Travelex Insurance Services Review

Travelex Insurance Services provides a variety of customizable travel insurance solutions designed to suit all types of people, from business travelers to families taking their annual vacation.

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The Good

Wide range of policy options

Travelex Insurance Services offers four different policy plans, each with different levels of protection, and the ability to customize to meet your needs. If you’re looking for standard travel insurance, the Travel Basic plan may be a good fit. The Travel Select policy offers more comprehensive coverage, and is perfect both for the business traveler and for families.

Customize coverage with upgrades

Travelex enables you to customize your travel insurance policy with several customizable upgrades. Traveling with small children might make the Active Family Pak a worthwhile investment. It covers movie rentals for overnight delays and childcare cancellation, among other things. The Professional Pak adds coverage for work-related cancellations and equipment. If you’re planning on participating in adventure sports during your vacation, the Adventurer Plus Pak could be right for you. And, of course, there’s also the Cancel for Any Reason upgrade if you think an uncovered event might interfere with your trip.

Family-friendly plans

If you’re traveling with your family, you may want to look into getting a travel insurance policy like Travelex’s Travel Select plan. This policy provides higher travel and medical coverage you find in any of Travelex’s other travel insurance plans, but it also covers children under the age of 18 at no additional cost. Deals like this are hard to come by because many travel insurance companies require you to pay an extra premium to insure children. Like Travelex’s other policies, the Travel Select plan can be customized with different customizable upgrades to suit each family’s needs.

Fast and simple quote tool

Just enter your trip dates, age, state, and trip costs to receive quotes for all of Travelex’s travel insurance plans in a matter of seconds. The coverage information is listed in a table beneath the quotes so you can compare the different plans and see which is right for you. You can then email, print, or save your quotes to view later if you aren’t ready to purchase a policy quite yet. Editing your trip details is simple, too. You don’t have to reenter all the old information again; just make the changes you need and click on Get Quote.

Ideal for business travel

While Travelex no longer offers The Business Traveler plan that catered specifically to business travelers with additional coverage options like protection for business property, you can still get a lot of the same assurance through their existing plans. ‘Cancel for Business Reasons’ is now automatically included in Travel Basic and Select at no additional charge. Also, “protection for business property” would fall under our normal Baggage Loss, Damage, Delay coverage. Travel Basic and Select also offer higher medical coverage levels than the business traveler plan did.

The Bad

No plans for large groups

Travelex doesn’t offer travel insurance plans for groups larger than 10. Groups with more than 10 travelers must get multiple policies, so it might be in their best interest to choose a company like MH Ross that offers group policies. While this is something to be aware of, it won’t affect individuals or small groups, so it shouldn’t pose too much of a problem for most customers.

Cancel for Any Reason for select plans only

The Travel Select plan is the only plan that gives you the option of adding on Cancel for Any Reason coverage. It also only guarantees a 75% reimbursement for your trip costs. A few other plans give you an All Events upgrade option, which means you can cancel your trip for reasons beyond the covered events, but they must be unforeseen occurrences like work-related excuses or childbirth. Not everyone will be interested in this upgrade in the first place, but it’s important to know what you’re really getting before you purchase it.

The Details

Details

  • Maximum Age Insured: No age limit
  • Maximum Trip Cost: $50,000
  • Minimum Travel Delay Time: 5 hours
  • Travel Delay Compensation: Up to $750 total
  • Underwriter: Berkshire Hathaway Specialty Insurance and Old Republic Insurance Company

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