Travelex Travel Insurance

Overview of Travelex Travel Insurance

Travelex is one of the highest-rated insurance providers on Squaremouth and has been a trusted name in travel protection for over 25 years. They combine superior customer service with well-rounded coverage, regardless of your destination.

Travelex currently offers two plans on the Squaremouth marketplace, both of which include in-demand benefits like Trip Cancellation, Emergency Medical, Medical Evacuation, Travel Delay, and Baggage Loss. Their most popular policy, dubbed ‘Ultimate’, provides strong medical coverage and is one of the five plans available on our marketplace that offers kid-friendly pricing, providing complimentary protection for one child per insured adult.

While there may be more affordable plans out there, purchasing trip insurance from Travelex can ensure you’re supported and financially protected throughout your trip.

Is Travelex Travel Insurance Reputable?

Yes, Travelex is a reputable, globally recognized travel insurance provider supported by decades of industry experience. Their policies are backed by Zurich Insurance Group, one of the world’s leading insurance carriers, and hold A+ (Superior) ratings from A.M. Best. Travelex also maintains an A+ rating with the Better Business Bureau, further highlighting their credibility and commitment to customer service.

Our Take: Travelex is a well-established, reliable travel insurance provider with decades of experience and strong customer satisfaction ratings. If you are considering protection from Travelex, we recommend their Ultimate plan, which offers strong medical coverage, kid-friendly pricing, and flexible add-ons like Cancel for Any Reason coverage. Budget options, like the Essential plan, may miss the mark due to their low medical limits and lack of coverage for pre-existing conditions. Regardless of which plan you choose, you can travel with the confidence that Travelex’s exceptional customer support will be there when you need them the most.

Travelex Customer Satisfaction Ratings

Travelex consistently ranks among the top travel insurance providers for customer satisfaction on the Squaremouth marketplace. The following ratings are based on more than 3,700 reviews from Travelex customers, and reflect their experience with customer service before, during, and after their covered trip.

According to past customers, Travelex provides excellent customer service at all stages of a trip, especially before departure. You can purchase a plan from Travelex knowing that you’ll be taken care of if issues arise.

Read recent reviews from real Travelex customers below:

Pros & Cons of Travelex Travel Insurance

Travelex Insurance Services is one of the few providers on the market that offers family-friendly pricing for select policies. If you’re seeking flexibility, this provider offers numerous ways to enhance your coverage through a wide selection of optional add-ons, including the popular CFAR coverage.

Travelex also boasts a 21-day Free Look Period, which is among the most generous for comprehensive coverage. This feature allows you to modify or cancel your policy at no cost for up to three weeks after your purchase date.

The majority of negative BBB complaints cite the provider’s claims process, calling out slow response times and communication issues. However, this shouldn’t sway your opinion too much, as Squaremouth customers generally rate Travelex’s post-trip customer service favorably compared to other insurance companies.

Ready to explore your options? Compare Travelex plans against other top providers.

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Travelex’s Single Trip Travel Insurance Plans

Travelex offers two comprehensive travel insurance plans on the Squaremouth marketplace. Each plan provides varying levels of protection for trip cancellations, medical emergencies, travel delays, and baggage issues.

Compare Travelex’s plans in the chart below:

The Ultimate plan is Travelex’s top-selling policy, with medical coverage limits that exceed our minimum recommendations for most trips. The plan offers up to $250,000 in Emergency Medical coverage and $1,000,000 in Medical Evacuation coverage, which makes it a great option for international, cruise, and adventure travel. The plan will also cover one child (under 17) per adult insured on the policy. This alone offers considerable savings if you plan to travel with children. In addition, the Ultimate plan includes a wide selection of optional upgrades, such as giving you the flexibility to tailor your coverage to fit your specific needs.

If budget is your primary concern, the Essential plan is a slightly more affordable alternative. While Travelex Essential offers similar benefits to Travelex Ultimate, it provides significantly lower medical coverage and fewer available add-ons. This policy may be a good option if you’re taking a short, low-risk trip or have existing protection through other sources, such as a travel credit card. While this plan doesn’t meet our coverage recommendations for international travel, it may be a dependable option when used as supplemental coverage.

For most trips, we recommend opting for Travelex’s Ultimate policy due to the higher medical coverage limits, family-friendly pricing, and greater customization options. Since the price difference of Ultimate and Essential isn’t very significant, the additional perks of this plan make it the preferred choice among most Travelex customers. Depending on your travel plans, Travelex Ultimate may offer more coverage than you realistically need. In this case, you can use our comparison platform to find policies with slightly less protection at lower premiums.

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Compare Travelex Travel Insurance vs. Competitors

What’s the best provider? That depends on your trip. Choosing the right one can save you thousands. Here’s how Travelex stacks up.

Plan Features
Overall Coverage	Comprehensive coverage with high medical and trip interruption limits	Broad coverage, with options for customization
Cost	Competitive pricing for comprehensive plans	Moderate pricing with flexible plan options
Customer Rating	4.4 Very Good 2,163 Reviews	4.5 Very Good 208 Reviews
AM Best Rating	A+ (Superior)	A (Excellent)
Unique Benefits	Free coverage for children, CFAR upgrade, identity theft coverage	Sporting equipment coverage
Insurance Partners	Backed by Zurich American Insurance Company.	Backed by BCS Insurance Company and Jefferson Insurance Company.

Average Cost of Travelex vs Competitors

Take a look at how the average cost of Travelex’s policies compares to similar types of travel insurance plans from other top providers.

As shown in the table above, Travelex offers competitive pricing compared to other leading providers. Whether or not you choose to insure your trip costs, Travelex premiums generally fall in the middle of the pack within the industry.

Their medical-only policies currently hold an average premium of $30.95. For reference, the vast majority of medical-only plans on Squaremouth have an average premium below $50. While cheaper plans may exist, they may offer less coverage and come from providers with lower customer satisfaction scores, making Travelex plans a good value for the money.

Comprehensive coverage from Travelex costs $293.34 on average, over $125 less than the average comprehensive policy cost of $423. This can be a great value considering the provider’s customer service track record, robust coverage, and flexibility. It’s possible to find plans from other providers with better built-in coverage, but doing so will likely result in higher costs.

Is Travelex Travel Insurance Worth it?

Yes, Travelex coverage is a smart investment if their plans meet your specific travel needs. Travelex is a well-established provider with more than 25 years of industry experience and strong financial backing. Aside from being highly rated amongst past customers, they also hold great standing with third-party organizations like BBB and A.M. Best.

However, certain Travelex plans may not be a good fit if your trip involves overseas destinations, time at sea on a cruise ship, or adventure activities. For example, Travelex Essential offers just $25,000 in Emergency Medical coverage, which falls short of our minimum coverage recommendations for international and high-risk trips. This plan also doesn’t offer coverage for pre-existing conditions or provide the option to add CFAR to your policy as an add-on.

In terms of pricing, Travelex falls in the middle of the pack. While their plans aren’t always the cheapest available, they offer strong value given the quality of coverage and dependable customer service. The Ultimate plan is a great option if you’re planning international travel, a cruise, or an adventure trip due to its generous medical coverage and array of upgrade options. The plan’s “Kids Covered Free” pricing makes Travelex Ultimate a great deal if you’re traveling with family members under the age of 18.

If you’re unable to find a Travelex plan that fits your coverage needs, you may find stronger options elsewhere. Use our comparison platform to discover other popular travel insurance plans from top-rated providers.

Alternatives to Travelex

While Travelex is a trusted choice for many travelers, it’s worth comparing with other leading providers to find the plan that best suits your trip. Here are three strong alternatives:

Seven Corners is a great option if your primary concern is medical coverage. Their Trip Protection Choice policy currently offers the highest built-in medical coverage limits of any comprehensive plan on our platform.

Tin Leg is an incredibly popular provider that offers one of the strongest budget-friendly options around. The Tin Leg Luxury plan is able to deliver well-rounded coverage at a very generous price point.

Travel Insured International is recognized for its flexible coverage. Their most popular plan, FlexiPAX, offers more opportunities for add-ons and policy upgrades than Travelex’s Ultimate plan, allowing you to tailor protection to your specific needs.

Frequently Asked Questions: Travelex Insurance Services

How Much Are Travelex Travel Insurance Policies?

Travelex premiums are based on a wide range of factors, such as your trip cost, age, trip length, and coverage needs. Based on recent Squaremouth sales, Travelex Ultimate has an average premium of $292, while Travelex Essential has an average premium of $240. Both plans fall below the average cost of travel insurance, which currently sits at $311.

What Does Travelex Insurance Cover?

Travelex plans are comprehensive and are built to cover you against unexpected trip disruptions that result in financial loss. All Travelex plans on Squaremouth include protection against cancellations, medical emergencies, evacuations, delays, missed connections, and baggage-related issues. All Travelex plans also come with 24-Hour Emergency Assistance services.

Refer to the Travelex plan comparison page to see a full list of benefits offered by their various policies.

Does Travelex Cover Kids for Free?

Yes, Travelex Ultimate provides complimentary coverage for one child under 17 per insured adult. This can provide significant savings if you are traveling with kids or grandkids. However, other Travelex plans, such as Essential, do not offer family-friendly pricing.

Visit our Best Travel Insurance for Families list to see other travel insurance plans that offer free travel protection for children.

Do Travelex Plans Cover Pre-existing Conditions?

Yes, Travelex Ultimate offers protection for pre-existing medical conditions. To qualify for coverage, you must purchase your policy within 21 days of your initial trip payment.

Travelex Essential, on the other hand, does not cover pre-existing conditions. Meaning medical care relating to a flare-up of an existing health issue will not be covered.

Does Travelex Offer Any Add-ons or Upgrades?

Yes, Travelex provides a few optional add-ons that can be applied to your policy during the checkout process.

All Travelex plans allow you to add benefits like Rental Car Damage, Sports Equipment Loss, Search and Rescue, and Non-Medical Evacuation to your plan for a small fee. If you choose Travelex’s Ultimate plan, you can also enhance your policy with Cancel For Work Reasons and Cancel For Any Reason coverage.

Does Travelex Travel Insurance Come with Concierge Services?

No, concierge service is not available through any Travelex plan. However, they do offer 24-Hour Travel Assistance Services, which can help refer medical care, coordinate evacuations, provide translation support, facilitate emergency cash transfers, and more.

Does Travelex offer Cancel for Any Reason Insurance?’

Yes, Travelex offers CFAR coverage. However, this optional add-on is only available through the provider’s Ultimate plan. To qualify for this benefit, you must purchase the plan within 21 days of your initial trip payment and insure 100% of your prepaid, non-refundable travel expenses.

Does Travelex offer Annual Travel Insurance?

No, Travelex currently does not sell annual travel insurance plans in the U.S.. Visit our Annual Travel Insurance page to get instant quotes for annual multi-trip protection.

How Do You Buy a Travelex Policy?

You have several options for purchasing a Travelex travel insurance plan. You can buy a policy directly through Travelex’s website or mobile app. However, it’s worth noting that the price will be the same whether you purchase through a comparison site or directly from the provider.

The easiest way is to create a quote and view Travelex’s plans alongside prices and coverage options from other leading providers.

Is Travelex Coverage Primary or Secondary?

Travelex offers both primary and secondary medical coverage depending on the plan you choose. For example, Travelex Ultimate offers primary medical coverage, which means it pays out before any other insurance you may have, such as your primary health insurance. This is the preferred type of medical coverage among most travelers as it often results in a faster claims process.

Travelex Essential, on the other hand, provides secondary medical coverage. With this plan, you will need to file a claim with your primary health insurance provider before being eligible for coverage through your travel insurance policy.

We detail the differences between the two types of coverage in our recent article, What is the Difference Between Primary and Secondary Insurance Coverage?.

How Do I File a Claim with Travelex Travel Insurance?

Filing a claim with Travelex is straightforward. Regardless of the type of claim you are filing, your first step should always be to contact your provider to confirm coverage and get filing instructions.

You can submit your claim online through Travelex’s self-service portal, which allows you to upload documents and track the status of your claim. All relevant information, including claims-related contact details and links, can be found in the section below.