The Best New Company Out there

We may receive compensation from Fi as an advertising partner. However, this does not affect our assessment. Our opinions are our own.

I’ve been writing about travel for nearly two decades and, in that time, I’ve seen the travel insurance industry change at a glacial pace. For years, the pitch has always been the same: buy a policy, hope you never need it, and if something goes wrong, prepare for a marathon of paperwork and a check that says “finally” and “you forgot you ever filed.”

I have personally been on the receiving end of this run. So are most travelers I know. It’s just something you deal with. After all, you should never, ever, ever, ever travel without travel insurance. You don’t want to end up needing GoFundMe to pay your bills and get home if something goes wrong. (You can’t predict the future!)

Now, there are a lot of players in this space but the one I want to highlight today is Phi Travel Insurance, which I think is doing something unique.

Faye is a digital-first travel insurance company that launched coverage in the U.S. in 2022, so it’s relatively new to the U.S. market when you consider that brands like World Nomads or Allianz have been offering coverage for over twenty years.

Phi is based on a very simple idea: travel insurance shouldn’t just wait for things to go wrong. It should actively help put things right.

That means protection for the entire trip (your trip, your health, your luggage, even your pet), an app that actually works while you travel, 24/7 access to real human customer support, claims that are processed in days instead of months, and a digital wallet that pays you almost instantly instead of waiting for a check in the mail, which few companies do in this day and age.

It is available in all 50 states.

A plan, done right.

Faye has a domestic and international travel plan, which makes things super easy. Many travel insurance companies have a wide range of plans and you can look at the coverage table to find out which one will leave you stranded and the least amount of coverage you need. Faye created a single comprehensive plan that covers most of what passengers actually need:

• Travel cancellations and travel interruptions
• Emergency medical for non-US travel (up to $250,000)
• Emergency Medical Evacuation (up to $500,000)
• Trip cancellation (up to 100% non-refundable trip expenses)
• Travel interruption (up to 150% of non-refundable travel expenses)
• Trip delay (up to $2,100/trip ($300/day) after 6+ hour delay)
• Missed connection (up to $200, after 3+ hour delay)
• Non-medical emergency evacuation (up to $100,000)
• Lost, stolen, or damaged baggage (up to $2,000/trip (capped at $150/item)

These limits are fairly standard, especially on medical coverage. If you want to add stuff, they have some optional addons that I think are really cool and unique:

• Cancel for Any Reason (CFAR) – Up to 75% of the cost of the non-refundable trip is refunded if you purchase it within 14 days of your initial trip deposit and cancel up to 48 hours before your departure date.
• Rental car damage – Covers collision, theft, vandalism, natural calamities.
• Adventure and extreme sports – For bungee jumpers, free divers and sky divers
• Loss of vacation rentals – for the inevitable spilled wine on someone’s Airbnb couch
• Caring for pets – Up to $2K in vet costs if your pet is traveling with you, kennel costs if you are delayed getting home

CFAR insurance is really useful and I’ve rarely seen a company allow you to add it to a policy. Usually, this is added to the already high fee but makes for an affordable addition. I also love the increase in pet care as more and more people travel with their pets.

All about the app

This is where Fi really sets itself apart. Faye created something completely different! Here’s what you can actually do inside the Faye app:

Buy a policy in The less 60 seconds – Plug in your travel details, get a quote, get cover.

Get real-time flight tracking and alerts – You’ll get delay information, gate changes, or luggage carousel numbers when you land! A lot of apps do this but this is a nice addition.

telemedicine – Faye gives you access to a network of 20,000 telemedicine doctors in 21 languages ​​when you travel abroad. If you wake up with food poisoning in a city where you don’t speak the language and don’t trust local hospital reviews, you can talk to a doctor from your hotel bed. (As someone who has had to find doctors in other countries, this feature is amazing!)

Find a nearby doctor, pharmacy, ER, or ATM. The app works by figuring out where to go when you’re confused and just need to find the nearest open pharmacy at 11pm in the city you arrived in five hours ago. (As someone who has had to do this in other countries, this feature is amazing!)

Get free airport lounge access – If your flight is delayed for three hours or more, Fi takes you to the lounge – and who wouldn’t want access to a lounge with free food and drinks for a long delay?

Save your documents in safe keeping – Upload your passport, visa, insurance card, vaccination record securely. If something gets lost or stolen, you have digital copies.

Check destination essentials before leaving – Visa requirements, plug adapter types, local emergency numbers, weather, currency conversion, even downloadable local apps.

Chat with real humans, 24/7 – Real customer experience experts, available every day of the year, including weekends and holidays.

Buy an eSIM. – The app also enables you to purchase an eSIM which means you can avoid the annoying physical SIM swap and connect to the internet straight away when you land.

Filing a Claim

Here’s how fie works: Something bad happens. You open the app. You file a claim in minutes by uploading photos of your receipts. If it’s a qualifying problem like a baggage delay or a flight delay, you can get compensation almost immediately. Funds go straight into Faye Wallet, a digital payment card built into the app that connects to Apple Pay or Google Pay. You tap and pay for what you actually need: a new outfit, toiletries, dinner, a hotel.

For larger or more complex claims, Faye aims to resolve them within 48 hours. To obtain the necessary documents.

If you don’t want to use a digital wallet, you can transfer money to your bank account or get a paper check.

What is its price?

Pricing depends on the cost of your trip, destination, length, state of residence and age (as with every insurance product) but prices for international trips start at around $5.16 per day, which is very competitive with other companies out there.

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I have used many travel insurance companies over the years. Most of them are fine. A few are terrifying. Faye is the first to realize that it was designed by people who actually understand modern travel and that we’re booking trips on our phones, interacting in apps, and expecting the same digital convenience from insurance that we get from everything else.

The combination of full journey protection, the app, FiWallet, real human support, and fast claims has really changed the way I think about this category. Travel insurance used to be something I bought and forgot about.

If you’re taking a trip soon, check it out at withfaye.com, get a quote, and see for yourself.

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