Travel Guard Insurance vs. Travelex Travel Insurance (2024)

FAQs

What is the best travel insurance company to use? ›

After researching and rating 20 different travel insurance companies, the MarketWatch Guides team awarded AIG Travel Guard 4.6 out of 5 stars based on our comprehensive provider review methodology. AIG offers eight policies that can provide medical and trip coverage for a wide variety of traveler needs.

Travelex Insurance Services plans are underwritten by Berkshire Hathaway Specialty Insurance Company. Travelex Insurance Services is a subsidiary of Cover-More Holdings USA, Inc. which is a wholly owned subsidiary of Zurich Insurance Group Limited (“ZIG”), headquartered in Zurich, Switzerland.

For you frequent travelers out there, we have the Travel Guard Annual Travel Plan with essential coverage for multiple trips throughout the year. You'll get 24/7 travel assistance services, along with coverage for medical expenses, trip interruption, lost or delayed baggage and medical evacuations.

Unlike other aspects of your travel experience like airfares or hotel-room rates, the price of travel insurance doesn't increase the closer you get to your travel date. There's no financial penalty if you wait to buy travel insurance (except for those bonus coverages, of course).

In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you'll have protection and the more benefits you may be eligible to receive.

Insurance is underwritten by National Union Fire Insurance Company of Pittsburgh, Pa.

About AIG Travel and Travel Guard

Travel Guard® is the marketing name for its portfolio of travel insurance and travel-related services.

If your trip is canceled for a covered reason, a policy will often reimburse airline tickets, hotel rooms, rental cars, tours, cruises and other prepaid, non-refundable expenses.

Formerly part of now-defunct Finablr, Travelex's fortunes quickly turned due to the coronavirus pandemic and a cyberattack that forced it to temporarily disable its systems. It then went through a pre-pack administration that led to more than 1,300 job losses and saw its creditors seize control.

Is Travelex a US company? ›

Travelex International Limited is a foreign exchange company founded by Lloyd Dorfman and headquartered in Peterborough, United Kingdom. Its main businesses are foreign currency exchange, issuing prepaid credit cards for use by travellers, supplying central banks with foreign currency and global remittance.

The Travelex Money App makes ordering, transferring, and checking currencies quick and simple on your travel card. You can also use the Travelex travel exchange rate tracker to check currencies in real time. You can order a travel money card online or purchase one directly from a Travelex store.

Popular coverages like Trip Cancellation, Trip Delay, Baggage Coverage, and medical expense coverage are all provided on the Essential Plan. You won't feel like you're missing out with the Essential Plan.

On some Travel Guard travel insurance plans there is the available option to add-on Cancel for Any Reason (CFAR) coverage – a separate benefit that gives you the ability to cancel for any reason (whether listed as a covered reason or no less than two days before your scheduled trip departure).

Travel insurance will generally cost 5% to 10% of your total trip price, according to SquareMouth travel insurance.

We at the MarketWatch Guides team awarded Allianz Travel Insurance 4.1 out of 5 stars based on our provider review methodology. Named our pick for concierge services, Allianz offers 24/7 travel assistance through a multilingual team, which can help policyholders with travel and coverage issues while abroad.

By far, the most common and often most significant travel insurance claim is for medical emergencies. A sudden illness or injury during your trip can not only ruin your plans but also cause a severe financial strain.