One of the most frequent questions we hear is how can a traveler find objective reviews or ratings of travel insurance companies.
We are often asked what the ratings are for a particular travel insurance company. This usually comes from knowledgeable consumers that are familiar with financial ratings agencies like AM Best that rate the financial capability of insurance companies to pay claims. It might also refer to any source of objective information concerning the customer service and claims paying satisfaction.
Travel insurance companies that travelers commonly refer to are not reviewed by any of the financial ratings agencies. The reason is that these travel insurance companies aren't insurance companies, but instead they are national insurance agencies that manage a travel insurance product(s) on behalf of an insurance company. That insurance company is known as the "underwriter" and they are the entities that are reviewed by the ratings agencies. It is the underwriting company that will have a rating that indicates their ability to pay future claims.
This financial rating of the underwriter does not reflect on either customer service or claims paying satisfaction. Customer service and claims paying are usually functions provided by the national insurance agencies who are acting on behalf of the underwriter. If you are looking for trip cancellation/interruption, baggage, medical or emergency medical evacuation, you want to know how well the policy will work for you when you need it. Some websites have developed ratings and reviews of travel insurance agencies. However, we've found that most of these sites aren't very objective and usually only review the travelers purchase and not how well they are covered.
Keep in mind while looking at reviews that the results might be distorted in two ways:
Don't confuse this with our QuoteWright Coverage Ratings. Our QuoteWright Coverage Ratings evaluates individual coverages on a comparative basis with other available plans.