A comprehensive plan will always cover you to a greater extent than basic travel insurance. If you’re a budget traveller planning international travel, a basic medical-only policy is a popular choice as it generally covers all your medical expenses. But before just choosing the cheapest option, consider your individual circ*mstances.
There are three main reasons you might want to consider a comprehensive policy:
- Your destination and itinerary
If your destination is known for frequent travel delays, bad weather, natural disasters or higher crime rates, you may want the protection of a comprehensive policy. Preparing for the unexpected keeps you from paying hundreds or thousands out of pocket on re-booking flights and accommodation, replacing stolen belongings or wasting unused tickets.
- Cancellation cover
You never know when something might go wrong on a trip, so an important reason you might consider a comprehensive plan is if you want trip delay and cancellation cover. A basic policy may sometimes cover some expenses, but comprehensive cover will grant you greater claim limits. In addition, you can also be covered for property damage or loss, higher levels of medical assistance, personal liability and more.
- Higher claim limits
A comprehensive travel insurance policy will have higher claim limits with fewer conditions. This can be particularly helpful if you’re travelling with valuable items and need a higher limit for lost or stolen belongings. Or, if other unexpected additional expenses arise that you need compensation for.
Every travel insurance policy is different, so be sure to read the PDS to understand the extent of your cover.
FAQs
Our Rankings of the Best Travel Insurance Companies of 2024
- Faye: Our top pick.
- Travelex Insurance: Our pick for families.
- Nationwide Travel Insurance: Our pick for cruise travel.
- Tin Leg Travel Insurance: Our pick for customizable coverage.
- Berkshire Hathaway Travel Protection: Our pick for luxury travelers.
In terms of market share, few of the major players currently lead the market. The companies which are holding the major market share in the Travel Insurance industry are Allianz Partners Sas and American International Group, Inc.
Where is the best place to get travel insurance? ›
An award-winning provider
- Best Travel Insurance Provider. Post Office won a 'Best Travel Insurance Provider' award at the Your Money Awards in 2021, 2022 and 2023.
- Best Travel Insurance Provider. Post Office won a “Best Travel Insurance Provider” award at the British Travel Awards in 2023.
- Defaqto 5-star rated cover.
Comprehensive travel insurance is the highest level of cover you can buy. It typically includes cancellation cover, 24/7 medical cover, lost or damaged luggage costs, personal liability, family emergencies, additional cover for travel delays, and alternative transport expenses.
What is a good rate for travel insurance? ›
The average cost of travel insurance is about 3% to 5% of a trip's total value, according to quotes gathered by our research team across different travel insurance providers for various traveler profiles.
Is Allianz travel insurance any good? ›
We at the MarketWatch Guides team awarded Allianz Travel Insurance 4.1 out of 5 stars based on our provider review methodology. Named our pick for concierge services, Allianz offers 24/7 travel assistance through a multilingual team, which can help policyholders with travel and coverage issues while abroad.
Is AIG travel insurance good? ›
After researching and rating 20 different travel insurance companies, the MarketWatch Guides team awarded AIG Travel Guard 4.6 out of 5 stars based on our comprehensive provider review methodology. AIG offers eight policies that can provide medical and trip coverage for a wide variety of traveler needs.
What is the most common type of travel insurance? ›
Over 94% of travel insurance sales are Vacation Plans
Vacation plans include coverage for: Canceled trips. Interrupted trips. Medical emergencies.
How does travelers insurance compare to other companies? ›
Travelers car insurance
Available coverage types are similar to those offered by most other major insurance companies, and they offer a wide variety of discount options. However, Travelers receives scores less well than competitors regarding overall customer satisfaction.
How many days before should you buy travel insurance? ›
If you're wondering when you should buy travel insurance, the simple answer is as soon as possible. Ideally, you'll buy coverage no later than 15 days prior to your trip.
For example, SquareMouth recommends international travelers get around $50,000 in Emergency Medical coverage and $100,000 for cruises or travel to remote areas. Carefully review the full details of your travel insurance policy. To find a basic plan that's affordable, search SquareMouth now.
Is it better to buy travel insurance early or late? ›
It's smart to buy travel insurance immediately after booking for two reasons. One: You won't forget! Far too many travelers postpone buying travel insurance and then realize, too late, that they forgot to buy it at all. And two: The earlier you buy insurance, the bigger your coverage window.
What are the two 2 basic types of travel insurance? ›
What type of travel insurance do I need? There are two main types of travel insurance: trip protection plans and travel medical plans.
What travel insurance will not cover? ›
Travelling against medical advice or to get medical treatment. If your doctor says it's not safe for you to travel, then you won't be covered. Similarly, if you go abroad to get planned treatment, sometimes called 'medical tourism', a standard policy will not cover this – you'll need specialist insurance instead.
What conditions are not covered by travel insurance? ›
Conditions which may not be covered
Conditions like terminal illness, the need for oxygen, pending surgery, chronic lung disease, cardiovascular disease, specific types of cancer, congestive heart failure, and recurring pain are generally excluded from coverage.
What is the best travel medical insurance for US citizens? ›
Based on our comprehensive review, the companies offering the best travel medical insurance are Faye, IMG, Travelex, AIG Travel Guard and Allianz. Travel medical insurance is a specialized type of coverage that helps pay for medical bills and emergency evacuations if you're hurt or become sick while traveling.
What insurance to get when travelling? ›
Comprehensive travel insurance
This is the typical policy that people imagine when they think of trip insurance. The comprehensive policy usually covers delays, cancellation due to sickness or death, lost luggage and some emergency medical costs.
