Best travel insurance companies of May 2025

Whether you're taking a family vacation or a romantic cruise, travel insurance can be a lifesaver if the unexpected happens — whether that's a delay, lost luggage or a medical emergency.

CNBC Select reviewed the top U.S. travel insurance companies to pick the best, based on coverage options, customization, cost and more. (Read our methodology to learn more about how we made our choices.)

Who's this for?Faye covers trip delays for up to $300 a day and $4,500 per trip standard, the most generous limits of the companies we've reviewed.

Standout benefits: Faye has optional pet care coverage, offering up to $2,500 reimbursement for unexpected in-trip veterinary expenses and $250 for boarding if your return trip is delayed or canceled.

More on Faye travel insurance

Who's this for? All AIG Travel Guard policies include free coverage for one child 17 or younger when accompanied by an insured adult.

Standout benefits: The Pack N' Go Plan offers immediate coverage for spontaneous trips.

More on AIG Travel Guard

Who's this for?USI Affinity's InterMedical Insurance® plan combines medical and evacuation coverage and will cover any number of trips in a year, up to 90 days each. Premiums start at $1.35 a day, with three coverage limits and four deductible options.

Standout benefits: The window to be covered by USI Affinity's pre-existing conditions waiver is 21 days, longer than most competitors.

More on USI Affinity

Who's this for? AXA Assistance USA's Platinum plan reimburses $500 per item for lost luggage and a maximum payout of $3,000, higher than many competitors.

Standout benefits: The basic Silver plan includes a generous $25,000 limit for emergency medical coverage and $100,000 for medical evacuation.

More on AXA Assistance USA

Who's this for? In addition to four standard plans,American Express Travel Insuranceoffers a build-your-own policy with coverage for travel interruption, trip cancellation, medical expenses, lost/delayed baggage and car rentals.

Standout benefits: AmEx's Trip Cancel Guard reimburses up to 75% of nonrefundable flight costs up to 48 hours before departure.

More on American Express Travel Insurance

Who's this for?Allianz's Cancel Anytime add-on reimburses up to 80% of nonrefundable trip costs. Most competitors only refund 50% to 75% of your expenses.

Standout benefits: The OneTrip Prime and Premier plans cover one child under 17 for free.

More on Allianz Travel

Who's this for?Nationwide offers three cruise-specific policies with a 10-day review period and coverage for missed connections, itinerary changes, mechanical breakdowns and other disruptions.

Standout benefits: Nationwide's basic Universal Cruise plan includes $75,000 in medical coverage and $250,00 for emergency evacuations.

More on Nationwide travel insurance

Who's this for?Berkshire Hathaway’s LuxuryCare plan covers trips costing up to $100,000 per person, with high limits for trip interruption and medical expenses.

Standout features: Berkshire Hathaway is known for its speedy claims processing, with compensation available the same day in some cases.

More on Berkshire Hathaway Travel Protection

Travel insurance reimburses a variety of prepaid costs, including:

Trip cancellation: Reimburses airline tickets, hotel rooms, tours and other prepaid, nonrefundable expenses if your trip is canceled for a covered reason, usually including illness or injury, the death of a family member, job loss, deployment and severe weather

Trip delay:  Pays for food, lodging and local transportation if your trip is delayed for a minimum amount of time, usually 6 or 12 hours. Covered reasons include severe weather, airline maintenance and civil unrest. There are caps on coverage, usually from $100 to $300 per day and between $500 and $1,500 per trip. 

Trip interruption: If you have to go home early for a covered reason, your nonrefundable expenses are covered. Some plans will reimburse as much as 150% or 200% to pay for your flight home and other additional travel arrangements.

Baggage delay: This benefit covers toiletries, clothes and other essentials you need to buy if your luggage is delayed for a certain amount of time, usually 6 or 12 hours.

Baggage loss: Airlines have to compensate passengers for lost luggage, but travel insurance can have a higher benefit limit. It can also provide coverage if your belongings are lost, damaged or stolen once you've gotten to your destination.

Emergency medical coverage and evacuation: U.S. health insurance isn't valid abroad but your travel insurance policy should cover prescriptions, doctors' fees and hospital bills. It can also pay for evacuation or repatriation if your condition requires you to return home.

Every company has different exclusions, but standard travel insurance doesn't cover losses due to negligence, illegal activities, known storms, announced epidemics, war or civil unrest.

Many risky activities, like mountain climbing and skydiving, are also excluded unless you purchase add-on coverage.

Pre-existing medical conditions are not covered by travel insurance unless your provider offers a waiver for pre-existing conditions. To qualify for a waiver, you must buy your policy within 14-21 days of booking, insure 100% of your nonrefundable trip costs and be medically able to travel. Some conditions, including pregnancy, mental illness, dementia and substance abuse issues, are not covered by a waiver.

While all providers have limits on eligible reasons for cancellation or delays, many have optional Cancel For Any Reason policies that allow you to call off your plans for any cause. Typically, you must cancel at least 48 hours before departure and you'll only get 50% to 75% of your nonrefundable costs back.

A travel insurance policy can cost between 4 and 10% of the overall price of your trip, although the exact amount depends on your age, the coverage limits you select and any optional add-ons you've chosen.

In addition, a plan with a Cancel For Any Reason Benefit can add 40% to the cost.

Travel insurance costs are generally stable, but there are some ways to save:

Choose lower coverage limits: You can save by selecting lower coverage limits and higher deductibles. Just make sure you can afford the additional out-of-pocket costs if need be. 

Consider an annual plan: If you travel frequently,an annual plan is more cost-effective than single-trip policies. There might be some limitations on coverage, however, so be sure to read the fine print.

Check for existing coverage: Your credit card or homeowner's insurance policies may provide some basic protections while you travel. An insurance policy can still help fill any gaps, however.

Get a family policy: If you're traveling with family, it can be cheaper than individual policies for everyone. In addition, some providers cover children under 17 for free if they're traveling with a covered adult.

Skip Cancel for Any Reason: While a CFAR upgrade can allow you to be reimbursed for reasons not covered by your policy, it can also add another 40% to your premium. 

Avoid popular travel times: The cost of your premiums is directly related to how much you're spending on your trip. If you schedule a vacation during the high season, your airfare, hotel and other costs will be higher — and so will your policy.

Compare plans: Getting price quotes from several providers is also a good way to save money. Make sure you request the same amount of coverage from each and look for any limitations or exclusions. 

Faye is an online provider with an intuitive website and mobile app offering an all-digital claims process and real-time travel alerts. It only offers one plan, but add-ons include coverage for adventure sports, pets and damage to vacation rentals.

Cancel For Any Reason: Up to 75% reimbursement of nonrefundable trip costs if purchased within 14 days of initial trip deposit.

Pre-existing condition waiver:Available if policy is purchased within 14 days of initial trip deposit.

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In addition to single-trip and annual policies, AIG Travel Guard has a Pack N' Go plan for same-day travel. Add-ons include coverage for rental vehicles, pets, adventure sports and wedding cancellations.

Cancel For Any Reason: Add-on to Preferred and Deluxe plans that covers 50% of trip costs if purchased within 15 days of initial deposit.

Pre-existing condition waiver: Available with any plan purchased within 15 days of initial trip deposit.

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USI Affinity offers single- and multi-trip policies, as well as cruise insurance, travel medical coverage and plans for students, groups and international travelers visiting the U.S.

Cancel For Any Reason: Optional add-on that refunds 70% of trip costs if purchased within 14 days of booking (21 days for the Plus plan). 

Pre-existing condition waiver: Available with any plan purchased within 14 days of initial trip deposit (21 days for the Plus plan).

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AXA Assistance USA has three tiers of travel insurance, with add-ons covering rental car collisions, sports equipment rentals, lost ski days and golf rounds.

Cancel For Any Reason: Add-on with Platinum plan that reimburses 75% of nonrefundable trip costs if you purchase within 14 days of booking

Pre-existing condition waiver: Available with Gold and Platinum plans if purchased within 14 days of trip deposit.

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You don't need to be a card member to buy American Express Travel Insurance, available in Basic, Silver, Gold and Platinum plans. While there's no Cancel For Any Reason benefit, Trip Cancel Guard can reimburse up to 75% of a nonrefundable flight.

Cancel For Any Reason: Not offered

Pre-existing condition waiver: Available if policy is purchased within 14 days of initial trip deposit.

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Allianz offers single-trip and annual policies and standalone coverage for travel medical insurance and rental car protection. OneTrip Prime and Premier plans cover one child 17 or younger when accompanying an insured adult.

Cancel For Any Reason: Cancel Anytimeadd-on to OneTrip Premier allows you to cancel for nearly any reason up to the day of departure and get 80% of nonrefundable trip costs back (up to $16,000).

Pre-existing condition waiver: Included with policies purchased within 14 days of initial deposit.

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Nationwide offers single- and multi-trip policies and cruise insurance. All plans include a Cancel For Work Reasons benefit that reimburses 100% of nonrefundable costs if your PTO is revoked, you're transferred or you're involved in a merger, acquisition or bankruptcy proceedings.

Cancel For Any Reason: Add-on to Prime plan that refunds 75% of nonrefundable costs if purchased within 21 days of booking. Not available in New York or Washington.

Pre-existing condition waiver: Available if you purchase your plan within 21 days of your initial trip deposit. (10 days with basic Essential plan and 14 days for cruise insurance.)

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Berkshire Hathaway offers three tiers of coverage plus flight insurance and specialty coverage for luxury travel, adventure travel, cruises and road trips.

Cancel For Any Reason: Add-on to LuxuryCare plan that reimburses 50% of nonrefundable trip costs if purchased within 15 days of booking

Pre-existing condition waiver: Available with any plan if purchased within 14 days of initial trip deposit.

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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 insurancereview is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of travel insuranceproducts. 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.

CNBC Select analyzed more than 20 U.S. travel insurance companies, focusing on plan types, coverage options, add-ons and cost, as well as the availability of a Cancel For Any Reason benefit and a waiver for pre-existing conditions.

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

Our recommendations have been organized by the best for trip delays, lost baggage, families, customization, trip cancellation, medical emergencies, cruises and luxury travel.

Premiums and policy structures cited for individual travel insurance companies fluctuate according to company policy.

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