Best Travel Insurance Of 2023: Top 5 Companies Most Recommended By Experts

Vacation season is right around the corner, which means the time to plan your next trip is now. Of course, choosing a destination, booking a hotel, and researching excursions are all important to-do list items. But securing the best travel insurance to protect your upcoming adventure is equally important to enjoying a worry-free trip. Wherever your plans are taking you this summer, travel insurance is a great way to make sure you, your fellow travelers, and your belongings are protected.

Your next vacation may just be the answer to getting you out of a slump and boosting your mood, even after the tan lines fade. In fact, a new study finds the best way to put a smile back on millions of faces is to get out and travel. Researchers say there is a noticeable increase in happiness and well-being among frequent travelers compared to those who don’t take any kind of long-distance vacation.

In a survey of 500 people, study author Chun-Chu “Bamboo” Chen from Washington State University examined the impact of traveling on long-term emotional wellness. The results reveal people who regularly take trips of at least 75 miles from their home are about seven percent happier than respondents who rarely travel.

Yet another study found that travelers enjoy better shuteye while on vacation. Out of 2,000 adults surveyed, 68 percent report getting the “best sleep” while on vacation, with 75 percent saying they wake up feeling more refreshed than usual when they’re away from home. When asked what the best parts of sleeping away from home were, respondents believe nothing beats the smell of clean sheets (43%), the mattress (41%), or being able to sleep in (39%).

Don’t let weather, lost luggage, or illness ruin your chances of reaping the benefits of a summer getaway! Travel insurance protects you and your plans against the unforeseeable, ensuring you get to fully enjoy your moment in the sun without stress. But if you’re overwhelmed by the amount of companies and policies available, don’t worry! StudyFinds did the research for you, searching 10 expert websites for reviews on the best travel insurance companies. This list includes the top recommendations, but if you have a favorite that we didn’t include, be sure to let us know in the comments below!

a man waiting for an airplane
Man in an airport (Photo by JESHOOTS.COM on Unsplash)

The List: Best Travel Insurance, According to Experts

1. Travelex Insurance Services

For family travelers on a budget, Travelex has coverage options that won’t break the bank. And with flexible plans to choose from, you can customize your policy to fit your itinerary. “Travelex offers two main travel insurance plans – Travel Basic and Travel Select,” says U.S. News. “Plus, Travelex also lets you tailor your policy to meet your unique needs with optional add-ons.”

“While Travelex’s policies are only available for trips up to two weeks in length, you can get comprehensive coverage starting at just $60,” says MarketWatch. “In addition, children under the age of 17 are included with one adult on certain travel insurance policies at no additional cost, making Travelex an affordable choice for families.”

However, if you’re embarking on a longer journey, Travelex also has options to keep you covered.”Travelex’s Travel Select policy can cover trips lasting up to 364 days, which is longer than many single-trip policies,” adds The Points Guy.

2. Seven Corners

Large group trips will appreciate the ability to protect everyone under one policy with Seven Corners. With varying levels of coverage for every budget and itinerary, it’s a great option for your next Bachelorette trip or family vacation. “Seven Corners made our list because it covers groups of 10 or more travelers with comprehensive travel insurance policies that can cover medical expenses and evacuations,” Money says. “Seven Corners’ simple and budget-friendly RoundTrip Choice plan covers trip cancellation, interruption or delays for specific reasons, including COVID-19 for groups of 10 or more. Its emergency medical protection goes up to $500,000 and offers up to $1,000,000 for medical evacuation and repatriation of remains.”

“Seven Corners’ policies include 24/7 emergency and travel assistance over the phone, which can be a lifesaver for regular international travelers,” adds MarketWatch. “You can also quickly add coverage for domestic travel with a single click, which can be useful for regular travelers. Seven Corners’ streamlined online buying process makes comparing plans simple, and you can easily add coverage for up to 10 guests if you’re booking group travel.”

As an added bonus, if you’re planning on bringing any equipment (such as tennis rackets, golf clubs, etc.) with you on your journey, you can bulk up your policy with additional protection. “Seven Corners offers the ability to purchase optional sports and golf equipment coverage. If purchased, this extra insurance will reimburse you for the cost of renting sports or golf equipment if yours is lost, stolen, damaged or delayed by a common carrier for six or more hours,” The Points Guy explains.

3. Nationwide

A cruise is a unique way to see the world, and it requires unique coverage. If your summer vacation plans include sailing the seven seas, look no further than Nationwide to find the best travel insurance options. “While there are many options for travel insurance, not every company offers specific coverage for cruises,” says MarketWatch. “With Nationwide, you can choose from three levels of coverage for your next cruise. In addition to standard protections, Nationwide’s cruise policies feature coverage for ship-specific events such as mechanical breakdowns or missed connections.”

“We picked Nationwide because it offers travel insurance plans specifically geared towards cruise travel,” Money adds. “Its emergency medical coverage starts at $75,000 and all three include ‘cancel for work reasons‘ coverage, $500 for return-home-early benefit, $200 for shipboard service disruption, and $25,000 for non-medical evacuations. Among the covered reasons for cancellation and interruption are inclement weather, extension of school schedule and work-related emergency issues.”

You also benefit from the wide reach of an insurance giant like Nationwide with plenty of insurance types and planning flexibility. “A household name in the insurance world, Nationwide Insurance offers a few different types of travel insurance to suit various traveler needs: cruise insurance, annual trip insurance and single-trip insurance,” lists US News. “Nationwide Insurance’s plans are available for purchase up to a day before your trip departure.”

For a company that knows the ins and outs of travel coverage, you can’t go wrong with AIG Travel Guard. With customizable options for plenty of travelers, you’re sure to find a policy that fits your needs. “AIG Travel Guard has over 30 years of experience providing travel insurance to millions of travelers,” says Money. “AIG Travel Guard’s most popular plan, the Preferred, reimburses up to 50% if you were to change your trip dates. Travelers can also add unique options such as the pet bundle, wedding bundle for canceled weddings and an inconvenience bundle in the event of those attractions you absolutely had to see were closed.”

“The amount of coverage and the limits in your plan can vary depending on your trip details,” adds US News. “This variability makes it essential to obtain a quote through the AIG Travel search engine to verify the coverage levels you can qualify for. While AIG Travel offers limited details on its plans prior to requesting a quote, it does make it easy for customers to file a claim or check the status of a travel insurance claim online.”

For those planning a family vacation, AIG has fantastic options for including child travelers. “With coverage limitations up to $1 million, AIG’s policies can be great for families looking to protect multiple people while traveling,” MarketWatch explains. “AIG offers three travel plans that include complimentary family, meaning one child under the age of 17 is included with every adult enrolled in the plan. If you are traveling as a family, this can potentially cut your insurance expenses in half.”

5. World Nomads

If your vacation plans include less lounging on the sand and more scaling mountains, World Nomads is the travel insurance company for you. With coverage for both you and your gear, you can enjoy your adventure in peace. “World Nomads made our list because, unlike most travel insurance companies, its policies include coverage for over 200+ sport and adventure activities,” says Money. “While most travel insurance companies shy away from covering adventure sports and other off-the-beaten-path activities, WorldNomads offers policies specifically tailored to more adventurous travelers. Its Standard and Explorer plans offer coverage for scuba diving, skiing, surfing, biking, and 200+ other activities.”

“World Nomads lets you apply for a quote online with ease, and you can also file a travel insurance claim online. Other types of coverage you receive with both plans (with varying limits) include trip cancellation, trip interruption, loss or damage of baggage and personal effects, rental car coverage, accidental death and dismemberment, and more,” says US News.

“Unlike many policies offered by other providers, you don’t need to estimate prepaid costs when purchasing the insurance to have access to trip interruption and cancellation insurance,” adds The Points Guy.

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Note: This article was not paid for nor sponsored. StudyFinds is not connected to nor partnered with any of the brands mentioned and receives no compensation for its recommendations. This article may contain affiliate links.