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Overview
While travel insurance is a crucial investment, not everyone wants to spend a fortune on it. If you are a budget-conscious traveler looking to maximize your savings without compromising on coverage, this article is for you.
Even for someone on a budget, travel insurance remains a vital investment for several reasons. While it may seem tempting to cut costs by skipping insurance coverage, doing so could expose you to significant financial risks and ruin your travel experience.
Let’s explore the best options available for the cheapest travel insurance—so you can embark on your adventures worry-free without draining your budget.
Cheapest travel insurance companies
- Best for people with valuables: Travelex
- Best for solid protection without the hefty price tag: Faye
- Best for seniors and families: John Hancock
- Best for digital nomads: Seven Corners
- Best for budget-conscious travelers: Tin Leg
- Best for adventure and extreme sports enthusiasts: Arch RoamRight
- Best for quality medical coverage: GeoBlue
- Offers travel insurance only
- Best for: People with valuables
Travelex Insurance Services
Travelex Insurance Services is an ideal option for families and individuals carrying valuable belongings.
Our quick take
Their plans offer coverage for trip cancellation, baggage loss, travel delays, and medical emergencies. Additionally, Travelex offers optional upgrades like rental car damage protection and Cancel for Any Reason (CFAR) coverage, providing extra peace of mind for travelers with specific needs.
Key features
Coverage for trip cancellation, baggage loss, and travel delays
Optional upgrades for rental car protection and CFAR coverage
Specialized protection for families and valuable belongings
- Offers travel insurance only
- Best for: Solid protection without a hefty price tag
Faye Travel Insurance
Faye Travel Insurance offers affordable, no-nonsense coverage that keeps you protected on all fronts—your trip, your health, and your stuff—without breaking the bank.
Our quick take
You don’t have to choose between your budget and peace of mind. Transparent pricing, zero hidden fees, and coverage that’s there when you need it. It’s whole-trip travel insurance that just makes sense.
Key features
Affordable plans that cover the essentials
What you see is what you get—no hidden fees
Subscription-based service and a premium healthcare product
User friendly app
Global protection that keeps you covered in emergency medical scenarios
24/7 on-demand support, just a tap away
- Offers travel insurance only
- Best for: Seniors and families
John Hancock Insurance
John Hancock Insurance Agency, Inc. offers budget-friendly travel insurance plans suitable for seniors, families, and individuals alike.
Our quick take
Their plans include coverage for trip cancellations, trip interruptions, travel delays, baggage loss, and medical emergencies. With a variety of options to choose from, travelers can select the plan that best meets their unique needs. John Hancock Insurance Agency, Inc. also provides excellent customer service and 24/7 travel assistance.
Key features
Comprehensive coverage for trip cancellations, delays, and medical emergencies
Family-friendly options for budget-conscious travelers
Reliable customer service and 24/7 travel assistance
- Offers travel and cruise insurance
- Best for: Digital Nomads
Seven Corners Insurance
For those who travel frequently, Seven Corners Inc offers affordable annual travel insurance plans that can provide significant savings in the long run.
Our quick take
Their plans cover multiple trips throughout the year, making them an excellent choice for digital nomads, business travelers, or individuals who love exploring new destinations regularly. Their packages include medical coverage, trip cancellation/interruption benefits, emergency medical evacuation, and 24/7 travel assistance. Also, their travel insurance cancel for any reason coverage allows travelers to cancel their trip for any reason and receive up to 75% reimbursement of their trip costs.
Key features
Affordable annual travel insurance plans
Coverage for multiple trips within a year
Emergency medical evacuation and 24/7 travel assistance
- Offers travel insurance only
- Best for: Budget-conscious travelers
Tin Leg Insurance
Tin Leg stands out as one of the best affordable travel insurance options, offering excellent coverage at a reasonable price.
Our quick take
They provide three distinct plans, catering to different travel needs and budgets. Even their basic plan includes benefits like trip cancellation/interruption coverage, travel delay coverage, baggage delay coverage, and emergency medical expense coverage. For travelers looking for extra reassurance, Tin Leg also offers add-ons for adventure sports and increased medical limits. Also, their travel insurance cancel for any reason coverage allows travelers to cancel their trip for any reason and receive up to 75% reimbursement of their trip expenses.
Key features
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Multiple coverage options to suit various budgets
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Comprehensive coverage for trip cancellations, delays, and medical emergencies
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Optional add-ons for adventure sports and higher medical limits
- Offers travel insurance only
- Best for: Adventure and extreme sports enthusiasts
Arch RoamRight
With their specialized coverage, you can indulge in adrenaline-pumping experiences without worrying about potential mishaps.
Our quick take
Arch RoamRight is an excellent choice for adventure enthusiasts and thrill-seekers. They offer comprehensive coverage for a wide range of adventurous activities, including scuba diving, skydiving, bungee jumping, and more. Arch RoamRight also provides medical coverage, trip cancellation benefits, and 24/7 emergency assistance.Their CFAR coverage allows travelers to cancel their trip up to 48 hours before departure and receive up to 75% of their prepaid and non-refundable trip costs.
Key features
Specialized coverage for adventure sports and extreme activities
Medical coverage, trip cancellation benefits, and emergency assistance
Ideal for thrill-seekers looking for a budget-friendly insurance option
Free coverage for one child under 18 for every adult covered
Multi-trip/annual plans offered
- Offers travel insurance only
- Best for: High-quality medical coverage
GeoBlue Insurance
GeoBlue offers single-trip and multi-trip options, catering to the needs of various travelers.
Our quick take
GeoBlue is an excellent choice for international travelers who prioritize top-notch medical coverage. Their plans are designed specifically for travel outside your home country, providing access to a global network of doctors and hospitals. With their extensive medical coverage, you can travel confidently, knowing you have access to quality healthcare wherever you go.
Key features
Premium medical coverage for international travelers
Access to a global network of doctors and hospitals
Single-trip and multi-trip options available
by your friends at The Daily Navigator
