Securing travel insurance can prove invaluable if your domestic or international journey doesn’t unfold as expected. Yet, after finalizing bookings for flights, hotels, rental cars, and various experiences, you likely prefer not to allocate significant additional funds for your trip.
The good news is that travel insurance doesn’t have to be a hefty expense, as some companies present surprisingly affordable rates to safeguard your travels. News.com has compiled data on numerous top-tier travel insurance providers, identifying a few that excel in providing robust coverage at reasonable prices.
Explore the following recommendations for the best cost-effective travel insurance companies if you’re in search of coverage for your upcoming adventures. (Refer to our methodology for a detailed understanding of how we curated this list.)
Best cheap travel insurance
- Best overall: Berkshire Hathaway Travel Protection
- Runner-up: World Nomads Travel Insurance
- Best for families: C&F Travel Insured International Travel Insurance
- Best for cruises: Nationwide Travel Insurance
Best overall
Berkshire Hathaway Travel Protection
- CostThe best way to estimate your costs is to request a quote
- Policy highlightsBerkshire Hathaway Travel Protection has multiple plans to cover vacations from luxury travel to adventure travel. The brand’s LuxuryCare offers the highest limits of travel insurance coverage offered by the company. Quotes and policies are available online.
- 24/7 assistance availableYes
| Pros | Cons |
|---|---|
| Wide variety of policies available | Cancel for any reason only provides reimbursement for up to 50% of non-refundable trip payments |
| Strong financial strength rating by AM Best |
For whom is this? Berkshire Hathaway Travel Protection is a great choice for individuals seeking robust coverage supported by a major insurance provider at a reasonably affordable cost.
Noteworthy advantages: This company provides travel insurance customized for various modes of transportation and travel preferences. It includes extra coverage for canceling for any reason (CFAR) and rental car collision protection.
Runner-up
- CostThe best way to estimate your costs is to request a quote
- Policy highlightsWorld Nomads offers travel insurance for all sorts of travelers, from families to solo adventure travelers. Policies are underwritten by Nationwide and offer strong coverage of emergency accident and illness situations, as well as emergency evacuation scenarios.
- 24/7 assistance availableYes
| Pros | Cons |
|---|---|
| Affordable coverage for many travelers | Lower trip cancellation limits than other travel insurance we reviewed |
| Coverage for adventure activities like scuba diving, bungee jumping and more |
Who is this suitable for? World Nomads Travel Insurance is an excellent option for travelers seeking cost-effective coverage. It stands out, particularly for individuals engaging in adventure activities such as scuba diving, which might not be covered by some other travel insurance plans.
Key advantages: This travel insurance provides protection for stolen gear or belongings, along with generous coverage limits for emergency medical insurance compared to some of the other plans we evaluated.
Best for families
C&F Travel Insured International Travel Insurance
- CostThe best way to estimate your costs is to request a quote
- Policy highlightsTravel Insurance from this company can include annual travel insurance plans as well as single-trip travel insurance. Optional coverages include cancel for any reason coverage and travel inconvenience coverage. Cruise insurance is available.
- 24/7 assistance availableYes
| Pros | Cons |
|---|---|
| Cruise coverage available | CFAR not available to New York residents |
| Option to enhance your coverage with additional, optional coverages |
Who is this suitable for? C&F Travel Insured International is an ideal choice for families preparing to safeguard an upcoming trip or vacation. With two available plans (in most states), it covers a range of situations, including trip interruptions and missed tour or cruise connections.
Notable advantages: C&F’s policies are especially family-friendly, as children aged 17 and younger can be included at no additional cost when on the same plan as a paying adult. Additionally, it provides comprehensive evacuation benefits.
Best for cruises
Nationwide Travel Insurance
- CostThe best way to estimate your costs is to request a quote
- Policy highlightsNationwide’s wide coverage for travel insurance allows many different types of travelers to find coverage that fits their needs. Three levels of cruise insurance coverage gives extra options to cruise passengers.
- 24/7 assistance availableYes
| Pros | Cons |
|---|---|
| 10-day review period on cruise insurance policies to make sure the plan meets your needs (not available in NY or WA) | Most basic cruise plan doesn’t offer CFAR coverage |
Who is this suitable for? Nationwide provides specialized, cruise-specific coverage tailored for individuals embarking on a cruise. With three distinct levels of cruise-specific coverage, it assists with issues like mechanical breakdowns, itinerary changes, and other disruptions that may occur on the ship.
Key advantages: Nationwide also extends its offerings to single trip insurance and annual trip insurance plans, catering to those planning various types of vacations.
Berkshire Hathaway Travel Protection:
Berkshire Hathaway specializes in tailored coverage for various types of travelers, catering to adventure enthusiasts planning activities like skydiving or scuba diving, as well as offering luxury travel coverage. The company also provides customized plans for road, air, and cruise travel. Claims are processed swiftly, sometimes within the same day.
CFAR coverage available?
Yes
24/7 assistance?
Yes
World Nomads Travel Insurance:
World Nomads, backed by Nationwide, provides travel insurance coverage with a 10-day review option (assuming no claims have been filed) to ensure it meets your needs. The company also allows you to purchase coverage while already abroad.
CFAR coverage available?
No
24/7 assistance?
Yes
C&F Travel Insured International:
With 25 years of experience, C&F Travel Insured International offers a mobile app for quick access to travel alerts and in-app claims. This travel insurance is a suitable choice for those booking with points or miles, as plans offer up to $250 for penalty costs related to returning points or miles to an account when a trip is canceled for a covered reason.
CFAR coverage available?
Yes
24/7 assistance?
Yes
Nationwide Travel Insurance:
Nationwide’s travel insurance provides a range of options for all types of travelers, including those on cruises. The coverage is robust for both interruption scenarios and medical situations. Customer service is available 24/7 worldwide.
CFAR coverage available?
Yes
24/7 assistance?
Yes
In summary
Travel insurance is designed to provide coverage for a range of situations, spanning from medical emergencies abroad to issues like lost luggage or travel delays. Typically, it amounts to approximately 5% to 10% of your non-refundable trip expenses, offering potential significant savings if your plans go awry. It’s crucial to explore different options, considering that some companies may provide more budget-friendly rates than others. Additionally, keep in mind that you might already possess some level of coverage if you hold specific premium credit cards.
Why trust us?
At MNC, our commitment is to deliver high-quality service journalism and comprehensive consumer advice to empower our readers in making informed decisions about their finances. Each travel insurance review is the result of thorough reporting by our team of expert writers and editors, possessing extensive knowledge of travel insurance products. While MNC earns commissions from affiliate partners through various offers and links, we independently create all our content without influence from our commercial team or any external third parties. We take pride in upholding our journalistic standards and ethics. Refer to our methodology for more insights into how we select the best affordable travel insurance.
Our Approach
In determining the top affordable travel insurance companies, CNBC Select extensively reviewed numerous U.S. travel insurance providers, each offering a diverse range of policies covering various situations.
While narrowing down the selection, our focus was on evaluating the available coverage, considering factors such as the variety of plans offered, 24/7 assistance availability, and the inclusion of Cancel for Any Reason (CFAR) coverage. We also factored in financial strength ratings from AM Best and customer satisfaction ratings from the Better Business Bureau.
To assess costs, we obtained quotes for four sample trips from the leading travel insurance companies. These included:
- A two-person trip to Mexico:
- $2,000 per person, $4,000 total
- New York residents
- Travelers aged 35
- A two-person trip to the United Kingdom:
- $3,000 per person, $6,000 total
- New York residents
- Travelers aged 65
- A family of four’s trip to the United Kingdom:
- $3,000 per person, $12,000 total
- New York residents
- Two travelers aged 35 with two children, ages 8 and 10
- A cruise to Alaska for a family of four (including flights):
- $3,000 per person, $12,000 total
- New York residents
- Two travelers aged 35 with two children, ages 8 and 10
Sample quotes assumed that payments were made on the date of quoting.
It’s important to note that premiums and policy structures advertised by travel insurance companies are subject to fluctuate based on the company’s policies.
