Most people look forward to exploring the world and getting away from their busy lives. However, most people fear the travel risks and medical risks it might have on them. According to Readytrip.com, research suggests that there have been 137 fatalities in 2020, supporting the belief. However, a logical and easy way to avoid this is by investing in travel insurance. It will keep you protected from medical emergencies and travel risks such as passport loss, and the company is bound to assist you at all times. If you are confused about which travel insurance company to choose, do not worry. This article will discuss the five best travel insurance companies that are the perfect companion for your vacations.
AXA Assistance USA
AXA Travel Insurances offer the best security for baggage and personal effects. The insurance company has been in the top position for ten years on Interbrand. You can take advantage of their 24/7 concierge services to get recommendations and last-minute reservations for spending your leisure time. The best part of AXA Assistance is that they provide their service across the globe and are focused on supporting you through any loss during your travels. Some instances covered by AXA Assistance’s Travel Insurance are – Baggage Loss, Travel Interruption, Airline Cancellation (75% coverage on prepaid nonrefundable trip costs), Trip Cancellation, Emergency Medical Expenses, and more. AXA Assistance offers three insurance plans – Silver, Gold, and Platinum. The Platinum plan has $250,000/$1 million medical & evacuation limits per person.
Travelex Insurance Services
Travelex Insurance Services offer extensive coverage and allow one to customise their insurance plans. One can opt for available upgrades like the inclusion of car rental, medical emergencies, and more. However, unlike the AXA Assistance USA, Travelex does not offer adventure sports insurance coverage. Other than primary insurance coverage, you also get trip interruption, trip delay, trip cancellation, and lost baggage benefits. Thus, you can enjoy your hard-earned vacation without the worries of having to spend too much. You can choose anyone out of the three plans they offer – Travel Basic, Travel Select, and Travel America. The Basic plan is for those under a budget (including students and backpackers), while the Select Plan is for foreign vacations or family outings or business trips. Additionally, the Basic Plan covers 100% of the trip cancellation and interruption charges and has a $500 limit for trip delays.
Allianz Travel Insurance
Allianz Travel Insurance is one of the most affordable travel insurance companies for frequent travellers. You do not need to break the bank to get travel insurance for every trip you take. The company charges a low fee per trip with optional upgrades to suit varying needs. Allianz Travel also has an app to help people take advantage of their services and make them accessible. The travel insurance company has won awards for offering exceptional customer support 24/7 and connecting customers to a network of state-of-the-art medical facilities. Allianz Travel has four annual insurance plans, with the AllTrips Executive providing the most benefits. The trip cancellation/interruption coverage starts at $5000, and the Executive Plan offers $50,000 for emergency medical and $250,000 for emergency transportation.
Nationwide Mutual Insurance Company via SquareMouth
The insurance company has been in the industry since 1926, offering diverse financial services to organisations all across the globe. Nationwide Mutual Insurance Company focuses on providing the best insurance plans to its stakeholders and customers worldwide. They offer plans to protect your single trips covering up to $10,000 and $30,000 in the Essentials and Prime Plan, respectively. If you are going on a cruise, you can choose from the custom-tailored plans – Universal Cruise Plan, Choice Cruise Plan, and Luxury Cruise Plan. Unlike the insurance companies discussed above, Nationwide Mutual Insurance Company’s plans offer benefits considering incidents such as bad weather, school session extension, work emergencies, and terrorist attacks.
World Nomads USA offers insurance plans for adventure travellers designed by experts. The company keeps its users updated about safety tips and the latest news and alerts them about emergencies (if any). World Nomads’ plans offer extensive coverage for medical and emergency evacuations. The company has single-trip plans, which is useful for those who enjoy flexibility. Their mutual policy has a $100,000 limit on emergency accidents and diagnosis, $500,000 for emergency evacuations, and more.
We looked at more than 20 different travel insurance companies offering detailed plans to shortlist the five best ones. The article focused on coverage options and policy limits to ensure you are armed with the right knowledge before buying a plan. We hope the article helped you narrow down your options to get you started with exploring!