Travel insurance can be a valuable protection if your domestic or international trip doesn’t quite go to plan. But, after booking flights, hotels, rental cars and experiences, you probably don’t want to spend much more on your trip. Luckily, travel insurance isn’t a huge expense, and some companies offer surprisingly affordable rates to insure your trip. CNBC Select gathered data on dozens of the top travel insurance companies and found several that stand out for their strong coverage at low prices. Here are the best cheap travel insurance companies if you’re looking to cover your upcoming adventures. (See our methodology for more information on how we made this list.)
Best cheap travel insurance
Best overall
Berkshire Hathaway Travel Protection Learn More Cost The best way to estimate your costs is to request a quote
Policy highlights Berkshire 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 available Yes Pros Wide variety of policies available
Strong financial strength rating by AM Best Cons Cancel for any reason only provides reimbursement for up to 50% of non-refundable trip payments Learn More View More
Who’s this for? Berkshire Hathaway Travel Protection is ideal for those looking for strong coverage backed by a major insurer at a relatively affordable price point. Standout benefits: This company offers travel insurance that’s tailored to a variety of different modes of transportation and travel styles. It offers additional cancel for any reason (CFAR) coverage and rental car collision coverage [ Jump to more details ]
World Nomads Travel Insurance Learn More Cost The best way to estimate your costs is to request a quote
Policy highlights World 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 available Yes Pros Affordable coverage for many travelers
Coverage for adventure activities like scuba diving, bungee jumping and more Cons Lower trip cancellation limits than other travel insurance we reviewed Learn More View More
Who’s this for? World Nomads Travel Insurance is a good choice for travelers looking for affordable coverage. It’s an especially strong option for those planning on adventure activities like scuba diving which can be excluded from some other travel insurance plans. Standout benefits: This travel insurance offers coverage for stolen gear or belongings, and high coverage limits for emergency medical insurance compared to some of the other plans we reviewed. [ Jump to more details ]
Best for families
C&F Travel Insured International Travel Insurance Learn More Cost The best way to estimate your costs is to request a quote
Policy highlights Travel 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 available Yes Pros Cruise coverage available
Option to enhance your coverage with additional, optional coverages Cons CFAR not available to New York residents Learn More View More
Who’s this for? For families wanting to cover an upcoming trip or vacation, C&F Travel Insured International has two plans (in most states) that can help with everything from trip interruptions to missed tour or cruise connections. Standout benefits: C&F’s policies are particularly family-friendly since children aged 17 and younger can be included for no extra cost when on the same plan as a paid adult. It also offers robust evacuation benefits. [ Jump to more details ]
Best for cruises
Nationwide Travel Insurance Learn More Cost The best way to estimate your costs is to request a quote
Policy highlights Nationwide’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 available Yes Pros 10-day review period on cruise insurance policies to make sure the plan meets your needs (not available in NY or WA) Cons Most basic cruise plan doesn’t offer CFAR coverage Learn More View More
Who’s this for? Those embarking on a cruise will find enhanced, cruise-specific coverage from Nationwide. It offers three unique levels of cruise-specific coverage that can help with things like mechanical breakdowns, itinerary changes, and other on-ship disruptions. Standout benefits: Nationwide also offers single trip insurance and annual trip insurance plans for those planning other types of vacations. [ Jump to more details ]
More on our top cheap travel insurance companies
Berkshire Hathaway Travel Protection
Berkshire Hathaway offers specialized coverage for many different types of travelers, from adventure-focused travelers planning on sky diving or scuba diving to luxury travel coverage. This company also offers tailored coverage for road, air and cruise travel. Claims can be paid as quickly as the same day. CFAR coverage available? Yes 24/7 assistance? Yes [ Return to summary ]
World Nomads Travel Insurance
World Nomads offers travel insurance coverage backed by Nationwide. It offers a 10-day review (provided that no claims have been filed) to help you make sure your coverage is what you want. The company also offers the opportunity to buy coverage when already abroad. CFAR coverage available? No 24/7 assistance? Yes [ Return to summary ]
C&F Travel Insured International
C&F Travel Insured International has been offering travel insurance for 25 years. The company has a convenient mobile app for travelers for quick access to travel alerts and in-app claims. This travel insurance can be a good option for anyone booking with points or miles since plans offer up to $250 for penalty costs associated with returning points or miles to an account when a trip is canceled for a covered reason. CFAR coverage available? Yes 24/7 assistance? Yes [ Return to summary ]
Nationwide Travel Insurance
Nationwide’s travel insurance offers a variety of options for all types of travelers, including cruise travelers. It offers strong coverage for both interruption scenarios and medical situations. Customer service is available around the clock and around the world. CFAR coverage available? Yes 24/7 assistance? Yes [ Return to summary ]
FAQs What is travel insurance? Travel insurance is coverage designed to protect you while you’re miles away from home. It can cover everything from travel inconveniences like lost luggage to serious medical emergencies while abroad. What does travel insurance cover? Travel insurance can cover injuries and illnesses while abroad where your typical medical insurance won’t apply. It can also cover travel interruptions and delays, including lost luggage. While some credit cards offer travel insurance perks, a specific travel insurance policy could bolster that coverage. How much does travel insurance cost? Travel insurance generally costs about 4% to 10% of your trip’s total cost, according to travel insurance comparison site InsureMyTrip. Costs vary based on the age of the travelers, how long you’re traveling, and the types and limits of coverage. Is travel insurance worth it? While no one expects their trips to go awry, travel insurance can be a good backup for anything that does happen. Travel insurance is worth it because it can keep you from having to pick up the costs of medical bills or lost travel expenses if something goes wrong. Keep in mind though that several top travel credit cards offer certain travel insurance benefits so you may already have some coverage. What’s the best company for travel insurance? CNBC Select reviewed dozens of travel insurance companies and found that AXA Assistance USA Travel Insurance and Travel Guard Travel Insurance stand out for their strong coverage, variety of choices and financial strength.
Bottom line
Travel insurance can cover a variety of situations, from medical emergencies while abroad to lost luggage or delays. It generally costs between 5% and 10% of your trip’s total non-refundable expenses and can save you significant money if something doesn’t go to plan. However, it’s important to shop around as some companies offer cheaper rates than others. Also, remember that you may already have some form of coverage if you hold certain premium credit cards.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every travel insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of travel insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best cheap travel insurance.
Our methodology
To determine the best cheap travel insurance companies, CNBC Select analyzed dozens of U.S. travel insurance companies that come with a wide variety of policies and offer coverage for a number of situations. When narrowing down the best travel insurance companies, we focused on the coverage available, including the number of plans available, 24/7 assistance availability and cancel for any reason (CFAR) coverage availability. We also considered financial strength ratings from AM Best and Better Business Bureau ratings for customer satisfaction. To consider costs, we gathered quotes from the top travel insurance companies for four sample trips, which included: 1. A two-person trip to Mexico: $2,000 per person, $4,000 total
New York residents
Travelers aged 35 2. A two-person trip to the United Kingdom: $3,000 per person, $6,000 total
New York residents
Travelers aged 65 3. 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 4. 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. Note that the premiums and policy structures advertised for travel insurance companies are subject to fluctuate in accordance with the company’s policies. Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money. And follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Cheapest Travel Insurance Companies of September 2023
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