Travelex Insurance Services review (2024)

FAQs

What is the review period for Travelex insurance? ›

If you purchase either the Travel Basic or Travel Select plan, Travelex offers a 15-day look period in case you change your mind concerning your policy purchase and would like a refund.

Allianz Global Assistance Travel Insurance has a higher overall rating than Travelex Travel Insurance. Allianz Global Assistance scores better than Travelex across: Coverage, Extra Benefits, Financial Strength, and Price & Reputation.

If your trip is canceled for a covered reason, a policy will often reimburse airline tickets, hotel rooms, rental cars, tours, cruises and other prepaid, non-refundable expenses.

In 2016, Travelex Insurance Services grew its global footprint by becoming a part of the Cover-More Group, which is a wholly-owned subsidiary of Zurich Insurance Group.

The applicable margin applied to the transaction amount is 5.95%.” If you're not happy with the rate offered by Travelex, or you don't want to have an extra margin of up to 5.95% added to your transactions, it might be time to find an alternative provider.

At Travelex, we offer you $0 commission and a competitive market exchange rate when you buy foreign currency from us online, whether in cash or our Travelex Money Card. These online rates are our exclusive online rate and are not available in-store.

Formerly part of now-defunct Finablr, Travelex's fortunes quickly turned due to the coronavirus pandemic and a cyberattack that forced it to temporarily disable its systems. It then went through a pre-pack administration that led to more than 1,300 job losses and saw its creditors seize control.

Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.

What percent of trip should travel insurance cost? ›

Travel insurance is not one-size-fits-all, so the price and conditions of a plan will vary. However, it may be useful to understand pricing guidelines to plan your travel insurance purchase. In general, you should expect a plan will cost anywhere from 4%-10% of your total pre-paid, nonrefundable trip cost.

Pros of Travelling with a Travel Card

The Travelex Money Card lets you load up to 10 different currencies, making travelling to different destinations in the one trip easier, plus easily manage your travel money on the go with the Travelex Travel Money App.

The Travelex Money Card is a Mastercard travel card, meaning it is free to make international withdrawals at ATMs displaying the Mastercard acceptance mark. It is also free to obtain cash over the counter and to make online purchases with a travel money card.

You can load multiple currencies onto your Travelex Money Card before you travel, and then use it in millions of ATMs worldwide to access your money quickly and safely. You can also pay for goods and services online and in stores worldwide.

The medical stability period is a defined time frame in which an individual's pre-existing medical condition must remain unchanged to be covered under a travel insurance policy. This period can vary, typically ranging from 30 to 180 days, depending on the insurer.

The cover is valid for 365 days, and trips taken within the year are protected. However, you can not stay in one place for over 180 days.

Though you might review your policies annually, that doesn't mean you'll always need to make a change that often. In many cases, your current coverage may still be adequate. But generally, it's a good idea to review all of your insurance needs at least once a year.

Some may have a faster turnaround time than others, while some might require more documentation or information before approving a claim. Generally, you can expect the following timelines for different types of claims: Travel-related claims such as trip cancelations, delays, or interruptions: 7 to 14 days.