paying the annual fee worthwhile as long as you use the benefits offered. Before applying for a card with an annual fee, and regularly while you have the card, look at the benefits that you actually use and weigh those benefits against what you are paying to keep the card open.
How do travel rewards credit cards work?
A travel rewards credit card accrues miles or points for each purchase made with the card. Often, these cards have an enticing sign-up bonus that typically requires spending a certain amount of money within a specific time period after opening the card. After earning miles or points, there are typically a few redemption options including redeeming for airline tickets, gift cards or statement credits. As a general rule, redeeming miles and points for travel will result in the most value.
Why types of travel cards are there?
There are two types of travel credit cards.
Branded credit cards are specific to one airline or hotel chain. They typically offer less flexible rewards but sometimes offer greater value, especially when considering additional perks of the card like free checked bags or complimentary elite status.
Non-branded travel cards typically offer more flexible rewards that can either be transferred to a number of different airlines and hotels or redeemed at a fixed cash-value for travel, gift cards, and/or statement credits.
It makes sense to consider the rewards rate, additional perks, you travel patterns and your goals before determining if a branded or non-branded credit card is the best choice for you. It could also make sense to have one (or multiple) of each.
What credit score do you need to get a travel rewards credit card?
A travel rewards credit card will typically require good to excellent credit in order to qualify. Plan to have a credit score of at least 700 to get approved by the top credit cards on the market. Some of the top travel cards on the market might even require applicants to have a credit score of 720 or higher.
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 Better 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.
