Travelex Travel Insurance: Quick Overview
The company stands out due to its strong financial backing from Zurich and Berkshire Hathaway, kids-included pricing on the Ultimate plan for children 17 and under, and competitive rates that generally fall below the industry average. However, the review also highlights a significant drawback: an inconsistent and often frustrating claims process handled by Zurich Claims Administration, which is characterized by slow response times and frequent requests for additional documentation. The limited window for pre-existing condition coverage and the absence of annual plans are also key weaknesses to consider.
Overall, we rated Travelex Travel insurance 8.6 out of 10, making it a competitive option compared to its peers. This solid ranking was enough to secure a spot on our list of the best travel insurance companies.
Key Strengths
- Strong financial backing through Zurich, with three comprehensive plan options launched in December 2024.
- Kids-included pricing on the Ultimate plan covers children 17 and under at no extra cost.
- Competitive pricing with the Ultimate plan averaging $292 and the Essential at $240, both below the industry average of $311.
Key Weaknesses
- Inconsistent claims processing with frequent documentation requests and slow response times from Zurich claims administration.
- Limited pre-existing condition coverage requiring purchase within 15-21 days of initial deposit on select plans only.
- No annual or multi-trip plans are available for frequent travelers.
Who is Travelex Best For?
Families planning domestic or international trips who want solid coverage without breaking the bank, especially those with kids, can take advantage of the free coverage for children under 18.
Travelex Travel Insurance
Travelex's primary appeal lies in its strong financial backing and competitive, family-friendly pricing. The company's policies are underwritten by financially robust carriers, including Berkshire Hathaway Specialty Insurance Company and Zurich Insurance Group, both holding high A++ and A+ (Superior) ratings from A.M. Best. This dual backing provides a strong reassurance that claims will be paid. Furthermore, their pricing is competitive, with the Ultimate and Essential plans averaging below the industry standard. For families, the Ultimate plan offers a significant perk: complimentary coverage for one child (17 and under) per insured adult, which can lead to genuine cost savings.
A key differentiator for Travelex is its generous policies and flexible coverage options. It offers a 21-day "Free Look Period," which is more generous than most competitors' 10-14 day windows, allowing ample time to review, modify, or cancel a policy without penalty. The Ultimate plan also accommodates longer trips, covering up to 180 days. Travelers can customize their plans with optional upgrades, such as Adventure Sports Coverage, rental car damage, and Cancel For Any Reason (CFAR) on the Ultimate plan, enabling a modular approach to coverage.
The company is consistently praised for its excellent pre-trip customer service and user-friendly digital experience. Reviewers often highlight patient, knowledgeable representatives who are helpful in explaining coverage options and guiding the purchase process. The website makes getting an instant quote and reviewing exact coverage limits a straightforward process. However, while the pre-trip experience is strong, the review notes a key area of weakness in the inconsistent and sometimes frustrating claims process handled by Zurich Travel Claims Administration, which is an important consideration despite the company's other advantages.
- Backed by financially strong underwriters with A++ and A+ (Superior) A.M. Best ratings, ensuring claims-paying ability.
- Free coverage for children 17 and under on the Ultimate plan (one child per adult) significantly reduces family travel insurance costs.
- Competitive pricing with average premiums below industry average ($292 for Ultimate, $240 for Essential vs. $311 industry average).
- Generous 21-day Free Look Period allows ample time to review and modify or cancel policy without penalty.
- Excellent pre-trip customer service with knowledgeable, patient representatives and a user-friendly website.
Travelex Company Overview
Travelex Insurance Services has been operating for nearly 30 years as a leading provider of travel insurance in North America. Founded in Omaha, Nebraska, the company was originally part of Mutual of Omaha Companies before being purchased by the currency exchange company Travelex. However, it’s now owned by the Australian company Cover-More Group. In 2017, Travelex joined the Zurich family of global brands, strengthening its international footprint and North American presence.
The company is headquartered in Omaha, Nebraska, and operates throughout the United States and Canada. In December 2024, Travelex launched a suite of travel insurance plans designed to meet changing traveler needs, including the Ultimate, Advantage, Essential, and specialty options like Travel Med Go and Flight Insure.
Travelex holds proper licensing and accreditation. The company has been BBB Accredited since July 1999 and maintains an A+ BBB rating, demonstrating a long-standing commitment to customer service standards.
Travelex Financial Strength & Solvency
Travelex Insurance Services and its underwriter, Berkshire Hathaway Specialty Insurance Company, both receive high A++ financial ratings by A.M. Best. Policies are also backed by Zurich Insurance Group, one of the world’s leading insurance carriers, which holds an A+ (Superior) rating from A.M. Best.
This dual backing from both Berkshire Hathaway and Zurich provides solid reassurance that your claims will be paid when needed. These companies have the financial muscle to handle large claim volumes, which is crucial when unexpected travel disasters strike. With nearly 30 years in business and these top-tier financial ratings, you’re not dealing with a fly-by-night operation.
Travelex Coverage Options
Travelex now offers a streamlined lineup of plans following their December 2024 restructuring:
Comprehensive Plans
- Ultimate Plan: The most comprehensive option with up to $250,000 in emergency medical coverage, $1,000,000 for emergency evacuation, and up to $50,000 trip cancellation coverage with a maximum trip length of 180 days
- Advantage Plan: Mid-level policy providing similar coverage types as Essential, but with slightly higher coverage amounts, though pre-existing condition waivers and cancel for any reason add-ons aren’t available
- Essential Plan: Budget option with $25,000 in emergency medical coverage, suitable for lower-cost trips but lacking pre-existing condition coverage or CFAR options
Other Coverage
- Travel Med Go for post-departure medical coverage, Flight Insure and Flight Insure Plus for flight-specific protection
- Trip Cancellation/Interruption: All comprehensive plans include this coverage, with limits varying by plan tier. Coverage applies when you cancel your trip before departure for eligible reasons, such as serious illness, weather events, or job termination, provided you notify us within 72 hours of cancellation.
- Medical Coverage: Ultimate provides up to $250,000 in primary emergency medical coverage; Essential offers $25,000. This is solid for international travel, where your standard health insurance may not provide coverage.
- Emergency Evacuation: Ultimate includes up to $1,000,000 for emergency medical evacuation and repatriation, which is critical given that emergency evacuations can easily cost six figures.
- Baggage Loss/Delay: All comprehensive plans include baggage protection, though specific limits vary by plan tier.
- Travel Delay: Ultimate provides up to $2,000 for travel delays and $750 for missed connections, helping cover unexpected hotel stays and meals when things go sideways.
- Cancel For Any Reason (CFAR): Available only as an optional upgrade on the Ultimate plan, reimbursing up to 75% of prepaid, nonrefundable trip costs.
- Pre-existing Condition Coverage: Available only on the Ultimate plan when purchased within 3 weeks of initial trip payment, and all trip costs are insured. This is less generous than some competitors who offer 15-day windows.
- Adventure Sports Coverage: Optional adventure activities upgrade includes coverage for activities such as mountain climbing, parasailing, and hot-air ballooning, and provides search-and-rescue services.
Coverage Limits & Flexibility
The Ultimate plan caps trip costs at $50,000 and allows maximum trip lengths of 180 days (90 days in Washington state). This is flexible for most travelers, though digital nomads planning longer stays might need alternative solutions.
The plans offer reasonable customization through add-ons. Ultimate offers nine optional upgrades, including rental car damage, pet care, rental property security deposit protection, and additional medical coverage. This modular approach lets you build coverage that actually matches your trip instead of paying for stuff you don’t need.
Like most travel insurance companies, Travelex doesn’t cover everything. Standard exclusions include extreme sports without the adventure upgrade, pre-existing conditions (unless waived), and high-risk activities like professional sporting events. The policies also won’t cover losses from known events or circumstances that existed before you purchased the policy.
Travelex Affordability & Value
Based on recent sales data, Travelex Ultimate averages $292 per policy, while Essential averages $240, both of which fall below the current travel insurance industry average of $311. For context, travelers typically pay between 6% and 7% of their total trip cost for travel insurance.
Let’s break down what this looks like in absolute numbers. A sample trip for a 36-year-old traveler from Indiana to Canada for five days found the cheapest Travelex plan cost $130, while the premium plan cost $176. For a one-week Italy trip, an Essential policy is the most cost-effective option. At the same time, Ultimate is surprisingly competitive for families, as it includes free coverage for one child per adult.
Value Proposition: You’re getting solid coverage at prices that won’t make you wince. The real value shines for families since the Ultimate plan covers one child aged 17 or younger at no additional cost per insured adult, meaning two adults traveling can have two children covered free. That’s a genuine money-saver compared to paying full price for each kid with other insurers.
The company offers minimal discounts, focusing instead on straightforward pricing. Travelex offers a 21-day Free Look Period, allowing you to modify or cancel your policy at no cost for up to 3 weeks after purchase, which is among the most generous in the industry.
Price transparency is solid. You can get instant quotes online, and the website clearly breaks down what each plan covers without making you jump through hoops or talk to a sales rep.
Travelex Customer Service
All Travelex plans include 24/7 emergency assistance and travel support services, which are crucial when you’re dealing with a crisis in a foreign country at 3 AM. The emergency hotline is available around the clock, though standard customer service operates on more limited hours.
Average wait times vary significantly based on when you call and what you need. Multiple reviewers mentioned frustrating hold times, particularly when trying to reach claims support. The company primarily supports English, with language interpretation services available through its 24/7 emergency assistance.
Support Channels
Travelex offers multiple contact options:
- Phone: 1-800-228-9792 for general inquiries; separate claims line at 800-501-4781 (Monday-Friday, 7:00 AM-7:00 PM CT)
- Email: [email protected]
- Online: Self-service claims portal available
- Mobile App: Travel On app for policy access and assistance
- Social media responsiveness wasn’t extensively documented, though the company maintains a presence on standard platforms.
Customer Service Quality
Here’s where things get mixed. Trustpilot reviews consistently praise the pre-trip customer service, with customers calling representatives patient, helpful, and knowledgeable. Multiple reviews note that Travelex customer service is easily accessible and useful, though some travelers feel the provider could offer more updates during claims processing.
The pre-purchase experience is solid. Reps take time to explain coverage options and help you pick the right plan without being pushy. But once you’re in claims territory, the experience becomes significantly more inconsistent (more on that in the Claims Process section).
Travelex Online & Digital Experience
The website is consistently described as customer-friendly and easy to navigate, with good options and clear plan comparisons. Getting a quote is straightforward: you enter your trip details, destination, dates, and traveler ages, and the system spits out your options with pricing.
The quote process takes just a few minutes, and you can review exact coverage limits and terms before purchasing, with a 15-day review period after purchase to request a full refund if needed. The site clearly displays what’s covered under each plan tier, though some users wished for more side-by-side comparison features.
Mobile App
The Travel On app provides policy access and emergency assistance features. Specific app store ratings weren’t definitively documented in current reviews, but the app appears functional for basic policy management and accessing 24/7 assistance services.
Digital Tools
Claims can be easily filed online through Travelex’s self-service portal. You’ll need your policy number to access the claims system, where you can upload supporting documentation, describe your loss, and submit receipts. The digital upload capability beats mailing paper documents, though the process can still involve back-and-forth requests for additional information.
Policy documents are available online after purchase, and coverage confirmation is sent via email. The system lets you make policy modifications before your trip starts, adding flexibility if your plans change.
Travelex Customer Satisfaction & Reputation
Travelex maintains a strong reputation for its pre-trip service and accreditation, including an A+ BBB rating and an “Excellent” rating on Trustpilot, but its customer satisfaction is significantly marred by an inconsistent and frustrating claims process managed by Zurich.
Better Business Bureau (BBB)
Travelex maintains an A+ rating with the BBB and has been accredited since July 1999. However, the majority of negative BBB complaints cite the provider’s claims process, calling out slow response times and communication issues.
Looking at recent complaints over the past three years, common themes include claim denials due to documentation requirements, slow response times from Zurich claims administration, and frustration with back-and-forth communication. Several complaints mention situations in which customers felt their legitimate claims were denied on technical grounds or were unable to get responses to inquiries for weeks or months.
The company does respond to most complaints, though resolution rates and customer satisfaction with those resolutions vary. Some complainants report satisfaction after BBB intervention, while others remain frustrated with the outcomes.
Trustpilot
Travelex holds a 4.3 out of 5 rating on Trustpilot (categorized as “Excellent”), based on customer feedback. Consumers consistently praise the easy-to-navigate website, excellent customer service with patient and knowledgeable representatives, and the ability to customize plans.
However, reviewers point out areas for improvement, including the claims process and the inability to easily designate beneficiaries during initial purchase. The overall sentiment leans positive, with many customers expressing willingness to use Travelex again.
Recent review trends show appreciation for the company’s helpfulness during emergencies abroad, with several travelers sharing stories of Travelex covering medical bills and arranging emergency evacuations. The negative reviews typically center on claims denials and documentation requirements.
Reddit & Social Media Sentiment
While extensive Reddit discussions weren’t captured in the search results, the overall social media sentiment reflects themes similar to those on other review platforms. Pre-trip experiences get thumbs up, while claims experiences range from smooth to frustrating, depending on the specific circumstances and documentation provided.
Industry Awards & Recognition
Travelex has won multiple awards for customer care; in November 202,4, it received a Gold Magellan Award from Travel Weekly in the Travel Insurance Marketing – Webinar category. In December 2024, Gifted Travel Network honored Travelex with the GTN 2024 Spotlight Award for Insurance Partner of the Year.
The company maintains memberships in professional organizations, including the American Society of Travel Agents and the US Travel Insurance Association, lending additional credibility to its industry standing.
Travelex Claims Process
Here’s where Travelex’s reputation takes a hit. Let’s be real: the claims process is where any travel insurance company either proves its worth or reveals itself to be all talk.
Filing Process: The fastest way to file is online through the Travelex claims website. You’ll need your policy number, trip dates, purchase information, proof of loss, receipts, and information about how you want to receive reimbursement. You can also call 800-501-4781 or email [email protected].
Required Documentation: This is where things get complicated. Multiple customers report frustration with repeated requests for additional documentation, sometimes spanning several months of back-and-forth communication. One reviewer described their experience as “painful,” requiring significant back-and-forth despite ultimately receiving reimbursement for most expenses.
The documentation requirements can be stringent. Some claims were denied or delayed because travelers couldn’t provide specific incident reports from airlines or other carriers, even though the policy doesn’t explicitly require such reports.
Processing Time: Reviews indicate that processing times vary widely, with some claims being resolved in weeks while others drag on for months, particularly during high-volume periods. One positive review noted receiving a reimbursement check within three weeks of filing for a pre-departure cancellation.
Approval Rates & Customer Feedback: There’s no publicly available claims approval rate, but customer feedback is decidedly mixed. Some travelers report smooth, professional claims handling, while others describe the process as unnecessarily complicated and frustrating. One reviewer called the company “a ripoff” after their claim was denied for not calling a doctor while abroad, even though they provided documentation from their US doctor.
Key Issue: Travelex itself doesn’t make claim determinations; Zurich Travel Claims Administration handles all claims. This separation means you might have great experiences with Travelex’s sales and customer service teams, but still face challenges with Zurich’s claims examiners. The disconnect between these entities can leave customers feeling frustrated when problems arise.
Payment Methods: Approved claims are typically paid via check or direct deposit, though specific payment timelines after approval weren’t consistently documented.
Travelex Unique Features & Differentiators
Travelex brings several standout elements to the table that separate it from the pack:
Kids-Included Pricing: The Ultimate plan’s complimentary coverage for one child under 17 per insured adult genuinely saves families money compared to competitors who charge per traveler regardless of age.
Generous Free Look Period: The 21-day Free Look Period exceeds most competitors’ 1014-day windows, giving you more time to review your policy and make changes or cancel without penalty.
Flexible Coverage Duration: Ultimate’s coverage for trips up to 180 days accommodates longer journeys without requiring multiple policies or annual coverage.
Post-Departure Coverage: The Travel Med Go plan fills a niche for travelers who forgot to buy insurance before departing or whose circumstances changed mid-trip.
Flight-Only Insurance: Two dedicated flight insurance options (Flight Insure at $17 and Flight Insure Plus at $39) provide bare-bones coverage for short trips where comprehensive insurance feels excessive.
Travelex Pros and Cons
Pros
- Backed by financially strong underwriters with A++ and A+ (Superior) A.M. Best ratings, ensuring claims-paying ability.
- Free coverage for children 17 and under on the Ultimate plan (one child per adult) significantly reduces family travel insurance costs.
- Competitive pricing with average premiums below industry average ($292 for Ultimate, $240 for Essential vs. $311 industry average).
- Generous 21-day Free Look Period allows ample time to review and modify or cancel policy without penalty.
- Excellent pre-trip customer service with knowledgeable, patient representatives and a user-friendly website.
Cons
- Inconsistent and often frustrating claims process with frequent documentation requests, slow response times, and poor communication from Zurich claims administration.
- Limited pre-existing condition coverage window (21 days) only on the Ultimate plan, more restrictive than some competitors.
- No annual or multi-trip insurance options for frequent travelers who need year-round coverage.
- Essential plan’s low $25,000 medical coverage falls short for international trips and doesn’t offer pre-existing condition coverage or CFAR options. The separation between Travelex (sales/service) and Zurich (claims) creates a disconnect and potential frustration for customers.
Our Verdict & Overall Score for Travelex Travel Insurance
Travelex Insurance makes sense for families with young kids planning domestic or international trips who value solid financial backing and competitive pricing. The kids-included pricing on the Ultimate plan represents genuine savings that add up quickly, and the company’s financial strength through Berkshire Hathaway and Zurich provides reassurance that the money will be there when needed.
The pre-trip experience is genuinely good. The website works, the reps are helpful without being pushy, and getting a quote takes minutes. For straightforward trips where nothing goes wrong, you’ll be delighted with your decision to choose Travelex.
However, the claims process represents the company’s Achilles’ heel. If you need to file a claim, prepare yourself for potential frustration. The back-and-forth documentation requests, slow response times from Zurich claims administration, and occasional rigid interpretation of policy terms can turn what should be a straightforward reimbursement into a months-long ordeal. This isn’t everyone’s experience, but it happens frequently enough to warrant serious consideration.
Choose Travelex if:
- You’re traveling with kids under 18 and want to save money on family coverage.
- Your trip costs fall within the $5,000-$50,000 range and last under 180 days.
- You value strong financial backing and A++ rated underwriters.
- You want solid coverage at below-average prices.
- Your trip is relatively straightforward without complex circumstances.
Look elsewhere if:
- You travel frequently and need annual multi-trip coverage.
- You have significant pre-existing medical conditions and need more comprehensive coverage options.
- You’re planning a very long-term trip exceeding 180 days.
- You absolutely need the smoothest possible claims experience and are willing to pay premium prices for it.
- You need more than 21 days from your initial deposit to secure pre-existing condition coverage.
About Our Methodology
We use a weighted scoring system for travel insurance reviews. We compared 20 companies on key factors, including their travel insurance rates, to inform our ratings. Once we scored each company, we applied a curve based on the best overall product. Here’s what we look for:
- Financial Strength & Solvency: 20%
- Affordability & Value: 15%
- Customer Service: 20%
- Online & Digital Experience: 10%
- Customer Satisfaction & Reputation: 20%
- Claims Process: 15%
How Travelex Scored
- Financial Strength: 9/10
- Affordability: 8/10
- Customer Service: 7/10
- Online Experience: 8/10
- Customer Satisfaction: 7/10
- Claims Process: 6/10
You can learn more about how each company scored and what curve was applied here: Travel Insurance Reviews.
