Best Cheap Travel Insurance Companies of 2025

Who’s this for? Faye’s trip delay coverage limit is up to $300 a day and $4,500 per trip, the most generous of the companies we’ve reviewed.

Standout benefits: Faye’s trip inconvenience benefit covers $200 per incident and up to $600 per trip for airport security delays, late hotel arrivals, lockouts at rental properties and more.

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Who’s this for? AIG Travel Guard is a great option if you want customizable coverage, with upgrade “bundles” that cover rental vehicles, weddings, adventure travel and increased limits for medical coverage, baggage and more

Standout benefits: Travel Guard’s Preferred plan has an optional medical bundle upgrade that increases medical coverage to $100,000 and emergency evacuation benefit to $1 million. You can even select the hospital of your choice.

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Who’s this for? Berkshire Hathaway Travel Protection is ideal if you’re worried about waiting to get reimbursed: It boasts a claims process that’s five times faster than the competition, with same-day compensation available in some cases.

Standout benefits: The basic ExactCare value plan includes $35,000 in car rental collision coverage.

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Who’s this for? Crossing off a bucket list adventure? World Nomads Travel Insurance’s Explorer Plan includes coverage for more than 300 sports and experiences, as well as missed connections and an optional Cancel For Any Reason benefit.

Standout benefits: If you wipe out on the slope, World Nomads’ Standard plan has a generous $300,000 limit for emergency evacuation. The Explorer plan bumps that up to $500,000.

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Who’s this for? If you’re taking the whole family, Travel Insured International’s Worldwide Trip Protector Platinum and Deluxe plans include free coverage for one child 17 or younger with every insured adult.

Standout benefits: Job loss is a covered reason for cancellation/interruption on all plans.

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Who’s this for? Nationwide has three tiers of cruise-specific coverage that can reimburse you in case of itinerary changes, missed connections, mechanical breakdowns or other disruptions.

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

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Travel insurance reimburses costs associated with a variety of covered events, including:

Trip cancellation: This reimburses airline tickets, hotel rooms and other nonrefundable expenses if your trip is canceled for a covered reason, like an illness or injury, the death of a family member or a job loss.

Trip interruption: If you have to go home early for a covered reason, this benefit reimburses nonrefundable expenses. Some plans will cover as much as 150 or 200% of your costs to pay for a new flight home and other additional travel arrangements.

Trip delay: This coverage pays for food, accommodations and 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, usually $100-$300 per day and $500-$1,500 per trip. 

Baggage delay: Your policy should cover 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 a travel insurance policy 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: Your U.S. health insurance likely isn’t valid abroad but travel insurance should cover doctors’ fees and hospital bills. It can also pay for evacuation or repatriation if your condition requires you to return home.

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

• 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.
• 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.
• 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.
• Get a family policy: A group policy can be cheaper than individual plans. In addition, some providers cover children under 17 for free if they’re traveling with a covered adult/
• 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. 

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 insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of travel insurance products. 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.