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When traveling abroad, there are many things to keep in mind. How are you traveling? Where will you stay? What kind of transportation will you use? Should you get cash or just use credit cards? One area that is often overlooked is choosing a good travel insurance company. Travel insurance, especially since the outbreak of COVID-19, is essential to protect yourself and your family from anything that might happen overseas.
Even if the country you’re visiting has a robust healthcare system, you may not have the opportunity to access it without an official form of travel insurance. This insurance benefits you by covering everyday medical and urgent needs that you could face, and with a good company, the costs are pretty reasonable.
Nevertheless, some companies provide high-quality service, while others are in it to make a quick buck. Before you commit to travel insurance, you need to know which companies are which so that you can make the right decision for you and your family.
The Three Best Travel Insurance Companies
Good travel insurance companies offer comprehensive coverage that protects against realistic threats. Further, these companies pay out on time and keep their premiums at a reasonable level. They may not be the lowest priced on the market, but they make up for that by giving you premium value.
1. Allianz Travel Insurance
Allianz is an exceptional company when it comes to travel insurance. It has a suite of options that travelers can choose from, including emergency medical coverage, baggage coverage, and trip interruption coverage. Even better, you can rely on Allianz for multiple trips if you know that you will be traveling regularly for work or anticipate visiting several locations around the globe. Its online service portal lets you handle your claims and policies at your leisure, and the customer support team is available 24/7, meaning you’ll always be able to get assistance no matter when or where you need it.
2. World Nomads Travel Insurance
World Nomads has a comprehensive website that invites you to learn about the sights and activities in any country worldwide. In addition to comprehensive insurance coverage, this company also insures you for adventure sports and other exciting activities that might otherwise be omitted from standard travel insurance. Notably, World Nomads keeps its insurance understandable and accessible by simplifying coverage options to three tiers, so you can choose the one that makes the most sense for your needs.
3. AIG Travel
AIG provides customized insurance that suits the needs of your specific trip, and many of its customers are happy with the turnaround time on claims and how thorough its coverage is. However, potential customers are often wary of the fact that it’s challenging to get much precise information about coverage and costs before obtaining an official quote. This seeming secrecy makes sense in the context of AIG customizing the policy, but it still can be a bit of a yellow flag to some travelers.
The Three Worst Travel Insurance Companies
The qualities that make these companies stand out include coverage issues, fulfillment issues, and policy limitations. Generally, it’s hard to find clear information about lousy insurance companies, and even for these three, you can still find people who had good experiences with them. However, the overall trends for these companies indicate that they are insurance providers that you should think twice about using.
1. Trip Mate
Based on customer reviews, you’re flipping a coin whenever you insure your travel plans with Trip Mate. Some customers praise their comprehensive service and quick payouts, while others reveal horror stories about un-covered issues and payouts being a nightmare to secure. On paper, its policies are affordable and cover most issues you’ll encounter traveling; however, you may not want to take the risk.
2. WorldTrips
This company is exacting regarding the forms customers must complete to file claims. The positive reviews insist that there was a lot of paperwork, while the negative reviews claim that the company is a scam due to its resistance to payouts. Ultimately, it seems like you may be able to get your coverage from WorldTrips if you’re willing to jump through several hoops to secure your claim.
3. Travel Guard
Unlike the previous two companies, you cannot expect cancellation coverage from Travel Guard regardless of the number of hoops you’re willing to jump through. In addition to a biblical amount of paperwork to file your claims, you’ll also discover that cancellation refunds require extreme medical emergencies on the order of terminal illness or near-fatal accident. You’re better off saving your money for this one.
Travel insurance should make your life easier. Take the time to research and choose a company that will protect you when it’s time for you to take your next trip.