Are you looking to purchase travel medical insurance but aren’t sure which insurance company to choose?
If you’re leaving the country, travel insurance is an absolute necessity. If you’re traveling and you experience an unexpected illness or injury, your travel medical insurance will reimburse you for the costs that are covered by your plan.
If you don’t have travel medical insurance, you’ll have to pay entirely out of pocket for your medical expenses. Depending on what country you’re in, this could result in thousands of dollars of medical bills.
With the best travel medical insurance, you can rest easy knowing that if something goes wrong on your trip, you’ll be covered. But, it’s important to understand that not all travel insurance companies are created equally. Some offer robust plans, while others just cover the bare bones.
How do you know which insurance company is best?
Check out this guide to discover the best travel medical insurance companies.
Understand the Types of Insurance
Before we dive into the best travel medical insurance companies, it’s important to understand how travel medical insurance differs from travel insurance, regular health insurance, and international health insurance.
Regular health insurance is (hopefully) what you already have. Health insurance covers all or part of a person’s medical expenses. However, most of the time, it does not cover medical expenses abroad. This is why it’s necessary to purchase travel medical insurance. You can follow this link for more information on regular health insurance.
Travel insurance, on the other hand, covers vacation-related mishaps. It is a short-term insurance policy that covers things like lost luggage, trip cancellations, flight accidents, emergency evacuations, and other unpredictable scenarios. Some travel insurance plans also cover medical emergencies, however, it depends on the particular policy. This is why it’s so important to understand what’s in a policy before purchasing.
Lastly, we have international health insurance. International health insurance is for those who plan to live abroad for an extended period of time. International health insurance is similar to domestic health insurance. It covers things like checkups, visits to your primary physician, prescription refills, and x-rays.
Travel medical insurance, on the other hand, is for emergency situations.
The Best Travel Medical Insurance Companies
Now that you understand what travel medical insurance is, let’s talk about the best travel medical insurance companies. These include:
One of the best travel medical insurance companies out there is Travelex. Travelex offers the following:
- Coverage for cancelled or interrupted trips
- Emergency medical protection and evaluation
- 24/7 Assistance
How much coverage you get will depend on the plan you choose. Here are the coverage options:
Travel Basic Plan
The Travel Basic Plan offers you protection for a variety of unforeseen circumstances. If you become ill while traveling or sustain an injury while traveling, the Travel Basic Plan offers emergency medical assistance as well as medical and dental expense coverage.
This plan covers up to $15,000 worth of emergency medical expenses. It also offers primary coverage with no deductibles, as well as up to $10,000 in coverage for trip cancellations and interruptions.
If you find that your baggage hasn’t arrived to your final destination, the Travel Basic Plan offers a 12-hour baggage delay benefit.
Travel Select Plan
If you want a bit more coverage than the Travel Basic Plan, then you should opt for the Travel Select Plan. The Travel Select Plan offers you up to $50,000 coverage in emergency and medical expenses.
You also get primary coverage with no deductibles, as well as a 15-day pre-existing condition exclusion waiver. The plan also includes protection for children under the age of 17.
Travel America Plan
Travelex’s most comprehensive plan is their Travel America Plan. This plan allows you to receive shared benefits for up to eight travelers, making it a great option for families.
The Travel American Plan comes with a:
- 3-day pre-existing condition exclusion waiver
- Up to $50,000 covered in emergency medical expenses
- Car rental collision coverage and roadside assistance
However, it’s important to keep in mind that this plan only covers you for trips within the United States.
IMGlobal is another excellent travel medical insurance company to look into. You can opt for their Patriot American Plan, which covers trips within the US, or their Patriot International Plan, which covers trips outside of the US.
Depending on the policy you choose, you can get anywhere between $50,000 to $8 million covered in emergency medical expenses. For the Patriot Travel International Plan, your deductible will be between $0 and $2000. For the Patriot Platinum International Plan, your deductible will be between $0 and $25,000.
However, the Platinum Plan is the one that offers up to $8 million in emergency medical coverage. IMGlobal also gives you the option to extend your plans. You can extend the Patriot Travel International Plan for up to 24 months, and you can extend the Patriot Platinum International Plan for up to 36 months.
The Patriot Travel International Plan also offers up to $1 million coverage for emergency medical evacuation, and the Platinum Plan offers up to the maximum limit for emergency medical evacuation coverage.
All Patriot series plans also cover:
- Urgent care clinic visits
- Physicians’ visits
- Emergency room care
- Intensive care
- Local ambulance
- Return of minor children
- Return of mortal remains
- Natural disaster evacuation
- Emergency eye exams
- Emergency dental treatments
- Pet returns
- Prescription medications
- Accidental death and dismemberment
- Lost luggage
- Identity theft
As you can see, their plans are quite comprehensive, and they’re a great option for solo travelers and group travelers alike.
3. Allianz Global Assistance
Allianz Global Assistance has been a trusted travel medical insurance company since 1890. While they offer a variety of insurance policies, their OneTrip Prime Plan is their best option for international travelers.
This plan covers:
Trip Cancellation: Allianz will reimburse you up to $100,000 in pre-paid, nonrefundable expenses if you need to cancel your trip due to a covered reason.
Trip Interupption: Allianz will reimburse you up to $150,000 for the unused, nonrefundable portion of your trip. They’ll also reimburse you for any increased transportation costs that you accrue while returning home due to a covered reason.
Travel Delay: Allianz will reimburse you up to $200 per day (or $800 in total) for additional travel expenses if your trip is delayed by five or more hours. If you miss a tour or cruise because of a covered delay, Allianz will also offer reimbursement. You can also opt to receive a fixed inconvenience payment of up to $100 per day should you experience a covered delay. You won’t need to show any receipts, just proof of your delay.
Baggage Loss or Damage: Allianz will cover up to $1000 in lost, damage, or stolen baggage.
Baggage Delay: Allianz also covers baggage delay or misdirection. They’ll reimburse you up to $300 for a delay that lasts 12 hours or more. You’ll need to show receipts for emergency purchases. You can also opt to receive a $100 fixed inconvenience payment after a covered baggage delay without proof of receipts.
Emergency Medical: Allianz’s OneTrip Prime Plan offers up to $25,000 in coverage for emergency medical expenses.
Emergency Medical Transportation: The Prime Plan also offers up to $500,000 worth of coverage for emergency medical transportation to the nearest hospital or appropriate facility.
Change Fee Coverage: If you need to change the date on your plane ticket or train ticket for a covered reason, then they’ll offer you up to $500 in reimbursement.
Smart Benefits: Allianz also offers a unique feature called Smart Benefits. With Smart Benefits, you can receive a $100 fixed inconvenience payment per day, per insured person for covered baggage delays and travel delays. You don’t need to show any receipts. All you need to do is show proof that your trip was delayed. If the delay occurs on a flight that’s monitored by Allianz Global Assistance, you’ll qualify for automatic reimbursement. All you need to do is submit your flight itinerary through their online portal and you’ll get your $100 right away.
Loyalty Program Redeposit Fee Coverage: If you’re a frequent flyer, then Allianz’s Loyalty Program is a huge bonus. If your trip is cancelled for a covered reason, you’ll get reimbursement for your frequent flyer miles.
Rental Car Damage: For just $9 per day, you can get protection for rental car damage.
Allianz’s OneTrip Prime Plan also comes with 24-hour hotline assistance. They have a multilingual team that’s available 24 hours a day to help you handle your travel emergencies. They also have a concierge service. Their concierges can provide you with detailed information about travel destination, and they can assist you with event tickets, restaurant reservations, tee times, and more.
Best Travel Medical Insurance Company: Are You Ready to Travel the World?
Now that you know about the best travel medical insurance companies, it’s time for you to decide which one is right for you. The right travel insurance will give you peace of mind during your trip and protect you during an emergency, so don’t leave home without it.
And, be sure to check back in with our blog for more travel-related tips and tricks.