Best Cheap Travel Insurance

Contributor, Benzinga

Think you don’t need travel insurance? What if the unthinkable happens and suddenly, you’re out thousands of dollars? Cheap travel insurance can protect you and members of your family.

Just like it’s now easier than ever to find affordable health insurance, there are also plenty of affordable travel insurance options that can enhance your trip without breaking the bank. Before you head out on your next adventure, consider contacting one of our top cheap travel insurance providers.

Best Cheap USA Travel Insurance:

Arch RoamRight Arch RoamRight
Get Started securely through Arch RoamRight’s website
Disclosure: This provides a broad overview of your policy provisions and does not revise or amend the policy. Insurance coverages are underwritten by Arch Insurance Company, NAIC #11150, under policy series LTP 2013 and amendments thereto. Plans are offered and disseminated by registered travel retailers on behalf of Arch Insurance Solutions Inc., a licensed travel insurance producer* (CA License #0I18111, TX License #1787195). Both the travel insurance producer and the underwriter referenced above may be reached at 1-844-872-4163. Your policy is the contract that specifically and fully describes your coverage. Certain terms, conditions, restrictions and exclusions apply and coverages may vary in certain states. Please refer to your policy for detailed terms and conditions. Consumer Disclosures can be found at: https://www.roamright.com/disclosures/. Privacy policy can be found at: https://www.roamright.com/roamright-website-privacy-policy/ *Plans are solicited by licensed producers in NY and HI.   
Best For
Frequent travelers
N/A
1 Minute Review

Arch RoamRight travel insurance provides extensive options for trip insurance. Travelers can quickly purchase a policy online, and policy details can be monitored on the company’s app. Policies are available with coverage for trip cancellations, baggage delays, emergency evacuations and more.

Arch RoamRight offers its users a comprehensive mobile app and online portal they can use to plan their trip. The app is equipped with everything from safety warnings to travel documents. Travel insurance plan options may be overwhelming for those who have never bought travel insurance before, and that is why Arch RoamRight offers a policy choice for every traveler. 

#1 Highlight: Wide range of coverages available

AM Best Rating: A+

Moody’s Rating: A2

1Financial ratings are as of 9/21/2021. Subject to change. For more information, visit https://insurance.archgroup.com/.

Best For
  • Frequent travelers
  • Travelers looking to cover international medical expenses
  • New travelers looking to protect their trip costs
Pros
  • Comprehensive mobile app and online platform
  • Multi-policy coverage options available for frequent travelers
  • 1 child included on Pro Plus plan for every adult plan purchased
Cons
  • Some (but very few) geo restrictions on product
  • Comparing plans can be overwhelming
Travelex Travelex
Get started securely through Travelex’s website
Best For
Affordable travel insurance
N/A
1 Minute Review

Travelex is a leading travel insurance provider with over 55 years of experience under its belt. Travel insurance plans are underwritten by Berkshire Hathaway and Zurich Insurance Group, so you can rest assured you’re getting the best deal.

Choose from 3 different plan tiers, Travel Select, Travel Basic and Travel America. You can also choose from a host of optional upgrades, including car rental insurance, additional medical coverage and accidental death and dismemberment coverage (limited to common air carriers only.)

Travelex offers 24/7 global assistance from World Travel Protection.

Best For
  • Affordable travel insurance
Pros
  • Instant quote online
  • COVID-19 coverage (restrictions apply)
  • 24/7 assistance
Cons
  • Less plan options than some other providers
World Nomads World Nomads
Compare Quotes securely through World Nomads’s website
Disclosure: World Nomads offers simple, flexible coverage options to travels in more than 130 countries. Choose from either the Standard Plan or the Explorer Plan. Protections include emergency accident and sickness medical expense (including dental) coverage, emergency evacuation coverage, repatriation of remains coverage, accidental death and dismemberment, lost or stolen goods coverage and trip cancellation or interruption reimbursement.   World Nomads also offers 24-hour travel assistance services.
Allianz Allianz
Compare Plans securely through Allianz’s website
Best For
Epidemic endorsement coverage
N/A
1 Minute Review

Provided by Allianz Global Assistance, Allianz Travel Insurance is a solid choice for frequent travelers or travelers who travel for long periods of time. Allianz offers free coverage for kids up to 17, making it perfect for traveling families or families who are living abroad for work.

 

Allianz offers a wide range of plans (5 in total), but their coverage limits can be relatively low compared to other providers.

Best For
  • Epidemic endorsement coverage
Pros
  • Coverage provided by Allianz Global Assistance
  • Mobile app
  • Covers trips up to 365 days
  • Wide range of plans
Cons
  • Low coverage limits

What Does Travel Insurance Cover?

Travel insurance adds financial protection to your trip by helping you get some or all of your money back if you have to cancel your trip. Depending on the specifics of your policy, you can be reimbursed for missed flights, hotel stays, down payments on excursions and more. You may be protected from a few scenarios:

  • Missing a connecting flight
  • Having to cancel your entire vacation in light of an emergency
  • Getting sick during your trip and returning home early
  • Weather causing the delay or cancellation of your flight or cruise
  • Lost baggage
  • Losing a passport, visa or other important travel documents

Your insurance company could provide you with compensation to cover return flights or make up for lost bookings.

What to Look For in a Company

It’s important to do your research and make sure you’re choosing the best policy for you. Here are some of the things that you should look for when you compare travel insurance plans.

Low deductible. When you’re looking for an affordable travel insurance plan, one of the first things you should look at is your deductible. The deductible is the amount that you have to pay when you file a claim before your insurance kicks in and covers the rest of the cost. Make sure you can afford both the deductible and the premium before you choose a policy.

High claim limits. You’ll see that your policy includes a limit on how much you can get back maximum for a single claim when you buy travel insurance. Look for policies with at least $50,000 in coverage, especially for medical emergencies.

24/7 claims reporting. You might not be able to wait 12 hours for your insurance provider’s office to open when you’re traveling. Look for insurance providers who offer 24/7 claims reporting and assistance for emergencies.

Multilingual assistance. Look for claims reporting line that offers assistance in both English and the native language of the country you’re visiting. This can help make it easier to communicate with the local emergency service and medical professionals.

The Best Affordable Travel Insurance Companies

Benzinga chose the best travel insurance companies based on the criteria above.

Best For
Frequent travelers
Pros
  • Comprehensive mobile app and online platform
  • Multi-policy coverage options available for frequent travelers
  • 1 child included on Pro Plus plan for every adult plan purchased
Cons
  • Some (but very few) geo restrictions on product
  • Comparing plans can be overwhelming
Disclosure This provides a broad overview of your policy provisions and does not revise or amend the policy. Insurance coverages are underwritten by Arch Insurance Company, NAIC #11150, under policy series LTP 2013 and amendments thereto. Plans are offered and disseminated by registered travel retailers on behalf of Arch Insurance Solutions Inc., a licensed travel insurance producer* (CA License #0I18111, TX License #1787195). Both the travel insurance producer and the underwriter referenced above may be reached at 1-844-872-4163. Your policy is the contract that specifically and fully describes your coverage. Certain terms, conditions, restrictions and exclusions apply and coverages may vary in certain states. Please refer to your policy for detailed terms and conditions. Consumer Disclosures can be found at: https://www.roamright.com/disclosures/. Privacy policy can be found at: https://www.roamright.com/roamright-website-privacy-policy/ *Plans are solicited by licensed producers in NY and HI.   

1. Arch RoamRight: Best Overall

Arch RoamRight Travel Insurance provides extensive options for trip insurance, including medical travel coverage. RoamRight offers a comprehensive mobile app and online platform that makes purchasing and managing a policy super easy. Travelers can quickly purchase a policy online, and policy details can be monitored on the company’s app. Policies are available with coverage for trip cancellations, baggage delays, emergency evacuations and more.

RoamRight offers its users a comprehensive mobile app and online portal they can use to plan their trip. The app is equipped with everything from safety warnings to travel documents. Though the company’s plan options may be overwhelming for those who have never bought travel insurance before, RoamRight offers a policy choice for every traveler. 

Parents can purchase the Pro Plus plan, which includes 1 child per each adult.

Best For
Affordable travel insurance
Pros
  • Instant quote online
  • COVID-19 coverage (restrictions apply)
  • 24/7 assistance
Cons
  • Less plan options than some other providers

2. Travelex Insurance Services: Best for Cheap Rates

One of your cheapest insurance options for traveling with children is Travelex. The company’s Travel Select package includes coverage for children 17 and under for no additional cost. This protection isn’t included with the Travel Basic package, so it’s cheaper for families with even a single child to opt for more coverage.

Select plans are affordable from the outset but you can also customize your plan with add-ons for as little as $10 each. You can get upgrades for almost anything, including coverage for rental car collisions, an additional $50,000 worth of medical coverage and even coverage for extreme sports.
Select plans from Travelex start at just $28 per family and include up to $50,000 worth of emergency medical coverage. You can get 100% of your trip reimbursed if you need to cancel thanks to an emergency and Select plans even include cancellation reimbursements if you need to skip your trip for business reasons.

Emergency medical evacuation coverage extends to $500,000 and 24/7 travel insurance is also included. Though Travelex’s Basic packages leave something to be desired, its Select plans are affordable and worth the upgrade — especially if you’re traveling with children.

Best For
Travel medical insurance
Pros
  • Coverage available in over 130 countries
  • Some pandemic coverage available
  • Simple and flexible coverage
Cons
  • Preexisting conditions not covered
Disclosure World Nomads offers simple, flexible coverage options to travels in more than 130 countries. Choose from either the Standard Plan or the Explorer Plan. Protections include emergency accident and sickness medical expense (including dental) coverage, emergency evacuation coverage, repatriation of remains coverage, accidental death and dismemberment, lost or stolen goods coverage and trip cancellation or interruption reimbursement.   World Nomads also offers 24-hour travel assistance services.

3. World Nomads: Best Travel Insurance for Backpackers

Plans from World Nomads are comprehensive and affordable. A 25-year-old who travels to Indonesia for a week will pay between $70 to $110 to ensure his trip. World Nomads’ plans come in two packages — Standard and Explorer — and both include coverage for extreme sports. Standard packages include coverage for injuries stemming from rock climbing to indoor river boarding and from gymnastics to deep-sea fishing. Explorer plans cover almost any physical activity you can think of, from running with the bulls in Spain to hang gliding over the city of Rio de Janeiro.

Both plans include up to $100,000 worth of coverage for emergency medical coverage, making World Nomads a great choice for active explorers.
One of the most unique features of World Nomads’ plans is its compassionate and proactive multilingual travel assistance. When you call its 24/7 hotline, a team member will do more than help you file a claim. He or she will assist you in locating local physicians and dentists, arrange and pay for transportation to a hospital, including an escort if you’re seriously injured and even arrange for transportation home if you need it.

Policies from World Nomads are recommended for particularly active adventurers or those who are traveling to an area in which English isn’t commonly spoken.

Best For
Epidemic endorsement coverage
Pros
  • Coverage provided by Allianz Global Assistance
  • Mobile app
  • Covers trips up to 365 days
  • Wide range of plans
Cons
  • Low coverage limits

4. Allianz Global Assistance: Best for Long Trips

Choosing a plan from Allianz Global Assistance can save you both time and money. Unlike most other competitors whose policies max out at 90 days abroad, Allianz has coverage options for trips up to 180 days long. If you’re planning a multi-leg backpacking trip or you’re studying abroad, Allianz might be your first choice for insurance coverage.

Like Travelex, Allianz Global Assistance OneTrip Premier plan includes free coverage for children age 17 and under, though it’s important to note that this coverage isn’t included in cheaper Allianz low-tier plans. Even Premier plans are exceptionally affordable — single traveler Basic plans begin at just $50 and a family of 4 can get a week-long Premier plan for just under $120. Allianz Global Assistance is also one of the only travel insurance providers that offer annual multi-trip plans under a single renewable policy, which makes it a convenient choice for travelers who visit international destinations more than once a year.

Allianz’s website and quote process are intuitive and quick, and you can protect your trip in as little as 10 minutes. Allianz’s Premier plan only covers up to $50,000 in emergency medical coverage per insured, but travelers exploring with children or those who need protection for longer trips might opt for Allianz’s lower prices and convenience.

Compare Travel Insurance Plans

Get Started securely through Arch RoamRight’s website
Disclosure: This provides a broad overview of your policy provisions and does not revise or amend the policy. Insurance coverages are underwritten by Arch Insurance Company, NAIC #11150, under policy series LTP 2013 and amendments thereto. Plans are offered and disseminated by registered travel retailers on behalf of Arch Insurance Solutions Inc., a licensed travel insurance producer* (CA License #0I18111, TX License #1787195). Both the travel insurance producer and the underwriter referenced above may be reached at 1-844-872-4163. Your policy is the contract that specifically and fully describes your coverage. Certain terms, conditions, restrictions and exclusions apply and coverages may vary in certain states. Please refer to your policy for detailed terms and conditions. Consumer Disclosures can be found at: https://www.roamright.com/disclosures/. Privacy policy can be found at: https://www.roamright.com/roamright-website-privacy-policy/ *Plans are solicited by licensed producers in NY and HI.   
Best For
Frequent travelers
N/A
1 Minute Review

Arch RoamRight travel insurance provides extensive options for trip insurance. Travelers can quickly purchase a policy online, and policy details can be monitored on the company’s app. Policies are available with coverage for trip cancellations, baggage delays, emergency evacuations and more.

Arch RoamRight offers its users a comprehensive mobile app and online portal they can use to plan their trip. The app is equipped with everything from safety warnings to travel documents. Travel insurance plan options may be overwhelming for those who have never bought travel insurance before, and that is why Arch RoamRight offers a policy choice for every traveler. 

#1 Highlight: Wide range of coverages available

AM Best Rating: A+

Moody’s Rating: A2

1Financial ratings are as of 9/21/2021. Subject to change. For more information, visit https://insurance.archgroup.com/.

Best For
  • Frequent travelers
  • Travelers looking to cover international medical expenses
  • New travelers looking to protect their trip costs
Pros
  • Comprehensive mobile app and online platform
  • Multi-policy coverage options available for frequent travelers
  • 1 child included on Pro Plus plan for every adult plan purchased
Cons
  • Some (but very few) geo restrictions on product
  • Comparing plans can be overwhelming
Get started securely through Travelex’s website
Best For
Affordable travel insurance
N/A
1 Minute Review

Travelex is a leading travel insurance provider with over 55 years of experience under its belt. Travel insurance plans are underwritten by Berkshire Hathaway and Zurich Insurance Group, so you can rest assured you’re getting the best deal.

Choose from 3 different plan tiers, Travel Select, Travel Basic and Travel America. You can also choose from a host of optional upgrades, including car rental insurance, additional medical coverage and accidental death and dismemberment coverage (limited to common air carriers only.)

Travelex offers 24/7 global assistance from World Travel Protection.

Best For
  • Affordable travel insurance
Pros
  • Instant quote online
  • COVID-19 coverage (restrictions apply)
  • 24/7 assistance
Cons
  • Less plan options than some other providers
Start Comparing securely through AARDY’s website
Best For
Cheap travel insurance plans
N/A
1 Minute Review

AARDY is a travel insurance marketplace offering a best price guarantee. Find the lowest priced plans from trusted travel insurance providers like John Hancock, AIG Travel Guard and more.

Get quick quotes by filling out a few traveler and destination details. You can even see plans for multiple destination trips.

AARDY is highly rated by consumers on TrustPilot, boasting a 4.9 TrustScore and has an A+ rating from the Better Business Bureau.

Best For
  • Best price guarantee
Pros
  • Best state-approved price guarantee
  • Compare plans from multiple trusted providers
  • Cruise, airline and tour operators coverage available
Cons
  • No mobile app

Protect Yourself When You Travel

No matter where you roam or which travel insurance plan you choose, read every policy thoroughly before you sign to be sure you’re getting the best cheap travel insurance. Know what is and isn’t covered before you leave. For example, make sure you choose a policy that covers extreme sports If you know you want to go skydiving or hang gliding. Double-check to make sure that your plan includes coverage for business cancellations if you work in an industry that may need you at a moment’s notice.

Safety doesn’t end with getting a travel insurance policy. Consider enrolling your trip on the State Department’s Travel Registry website. Use the Department of State’s catalog of travel advisories to research your destination, noting any areas where travel is forbidden or regulated. Write down the address of the United States’ embassy in both English and the local language and keep copies on your person. With insurance and a little planning, you’ll be prepared for a safe and secure trip abroad.

Frequently Asked Questions

Q

Does travel insurance cover my medical expenses?

1
Does travel insurance cover my medical expenses?
asked
A
1

This depends on your plan, but some travel insurance offers coverage for medical expenses. Be sure to review the terms of your policy to know for sure.

answered
Q

Is travel insurance worth it?

1
Is travel insurance worth it?
asked
A
1

Oftentimes, yes. Insuring your trip and related expenses can be extremely useful when plans get cancelled or changed last minute.

answered