Here’s what you need to know about travel insurance in 2023 

Common types of travel insurance
Accidental death insurance Travel isn’t without risks. The risk factor varies depending on what activities you plan. Activities such as mountain climbing are more likely to go awry. This policy covers you and your family should things go wrong during your trip.
Baggage insurance Baggage insurance has two broad categories: baggage loss and baggage delay. If you retrieve your lost luggage but have missing items, baggage loss coverage will reimburse you for any lost possessions within a specific per-item limit. Your homeowners policy should cover any valuables that you have lost.
Baggage delay insurance Baggage delay coverage will reimburse you for immediate necessities like a toothbrush, toiletries, change of clothes, etc., for each day you didn’t have your belongings.
Medical insurance Travel medical or health insurance reimburses you for emergency medical expenses, including evacuations. If you break your arm on vacation, this coverage will protect you. However, you will not be covered if you decide on getting your teeth cleaned while abroad.
Emergency evacuation insurance Medical evacuation is often included in travel insurance or sold alongside travel medical expense insurance. This type of insurance generally covers medical transportation, such as an ambulance ride or air evacuation services to the nearest medical facility. Some plans also cover the cost of a flight back home or book travel arrangements so you can return sooner.
Rental car insurance If you decide to rent a car during your trip, you could be held responsible financially if you’re in an accident and don’t have your own car insurance.

You can buy additional insurance from the rental car company using your credit card or get a standalone policy through a third party.

Trip cancellation insurance You can purchase trip cancellation coverage as part of a comprehensive travel policy or receive it for free when you hold certain premium credit cards. This benefit covers abrupt or unavoidable cancellations of prepaid, non-refundable reservations, including flights and hotel bookings.
Cancel for any reason insurance (CFAR) CFAR is supplemental coverage for partial reimbursement when you cancel a non-refundable trip for any reason your travel insurance doesn’t cover. It is an optional upgrade to your primary travel policy. This plan is not eligible with every plan, and only a few insurers provide this service.
Trip interruption insurance If you miss a portion of your trip due to any covered reasons, trip interruption benefits can reimburse you for any unused, prepaid, non-refundable travel expenses, such as hotel or excursion bookings. It may also reimburse you for booking a new flight home, additional hotel stays, or airport taxi fare.

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Frequently Asked Questions

  • How can I get travel insurance?

    There are three ways to get a travel insurance policy:

    • Purchasing a travel insurance policy: Many companies sell standalone travel insurance in varying lengths. It can cover an individual or an entire family. You can get basic coverage or opt for comprehensive coverage.
    • Add-on coverage when booking a trip: Some companies offer the option of getting insurance while booking a trip. They usually cover only a specific reservation, so it’s ideal to purchase it when going for financially large travels.
    • Access via travel card benefits: You can also get travel cover from travel cards. Many include protection that covers varying issues, such as issues with your flight, bags and other aspects of your trip.
  • Will my travel insurance cover my camera and equipment

    You can purchase a camera insurance policy along with travel insurance if you’re worried about potential damage to your camera gear. A camera insurance policy will protect you during your trip and when you’re at home as well. But make sure to review your existing travel insurance policy before you purchase a camera insurance policy. Comprehensive travel coverage should cover most travel concerns, which can save you spending extra out of pocket.

  • Where can I get the best travel insurance?

    Here’s our list of insurance companies that offer the best travel insurance in 2023:

    • Allianz Global Assistance: We recommend Allianz travel insurance for economical travelers looking to add on cheap rental car protection.
    • Travel Guard by AIG: AIG travel insurance is well-suited for travelers with preexisting medical conditions.
    • Seven Corners: You can get robust upgrade options and benefits on Seven Corners’ Roundtrip Choice plan.
    • World Nomads: World Nomads offers great plans for thrill seekers and covers 200+ adventurous activities.
    • AAA: AAA’s travel insurance is ideal for anyone looking for coverage, and you don’t have to be an AAA member to buy a policy.


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