Travel insurance can provide valuable protection if something unexpected happens on your trip. Two of the major players in the travel insurance space are Travelex Insurance and Travel Guard.
But which one is better for travelers? This comprehensive guide will compare Travelex vs Travel Guard on key factors like coverage, exclusions, customer service, claims, and more.
A Brief Comparison Table
| Category | Travelex | Travel Guard |
| Company | Owned by Zurich Insurance Group | Owned by AIG |
| Plans Offered | Fewer options but covers basics | Very customizable with higher limits |
| Trip Cancellation/Interruption | Up to total trip cost | Up to total trip cost, higher max limits |
| Emergency Medical | $50K limit | $50K-$100K limits |
| Emergency Dental | $500 limit | $500-$750 limits |
| Baggage Loss/Damage | Lower limits | Higher limits of $2,500+ |
| Travel Delay | $500 limit | $500-$1,000 limits |
| Customer Service | Slower claims response | Top-rated, very responsive |
| Prices | Lower cost plans | More expensive but very customizable |
| Best For | Cost-conscious travelers | Customization and higher limits |
Overview of Travelex Insurance
Travelex Insurance has been providing travel insurance products for over 25 years. They offer a wide range of plans that can be customized to your specific trip details. Some key things to know about Travelex:
- Owned by Zurich Insurance Group, a large global insurer.
- Offer trip cancellation/interruption insurance, emergency medical/dental coverage, travel delay benefits, and more.
- Plans for U.S. residents traveling domestically, internationally, or cruising. Special options for students and business travelers.
- Policies can be purchased directly online or over the phone.
- 24/7 emergency and claims assistance included.
Overview of Travel Guard Insurance
Travel Guard is owned by AIG, another large insurance company. They also offer comprehensive travel insurance options including:
- Trip cancellation/interruption, emergency medical/dental, missed connection, baggage delay, etc.
- Domestic, international, group, and cruise coverage.
- Policies available directly through their website or travel agents.
- 24-hour assistance and claims service.
- Additional services like ID theft protection and concierge services.
Also Read: Comparison Between Priceline And Travelocity
Key Differences Between Travelex And Travel Guard
So both providers offer robust travel insurance products backed by established insurance companies. Now let’s take a deeper look at how they compare.
1. Coverage and Benefits Comparison
The specific coverage and benefits offered can vary slightly depending on the policy you choose with each provider. But in general:
Trip Cancellation/Interruption
Both Travelex and Travel Guard provide trip cancellation/interruption benefits. This covers non-refundable costs if you need to cancel for covered reasons like illness or injury. It also covers extra costs to change flights if a trip gets interrupted.
The policies are quite similar, covering issues like:
- Sickness, injury or death of the insured or a family member/traveling companion
- Severe weather conditions
- Terrorist event or hijacking
- Jury duty or military leave
- Traffic accidents en route
- Qualifying job loss
The maximum limits and covered reasons can differ based on the plan. Travel Guard seems to offer slighter higher limits. But both provide robust cancellation/interruption benefits.
Emergency Medical and Dental
A key benefit offered by both insurers is emergency medical and dental coverage while traveling. This pays for treatment and transport to get you proper care if you become ill or injured on your trip.
Travelex and Travel Guard both offer coverage limits up to $50,000 or more for medical evacuation, emergency treatment, and transport. Dental care is also included, usually up to $500-$750 limits.
So again, both provide substantial coverage for emergency medical situations abroad. Travel Guard may offer higher limits on some plans.
Baggage Loss or Damage
Lost, damaged or stolen baggage coverage is also standard. Typical limits are $500-$2500 for baggage and personal effects. Travel Guard seems to offer higher maximums than Travelex on this coverage.
Travel Delay
Reimbursement for additional costs like accommodations and meals if your trip is delayed due to a covered reason like severe weather is also included. Both insurers provide $500-$1000 limits.
Other Benefits
Other additional benefits offered by both insurers can include:
- Trip delay – reimbursement for accommodations/meals
- Missed connection coverage
- 24-hour emergency assistance services
- Accidental death and dismemberment coverage
- Rental car damage coverage
- Travel concierge services
The specific extra services and limits vary across plans. But in general, both providers offer quite extensive protections beyond just trip cancellation or medical coverage.
2. Exclusions to Be Aware Of
While the coverage is quite extensive, there are some standard exclusions to be aware of with any travel insurance policy. These generally include:
- Pre-existing medical conditions (unless waiver purchased)
- Mental/nervous health disorders
- Self-inflicted injuries
- Extreme sports/dangerous activities
- Alcohol or drug related injuries
- Civil unrest or terrorism (unless waiver purchased)
Be sure to read the full policy documents to see specific exclusions based on the plan you choose. Both Travel Guard and Travelex provide clear policy wording upfront before you purchase.
3. Cost and Plan Comparison
For pricing, Travel Guard seems to be a bit more expensive overall than Travelex for similar coverage amounts. For example, a basic Travelex policy for a $1000 trip with $100,000 medical limits starts around $70. For a comparable plan, Travel Guard would be around $100.
However, Travel Guard offers more customization like higher limits or cancel for any reason upgrades. They also have comprehensive cruise specific plans. So if you need more coverage, Travel Guard may be the better choice.
Travelex offers fewer options but provides solid protection at a lower price point. Their plans cover most travelers’ basic needs.
When selecting a plan, be sure to consider:
- Trip cost
- Dates and destinations
- Any high risk activities
- Health considerations
Adjust your coverage up or down based on your specific trip profile and budget.
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4. Claims and Customer Service
Fortunately filing a claim is not something travelers have to do often. But it’s still important to consider how responsive each insurer is.
Travelex and Travel Guard both have 24/7 emergency and claims assistance. You can contact them to help arrange medical transport or immediate trip changes, etc. in urgent situations.
For claims after your trip, Travel Guard seems to have a slight edge in reputation for customer service. Their claims process is very straightforward and efficient. Travelex also has reasonable claims handling. But some travelers report frustrations with slower response times.
Overall, both companies aim to make the claims process as smooth as possible. But Travel Guard appears to be viewed as more responsive.
Also Read: Comparison Between Travelocity and KAYAK
Frequently Asked Questions (FAQs)
There are several excellent providers, but based on financial strength, service reputation, and coverage options – Travel Guard consistently ranks as one of the top choices for travel insurance globally.
Yes, Travelex is a very reputable company, owned by Zurich Insurance Group. They have been in business for over 25 years and offer solid travel insurance options. Their financial backing is strong.
For international trips, look for a comprehensive plan like Travel Guard International that includes medical evacuation, emergency treatment, trip interruption, and lost baggage. Review policy exclusions carefully for any high risk destinations.
Yes, Travel Guard is a brand of travel insurance plans offered by AIG. AIG is the parent company and owns/backs all Travel Guard insurance products.
So in summary, while there are some differences, Travelex and Travel Guard both offer reputable travel insurance options to protect your trip. Compare plans carefully and look for the coverage that best fits your needs and travel style.
Also Read: Choose Between Shelter Insurance And State Farm.
Bottom Line
For most travelers, you can’t go wrong with either Travel Guard or Travelex insurance. Both provide extensive coverage with excellent emergency travel benefits and protections.
Here are some key factors in deciding:
Consider Travelex if you want:
- Solid coverage for a great price
- Quick and easy purchase process
- Fewer plan options to choose from
Consider Travel Guard if you want:
- Very customized plans with higher limits
- Top-rated customer service reputation
- Comprehensive cruise coverage
Take the time to get quotes and understand the plans fully. Evaluate your own trip, health, and budget factors. With your specific needs in mind, you can decide if Travelex or Travel Guard is a better choice as your travel insurance provider.
