Best Travel Insurance Companies of February 2026

Who’s this for? Industry newcomer Faye offers an all-online experience, so it can keep rates low while not skimping on robust coverage and first-class customer service. Policies include $300 a day in trip delay coverage, the highest limit of any company we’ve reviewed.

Standout benefits: Faye has optional pet coverage, with up to $2,500 for unexpected in-trip veterinary expenses and $250 for boarding if your return trip is delayed.

Who’s this for? All AIG Travel Guard policies include free coverage for one child 17 or younger when accompanied by an insured adult.

Standout benefits: The Pack N’ Go Plan offers immediate coverage for spontaneous trips.

Who’s this for? USI Affinity’s InterMedical Insurance® plan covers emergency medical expenses of up to $150,000 for trips lasting between five and 364 days.

Standout benefit: The plan also offers around-the-clock assistance for medical referrals and translation services.

Who’s this for? In addition to four standard plans, American Express Travel Insurance offers a build-your-own policy with coverage for travel interruption, trip cancellation, medical expenses, lost/delayed baggage and car rentals.

Standout benefits: American Express Trip Cancel Guard reimburses up to 75% of nonrefundable flight costs up to 48 hours before departure.

Who’s this for? Allianz’s Cancel Anytime add-on reimburses up to 80% of nonrefundable trip costs. Most competitors only refund 50% to 75% of your expenses.

Standout benefits: The OneTrip Prime and Premier plans cover one child under 17 for free when accompanied by an insured adult.

Who’s this for? Berkshire Hathaway Travel Protection’s WaveCare plan can reimburse you up to $500 for missed connections and cruise delays.

Standout benefits: The WaveCare plan offers up to $75,000 in medical coverage, which can help with the high expenses of seeking out care if you get sick at sea.

Travel insurance reimburses a variety of prepaid, non-refundable costs. Here are a few types of coverage included in a standard travel insurance policy.

Trip cancellation

This coverage reimburses non-refundable airline tickets, hotel rooms, tours and other prepaid expenses. However, it only applies to trips cancelled for covered reasons, which typically include illness or injury, the death of a family member, job loss, deployment and severe weather.

Trip delay

Trip delay coverage pays for food, lodging and local transportation if you’re held up for a minimum amount of time, usually six or 12 hours. Covered reasons include severe weather, airline maintenance and civil unrest. There are caps, however, usually $100 to $300 per day and $500 to $1,500 per trip. 

Trip interruption

This covers nonrefundable expenses if you have to go home early for a covered reason. Some plans will reimburse up to 150% or 200% for your flight home and other arrangements.

Baggage delay

You can be reimbursed for repurchased toiletries, clothes and other essentials if your luggage is delayed for a certain amount of time, usually 6 or 12 hours.

Baggage loss

This pays out if your belongings are lost, damaged or stolen, even at the airport. And, it can have a higher benefit limit than what your airline will reimburse.

Emergency medical coverage

Your U.S. health care isn’t valid abroad, but this coverage could help pay for prescriptions, doctors’ fees and hospital bills if you have a medical emergency overseas. It can also pay for evacuation if you need to be taken to another location (or home) for care.

Pre-existing conditions waiver

Pre-existing conditions are not covered by travel insurance unless your provider offers a waiver. To qualify, you must buy your policy within 14 to 21 days of booking, insure 100% of your nonrefundable trip costs and be medically able to travel. (Some conditions, including pregnancy, dementia and substance misuse are not covered by a waiver.)

Cancel For Any Reason coverage

Many providers have cancel for any reason policies that allow you to abort your trip for any cause. Typically, you must cancel at least 48 hours before departure and you’ll only get 50% to 90% of your money back.

What travel insurance doesn’t cover

Standard travel insurance doesn’t cover losses due to negligence, illegal activities, known storms, announced epidemics, war or civil unrest. Many risky activities, like mountain climbing and skydiving, are also excluded unless you purchase add-on coverage.

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

Choose lower coverage limits: You can save by selecting lower coverage limits and higher deductibles. Just make sure you can afford the additional out-of-pocket costs if need be. 

Consider an annual plan: If you travel frequently, an annual plan is more cost-effective than a single-trip policy. There might be some limitations on coverage, however, so be sure to read the fine print.

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.

Get a family policy: If you’re traveling with family, it can be cheaper than individual policies for everyone. In addition, some providers cover children under 17 for free if they’re traveling with a covered adult.

Skip cancel for any reason coverage: 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: Your premium costs are directly related to how much you spend 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.

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 financial decisions. 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.