The Best Senior Travel Insurance Companies of 2024
16 min readTop 9 Best Senior Travel Insurance Companies of 2024
Here are our picks for the top travel insurance companies for U.S. seniors. All companies we’ve ranked as our top picks offer pre-existing conditions coverage or a waiver.
Compare Travel Insurance Companies for Seniors
It’s important to balance coverage with cost when searching for a senior travel insurance policy to ensure you get the best deal possible. See the table below for the average cost of a travel insurance plan based on quotes we gathered from our top company picks. We’ve also included our recommended plans for seniors and Better Business Bureau (BBB) ratings across each provider.
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*Average costs are based on quotes our team gathered from each provider using four different traveler profiles, ranging from 70 to 81 years old.
The Best Senior Travel Insurance in Detail
How We Ranked the Best Senior Travel Insurance Companies
After reviewing dozens of travel insurance providers, we ranked the best options for senior travelers by cost, coverage and value. The following are the major factors that influenced how we ranked each company:
- Medical expense limits: Companies with higher medical expense limits ranked higher on our list, specifically providers offering medical benefits higher than $250,000.
- Primary medical coverage: Medicare does not cover most medical bills incurred abroad. Companies offering primary medical coverage scored higher than those that only offer secondary coverage.
- Emergency medical evacuation: Not every travel insurance company offers medical evacuation coverage. We ranked companies with at least $100,000 in coverage higher than those with a lower benefit amount or not offering coverage at all.
- Premium costs: Travel insurance is more expensive for seniors because insurance companies consider older adults more likely to run into a medical issue and file an insurance claim. To compare premium costs, we gathered quotes for a U.S. couple taking a trip to the United Kingdom and ranked companies based on average affordability.
- Travel assistance: We ranked companies offering 24/7 travel assistance higher than those with more limited customer service hours.
How Much Does Senior Travel Insurance Cost?
The average cost of travel insurance for seniors is $417. However, seniors can likely expect to pay anywhere from $159 to $745 for a policy. Our team analyzed average travel insurance policy costs for senior travelers by gathering quotes from multiple providers using four different traveler profiles. Based on these quotes, we found the average cost of travel insurance for seniors was about 9% to 18% of their trip’s total value.
See the table below for a breakdown of average policy costs across the traveler profiles we used to gather quotes during our research process.
| Trip Details | Trip Cost | Average Policy Cost | Percentage of Trip Cost |
|---|---|---|---|
| 70-year-old couple taking a seven-day trip to Mexico | $4,000 | $363 | 9% |
| 65-year-old taking a five-day cruise in the Bahamas | $1,200 | $159 | 13% |
| 77-year-old and 81-year-old couple taking an eight-day trip to the Dominican Republic | $5,000 | $745 | 15% |
| 80-year-old taking a six-day cruise in Greece | $3,000 | $532 | 18% |
The table below shows the average cost of senior travel insurance by provider, averaging each of their plan costs for all 4 traveler types highlighted above, from cheapest to most expensive.
Keep in mind your actual travel insurance policy cost as a senior will depend on factors such as your age, total trip cost, level of coverage and more. We recommend gathering quotes from at least three different travel insurance companies before settling on a plan.
How To Pick The Best Senior Travel Insurance
When shopping for senior travel insurance, consider the following tips to pick the right policy for your coverage needs.
Check for Pre-Existing Conditions Waivers
Most travel insurance companies exclude pre-existing conditions from medical coverage. If you’ve had changes in your health before purchasing a policy — such as a new diagnosis or new medication — a company may consider it a pre-existing condition.
Senior travelers with chronic medical conditions or a new diagnosis can see if their travel insurance provider offers a waiver for pre-existing conditions. This waiver can prevent a travel insurance company from denying medical-related reimbursements if you have a pre-existing condition, as it keeps the provider from examining your recent medical records when reviewing a claim.
Angela Borden, a product marketing specialist at Seven Corners, encourages travelers to check on medical coverage if they have pre-existing conditions.
“Contact your insurance provider to be sure you fully understand the pre-existing conditions coverage for the plan you choose,” she said, “being prepared and having the information before you need it in an emergency can make a huge difference.”
Opt for Primary Medical Coverage
If you get your health insurance through Medicare, you may consider travel insurance providers that offer primary (rather than secondary) medical coverage. Medicare does not pay for medical care provided outside the U.S., which can make travel insurance for seniors valuable. Providers like Travelex and Faye are good options for seniors who think they may need international medical care policies with primary coverage.
According to our survey of 1,000 people who have purchased a travel insurance policy in the past, over 60% recommend that a friend buy a comprehensive travel insurance policy that includes medical coverage, cancellations, baggage, etc., over a cheaper policy with less coverage.
Choose a Plan With at Least $100,000 in Medical Coverage
Travel medical insurance can protect you if you need emergency medical care while on a trip. If you’re a senior with a Medicare policy that covers your domestic healthcare needs, your policy likely will not cover medical bills you incur in another country. If you need healthcare services due to a sudden illness or injury, a travel insurance plan with medical coverage can likely protect you financially in an emergency.
We recommend senior travelers obtain at least $100,000 in medical coverage based on our review of travel insurance companies and research into emergency medical expenses. If you experience a serious medical emergency that requires hospitalization, your healthcare bills might add up quickly. Consider your financial situation, the length of your travels and other factors when deciding on the amount of coverage you’re comfortable purchasing.
Get at Least $250,000 in Medical Evacuation and Repatriation Coverage
When traveling to a location without an accessible or strong healthcare infrastructure, the need for medical evacuation increases if you have a severe accident. If you need transport in an ambulance, helicopter or another specialized medical vehicle, medical evacuation coverage can help cover transport-related bills. Repatriation benefits — often included alongside medical evacuation coverage — cover the cost of transporting your remains back to your home country in the event of death abroad.
We recommend getting emergency evacuation coverage of at least $250,000, ideally $500,000. According to Medjet, medical transport costs can range from $30,000 to over $180,000, so you’ll likely want limits that can provide you with peace of mind if you need transport during a medical crisis.
Frequent International Travelers: Consider Annual Travel Insurance
Seniors who plan to travel to multiple destinations over the course of a year might consider an annual travel insurance policy. Annual, multi-destination travel insurance covers multiple trips over a set period — typically 12 months. If you plan on traveling frequently while returning to your home base between trips, this coverage may offer a cost-effective way to protect your travels versus buying multiple single-trip policies for all your adventures.
Keep in mind that while annual coverage is typically cheaper than buying multiple individual plans, these plans often have lower limits for emergency medical expenses. Consider what’s most important to you in a travel insurance policy before deciding on a single-trip or annual travel insurance plan.
Make Sure You Have 100% Trip Cancellation and Interruption Insurance
Trip cancellation insurance and trip interruption coverage can reimburse prepaid, non-refundable travel expenses if your trip is canceled or interrupted for a reason listed under your policy. Qualifying expenses can include flights, hotel reservations, rental car costs, and prepaid excursions and activities. Ensuring your trip cancellation and interruption coverages provide at least 100% reimbursement can protect your wallet and peace of mind if you experience circumstances beyond your control.
Consider a “Cancel For Any Reason” Coverage Add-On
Cancel for any reason (CFAR) coverage is an add-on worth considering if you foresee canceling your trip for a reason not covered by a standard travel insurance policy. While a typical plan covers cancellations due to a death in the family, hospitalization, military orders or deployment, and more, CFAR coverage allows you to cancel for virtually any reason. If you use your CFAR coverage, you will receive reimbursement up to a set percentage amount of your trip as outlined in your policy.
According to the participants in our study over the age of 54, 60% purchased CFAR coverage, and 19% purchased Interruption for any reason (IFAR) coverage.
How To Save On Travel Insurance
If you’re concerned about the cost of travel insurance as a senior, there are ways to save money. For example, a travel insurance policy with lower coverage limits may suffice if you’re traveling somewhere low-risk to relax versus a more adventurous location.
Or, if you have a credit card with travel insurance benefits such as trip cancellation or trip interruption coverage, you can choose to purchase a separate plan that only includes travel medical coverage. This could be cheaper than a comprehensive policy. If you do not need medical coverage, you can choose to rely on credit card benefits alone to save even more money.
Keep in mind that cheaper is not necessarily better. Make sure you’re comfortable with lower coverage limits if you choose a cheaper plan and, assuming your policy has lower limits, can pay out of pocket if needed in a medical emergency or other untimely situation. Considering your unique needs as you travel can help you better choose a plan that’s right for you.
Read more on travel credit cards: AMEX Travel Insurance and Chase Sapphire Preferred travel insurance
What Else Do Seniors Need To Know About Travel Insurance?
The following are some things to consider if you’re a senior considering purchasing traveling insurance.
COVID-19 is usually treated as a typical illness: Under most travel insurance policies, COVID-19 is treated the same as any other illness covered under the policy. If you contract COVID-19 on or before your trip, you may be entitled to a reimbursement. However, fear of a new COVID strain does not qualify you for reimbursement under standard travel insurance policies. As a senior, you may want to protect your trip with CFAR coverage if your destination may be at a higher risk of COVID-related complications.
Pre-existing conditions are often excluded: Senior citizens usually have more health concerns than younger travelers, which is partly why travel insurance costs more as you age. You may be required to provide your travel insurance provider with a list of pre-existing conditions before you are approved for coverage. Compare plan options with your health insurance coverage to find the policy that provides you with the best complementary benefits.
Why Should Seniors Buy Travel Insurance?
As a senior citizen, you may rely on Medicare as your primary form of health insurance coverage. However, Medicare does not offer coverage for most medical expenses that you could incur abroad. Without medical travel insurance, seniors could face thousands of dollars in emergency medical expenses if an accident occurs on vacation.
Travel insurance also can provide benefits beyond medical protection. Most travel insurance policies will reimburse up to 100% of nonrefundable trip expenses, which helps protect your investments. Benefits for baggage loss, emergency evacuations and flight delays are also included in most plans. If you’re a senior living on a budget income, these protections can provide peace of mind as you travel.
Deciding on a travel insurance plan as a senior is a personal decision. Considering your travel needs can help make the decision easier, and we recommend asking yourself questions such as these before purchasing a plan:
- Am I traveling to a remote area that lacks a robust healthcare system?
- Does my trip involve multiple connecting flights or destinations?
- Am I worried about unexpected events interfering with my plans?
- Are my non-refundable costs more than I can realistically afford to lose?
If you answer yes to any of the above questions, it could be worth gathering quotes from multiple providers and comparing costs. This way, you can find a plan that suits your needs and budget while providing you with peace of mind.
When To Skip Travel Insurance
Travel insurance may not be worth it for some senior travelers. For example, some countries, such as New Zealand, provide covered emergency medical care for accidental injuries or illnesses, so you may not need travel insurance strictly for medical benefits.
Other instances where you might skip travel insurance include if you booked your trip using a credit card that provides travel benefits. Several credit cards offer travel insurance benefits such as trip cancellation and trip interruption, so check with your credit card provider to see if it provides benefits that align with your needs.
Is Senior Travel Insurance Worth It?
When you compare the price of travel insurance to the price of a potential travel emergency, it usually proves worth the cost. Even if you don’t have a pre-existing medical condition, older travelers are more likely to consider travel insurance plans with medical coverage for a sudden injury or emergency evacuation. Medicare does not cover medical expenses outside the U.S. and U.S. territories. Travel insurance also offers valuable cancellation and delay benefits, potentially saving you thousands in nonrefundable trip costs like your flights and accommodations.
Expert Tips and Insights
Professor in Commercial Recreation and Tourism
Pennsylvania State University
Dr. Bing Pan is a professor in commercial recreation and tourism in the Department of Recreation, Park and Tourism Management at Penn State University. He adopts big data analytics to study visitor management and tourism marketing in national parks and destinations.
Carney Family Endowed Professor in Hospitality and Tourism Management
University of Massachusetts Amherst
Muzaffer (Muzzo) Uysal is a Carney Family Endowed Professor of the Department of Hospitality and Tourism Management – Isenberg School of Management at the University of Massachusetts, Amherst. His current research interests center on tourism demand and supply interaction, tourism development, and quality-of-life research in tourism and hospitality.
Professor in the Collins College of Hospitality Management
California State Polytechnic University Pomona
Linchi Kwok, Ph.D., publishes viewpoints and refereed (peer-reviewed) articles in hospitality management and service marketing. His research work won several best paper awards at academic conferences. Linchi is now a professor at the Collins College of Hospitality Management at Cal Poly Pomona and a visiting professor at Sun Yat-Sen University. Before moving to Southern California, Linchi worked at Syracuse University, Rochester Institute of Technology, Texas Tech University and Marriott.
Associate Professor Emeritus
Kansas State University
Gayle Appel Doll, M.S., Ph.D., is an associate professor emeritus and adjunct associate dean for Academic and Faculty Affairs at Kansas State University’s Center on Aging where she coordinates and develops research, educational and training programs and outreach activities on aging. She received her Master’s in Kinesiology and her Doctorate in Life Span Human Development, both from Kansas State University. Dr. Doll teaches gerontology courses at Kansas State University, earning the Commerce Bank Award for Outstanding Undergraduate Teaching in 2005.
Frequently Asked Questions About Senior Travel Insurance
Yes, plenty of travel insurance providers offer insurance plans for senior citizens. Some companies that provide trip cancellation and medical evacuation coverage for men and women over 70 include AXA, Berkshire Hathaway and Nationwide.
The best option to buy travel insurance as a senior citizen will vary depending on your unique needs. For example, Generali Global Assistance might be the right plan provider for you if you’re looking for an insurance provider that offers low-priced policies. On the other hand, if you have multiple health conditions and need high maximum limits on medical evacuation coverage, consider companies like Berkshire Hathaway and Nationwide.
Yes, buying a travel insurance policy event is still a good idea if you have Medicare. Though Medicare might provide you with limited emergency care coverage outside the United States, it will not cover most medical evacuations. It also does not offer any reimbursement for trip costs and expenses not related to medical care.
Yes, it’s possible to buy travel insurance with a preexisting condition. However, your travel insurance may not cover injuries, symptoms, or illnesses related to conditions present before the start date of your policy.
Methodology: How We Rate Travel Insurance Companies
Our team surveyed dozens of travel insurance providers and created a scoring system to judge each company based on coverage, quality and service. We also collected sample quotes from each company, both over the phone and on the Internet, to simulate an authentic customer experience. Here are the factors we take into consideration when rating providers:
- Cost (10%): To determine a baseline average travel insurance cost for seniors, we gathered quotes from various travel insurance companies based on four different senior traveler profiles. Specifically, we obtained quotes for the following trips:
- A 70-year-old couple taking a $4,000, 7-day trip to Mexico
- A 65-year-old taking a $1,200, 5-day cruise in the Bahamas
- A 77 and 81-year-old couple taking a $5,000, 8-day trip to the Dominican Republic
- An 80-year-old taking a $3,000, 6-day cruise in Greece
- Plan availability (10%): We look for insurers with a variety of travel insurance plans and the ability to customize a policy with coverage upgrades.
- Coverage details (29%): We review the baseline coverage each company offers in its cheapest comprehensive plan. A provider with robust coverage earns full points, including baggage delay and loss, COVID-19 coverage, emergency evacuation and medical coverage, trip delay and cancellation coverage, and more. Companies also receive points for offering a variety of policy add-ons like accidental death and dismemberment, extreme sports, valuable items, cancel for any reason coverage and more.
- Coverage times and amounts (34%): We compare each company’s waiting periods and maximum reimbursement amounts for baggage, travel and weather delays. Companies that offer customers reimbursement after fewer than 12 hours of delays earn full points in this category. We also reward travel insurance providers that cover more than 100% of trip costs in the event of cancellations or interruptions.
- Company service and reviews (17%): We look for indicators that a company is well-prepared to respond to customer needs. Companies with an established global resource network, 24/7 emergency hotline, mobile app, multiple ways to file a claim and concierge services score higher in this category. We assess reputation by evaluating consumer reviews, third-party financial strength and customer experience ratings, specifically from AM Best and the Better Business Bureau (BBB).
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