Pros / Travelex Insurance offers multiple upgrade packs to customize its plans.
Cons / This was one of the most expensive plans for the scenarios and it covers less than other companies.
Verdict / Travelex Insurance offers trip insurance for many scenarios and has several additional options to meet your specific vacation insurance needs, but it costs more than our higher-ranked competitors.
Editor's Note: Travelex Insurance Services is now underwritten by Berkshire Hathaway and has an app that allows you to submit claims. Travelex also offers miles and card reimbursement of up to $200, and its insurance protects you in the event of financial default. We will change the information below to reflect these additions when we next update our travel insurance reviews.
While some services on our lineup say they offer a variety of plans but in actuality have a few standard plans rebranded, Travelex Insurance Services gives you a choice of unique plans as well as option packs to help you tailor your travel insurance to fit your specific vacation needs. The overall policies themselves are comprehensive, though not as thorough as those of our higher-ranked companies. Also, Travelex Insurance tends to be slightly more expensive.
For the most part, travel insurance companies are remarkably similar in the benefits they provide. Travelex Insurance provides the expected payouts for cancellation, with 100 percent compensation for expenses incurred for trip cancellation and 150 percent for interruptions. The $1,000 delay compensation is average for the test cases we priced, as is the $600 compensation for expenses incurred for having your luggage delayed. It does not offer some of the perks other trip insurance agencies cover, such as reimbursement for lost mileage or trip cancellation due to financial default of the carrier or tour agency.
Its medical benefits are strong. It is among the top companies for maximum payouts, and it can advance payment to hospitals if you require a stay. It arranges for medevac if needed, or it can fly a family member or friend to you if you are in the hospital for more than a week. For a less urgent medical need, Travelex Insurance has a nurse hotline, and its agents can help you replace lost or stolen prescriptions (though it does not reimburse you for the expense).
If you have specific needs, you can purchase specialized packs. For example, the Active Family Pack includes coverage for children and pets, allows for participation in professional sports events and reimburses missed tuition when a student is traveling to study. The Professional Pack allows cancellation for additional reasons, like military reassignment, and covers professional property such as laptops.
The big drawback to this agency is that overall, its plans seem to be more expensive than those of other top-ranked travel insurance agencies. The prices were toward the top for the domestic trip we priced insurance for but significantly higher for overseas trips. Then, you may add $50 or more for each upgrade pack. A company with lower-priced plans and a lot of good options is USI Affinity.
In addition to insurance, your Travelex Insurance Services policy comes with concierge services to make your vacation more enjoyable. Before your trip, you can call with questions about visas and passports, vaccination recommendations and help getting event tickets or reservations. The ticket and reservation services are available during your trip as well, along with recommendations on restaurants and hotels and help getting rental cars. If you are in another country and don't speak the language, it can help you with a translator.
Travelex Insurance Services offers travel insurance plans with a variety of upgrades. If you have specific needs you want extra coverage for, it's worth looking into, but you may find that you can get similar basic coverage with one of the higher-ranked companies at a better price.