Travel insurance can help travelers of any age, from children to seniors, but each demographic has unique needs: That's as true of students and young travelers as it is of anyone else, whether they're backpacking through Europe, spending a semester abroad or hitting the beach for spring break.
CNBC Select compared dozens of top travel insurance companies to find the best for students and young adults. (See our methodology for more information.)
Best student travel insurance
Best for quick claims approval: Faye
- $2,100 per person trip delay coverage after six hours
- 100% digital claims process
- Can add coverage for pet care and vacation rental damage
- Only one plan is available
- Rates are higher than some competitors
Who's this for? The Faye mobile app lets you buy a policy, file claims and check coverage, with most claims processed within 48 hours. Your reimbursement can be sent instantly to your Google Pay or Apple Pay account.
Standout benefits: Faye's app also stores travel documents and helps you get a digital SIM card to use overseas.
Best for affordability: AXA Travel Insurance
- Up to $3,000 for lost baggage with AXA’s Platinum plan
- Up to $1,500 per person for missed connections on cruises/tours
- Pre-existing conditions waiver available for Gold and Platinum plans
- No add-ons available with Silver plan.
- Cancel for Any Reason coverage only available with Platinum plan
Who's this for? AXA Travel Insurance's base Silver plan starts at just $16 for $25,000 in medical coverage and $750 for lost baggage and personal effects.
Standout benefits: The top-tier Platinum plan comes with lost skier days, golf rounds and sports equipment rental coverage.
Best for studying abroad: USI Affinity
- Medical-only insurance available
- CFAR is available for plans bought up to 21 days after booking
- No age limit
- CFAR only covers up to 70% of trip costs
- Trip delay coverage requires delay of 12 hours
Who's this for? USI Affinity is a good choice for students who are traveling abroad, as its WorldMed benefit can be used on trips of up to 364 days.
Standout benefits: There's no deductible or co-pay for urgent-care treatment and USI's basic policy includes $250,000 in emergency medical coverage.
Best for last-minute changes: Travel Guard
- Adult policies include coverage for one child under 17
- Travel delay benefit of $1,000 is available after five-hour delay.
- Medical care and evacuation limits can be doubled
- Cancel For Any Reason policies only reimburse up to 50%
- Standard medical coverage limit lower than some competitors
- Not all products are available for purchase online
Who's this for? If you're concerned about your plans changing at the last minute, Travel Guard includes trip exchange coverage, which can help you move your travel dates without incurring additional charges.
Standout benefits: Travel Guard also offers single occupancy coverage, which can reimburse expenses if someone traveling with you suddenly drops out.
Best for cancellation coverage: Allianz Travel
- OneTrip Prime and Premier plans cover one child under 17 for free
- CFAR coverage reimburses 80% of nonrefundable trip costs.
- Pre-existing condition waiver included with all plans
- Rates are higher than the national average
- Limited options for adventure travel
- CFAR plan must be purchased through a travel agent
- No discounts
Who's this for? Allianz's Cancel for Any Reason benefit reimburses up to 80% of prepaid, non-refundable trip costs, more than most competitors.
Standout benefits: Allianz offers add-ons to cover risky activities like bungee jumping and scuba diving.
Best for adventure travel: Berkshire Hathaway
- Speedy claims resolution including same-day compensation
- All plans include rental car collision coverage
- Pre-existing coverage waiver available with all plan
- CFAR policy only reimburses 50% of prepaid trip costs
- No add-ons available
Who's this for? Berkshire Hathaway Travel Protection's adventure travel package covers activities like skydiving, bungee jumping, ziplining and scuba diving. It includes $50,000 of emergency medical coverage and $500 if your sporting equipment is lost, damaged or stolen in transit.
Standout benefits: Berkshire Hathaway's online claims process means you can get digital payments the same day you file.
What young adults need to know about travel insurance
You may think you're invincible, but if you get hurt, your U.S. health insurance typically won't be valid overseas and you'll have to pay out of pocket for doctor's appointments, emergency room visits, hospital stays and prescriptions.
If you're planning on being adventurous, you'll need to add special coverage — a standard policy typically doesn't cover scuba diving, bungee jumping or other risky activities.
And travel insurance typically won't cover incidents involving drugs or alcohol.
"If the individual is either beyond a certain intoxication level or under the influence of illegal substances, those things are very often excluded from coverage," said Stan Sandberg, co-founder of the online marketplace TravelInsurance.com. "That would be something to keep in mind for a student traveling to a country that doesn't have a drinking age."
If you have wanderlust, be aware that many companies won't cover trips to conflict-ridden countries, , including many on the U.S. State Department's level 4 travel advisory list.
Weather may also limit your policy: If you're trying to buy a policy for an area with a named storm, trip cancellation coverage may not apply.
Lastly, many travel insurance brands have a minimum age to buy your own policy, usually between 16 and 18. If you are traveling with a covered adult, some companies will cover a child up to age 17 for free.
What does travel insurance cover?
Medical coverage
Your U.S. health care isn't valid overseas, so most travel insurance plans include medical expenses, like doctors' visits, hospital stays and prescriptions, as well as emergency evacuation home.
Trip cancellation and interruption
If you have a death in the family right before your big trip, trip cancellation coverage can reimburse you for flights, hotels and tours and other non-refundable trip costs. If your buddy breaks his arm while you're already on vacation, trip interruption insurance can do the same.
Lost/delayed baggage
Airlines are required to reimburse travelers for lost luggage, but in some cases, it may not be enough to fully compensate you for your losses. Travel insurance can provide additional coverage for missing bags
If your luggage is held up, delayed baggage coverage will reimburse you for food, clothing and other incidentals you buy while waiting, although the amount of time that must pass before coverage kicks in varies.
How much is student travel insurance?
Travel insurance costs vary based on several factors, but most policies are between 5% to 7% of a trip's total cost.
Luckily, one of the biggest factors is age, so students tend to pay less for coverage than older travelers. But young people may be more interested in adventure sports, which usually cost extra to insure.
In addition, the longer your trip, the more expensive coverage tends to be. So, if you're studying abroad or taking a gap year, you'll pay more than someone spending two weeks in Singapore.
More on the best student travel insurance
Faye
Launched in 2022, online provider Faye only has one plan, but it boasts an intuitive website and mobile app with a fully digital claims process and real-time travel alerts.
Add-ons: Adventure sports, pets, damage to vacation rentals
Cancel for Any Reason: Up to 75% reimbursement of nonrefundable trip costs if purchased within 14 days of initial trip deposit.
AXA Travel Insurance
AXA offers three tiers of coverage, with 100% of eligible trip cancellation costs covered and up to $250,000 in medical coverage.
Add-ons: Coverage for rental car collisions, sports equipment rentals, lost ski days and golf rounds.
Cancel for Any Reason: Up to 75% reimbursement of nonrefundable trip costs if you purchase within 14 days of the initial trip deposit. (Available on platinum plan.)
USI Affinity Travel Insurance
USI Affinity offers single and multiple-trip travel insurance, as well as medical plans for those traveling outside of the U.S. It also offers medical plans for those visiting the U.S.
Add-ons: Rental car damage, sports equipment rental, interruption for any reason
Cancel for Any Reason: Up to 70% reimbursement of nonrefundable trip costs if you purchase within 14 days of the initial trip deposit.
Travel Guard Travel Insurance
Travel Guard offers single and multi-trip policies, as well as a Pack N' Go plan that can give you coverage on the same day.
Add-ons: Rental car damage, pets, adventure sports, wedding cancellations
Cancel for Any Reason: Up to 50% reimbursement of nonrefundable trip costs if you purchase within 15 days of the initial trip deposit.
Allianz Travel Insurance
Allianz's high limits for medical coverage and numerous add-ons help make this brand a standout. It offers single-trip and annual policies and the option to just get travel medical insurance.
Add-ons: Rental car damage, required-to-work coverage
Cancel for Any Reason: Up to 80% reimbursement of nonrefundable trip costs if you purchase within 15 days of the first trip deposit.
Berkshire Hathaway Travel Insurance
Berkshire Hathaway Travel Protection offers several travel insurance plans, including specific plans for adventure travel and cruises.
Add-ons: Rental car damage
Cancel for Any Reason: Up to 50% reimbursement of nonrefundable trip costs if you purchase within 15 days of trip deposit.
Student travel insurance FAQs
What is student travel insurance?
Student travel insurance is designed to protect young people studying or traveling abroad. It typically covers trip cancellations or interruptions, lost or stolen belongings, medical emergencies, and other travel-related issues.
Is travel insurance worth it?
A travel insurance policy is almost always worth it if you don't have the funds to pay for a major mishap, like a lost suitcase or having to book a new flight home. Travel medical coverage is valuable if you only have U.S. medical insurance, which won't be accepted abroad.
What does travel insurance not cover?
Travel insurance doesn't cover cancellation for reasons outside of those listed in your policy. In addition, pre-existing medical conditions or dangerous activities like skydiving or mountain climbing. Claims for incidents involving alcohol or drug use are also typically excluded.
What is international health insurance?
International health insurance provides similar coverage to a traditional travel insurance policy. But because it doesn't add on protection for trip cancellation or lost luggage, policies are usually much cheaper. It may last longer, as well.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. 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.
Our methodology
To determine the best travel insurance companies for students and young adults, CNBC Select analyzed more than a dozen travel insurance companies and focused on coverage options and limits.
We considered the number of plans, whether there was 24/7 traveler's assistance and coverage for adventure activities.
We reviewed each carrier's website and mobile app, claims-handling process and reputation for customer service. We weighed brands more heavily that had more coverage options for longer trips, like semesters abroad or gap years.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Based on that criteria, our picks for best student travel insurance companies are:
- Best for quick claims approval: Faye
- Best for affordability: AXA Assistance USA Travel Insurance
- Best for long trips: USI Affinity Travel Insurance
- Best for last-minute changes: Travel Guard Travel Insurance
- Best for cancellation coverage: Allianz Travel Insurance
- Best for adventure travel: Berkshire Hathaway Travel Protection
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