Travelex Travel Insurance Plans – Compare & Buy (2024)

FAQs

Is Travelex good travel insurance? ›

While Travelex doesn't offer the most inclusive plans, its affordable coverage will give sufficient protection for most travelers.

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.

Top 7 Cheapest Travel Insurance Companies (September 2024) The cheapest travel insurance companies are Nationwide, Trawick and Travelex. According to our research, Nationwide's average policy cost is $175 and Trawick and Travelex's are $212, each under the industry average of $221.

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.

The more costly your trip, the more your provider will need to reimburse you for a valid claim, which increases the cost of your policy. In addition, plan costs will generally increase with age, as younger travelers may be less likely to file a claim than senior travelers based on overall health.

Travel insurance rates through most providers fall between 4% and 8% of the total trip cost. Like the cost of flights, cruises, etc., rates may vary substantially based on the season, your original location, your destination, and other factors. This week, the average cost of a policy was close to $300.

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).

How will my order be sent and is it secure? Your order will be sent using secure Royal Mail Special Delivery and will require a signature upon delivery. Travelex Money cards are sent separately by First Class post and you will need to call us on the number provided with the card to activate it.

Why use Travelex? ›

Pros of Travelling with a Travel Card

The Travelex Money Card lets you load up to 10 different currencies, making travelling to different destinations in the one trip easier, plus easily manage your travel money on the go with the Travelex Travel Money App.

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.

Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.

It's smart to buy travel insurance immediately after booking for two reasons. One: You won't forget! Far too many travelers postpone buying travel insurance and then realize, too late, that they forgot to buy it at all. And two: The earlier you buy insurance, the bigger your coverage window.

Travelex has better online rates than your bank so you can lock in a good initial loading rate and save. Plus they don't charge you ATM fees while you're overseas. Unfortunately, all of these conveniences comes with a high price tag.

You can't get a Travelex card in the US – but you can access a Mastercard multi-currency Cash Passport. You can use your multi-currency Cash Passport to: Move between up to 10 different currencies.

Corporate Relationships: The App is distributed by Travelex Insurance Services Inc. part of the Cover-More Group, which is a wholly owned subsidiary of the Zurich Insurance Company. World Travel Protection Canada Inc. is a wholly owned subsidiary of the Zurich Insurance Company.