U.S. News & World Report just announced the best travel insurance companies. With travel interest returning and more consumers starting to plan vacations, purchasing insurance to protect from unforeseen events, trip delays or interruptions and financial insolvency of tour operators or hotels is a high priority for those booking trips, whether planning in the next few months or the next year.

"As vaccine rollouts slowly allow for safe travel, purchasing travel insurance has become a must to protect both expensive, international trips and shorter, domestic excursions," said Erin Shields, managing editor, travel at U.S. News. "The travel insurance company ratings from U.S. News offer travelers insights into choosing the right travel insurance company for their budget, itinerary and concerns."

The guide includes overviews of each top-rated insurance provider, plus pros and cons, and information on plan offerings and policy add-ons. The best travel insurance companies offer a variety of options for consumers to choose from and receive high praise from not only industry experts but also everyday travelers. The travel insurance plans from top providers include coverage for things like lost, stolen, damaged and delayed luggage; missed connections; medical and dental issues; emergency evacuation and repatriation; and trip interruption and cancellation, among other benefits.

Many companies have expanded their offerings to include medical coverage and treatment of the insured if they contract COVID-19, and trip cancellation coverage in some cases due to illness or quarantine restrictions. Others offer plans with an optional cancel for any reason benefit, which guarantees coverage for an event not specified in a comprehensive travel plan and allows travelers to recoup a percentage of costs if by the time their trip approaches they're still not comfortable traveling.

In addition to profiling the best travel insurance companies, U.S. News also analyzed various options to provide a list of companies that offer the cheapest travel insurance plans. With continuing uncertainty in the industry underscoring the importance of insurance, even budget travelers will want to consider their insurance options to protect their vacation investment.These affordable policies offer cost-effective trip cancellation and interruption coverage, among other perks.

Best Travel Insurance Companies

Allianz Travel Insurance
Travelex Insurance Services
World Nomads Travel Insurance
AIG Travel Guard
Seven Corners, Inc.
Generali Global Assistance
IMG Travel Insurance
AXA Assistance USA
Berkshire Hathaway Travel Protection
HTH Travel Insurance