Travelex Travel Insurance Company Review

Shopping for travel insurance and seeing Travelex everywhere with their U.S. News “Best Overall” badge?

I understand the confusion.

Awards are great for marketing, but what you really need to know is whether this company will actually support you when you’re dealing with a medical emergency in Thailand or a cancelled cruise during hurricane season.

After working with dozens of insurance providers over my 15+ years as a senior travel planner, I’m giving you the complete picture of Travelex as a company – their strengths, weaknesses, and whether they deserve a spot on your shortlist.

About the Company

Travelex Insurance Services has been operating for over 25 years, establishing itself as a major player in the U.S. travel insurance market.

Based in Omaha, Nebraska, they’re part of the Cover-More Group, which is owned by Zurich Insurance.

This gives them international reach across Europe, India, China, Malaysia, Singapore, New Zealand, and Australia.

Here’s what matters most for your peace of mind: their policies are underwritten by Berkshire Hathaway Specialty Insurance Company, which carries an A++ rating from AM Best.

That’s Warren Buffett’s company – one of the most financially stable insurance entities on the planet.

Travelex operates as a direct-to-consumer provider, meaning you buy directly from them rather than through a broker or comparison site.

💡 Personal Note: In my experience, direct providers like Travelex often have better customer service for policy questions since you’re dealing directly with the source. However, you miss out on the comparison shopping convenience that brokers offer.

Customer Service and Claims Experience

This is where Travelex shows both its strengths and challenges.

They maintain 24/7 customer support through phone and their mobile app, providing assistance with document replacement, language interpretation, and emergency cash transfers.

The company offers a 21-day free look period, allowing you to cancel and receive a full refund if you haven’t departed or filed a claim.

However, customer feedback reveals a mixed picture.

While they have an A+ Better Business Bureau rating, their BBB customer reviews average only 1.5/5 stars – a significant disconnect that raises questions.

Trustpilot shows a more balanced 3.9/5 stars, with many customers praising their comprehensive coverage but noting concerns about claims processing speed.

❌ Avoid: Don’t expect lightning-fast claims processing with Travelex. Multiple customer reports indicate processing times of 15 business days or longer, with some claims taking months to resolve.

Coverage Philosophy and Approach

Travelex positions itself as a family-friendly provider with comprehensive coverage options.

Their standout philosophy centers on making travel insurance accessible for families by offering free coverage for children 17 and under on select plans.

The company focuses on primary medical coverage for international travel, meaning you don’t need to file with your domestic health insurance first.

They emphasize customization through optional add-ons rather than forcing customers into expensive comprehensive packages.

Their specialty plans include options for flight-only coverage, domestic travel, and post-departure medical coverage – showing flexibility in meeting different traveler needs.

Pricing Strategy

Travelex positions itself in the mid-range pricing category – not the cheapest option, but competitive for the coverage provided.

Their pricing structure rewards early purchase, with additional benefits available when bought within 15-21 days of initial trip deposit.

The company offers transparent pricing with no hidden deductibles on their trip protection policies.

Optional upgrades can significantly increase costs, but they’re clearly presented rather than bundled into expensive packages.

✅ Pro Tip: Travelex’s family pricing advantage can save substantial money for larger families. While individual coverage might cost more than budget competitors, the free kids coverage often makes them the most economical choice for families with multiple children.

Areas of Concern

Despite their industry recognition, Travelex faces several recurring customer service challenges.

BBB complaints frequently mention extended claim processing times and communication issues during the claims process.

Some customers report feeling misled by policy terms, particularly around trip definitions and coverage triggers.

The company only offers single-trip policies – no annual coverage for frequent travelers.

Their customer service response times can be lengthy, with some customers waiting over 10 minutes for phone support.

Ideal Customer Profile

Travelex works best for families taking international trips who want comprehensive coverage without complexity.

They’re particularly well-suited for first-time travel insurance buyers who prefer dealing directly with the provider.

The company excels for travelers taking expensive trips requiring substantial trip cancellation and medical evacuation coverage.

However, they’re not ideal for frequent business travelers needing annual policies or budget-conscious domestic travelers seeking basic protection.

Adventure travelers should carefully review their sports coverage options, as extensive activities require expensive upgrades.

ℹ️ Fun Fact: Travelex was among the first major providers to offer “kids fly free” style coverage for travel insurance. This innovation helped establish their family-friendly reputation and influenced other companies to adopt similar policies.

Pros and Cons

Alternatives to Consider

If Travelex doesn’t align with your needs, World Nomads offers better coverage for adventure travelers and younger demographics.

Allianz Travel Insurance provides annual policies for frequent travelers and often faster claims processing.

For families seeking even more budget-friendly options, Travel Guard might offer better value on shorter domestic trips.

User Feedback Summary

Customer reviews reveal a company that delivers on coverage promises but struggles with customer communication.

Positive feedback consistently mentions successful claim payments and comprehensive coverage options.

Negative reviews focus on slow response times, lengthy claims processing, and occasional policy interpretation disputes.

The disconnect between their BBB rating (A+) and customer review scores suggests strong business practices but room for improvement in customer experience.

Bottom Line

Travelex has earned their industry recognition through solid coverage options and strong financial backing.

Their family-friendly approach and comprehensive international coverage make them a legitimate contender for many travelers.

However, customer service inconsistencies and claims processing delays mean you need realistic expectations about their support timeline.

For families taking expensive international trips, their coverage and pricing often represent good value despite service limitations.

Just ensure you understand policy terms clearly and don’t expect rapid claims resolution.

Always review the full policy wording carefully before purchasing. Safe travels!

Ready to compare policies? You can check out current rates and coverage options here.