Everything You Need To Know Before Buying Travelex Insurance

Travelex Insurance Services, which is no longer associated with its namesake company, is nevertheless a leading travel insurance provider. Travelex offers four low-cost items for vacationers, mostly aboard flights.

Travelex Insurance Services? Are they ideal for your travel insurance? We researched and broke down coverage so you may choose the right overseas vacation.

About Travelex Insurance Services

Travelex Insurance Services, headquartered in Omaha, Nebraska, was started as the Mutual of Omaha travel insurance division. Travelex Group, a British money exchange company, bought the travel insurance provider in 1996 and renamed it. Travelex Insurance Services was sold to Australia’s leading travel, medical, and employer assistance provider, Cover-More Group, after 20 years.

Travelex Insurance Services, owned by the Cover-More Group and listed on the Australian Stock Exchange, sells travel insurance worldwide. The company offers flight-specific and comprehensive travel insurance.

How Is Travelex Insurance Services Rated?

Travelex Insurance Services’ policies are not covered by Mutual of Omaha, their former parent company. Berkshire Hathaway Specialty Insurance Company, formerly Stonewall Insurance Company, underwrites policies. A.M. Best Rating Services awards Berkshire Hathaway Specialty Insurance Company their highest rating, A++ Superior, with a stable outlook.

Berkshire Hathaway backs Travelex Insurance Services’ four main products, not Berkshire Hathaway Trip Protection. Both products have distinct perks, coverage levels, and terms.

Consumer Affairs and Squaremouth have rated Travelex Insurance Services highly for customer service. Travelex Insurance Services scored 4.5 stars from Consumer Affairs, with many customers expressing satisfaction with insurance agent responses and the claims process. With over 54,400 policies sold, Squaremouth users rate the insurer 4.45 stars out of five.

Both businesses received complaints about travel insurance prices and customer service for declined claims. Negative reviews claimed their plans did not cover some emergencies during vacations, while elderly travelers claimed they were charged more due to age.

What Travel Insurance Products Does Travelex Insurance Services Offer?

Travelex Insurance Services offers four travel insurance plans: two comprehensive and two flight-focused. All travel insurance plans offer a free 15-day look period with free cancellation if you have not departed on your trip or filed a claim, extra benefits for early purchase (including a pre-existing condition waiver), primary coverage for all travelers, and trip delay benefits. Each travel insurance package differs depending on your itinerary and activities.

Please note: All schedules of benefits are subject to change. For the most up-to-date coverage information, contact Travelex Insurance Services.

• Travelex Travel Basic:

Travelex Travel Basic, the cheapest travel insurance package, offers value and benefits. For covered cancellation or interruption reasons, this plan covers 100% of insured trip costs up to $10,000 per traveler or $200,000 per plan. If you cancel your trip for a covered reason and pay with points or miles, you may be eligible for a $200 frequent traveler incentive for redepositing fees.
This plan offers a $250-per-day trip delay benefit up to $500. The maximum lost baggage and personal effects value is $500, while baggage delay benefits are $100.

Medical coverage is $15,000, with $500 for emergency dental care. Emergency evacuation and returning a traveler’s remains are limited to $100,000. Traveling at least 100 miles from home qualifies you for these perks.

The pre-existing condition exclusion waiver, trip cancellation or interruption due to financial default, or job reasons may be available if you purchase within 15 days of your initial travel payment. Car rental collision and air common carrier accidental death and dismemberment are optional.

• Travelex Travel Select:

Travelex also offers Travelex Travel Select for longer trips, risky activities, or enhanced coverage. This trip insurance plan offers similar benefits to Travelex Travel Basic, but with larger limits and more alternatives.

This plan covers travel cancellation and interruption up to $50,000 and 150% of trip expenditures, respectively. This plan also covers up to $1,000 for return air if the original flight was under $700, $200 for license fees, and $200 for delayed sports or golf equipment.
Other travel situations have also improved. This package reimburses up to $250 per day for trip delays, $750 for missing connections, and $200 for delayed baggage. You might get $1,000 to replace lost bags or other personal goods.

Medical coverage has greater limits- Travelex Travel Select covers medical expenses up to $50,000 and emergency dental up to $500. Emergency removal and repatriation of remains is now up to $500,000. Purchase within 21 days of completing your initial trip payment to receive the pre-existing condition exclusion waiver and trip cancellation or interruption due to financial default. This plan does not cover work-related trip cancellations.

Cancel for Any Reason insurance and air common carrier Accidental Death and Dismemberment Insurance are optional. Add an adventurous sports coverage plan if you plan to rock climb.

• Travelex Flight Insure:

Flight Insure covers just flight-related issues, unlike other Travelex travel insurance policies. Flight Insure, the cheaper plan, offers $300,000, $500,000, or $1 million in Accidental Death and Dismemberment coverage on common carriers.

This travel insurance plan covers trip delay and travel assistance up to $100. Although the coverage is low compared to credit cards, it is a main insurance product that pays out before other insurance does.

• Travelex Flight Insure Plus:

Flight Insure Plus provides more coverage than Flight Insure. Again, while flying a common carrier, choose $300,000, $500,000, or $1 million Accidental Death and Dismemberment coverage.

Flight Insure Plus provides far more coverage than standard insurance. This coverage includes up to $100 in trip delay coverage, $1,000 in baggage and personal effects coverage, $500 in baggage delay coverage, $10,000 in emergency medical coverage with a $500 dental sublimit, and $100,000 in emergency medical evacuation and repatriation.

This plan provides medical insurance but does not exempt pre-existing conditions for early purchase. Instead, the plan has a 180-day pre-existing condition look-back period, so medical issues that occur after your trip may not be covered.
Like Travelex Flight Insurance, this is main insurance. Thus, depending on your condition, this plan may apply before other insurance policies.

What Won’t Travelex Insurance Cover?

Travelex Insurance Services programs, like all insurance plans, have many coverage limitations. Your travel insurance may be denied if your scenario falls into one of these categories.

• Intentionally self-inflicted injury: If you or someone on your plan has a mental, nervous, or psychological disorder and attempts to self-harm, your travel insurance will not cover it. If you are concerned about this, you should develop a safety plan and determine whether a trip is possible.
  
• Participation in professional-level athletic events or motorsports: If you are a professional-level athlete, you should already know that a basic travel insurance plan will not cover any injuries from competition.
• Mountain climbing: A basic plan may not cover the trip if you require pick-axes, anchors, bolts, crampons, carabineers, or other specific equipment to climb a mountain. If you wish to climb mountains, consider adding an adventure activity add-on to your insurance policy.
  
• Normal pregnancy or childbirth: Normal pregnancy or childbirth abroad is not covered by Travelex Insurance Services coverage, as it is with other travel insurance policies. Unexpected pregnancy problems, on the other hand, may be covered in specific situations.
  
• Injuries as a result of drug or alcohol influence: Every year, more tourists die as a result of unintentional alcohol and drug overdoses than shark attacks. This plan may not cover you if you are harmed as a result of drinking or using drugs.
  
• Travel taken against the advice of doctors: If your doctor recommends you not to travel, you should probably stay at home. If you travel nevertheless, travel insurance may be ineffective. If it is discovered that you traveled against the recommendation of a doctor, your claim may be denied.
• Participation in civil disorder: There are more effective methods to assist while overseas than engaging in a rally or other civic unrest. If you are injured or killed as a result of a civil disturbance or an act of war, your claim may be denied.
• Medical tourism: Although many tourists depart the United States in search of reduced operating expenses, insurance companies face a severe gray area. While some health insurers may cover medical tourism operations, Travelex Insurance Services does not cover medical tourism-related injuries.

How do I File a claim With Travelex Insurance?

How you file a Travelex Insurance Services claim depends on where you bought it. Visit Travelex Insurance Services and enter your plan number to start most claims for the plans mentioned. Travelex Policies, Descriptions, and Confirmations contain this information.

Others must be downloaded and mailed in. Contact Travelex Insurance Services at 1-800-228-9792 for claim processing questions.

Who Is Travelex Insurance Best for?

Travelex Insurance Services offers four plans with different coverage levels, so consider your vacation and activities before buying a plan. Based on our research, Travelex Insurance Services’ Travelex Travel Select offers the greatest coverage and add-ons. Travelex Travel Select offers a blend of medical and service-based coverage for lengthy or expensive trips, especially to regions where medical treatment may not be immediately available.

Before buying more Travelex Insurance Services plans, check your coverage levels. Two plans cover flights solely, and the Travelex Travel Basic plan has low trip delay and luggage delay restrictions. Credit card or other policies may offer extra coverage without an additional purchase.