Whether you're taking a family vacation or a romantic cruise, a flight disruption can throw your plans out of whack. And so far, there've been quite a few this year: Between Jan. 23 and Jan. 26, more than 5,000 flights were cancelled due to a widespread winter storm.
Travel insurance can be a lifesaver if your flight doesn't depart on time, but it can also cover lost luggage, a medical emergency and much more.
CNBC Select has reviewed more than two dozen travel insurance companies to pick the best, based on cost, coverage, customization and more.
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Best travel insurance companies of June 2026
Best for affordability: Faye
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.
- $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
Best for families: AIG Travel Guard
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.
- 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
Best Cancel For Any Reason policies: Allianz Travel
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.
- 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
Best for medical coverage: USI Affinity
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.
- 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
Best for cruises: Berkshire Hathaway Travel Protection
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.
- 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
Best for customized coverage: American Express Travel Insurance
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.
- Don't need to be an AmEx cardholder to get coverage
- Emergency medical and travel accident protection offered
- 24-hour assistance available with all plans
- Basic rates higher than the competition
- Cancel For Any Reason benefit not available
- Trip Cancel Guard only reimburses flight costs
Types of travel insurance coverage
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.
How much does travel insurance cost?
A travel insurance policy can cost between 4% and 10% of the overall price of your trip, although the exact rate depends on your age, coverage limits, the length and location of your trip and any optional add-ons you've chosen.
In addition, a plan with a cancel for any reason benefit can cost up to 40% more than a regular policy.
How to save money on travel insurance
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.
Travel insurance FAQs
Is travel insurance worth it?
Travel insurance can be worth it if your trip involves many prepaid, nonrefundable costs, if you have a lot of connections or if you plan on enjoying risky activities like skiing or hang-gliding. While credit cards offer some travel benefits, they typically do not include medical coverage or evacuation.
How much does travel insurance cost?
The average travel insurance plan costs between 4% and 10% of your trip's prepaid, non-refundable costs. The price of a specific policy varies based on the cost of the trip, the coverage limits, the age of the traveler, add-ons and other factors.
What does travel insurance not cover?
Travel insurance typically doesn't cover foreseeable events, like epidemics or hurricanes announced before you bought your plan. In addition, pre-existing health conditions are almost always excluded unless you purchase a premium plan with a waiver. If you do cancel, it must be for a reason listed in your policy — like an injury or death in the family.
What is cancel for any reason travel insurance?
Standard travel insurance policies have a narrow list of reasons you can cancel your trip and still get reimbursed. Cancel for any reason (CFAR) insurance is an add-on that lets you call off your plans for any cause. CFAR policies usually only refund 50% to 80% of your trip's nonrefundable costs, though, and must be purchased within the first few weeks of your initial trip deposit.
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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 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.
Our methodology
CNBC Select analyzed more than 24 U.S. travel insurance companies, focusing on cost, plan types, coverage amounts and add-ons as well as the availability of Cancel For Any Reason benefits and waivers for pre-existing conditions.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Based on this criteria, our picks for the best travel insurance are:
- For affordability: Faye
- For family travel: Travel Guard
- For medical coverage: USI Affinity
- For customization: American Express Travel Insurance
- For Cancel For Any Reason: Allianz Travel
- For cruise insurance: Nationwide
- For luxury travel : Berkshire Hathaway Travel Protection
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