Travelex Travel Insurance Review


Rating: 9.4 / 10 (Excellent)
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With over 40 years of industry experience, 1,500 stores, and 1,250 ATMs in 28 countries, Travelex is the largest non-bank foreign exchange broker in the world. The London-based company services approximately 37 million customers a year, providing currency exchange as well as travel-related products and services—including a wide array of travel insurance options—for both businesses and individuals.

How is Travelex rated?

Breakdown

10/10
Plans & Coverage
10/10
Customer Assistance Services
8/10
Financial Strength
10/10
Reputation

Overall Rating: 9.4 / 10 (Excellent)

Backed by their vast industry experience and outstanding reputation for delivering quality 24/7 customer support, Travelex is a leading provider of comprehensive travel insurance policies and related services. This company scores highly with us for having high customer service ratings, a minimal number of complaints, and some of the most comprehensive travel insurance policies available. Although their financial reputation has taken a few hard blows in recent years, Travelex remains a trusted insurance provider offering products from financially sound underwriters such as Berkshire Hathaway, Transamerica, and Old Republic. Travelers looking for superior customer support through every stage of their trip and fully customizable coverages are sure to find Travelex an option worth considering.

Travelex Plans & Coverage

Plans & Coverage - 10 / 10

Travelex offers four levels of customizable travel protection through their Travel Select, Travel Basic, Flight Insure, and Flight Insure Plus plans. The Basic plan automatically includes a pre-existing exclusion waiver, financial default coverage, a "cancel for business reasons" benefit, and free coverage for children under 17, if you purchase the plan within 15 days of the initial trip deposit. Their Travel Select plan, on the other hand, provides comprehensive protection with a "cancel for any reason" benefit, additional sports and medical coverage, car rental collision coverage, and even an air accidental death and dismemberment coverage.

For those wanting added security and reassurance during long-distance flights, Travelex extends two types of flight insurance plans that are flexible, affordable, and protect against common mishaps like travel delays and in-flight accidents. The company used to offer an additional plan marketed under the name Travel Max which featured medical coverage for traveling pets, but it's unclear if this product has been discontinued.
Available Plans
Comprehensive
Trip Cancelation/ Interruption
Medical
Baggage
Accidental Death
Trip Cancellation/Interruption Coverage
Injury/Illness/Death of Traveller
Injury/Illness/Death of Non Traveling Family Member
Natural Disaster at Destination
Tour Operator/Airline/Cruise Line Ceases Operation
Terrorism/Evacuation at Destination
Victim of Crime Prior to Trip
Theft of Passport Prior to Trip
Cfar Coverage (Cancel for Any Reason)
Medical Coverage
Doctor, Hospital, or Other Licensed Provider
Dental
Emergency Medical Evacuation/Repatriation
Transport Family Member to Bedside
Transport Children Home
Baggage Coverage
Lost/Damaged/Stolen
Baggage Delay Coverage

Medical Coverage Details

Pre-Existing Coverage
Maximum Medical Reimbursement
$50,000
Maximum Medical Evacuation Reimbursement
$500,000
Deductible for Medical Coverage

Baggage Coverage Details

Maximum Baggage Reimbursement
$1,000
Maximum Baggage Reimbursement
$1,000
Receipts Required for Valuable items

Travelex Financial Strength

Financial Strength - 7.5 / 10

Travelex has received B-ratings and negative outlooks from both Moody's and Standard & Poors, which reveal the company is still able to meet its financial obligations but is likely exposed to considerable "uncertainties." According to a statement published on S&P Global's website, the CFR downgrade for Travelex Holdings is directly related to increasingly adverse external conditions including a drop in the company's outsourcing volume and wholesale banknote demand in certain regions, as well as terrorism in the European continent. Nevertheless, Travelex remains resolute in their efforts to strengthen the insurance segment of their business through the creation of partnerships with A-rated underwriters like Berkshire Hathaway, Transamerica, and Old Republic.
Underwriter
Berkshire Hathaway, Transamerica, and Old Republic
Standard & Poor's Financial Rating
B-
Moody's Financial Rating
B3

Travelex Reputation

Reputation - 9.5 / 10

Travelex has been accredited by the Better Business Bureau since 2012 and maintains an A+ rating with the organization based on only 17, mostly negative, customer reviews. Contrastingly, the company has received over 70% favorable customer reviews on Truspilot.com, where they hold an 8.8 out of 10 (Great) TrustScore. Further evidencing the company's reputability are its memberships to the American Society of Travel Agents ad the US Travel Insurance Association.
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Trust Pilot Rating
8.8 out of 10
Date Collected
2018-01-15

Travelex Customer Assistance Services

Customer Assistance Services - 10 / 10

Travelex's Travel Max Deluxe Travel Protection Plan offers 24/7 assistance before and during trips as well as concierge services that include "nurse assist," help with medical emergencies, lost documents or baggage, ticketing services, business services, and more. The company has also developed a mobile application for iOS and Android phones that allows clients to initiate claims and upload related documentation quickly and easily. Those wanting further plan and benefits details can request a free, no-obligation quote on Travelex's website.
24/7 Support
Mobile App

Travel Assistance Services

  • Lost Baggage Search
  • Lost Passport/Document Assistance
  • Emergency Cash
  • Translation Services
  • Up to the Minute Travel Advisories
  • Legal Assistance

Medical Assistance Services

  • Physician Referral
  • Medical Case Management
  • Arrange Medical Payment
  • Emergency Prescription Replacement
  • Update Family at Home
Display Less
2 More

Concierge Assistance Services

  • Restaurant/Event Referral and Reservation
  • Weather Advisories
  • Wireless Device Assistance
  • Gift Delivery
Display Less
1 More

Homepage URL
Company Phone
(800) 228-9792
Headquarters Address
9140 West Dodge Road, Suite 300, Omaha, NE, 68114

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Customer Comments & Reviews

Loading Reviews ...
J
Jacqueline Y
Milwaukee, Wisconsin
2/5/2018
Could you confirm we have travel insurance? Primary traveler is Jacqueline Yockey and confirmation is TTB482470. Ten travelers total. Have we paid in full? Can we add on any additional travelers from Kentucky? How about from out of state? Our group consists of about 50 passengers going on the same tour but from different states. Thank you in advance, Jacqueline Yockey



Top Rated
Our Partner
9.4 / 10
  • Rated A+ and accredited by the Better Business Bureau
  • Member of the US Travel Insurance Association (UStiA)
  • Customizable standard & comprehensive coverages
  • Four different benefit levels to choose from
  • Up to $500,000 for emergency medical evacuation
  • 24/7 travel assistance and concierge services
  • Free coverage for minors under their Travel Select plan