Travelex Insurance Services

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Consumer Complaints and Reviews

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I purchased travel insurance with my airline tickets through Priceline. The only travel insurance available was through Transamerica Casualty Insurance Company which now I find is farmed out to Travelex for the trip protection. I have filled out 2 claims after I called the office in NY. I have not had any response at all. No email, no phone call or snail mail response to my claim. My sister whom I was going to visit became very seriously ill and passed away prior to my trip from Hawaii to Dallas, TX. I was able to successfully cancel the trip through Priceline.

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Don't be caught off guard! Stay away from travel agency CheapFareGuru.com and their affiliate TRAVELEX for trip protection. When my trip was canceled, I had a problem to contact CheapFareGuru for details. On CheapGuru website, they advertising 24x7 Customer Support. However, they have just one representative answering phone calls from California. Average of answer waiting time - 40 to 60 min. Actual agency is somewhere in India and they are working in local time without advertising their phones nor faxes etc. TRAVELEX advertised trip insurance as "Trip Cancellation/Interruption - Total Covered Air Ticket Cost." Clear and simple.

However, when I contacted them about trip refund, representatives explained that full reimbursement will be applied only in case of extreme weather conditions or airline union strike. In both cases, I would need to send to TRAVELEX written and valid proof about strike or weather. Agency didn't explain if I should contact airline union for such confirmation, however representative just advised to me: "It is your responsibility to supply valid documentation." After I open case on TRAVELEX website and filled up theirs forms, they sent me a lot of pages with insurance policy explanations and restrictions with different companies logo: TRAVELEX (23 pages), TRANSAMERICA CASUALTY INSURANCE COMPANY (letter), STONEBRIDGE CASUALTY INSURANCE COMPANY (20 pages).

Predators. That is all I can say.

Expert Review

Matthew BrodskyInsurance Contributing Editor

Matthew Brodsky is an established expert on insurance, having written hundreds of articles and other pieces of content on the subject, interviewed countless practitioners, and attended dozens of conferences and events. He served as an editor at industry magazine Risk & Insurance for six years.    More about Matthew→

Travelex is a leading travel insurance provider, with more than 650 locations worldwide. Each year, more than 1.3 billion travelers pass through one of their gateways.

  • Multi-tiered pricing: They offer three pricing tiers with clearly laid out coverage levels.
  • High-limit medical coverage: Get medical expense coverage of up to $100,000 per trip.
  • Children travel free: With the right plan, children under the age of 21 are included at no extra charge.
  • Extended trip duration: Single-trip policies will cover vacations of up to 180 days.
  • Trip interruption coverage: In the event of an interruption, certain Travelex plans cover 150 percent of the cost of the trip.
  • Best for Leisure travelers, adventurers and family trippers.

Question and Answers - Travelex Insurance Services

What problem is Travelex Insurance trying to solve?

Travelex Insurance protects travelers from the unexpected expenses and assists in dealing with unforeseen events which could occur while traveling.

What sets Travelex apart from the competition?

Travelex is extremely proud of our "ExFactor" advantage over the competition which entails our experienced people, excellent protection plans and exceptional customer care. We pride ourselves on the fact that every client, customer, travel agent is treated as a VIP. We understand that many people do not understand travel insurance; our clients can rely on Travelex to provide the most appropriate plan with excellent service before, after and during their trip to be sure their needs are met.

What needs does Travelex fulfill, and how do you fulfill those needs better than your competition?

The Travelex protection plans offer 24-hour coverage for trip cancellations, flight delays, medical emergencies and evacuations and much more depending on the plan purchased. Many of the Travelex plans provide First Payer Coverage with no deductible. This means we pay first but may recover funds from medical & other collectible insurance plans. Our plans are available through major travel providers including tour operators, cruise lines, and thousands of travel agents across the country as well as online at www.travelexinsurance.com.

What’s the most common misconception consumers have about your industry?

Most people do not understand the need for travel insurance. In today's world there are so many uncertainties that can impact their trip investment, for example: trip cancellations due to natural disasters such as volcanoes, earthquakes, hurricanes; trip delays, sickness, injury, terrorist attacks, delayed baggage and the list goes on. The cost of one of these events would in most cases more than cover the cost of a Travelex protection plan.

How has your industry changed in the last 5 years to 10 years?

Prior to 9/11 the participation rate of travelers purchasing travel insurance was approximately 4%. Today approximately 33% of travelers who have undertaken significant travel (either traveled abroad or spent more than a week away from home) stated they have been covered by one or more types of travel insurance.

In addition, to more people purchasing travel insurance, more and more sales channels have been established and grown. Ten years ago the majority of travel insurance was sold by travel agents, tour operators and cruise lines. Today credit card companies, banks, online travel agency, airlines and travel insurance aggregators all sell a considerable amount of travel insurance in addition to the traditional channels.

What is something you wish every consumer knew about Travelex Insurance?

Travelex Insurance Service is part of the Travelex Group which is the world's largest retail foreign exchange specialist. Travelex Group located in London, England serves retail customers directly providing foreign exchange, pre-paid currency cards and international payment services through a range of convenient channels. Customers can choose to do business with us in store, online or via our extensive network of ATMs.

In addition Travelex Group also works with a range of business partners to offer foreign currency services to their customers. We have long-term strategic relationships with a number of airport operators, retailers, travel agents and financial institutions who rely on us for retail foreign exchange, outsourcing and wholesale banknote solutions.

Has Travelex received any awards or recognition your customers would like to know about?

Travelex Insurance Services is a seven time winner of the Virtuoso Best Specialty Provider Award. This Award is unique in that the Virtuoso travel advisors vote for the winner. The fact that Travelex is continually recognized with this award is a tribute to the quality protection plans and exceptional service we provide every day to travel agents and travelers alike.

How has Travelex Insurance grown or evolved?

Travelex continues to modify and upgrade our plans to meet the needs of today's travelers. The company has progressed through the evolution of travel insurance products which started as a simple flight accidental death and dismemberment plans offered mainly through airport counter locations, to today where Travelex offers more comprehensive travel package plans sold through multiple venues including travel agents, tour operators, cruise lines and online travel agencies.

Our plans have mainly evolved with the needs of the leisure traveling public by including features such as a pre-existing medical waiver on most plans, a family friendly kids free plan, pet insurance provisions and a 'cancel for any reason' upgrade – to name a few.

How does Travelex measure success?

Customer satisfaction is the key success measurement for Travelex Insurance Services. When Travelex is able to meet or exceed our customers’ expectations our distributors are more likely to sell more insurance, travelers are more likely to become repeat customers and both are more like to be advocates of our company attracting more customers for us.

Travelex measures our customer satisfaction through customer feedback surveys, industry review site ratings, agency attrition rate and customer testimonials.

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Travelex Insurance Services Company Profile

Company Name:
Travelex Insurance Services
Address:
9140 West Dodge Road, Suite 300
City:
Omaha
State/Province:
NE
Postal Code:
68164
Website:
http://www.travelexinsurance.com/