Travelex Insurance ReviewReviewAdviceFAQ's

Travelex Insurance Reviews

Advertiser Disclosure

For more information

Visit Site
  • Pros
  • Excellent BBB rating
  • Kids under 21 are covered for free
  • Travel Select has great customization options
  • Comprehensive mid-range plans
  • Great for family and business travel
  • Cons
  • Large group plans are limited

Travelex Insurance

Best Value Award 2016

Travelex is another travel insurance company with a number of interesting features and several plans to choose from to assist you in your travels including currency exchange, international payments and the ability to be able to sell back foreign currency that was not used on your trip. Everything is in one place for all your travel necessities, which is hard to find because many companies only provide one service then refer you to other companies for other services.

Quotes

Travelex provides a wide range of insurance plans to meet any situation's needs at great prices, whether you are traveling for business, schooling, family, or pleasure. Here is what a quote looks like: For example, if you are United States citizen, 26 years old, traveling from Florida anywhere in the world for a total of one week, and you estimated your trip is going to cost you roughly $5,000, the Travel Basic Plan's quote is $170.00, the Travel Select Plan's quote is $224.00, and the Travel Max Plan's quote is $348.00. Now all of these plan rates are the non-customized options so there for the more coverage you add to your plan the higher the cost, and if you decide to remove certain coverage because you know you won't need it, then of course the cost will go down.

Medical Coverage Details

Each plan includes primary medical coverage which is great for anyone who is not already covered by their health insurance. If you are unable to get permanent medical coverage because of underwriting, don't worry, this will not affect your ability to be covered by Travelex Medical Coverage. As long as you are medically fit to travel and are not going against doctors' orders you are eligible for Travelex Medical Coverage. On the other hand, even if you are covered by your health insurance, Travelex offers first payer coverage which allows you to receive payment from Travelex Medical Coverage before your HMO or PPO with no deductibles, making claims extremely easy to handle and compensation paid out as quickly as possible. Another reason to have Travelex Medical Coverage is that many HMO's and PPO's begin to get very exclusive when it comes to traveling mostly because you are traveling outside of your network. Medicare also works similarly causing much exclusion there as well when claims are made so before you think you are fully covered check your plans exclusions carefully or call your agent. Plus, plans come with the ability to upgrade if you would like additional coverage to equal exactly what your permanent medical insurance covers.

Customization Options

Other customization options include full coverage on cancelling your trip for any reason within 48 hours of departure, pet medical, rental car damage up to $35,000, missed tuition expenses, flight accident, trip delay and many more options. Also, say you're traveling internationally for the first time, or even if you're familiar with traveling internationally; Travelex provides great non-insurance services like international phone cards through Global Phone Corp. and what they call a "travel wallet". The international phone cards give you toll free, worldwide pre-paid calling to over 80 countries and easy recharging through your virtual card. With your travel wallet you can access travel currency at competitive rates with no fees, services as well as travel products. The travel wallet also gives you a 'Buy Back' envelope to get reimbursed for any currency you had not used during your trip.

Cancellations

Travelex makes cancellations extremely easy since you can cancel anytime within 10 days of purchase for a full refund, minus a small processing fee, as long as neither departure nor a claim has taken place. Planning a trip can be very stressful and changing details of the trips can happen a lot so Travelex also accepts changes in coverage, upgrades or downgrades, anytime as long as you have no departed.

Customer Service

When it comes to things you have questions about, customer service is available from 8:00am to 7:00pm and you are also able to email them directly anytime. They are very helpful in assisting with any questions and helping you find the best protection for your trip. The Travelex website is available 24/7 and you are able to directly change your coverage, file a claim, and request documents easily online.

Family Plans

The Travel Select plan is a great midrange plan to choose for families and individuals alike. One very convenient perk is that kids are covered for free on specific plans including the Travel Select and their Travel Lite plan. That doesn't just mean children 10 and under, when they say kids they mean age 21 and under as long as an adult family member is covered by one of these plans. This makes these two plans a great option for family trips. The upgrade options that it comes with also make it very customizable and flexible. You can choose the "Adventurer Plus Pak" upgrade for example, if you and/or your family does adventurous activities like bungee jumping or rock climbing. Although, Travelex offers great options for families, its options for larger groups, unfortunately are limited.

Company Ratings

Travelex Insurance is part of a large integration company that engages in foreign exchange trade. They have been in operation since 1976 and have gained an excellent reputation. Travelex is partnered with Transamerica as well as Old Republic Insurance Company which both are rated an A (Excellent) by A.M. Best Company which rates companies by financial strength, issuer credit, debt, and bank deposit. A.M. Best says Travelex provides "a superior ability to meet their ongoing insurance obligations".

Verdict - Superb

Travelex is an excellent choice for families, business travelers, individuals, international travelers and anyone looking for great midrange options. They provide affordable rates for travel assistance and coverage, and also include easy ways to get all around services for your trip in one place. Plus, the site is easy to use, very helpful, and comes with a quick quote tool. The customer service is outstanding and they make sure they assist you 100% through your travels. Also, the customization options are fantastic and useful for anyone insuring a trip.

Last Updated:

Travelex Insurance Consumer Reviews

Average Customer Rating

1 out of 10 rating 1 1 User Review

User Rating Distribution

Ratings: 10 - 9 0
Ratings: 8 - 7 0
Ratings: 6 - 5 0
Ratings: 4 - 3 0
Ratings: 2 - 1 1
1 out of 10 rating 1

This is a great policy if you are travelling with a young family like us, as children under 21 go free! That made it much cheaper for me and my husband and our two daughters who are 15 and 17. We did have to put a claim in, as unfortuantely teenage kids do tend to lose things! and the response time is 10-15 days which I think is a long time to wait, especially if it is due to an illness. If they shortened the response time Travelex would be perfect!

Show More

16 Great Money Saving Tips!

Cut expenses by $500+ a month. Download our FREE eBook today.

Download Now

Join our newsletter to receive the latest money saving advice, reviews, and offers!

YesI want to learn how to be a smart consumer!NoI'm not concerned about wasting money

100% privacy. We will never spam you.

Where should we mail you our
money saving advice, reviews & offers?

100% privacy. We will never spam you.

Adding your email to our mailing list.

Please wait just a moment

Your email has been added!

Thank you for signing up.

Close

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.