Travel Insurance 2026: What It Covers and What It Does Not

Travel insurance policies vary wildly. Here is how to choose the right plan, what exclusions to watch for, and whether crypto cards need extra coverage.

Travel insurance is one of the most misunderstood financial products. Many people buy the cheapest policy without reading the exclusions. Medical evacuation alone can cost £50,000–200,000 from remote locations — enough to financially destroy most families.

Essential Coverage You Need

• Medical treatment abroad: minimum £2M coverage, ideally unlimited
• Emergency repatriation: medical evacuation to home country if necessary
• Trip cancellation and interruption: for significant costs
• Personal liability: in case you accidentally injure someone or damage property
• Baggage and personal possessions: check crypto hardware wallet coverage specifically

Common Exclusions to Watch For

• Extreme sports: skiing, diving, climbing — usually require specific add-on
• Pre-existing medical conditions: must be declared, excluded if not
• Alcohol-related incidents: most policies exclude claims while intoxicated
• Cryptocurrency theft: most standard policies exclude digital assets — check policy wording

Annual Multi-Trip vs Single Trip

For anyone taking more than two international trips per year, an annual multi-trip policy is almost always cheaper. Annual policies from AXA, Allianz, or Direct Line typically cost £80–200 and cover unlimited trips under 31–45 days. The Steyble Metal card includes travel insurance as a card benefit.