Travelex Travel Insurance Review 2024

Travelex Insurance Services is a travel insurance company that offers policies with various coverage limits to fit your needs and budget. It sells policies designed for those traveling abroad or taking last-minute trips.

All of Travelex’s policies offer a wide selection of add-ons that allow you to customize a policy. Coverage limits vary among plans, as do some other benefits.

Travelex’s Ultimate plan: The Ultimate policy (described above) earned a top rating in our evaluation of the best travel insurance companies. It has the most robust coverage of the Travelex plans and is the only one that offers CFAR and that covers children traveling with adults at no extra cost.

Travelex’s Advantage plan: The Advantage policy is also worth considering if lower medical expense and medical evacuation limits suffice.

Travelex’s Essential plan: The Essential plan is for those who want coverage but find that low limits across the board are enough for their travel needs.

Here are key coverage features for Travelex’s main single-trip policies.

Benefit	Ultimate	Advantage	Essential
Emergency evacuation	$1 million	$250,000	$200,000
Medical expense	$250,000	$50,000	$25,000
Trip cancellation	100% of trip cost	100% of trip cost	100% of trip cost
Trip interruption	150% of trip cost ($75,000 maximum)	125% of trip cost ($12,500 maximum)	100% of trip cost ($10,000 maximum)
Travel delay	$2,000 ($250 per day maximum) After five hours	$1,000 ($250 per day maximum) After five hours	$600 ($200 per day maximum) After six hours
Baggage and personal effects	$2,000 ($500 per item limit)	$1,000 ($500 per item limit)	$750 ($500 per item limit)
Baggage delay	$500 After 12 hours	$200 After 12 hours	$200 After 12 hours
Missed connection (air and cruise only)	$750	$250	$150
Trip inconvenience	$600	Not included	Not included
Accidental death and dismemberment	$25,000	$20,000	$10,000
Exposure and disappearance	$25,000	$20,000	$10,000
“Cancel for any reason” optional upgrade	75% of insured trip cost	Not available	Not available
Kids-included pricing	Yes	No	No

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The Travel Med Plan is for last-minute getaways and trips with few prepaid expenses. It provides these post-departure benefits at the following limits and is primary coverage:

• Trip interruption, $1,000
• Trip delay, $500
• Missed connection, $300
• Medical expense, $50,000
• Emergency medical evacuation, $250,000
• Baggage and belongings, $1,000
• Baggage delay, $500
• AD&D, $10,000

Optional Travelex upgrades depend on the policy you purchase but might include the following.

Benefit	Ultimate	Advantage	Essential	Travel Med Go
Rental car damage	$50,000 with a $100 deductible	$50,000 with a $100 deductible	$50,000 with a $100 deductible	$50,000 with a $100 deductible
Additional medical	Additional $250,000	N/A	N/A	Additional $250,000
Adventure activities	Waives exclusions on certain activities; Search and rescue: $10,000 Security evacuation: $100,000	Waives exclusions on certain activities; Search and rescue: $10,000 Security evacuation: $100,000	Waives exclusions on certain activities; Search and rescue: $10,000 Security evacuation: $100,000	Waives exclusions on certain activities; Search and rescue: $10,000 Security evacuation: $100,000
Additional baggage	Additional $3,000 Per item limit: $1,500 Electronic and professional equipment limit: $2,000 Sporting equipment delay limit: $1,500 Sporting equipment rental limit: $2,000	Additional $4,000 Per item limit: $1,500 Electronic and professional equipment limit: $2,000 Sporting equipment delay limit: $1,500 Sporting equipment rental limit: $2,000	Additional $4,250 Per item limit: $1,500 Electronic and professional equipment limit: $2,000 Sporting equipment delay limit: $1,500 Sporting equipment rental limit: $2,000	Additional $4,000 Per item limit: $1,500; Per item limit: $1,500Sporting equipment delay limit: $1,500 Sporting equipment rental limit: $2,000
Accidental death for air travel	Limit options: $200,000, $500,000, or $1,000,000	Limit options: $200,000, $500,000, or $1,000,000	Limit options: $200,000, $500,000, or $1,000,000	Limit options: $200,000, $500,000, or $1,000,000
Pet care	Pet care: $250; Pet veterinarian expense: $2,500	Pet care: $250; Pet veterinarian expense: $2,500	Pet care: $250; Pet veterinarian expense: $2,500	Pet care: $250; Pet veterinarian expense: $2,500
Cancel for business	100% of insured trip cost	N/A	N/A	N/A
Rental property security deposit	N/A	N/A	N/A	$2,000

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What you pay for travel insurance generally varies by your age and the trip cost you’re insuring. Here are examples of prices for Travelex’s Ultimate and Advantage plans.

Travelers and trip	Ultimate	Advantage
Two travelers age 30, $3,000 trip cost, traveling to Mexico for 8 days	$124	$88
Two travelers age 40, $6,000 trip cost, traveling to Italy for 17 days	$360	$264
Family with two parents age 40 and two children, $15,000 trip cost, traveling to Spain for 17 days	$462	$542
Two travelers age 65, $6,000 trip cost, traveling to the Italy for 17 days	$492	$360
Two travelers age 70, $3,000 trip cost, traveling to the Mexico for 8 days	$376	$254
Two travelers age 75, $15,000 trip cost, traveling to Aruba for 20 days	$2,482	$1,846
Two travelers age 80, $20,000 trip cost, traveling to Spain for 25 days	$3,838	$2,858

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Travel insurance provides valuable pre- and post-departure benefits that safeguard your trip investment by compensating you for unexpected problems that can disrupt your plans.

• Trip cancellation insurance: Trip cancellation insurance reimburses you for prepaid, non-refundable costs if you cancel a trip for a reason listed in the policy.
• Travel medical insurance: If you become ill or injured during your trip, travel medical insurance can pay for emergency medical expenses, up to the limits in your plan. These expenses can include doctor and hospital bills, medicine and lab work.
• Emergency medical evacuation: If you require emergency transportation for treatment after an injury or illness during your trip, emergency medical evacuation insurance helps pay for medevac costs. You’ll be brought to the nearest medical center that can treat your condition. Your travel insurance company’s emergency assistance team can also arrange for the transportation.
• Travel delay insurance: If your trip is delayed due to a reason covered in your policy, travel delay insurance reimburses you for extra costs, such as bills for a hotel room and meals for an overnight layover, up to the amount specified in your policy. You can also recoup prepaid, non-refundable costs for portions of the trip you miss due to the delay.
• Travel interruption insurance: If an emergency back home causes you to cut your trip short, trip interruption insurance pays for a last-minute flight home. It can also compensate you for the money you lose on forfeited, non-refundable activities and hotel stays.
• Baggage and personal effects: Baggage insurance reimburses the depreciated value of your suitcases and what you packed if lost, stolen or damaged. If your bags show up late, baggage delay coverage can reimburse you for the cost of necessities you bought to tide you over. It also extends to your personal belongings, if lost, damaged or stolen. Some exclusions apply to baggage and personal effects insurance, so check your policy to see what’s covered.
• “Cancel for any reason” upgrade: This optional add-on is offered if you buy the Ultimate policy. It reimburses 75% of your insured trip costs, as long as you cancel no less than 48 hours prior to your departure.

All travel insurance plans contain exclusions, so it’s good to review the fine print and understand what your travel insurance policy doesn’t cover. Here are some examples of exclusions to emergency medical coverage for Travelex’s Travel Select plan:

• Intentionally self-inflicted injury
• Normal pregnancy or childbirth
• Mental, nervous or psychological disorders
• Experimental medical treatments
• Injuries due to intoxication or drug abuse
• Routine physical examinations

For assistance, contact Travelex by:

• Phone. Call (800) 228-9792 from 8 a.m. to 7 p.m. CST, Monday to Friday.
• Email. Email customer service at customersolutions@travelex.com.

You can file a claim on the company website, or call the Travelex customer service number for claims: 855-205-6054.

We researched and analyzed 69 policies to find the best travel insurance. When companies had more than one highly rated travel insurance policy we used the highest-scoring plan. Ratings are based on the following metrics.

Cost (35% of score): We analyzed the average cost for each travel insurance policy for trips to popular destinations:

• Couple, age 30 for a Mexico trip costing $3,000
• Couple, age 40, for an Italy trip costing $6,000
• Family of four for a Spain trip costing $15,000
• Couple, age 65, for an Italy trip costing $6,000
• Couple, age 70, for a Mexico trip costing $3,000

Medical expenses (15% of score): Travel insurance policies with travel medical expense benefits of $250,000 and up per person were given the highest points.

Medical evacuation (15% of score): Travel insurance policies with medical evacuation expense benefits of $500,000 and up per person were given the highest points.

“Cancel for any reason” upgrade (10%): Travel insurance policies received points if “cancel for any reason” upgrades are offered. More points were awarded for “cancel for any reason” upgrades with reimbursement levels of 75%.

Trip interruption travel insurance (5%): Points were given if trip interruption reimbursement is 150% or higher.

Travel delay required waiting time (5%): Policies with travel delay benefits kicking in after six hours or less were given points.

Baggage delay required waiting time (5%): Policies with baggage delay benefits kicking in at 12 hours or less were given points.

Pre-existing medical condition exclusion waiver (5%): Points were given to policies that cover pre-existing medical conditions (if purchased within a required timeframe after the first trip deposit).

“Interruption for any reason” upgrade (5%): Policies were awarded points if they offered an “interruption for any reason” upgrade.

Editor’s note: While our parent company has an interest in PrimeCover, this review was subjected to our team’s standard rigorous editorial process, which remains independent of any influence from insurance companies, business relationships, affiliates or any other external parties.