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Our Thoughts on Travelex Travel Insurance
After researching and rating 20 travel insurance providers using a comprehensive methodology, the MarketWatch Guides team gave Travelex a rating of 4.7 out of 5 stars. Our research team named it our top pick for budget travelers thanks to its below-average travel insurance costs and flat-rate travel coverage for U.S. travel — starting from just $60. We also appreciate how Travelex includes children under coverage with its Travel Select plan. However, medical limits are lower than some other providers we’ve rated and reviewed, which may not work for travelers looking for high coverage for accidents and illnesses.
Travelex scored highly in most categories featured in our methodology, earning full points for coverage details, cancel for any reason (CFAR) coverage, claim eligibility windows, customer service and credit rating. However, it lost points for not covering jewelry, electronics, pets and non-medical emergency evacuations. If you’re looking for budget-friendly coverage for both U.S. and international trips, our team suggests you request a quote from Travelex.
Pros and Cons
Offers its Travel America plan for a flat rate of $60
Includes children in its Travel Select plan
Provides five different add-on coverages
Offers lower medical limits than some other providers, according to our research
Available add-ons depend on your choice of plan
How Travelex Scored in Our Methodology
Based on our travel insurance methodology, Travelex scored 4.7 out of 5 stars. Its rating is above the average of 4.5 out of 5 stars, which we calculated based on over 20 different providers we’ve rated and reviewed. Travelex performed best in our customer service and reviews, ease of use and coverage extras rating categories.
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Travelex Travel Insurance Review: Ratings Breakdown
Learn more about how Travelex scored in our 2024 travel insurance study in the table below. We’ve included averages from all providers in our study for you to compare.
Compare Travelex to Other Travel Insurance Companies
Learn more about how Travelex compares to its competition in the table below.
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
Travelex Travel Insurance vs. Faye
Travelex and Faye offer the same trip cancellation, trip interruption and emergency evacuation coverage limits for the plan options we compared. However, Faye provides better medical expense coverage and more than double Travelex’s trip delay coverage through its Travel Select plan. Note that Faye’s plan is 20% more expensive than Travelex’s coverage.
If you’re between plans and looking for higher medical expense limits, it may be worth considering Faye over Travelex. But if you’re looking for cheaper comprehensive coverage, Travelex or another provider’s plan could work better for your budget.
| Travelex Travel Select | Faye Travel Protection Plan | |
| Average cost | $248 | $298 |
| Trip cancellation | 100% | 100% |
| Trip interruption | 150% | 150% |
| Medical expense | $50,000 per person | $250,000 per person |
| Emergency evacuation and repatriation of remains | $500,000 | $500,000 |
| Lost baggage | $1,000 | $2,000 |
| Trip delay | $2,000 per person | $4,500 per person |
| Baggage delay | $200 | $300 |
Learn more in our Faye travel insurance review.
Travelex Travel Insurance vs. Allianz
Travelex and Allianz provide the same trip cancellation and interruption benefits and similar medical expense limits through comparable plans — Allianz offers only $25,000 more in medical expense coverage than Travelex. However, Allianz provides double the amount of lost baggage and emergency evacuation coverage. In addition, while Allianz offers more baggage delay coverage, Travelex offers higher travel delay insurance limits.
Overall, based on our analysis and research, Allianz’s OneTrip Premier plan provides higher coverage limits than Travelex’s comparable plan. However, this higher coverage comes with a more than 40% price increase, based on our team’s quotes.
| Travelex Travel Select | Allianz OneTrip Premier | |
| Average cost | $248 | $349 |
| Trip cancellation | 100% | 100% |
| Trip interruption | 150% | 150% |
| Medical expense | $50,000 per person | $75,000 per person |
| Emergency evacuation and repatriation of remains | $500,000 | $1 million |
| Lost baggage | $1,000 | $2,000 |
| Trip delay | $2,000 per person | $1,600 per person |
| Baggage delay | $200 | $600 |
Read more in our Allianz travel insurance review.
What Does Travelex Cover?
Travelex offers three comprehensive travel insurance policies, one post-departure plan and two plans that only cover flight-related expenses. Comprehensive plans come with early purchase benefits such as pre-existing medical condition waivers, cancel-for-work coverage, CFAR coverage and more. The provider’s post-departure plan only offers a car rental collision coverage upgrade.
Travelex Policy Options
Travelex’s three comprehensive plans include Travel Select, Travel Basic and Travel America. Travel Select and Travel Basic may work for international travelers, while Travel America is meant for domestic trips throughout the U.S.
- Travel Select: As Travelex’s highest overall coverage tier, this plan offers pricing that includes children and allows trips that last up to one year. Early purchase benefits include financial default coverage, a pre-existing condition waiver and cancellation for work-related reasons. In addition, this plan offers the most upgrades, with five available for purchase.
- Travel Basic: Travelex markets the Travel Basic plan as essential protection at a budget-friendly price. This plan lacks kids-included pricing and coverage for sporting equipment delays compared to the Travel Select plan. Trips can last for up to 30 days, and early purchase benefits are limited to financial default coverage. In addition, available upgrades include flight accidental death and dismemberment (AD&D) and car rental collision coverage.
- Travel America: This plan offers coverage that travelers can share with up to seven companions. Trips can last up to 14 days, but note that it is considered secondary coverage to any medical benefits offered through your domestic health insurance plan. This means you’ll need to file a claim with your existing insurance provider first before filing a claim with Travelex.
The table below directly compares the Travel Select, Travel Basic and Travel America plans and the coverage each offers.
After gathering quotes from Travelex using seven unique traveler profiles, we found that the provider’s Travel Select plan is the most budget-friendly for comprehensive international coverage. It costs, on average, $176.
| Coverage | Travel Select | Travel Basic | Travel America |
|---|---|---|---|
| Trip cancellation | 100% (up to $50,000) | 100% (up to $10,000) | 100% (up to $750) |
| Trip interruption | 150% (up to $75,000) | 100% (up to $10,000) | 150% (up to $1,125) |
| Trip delay | $2,000 | $500 | $2,000 |
| Missed connection | $750 | $500 | $2,000 |
| Baggage and personal effects | $1,000 | $500 | $2,000 |
| Baggage delay | $200 | $100 | $1,000 |
| Sporting equipment delay | $200 | Not available | $2,000 |
| Car rental collision | Available as an add-on ($35,000 in coverage) | Available as an add-on ($35,000 in coverage) | $35,000 |
| Emergency medical expense | $50,000 | $15,000 | $50,000 |
| Emergency medical evacuation and repatriation | $500,000 | $100,000 | $250,000 |
| Accidental death and dismemberment (AD&D) | $25,000 | $10,000 | $25,000 |
| Cancel for work reasons | Early purchase benefit | Not available | Not available |
| Pre-existing conditions exclusion waiver | Limits cancellation and interruption coverage to 100% | Not available | Available |
| Additional emergency medical coverage | Available as an add-on ($50,000 in coverage) | Not available | Not available |
| Flight AD&D | Available as an add-on ($200,000 in coverage) | Available as an add-on ($200,000 in coverage) | Not available |
In addition to Travelex’s three plans, you can find one post-departure plan and two flight-only plans. The post-departure plan, known as Travel Med, does not have trip cancellation coverage but still primarily includes travel medical coverage plus trip interruptions, delays, and missed connections. It also offers a car rental collision upgrade and 24/7 travel assistance.
The Flight Insure and Flight Insure Plus plans offer different coverages. Flight Insure solely provides flight AD&D coverage and 24/7 travel assistance for trips lasting up to 180 days. Despite its flight-only advertising, Flight Insure Plus provides additional coverages such as missed connections, baggage, travel medical insurance and medical evacuation coverage.
If you’re thinking about purchasing a travel insurance policy from Travelex, it’s best practice to consider your specific needs before settling on a plan. This way, you can choose the coverage that best suits your travel plans and budget.
Travelex Optional Add-On Coverage
Travelex provides five optional add-on coverages, with availability depending on your chosen plan. Note that some plans include these coverages as standard, but general add-on options include the following:
- CFAR coverage: This upgrades your travel insurance policy to include reimbursement for cancellations outside the reasons stated in your policy. Typical cancellation coverage often limits you to cancellations for major illnesses, injuries, deaths or events that make travel unsafe. With CFAR coverage, you can cancel for any reason for reimbursement up to a certain percentage.
- Car rental collision coverage: This coverage can pay for damage to a rental car if you’re involved in an accident during your travels. However, note that this coverage is collision and not liability coverage, which is often required to drive a rental car legally.
- Additional medical coverage: This benefit provides additional emergency medical expense coverage, bumping up your policies’ existing limits.
- Adventure sports exclusion waiver: Most travel insurance policies only cover certain sports and adventure activities. If you plan to participate in extreme sports or other activities excluded from your coverage, this upgrade can ensure your protection in the event of an accident.
- Flight AD&D coverage: This coverage offers protection if you or another traveler under your policy loses a limb or life while flying.
How Much Does Travelex Cost?
After shopping and gathering quotes for various Travelex plans, our research team found that the average cost of a policy is $212. This is 4% less than the average calculated across 20 different providers we’ve rated and reviewed using our travel insurance methodology. Note that your exact travel insurance costs will vary based on factors such as your age, destination, total trip cost and more.
After careful research, we found that Travelex’s Travel America plan is offered for a flat rate of $60 — regardless of your age. We’ve also gathered quotes for Travelex’s Travel Select and Travel Basic plans using seven sample traveler profiles to help you better understand the cost of this provider’s other plans.
| Traveler Type | Trip Details | Total Trip Cost | Travel Select Cost | Travel Basic Cost |
|---|---|---|---|---|
| 30-year-old couple | 7-day trip to Mexico | $5,000 | $244 | $156 |
| Family of four | 7-day trip to Mexico | $8,000 | $244 | $252 |
| 65-year-old couple | 7-day trip to London | $7,000 | $588 | $398 |
| 30-year-old couple | 7-day trip to London | $7,000 | $330 | $214 |
| 19-year-old college student | 7-day trip to France | $2,000 | $100 | $63 |
| 27-year-old solo traveler | 7-day trip to Greece | $1,800 | $100 | $63 |
| 51-year-old solo traveler | 7-day trip to Spain | $2,000 | $130 | $86 |
After gathering quotes from 20 providers using the seven traveler profiles featured in the table above, our team found that the average cost of a travel insurance policy is $221. Comparatively, the average cost of a Travelex plan is around $212.
Does Travelex Offer 24/7 Travel Assistance?
Travelex provides 24/7 travel assistance with all plans. Its multilingual team can help with various situations and challenges you may encounter during your travels.
Travel assistance from Travelex can help you with medical assistance, emergency cash transfers, flight and hotel rebooking, and more. It can also help you find the right services to navigate any legal matters. Travelex provides a travel assistance team to help at no additional cost to you, whether you are looking for the nearest medical provider, replacing missing or lost prescription medications, making new travel arrangements or dealing with a foreign country’s government officials.
How To Buy a Policy From Travelex Travel Insurance
Our research team gathered quotes from Travelex to learn more about the provider’s purchasing process. In our experience, you can purchase Travelex plans entirely online without the assistance of a customer representative. However, if you’d like to speak to customer service, you can call the number on Travelex’s website or utilize the company’s online chat option.
When starting the quote process with Travelex, you must provide information such as your travel destination, departure and return dates, state of residence, age, trip cost and more. The provider will then give you immediate quotes for each plan you’re eligible for. In our experience, Travelex makes policy information easily accessible, with sample contracts for each plan presented upfront when choosing a policy.
Once you’ve reviewed each plan and what it offers, selecting a plan should bring you to a page where you can browse optional upgrades available for your chosen policy. Our team appreciated how Travelex clearly explained each add-on regarding what the coverage provides and the limits available to you.
After selecting your plan and desired add-ons, you will need to provide more personal information to finalize your purchase. Be prepared to enter your address, email, contact number, and supplier travel information for any airlines, cruise lines or tour operators you’ll be using on your trip. From here, you can finalize your purchase and receive your policy documents via email. Overall, our team found Travelex’s purchasing process to be relatively simple and straightforward.
Travelex Travel Insurance Reviews
Customer reviews can help indicate the type of service a travel insurance company provides its policyholders, both positive and negative. Our research team browsed third-party review sites such as Trustpilot and the BBB to better understand how Travelex interacts with its customers. At the time of writing, we found that Travelex holds a 4.1 out of 5-star rating through Trustpilot and a 1.4 out of 5-star rating with the BBB.
What Customers Like
- Helpful customer service representatives: Several customers, such as this one, felt that customer representatives were helpful and made their purchase options clear.
- Fast claims payment: This policyholder praised Travelex’s swift claims payment, stating they’ve been a repeat customer for many years with no issues.
- Ease of filing claims: Some customers, such as this reviewer, noted how easy it was to fill out the claim form and download the necessary documents for filing.
What Customers Don’t Like
- Claims-related communication: This customer states they won’t use Travelex again due to a lack of communication surrounding their travel insurance claim.
- Long claims process: This reviewer expressed frustration over the length of time their claim took to process, noting that it took a few weeks past the provider’s stated maximum number of business days.
- Denied claims: While this is a common complaint in the travel insurance industry based on our research, this policyholder and others expressed frustration over Travelex denying their claim.
Our team reached out to Travelex for comment on the negative reviews and instances of low scoring in this review but did not receive a response.
How To File a Claim with Travelex
Travelex allows you to file a claim using an online form on its website. To submit your claim, you’ll need your plan identification number, which Travelex lists on documents such as your policy brochure, actual policy document or confirmation of coverage. The provider states that if you have any claims-related questions or need assistance with your submission, you can contact the claims team through the contact information listed on Travelex’s website.
To better understand the provider’s claims process and service, we read customer reviews from recent Travelex policyholders that directly mentioned the provider’s claim process. Many reviewers, such as this one, mention a swift payout process regarding their claim. Other policyholders, such as this reviewer, noted that communication throughout the claims process was practically nonexistent, and they wished they received weekly updates on the status of their claim review to feel more informed. Our team reached out to Travelex for comment on its claims process but did not receive a response.
Is Travelex Travel Insurance Worth It?
Deciding whether Travelex travel insurance is worth it is a personal decision. According to our research, the provider offers plans with below-average costs for both domestic and international trips, making it worth considering if you’re looking for protection on a budget. We also found that its quote and purchasing process is relatively straightforward, with policy information easily accessible through sample contracts online. We also appreciate how Travelex provides flat-rate coverage for trips through the U.S. with its Travel America plan and includes kids in pricing with the Travel Select Policy.
However, Travelex offers lower medical coverage limits than other providers we’ve rated and reviewed. The availability of add-ons also depends on your chosen plan, with the most comprehensive and expensive plan providing the most add-on options. As a best practice when shopping for an insurance policy, we encourage you to gather quotes from various providers to compare and read customer reviews online. This process can help ensure that you find a provider that suits both your needs and budget.
Frequently Asked Questions about Travelex
Travelex has more than 25 years of experience in the travel industry and is underwritten by two industry giants: Berkshire Hathaway and Zurich. According to our research, Travelex is a reputable source when shopping for the perfect travel insurance policy.
After gathering quotes from Travelex using seven different sample traveler profiles, we found the average cost of a policy is $212. This is 4% less than the average cost we calculated across 20 different providers of around $221. However, your costs will vary based on various factors.
Travelex offers three comprehensive travel insurance policies, two for domestic and international travel and one specifically for travel within the U.S. It also provides one post-departure plan and two flight-only plans with varying coverage amounts.
According to our research, the average cost of a travel insurance policy is $221. Our team calculated this average using quotes we gathered from 20 travel insurance providers. We used seven unique sample traveler profiles to understand costs for travelers of various ages.