Travelex Travel Insurance Review 2024

Travelex offers travel insurance that protects you financially while traveling, if you fall ill or if your luggage is lost or damaged. Their insurance services cover expenses that a traditional insurance plan does not.

If you are injured or become ill abroad, your health insurance may cover reasonable medical expenses associated with your condition but not emergency evacuation back to the United States or other expenses related to an emergency abroad. Travel insurance takes care of things that traditional insurance does not.

Travelex refunds you if your luggage is delayed or lost in transit. Delayed baggage can dramatically affect your trip and travel insurance ensures you are paid quickly so you can use the funds to buy essentials and enjoy your vacation. Keep reading to know more about Travelex Insurance.

A Detailed Table on Travelex



Founded Year 



Currency Exchange, Prepaid Cards, International Payments, Travel Insurance, Online Forex Trading, and other financial services


Travelex operates in various countries globally, with a focus on currency exchange services at airports, banks, and retail locations. 

Notable Events

Travelex faced a cyber attack in late 2019, which led to disruptions in its services. The company worked on recovering from the incident.


Travelex was acquired by Finablr (previously known as UAE Exchange) in 2015.


London, United Kingdom

Overview of Travelex Travel Insurance

Travelex is a leading travel insurance provider offering plans to suit any trip. They’ve been protecting travelers for over 40 years and are trusted by over 50 million customers worldwide.

Their plans cover you for unexpected events like trip cancellations, medical emergencies, or lost baggage. 

You can choose between their Essential, Preferred, and Premier plans depending on how much coverage you need. Their most popular option is the Preferred plan which includes coverage for:

  • Trip cancelation (up to $10,000 per trip)
  • Emergency medical/dental (up to $50,000 per trip)
  • Baggage delay (up to $500 per trip)
  • 24-hour emergency travel assistance

Rates start around 5-10% of your trip cost. You can buy a policy on Travelex’s website or through select travel agents and tour operators. Claims are handled directly by Travelex and most eligible claims will be reimbursed within 10 to 15 business days.

With solid coverage, reasonable rates, and great customer service, Travelex travel insurance gives you peace of mind so you can sit back, relax, and enjoy your trip.

What are the Types of Insurance Plans in Travelex

Travelex offers three main types of travel insurance plans:

  • Basic: Covers trip cancellation, interruption, and medical emergency. Great for quick getaways.
  • Standard: Adds coverage for baggage loss or delay and accidental death. For most vacations.
  • Premium: Highest level with extras like 24-hour assistance and rental car damage. Ideal for adventurous trips.

To select a plan, think about your destination and activities. Heading to the beach? Basic should suffice. An African safari? Go Premier for full coverage. Compare each plan’s specific benefits and limits to determine what’s right for your needs and budget.

Travelex is a reputable company with strong financial backing, so you can book confidently knowing they’ve got you covered in case of the unexpected. Their customizable plans provide solid protection so you can relax and enjoy your travels.

Travelex Insurance Coverage Details

Travelex offers three travel insurance plans for domestic and international travel. Here are some key benefits included with Travelex travel insurance plans.

Trip Cancellation: Trip cancellation insurance reimburses you for prepaid, refundable trip expenses if you cancel the trip for any reason listed in your policy.

Trip delay: Once your trip is underway, trip delay insurance pays you for additional expenses you incur for the covered delay, such as meals and overnight hotel stays if you have an unexpected overnight layover. It can also reimburse you for money lost on prepayments if the delay delays your arrival at your destination.

Trip Interruption: This coverage can pay for a last-minute flight home and reimburse you for lost prepaid, refundable expenses if you need to cut your trip short for a covered reason, such as a death in the family.

Travel medical insurance: If you get sick or injured on your trip, travel medical insurance can pay for your emergency medical expenses, such as a doctor’s visit or hospital stay. This includes Travelex Covid insurance coverage if you, someone traveling with you, a family member, or a business partner tests positive before or during your trip.

Emergency Medical Evacuation: If you require transportation to the nearest adequate medical facility during your trip, Emergency Medical Evacuation Insurance pays for medevac expenses.

Baggage Insurance: This coverage reimburses you for the reduced value of your bags and belongings if they are lost, stolen, or damaged. Baggage delay coverage can also help if your bag arrives late. It can also reimburse you for small items while you wait for your luggage.

Travel Assistance Services: If you need medical or travel assistance, the emergency global support team is available around the clock.

Travelex Insurance Rates and Pricing

When comparing Travelex travel insurance plans, you’ll find they offer a range of rates depending on the level of coverage you choose. Their rates start around $30 per trip for basic coverage and go up from there for higher coverage limits and additional benefits. Usually, rates will be higher if:

  • You’re over 65 years of age.
  • You have a pre-existing medical condition.
  • You’re traveling internationally vs. domestically.
  • You opt for higher coverage limits, especially for medical and emergency evacuation. • You add on extra coverage like “Cancel for Any Reason” or “Adventure Sports Coverage”.

The good news is Travelex lets you customize a plan to your needs and budget. You can adjust coverage amounts and limits for things like trip cancelation, baggage loss, and medical expenses. They also offer affordable package rates if you insure multiple trips at once.

How to Choose the Right Travelex Insurance Plan

Choosing the right Travelex insurance plan for your needs depends on several factors. Think about where you’re going, how long you’ll be there, and what specific coverage you want. Travelex offers plans for every budget and trip.

Coverage Level

Do you want basic coverage in case of emergency medical care or trip cancellation? Or more comprehensive coverage including extras like lost baggage, sports equipment, or rental car damage? Travelex’s higher-tier plans offer the most protection but at a higher cost. For a short domestic trip, a basic plan should suffice. Longer, more complex trips warrant more coverage.


Domestic or international? Europe or an exotic destination? Plans for travel within the U.S. and Canada are more affordable. Worldwide plans cost more but cover you no matter where you go. Certain areas like Europe, Mexico, or the Caribbean may require specific regional plans. Check if your destination has any health or safety advisories to determine appropriate coverage.

Trip Length

For quick getaways under 2 weeks, a basic domestic or worldwide plan should do. Longer trips, especially those over a month, warrant more comprehensive “Travel America” or “Travel Select” plans to ensure you’re covered for any unforeseen circumstances that may arise.

Pre-Existing Conditions

If you have a chronic health condition, you’ll want a plan that covers pre-existing medical conditions and any emergency care related to your condition. Not all Travelex plans offer this coverage, so check the details of each plan carefully.

Is Travelex Legit Platform

Travelex is a reputable company that has been in business since 1976. They are a legitimate provider of travel insurance and assistance services. Travelex is headquartered in the UK and operates in over 28 countries, providing coverage for both domestic and international travel.

It is regulated and authorized to sell insurance in all 50 states. They have an A+ rating with the Better Business Bureau and most customer reviews report positive experiences with claims processing and customer service. The company is also a member of the US Travel Insurance Association, an organization that promotes ethical business practices and high standards for travel insurance providers.

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Final Thought

While travel insurance may seem like an unnecessary expense, for the peace of mind and financial protection it provides, Travelex policies are worth considering. Their plans offer solid coverage at affordable rates, and you can customize options to suit your own needs and budget. Thank you all for reading this article.

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