There are a lot of choices when it comes to travel insurance companies, so narrowing your selection to those that have a solid financial rating, offer products that provide good value, and receive high customer ratings should be baseline criteria.
Allianz Global Assistance company (Allianz Travel) checks all of those boxes. Its parent company, Allianz SE, receives an A+ rating from A.M. Best (a leading insurance financial rating firm), and the company offers competitive individual trip and annual travel insurance products. It also serves over 45 million customers in the U.S. each year with 84% of those customers giving the company a 5-star rating.
Allianz has also been around a long time. In fact, the company was there to insure the Wright Brothers’ first flight and the construction of the Golden Gate Bridge — so you know you’re working with an established organization. You’ll also find that Allianz does business in more than 35 countries.
Let’s take a look specifically at Allianz Travel’s insurance products, show you how to obtain a quote, and give you some tips on purchasing and comparing travel insurance policies.
And while our focus is on Allianz Travel coverage, much of our information can apply to purchasing travel insurance in general.
Why Purchase Travel Insurance
Travel insurance can protect your trip investment with coverage for disruption due to unforeseen events such as severe weather, should you become ill, for illness in your family, missed connections, medical emergencies, and more.
Deciding whether to purchase travel insurance for your trip is an option each time you make a travel booking. The coverage is commonly offered by airlines, cruise companies, tour operators and other travel providers at the point of sale. If you travel infrequently and the cost is relatively low, you may just opt for the coverage during the booking process.
However, if you’re going to be taking several trips, you may be able to save money and receive better coverage if you compare with other travel insurance policies in the marketplace. Additionally, you’ll want to determine if it makes sense to purchase single insurance coverage for each trip or an annual all-trips-included policy.
Situations where it makes sense to purchase travel insurance include the following:
- You’re booking an expensive trip that includes a lot of non-refundable upfront expenses
- Your trip includes several travel providers (i.e. airlines, hotels, and tour operators)
While travel insurance is meant to cover unforeseen events, purchasing Cancel for Any Reason coverage may allow you to cancel your trip for any reason.
Bottom Line: If you’re uncomfortable with the amount of money you have at risk when you travel, securing travel insurance can provide immediate peace of mind. You’ll have solace in knowing that if you needed to cancel your travel plans due to a covered event or if your travel is disrupted, you’ll be able to recoup most, or all, of your investment.
Travel Insurance and the COVID-19 Virus
Most travel insurance policies do not provide coverage for trip cancellation due to fear of the coronavirus pandemic. However, COVID-19 is an included illness on many travel insurance policies as it relates to certain coverages such as emergency medical care while traveling and canceling a trip if you become ill with the virus. You may also have coverage if a family member or travel companion contracts the virus and you must cancel your trip as a result.
The only way to cover trip cancellations due to fear of contracting COVID-19 is to purchase Cancel for Any Reason insurance. This coverage can be added to a comprehensive travel insurance policy (with limitations) and subsequently allows you to cancel your trip for any reason.
While Allianz does not offer Cancel for Any Reason insurance, it may cover COVID-19 related illness in the following circumstances:
- Emergency medical care while traveling
- Trip cancellation due to becoming ill with the virus
Allianz Epidemic Coverage Endorsement
Allianz recently announced that it is adding a new endorsement to select policies that will offer limited coverage for COVID-19. Circumstances such as becoming ill with COVID-19 and having to cancel your trip, hospitalization, and trip delays due to such illness while traveling will have coverage.
Emergency transportation coverage has also been expanded to include COVID-19-related illness. Terms and conditions apply and the endorsement is not available on all policies Allianz offers.
You can find policies that offer Cancel for Any Reason insurance at TravelInsurance.com and Aardy.com.
Bottom Line: Travel insurance policies normally do not cover canceling your trip because of fear you might get ill. However, Cancel for Any Reason insurance allows you to cancel a trip for any reason you determine is necessary.
Types of Travel Insurance Policies Available With Allianz
Allianz Travel offers 2 core types of travel insurance plans: single trip plans and multi-trip plans. Each plan allows you to select the level of coverage you want and subsequently, the level of premium you prefer to pay.
We’ve used criteria to obtain a quote for a traveler age 35, traveling for 1 week to Mexico on a trip costing $3,000. All benefits are per person, per trip, unless otherwise noted.
OneTrip Plans — For Affordability and Select Coverages
The single trip option allows you to select from a Basic, Prime, or Premier plan. Premiums vary by plan and coverage levels. For the example we selected, the premiums ranged from $116 for the Basic to $192 for the Premier plan.
OneTrip Basic Plan — the Most Affordable Plan
The OneTrip Basic plan offers basic trip protection at an affordable price.
OneTrip Prime Plan — the Most Popular Plan
Need more coverage but still want your travel insurance protection to be affordable? The OneTrip Prime plan offers higher coverage limits at a reasonable cost.
The following are the maximum coverage limits for OneTrip plans. These coverages can be found under the OneTrip Premier Plan:
- Trip Cancellation — up to $100,000 reimbursement for prepaid non-refundable expenses; pre-existing medical conditions included
- Trip Interruption — up to $150,000 reimburses for remaining non-recoverable expenses and increased cost of return transport due to trip interruption as the result of a covered event; pre-existing medical conditions included
- Emergency Medical — up to $25,000
- Emergency Medical Transportation — up to $500,000 for transportation to the nearest medical facility
- Baggage Loss/Damage — up to $1,000 for theft, loss, or damage
- Baggage Delay — up to $300 for delays 12 hours or more
- Trip Delay — up to $800 ($200/day for 4 days) for delays of 6 hours or more, for eligible expenses; an option to receive $100/day with no receipts required is also available
- Change Fee Coverage — $500
- Loyalty Program Re-deposit Fee Coverage — $500, covers re-deposit of points/miles due to covered trip cancellation
- 24 Hour Hotline Assistance
- Optional coverages include pre-existing medical coverage, rental car coverage, and required to work coverage — restrictions apply
Also worth noting is that kids age 17 and under are covered at no additional charge when traveling with a parent or grandparent.
Bottom Line: Allianz offers several levels of single-trip travel insurance plans that can fit every budget and level of coverage needed.
AllTrips Annual Plans — Cover All of Your Trips for a 12-Month Period
If you’re a frequent traveler and want to ensure all of your trips are covered without having to purchase individual travel insurance policies, one of the AllTrips plans might be an appropriate choice. All of the trips you book within the 12-month policy period are covered automatically.
Coverage limits are per person, per trip, but more than 1 person can be included in the policy. Children 17 and under are covered at no additional charge when traveling with a parent or grandparent.
The AllTrips Executive plan is the most comprehensive policy and includes the maximum coverage limits listed below. AllTrips Prime and AllTrips Basic have less coverage than the Executive plan but may still be appropriate for your situation.
For example, the AllTips Basic plan does not include trip cancellation/interruption insurance but has emergency medical, evacuation, trip delay, baggage insurance, and car rental insurance.
- Trip Cancellation — up to $10,000 reimbursement for prepaid non-refundable expenses
- Trip Interruption — up to $10,000 reimburses for remaining non-recoverable expenses and increased cost of return transport due to trip interruption as the result of a covered event
- Emergency Medical — up to$50,000
- Emergency Medical Transportation — up to $250,000 for transportation to the nearest medical facility
- Baggage Loss/Damage — up to $1,000 for theft, loss, or damage
- Baggage Delay — up to $1,000 for delays 12 hours or more
- Trip Delay — up to $200 per day for eligible expenses, up to $1,600 in coverage, for delays of 6 hours or more
- Rental Car Damage and Theft — up to $45,000
- Business Equipment Coverage — up to $1,000
- Change Fee Coverage — up to $500
- Loyalty Program Redeposit Fee — up to $500
- Travel Accident Insurance — up to $50,000
- Concierge Services
- 24 Hour Hotline Assistance
- Optional Pre-Existing Medical Coverage — restrictions apply
Bottom Line: Allianz’s AllTrips 12-month plans offer affordable options to cover every trip you have booked or have yet to book within a 12-month period.
How to Obtain a Quote With Allianz
Travel insurance is one of the easiest policies for which to obtain a quote and subsequently purchase a policy. Unlike auto or home insurance, you simply input some basic information about your trip, your age, where you reside, and your quote is instant.
You can then read through the coverages, select a policy that fits, and hit the purchase button. There is also no risk as you’ll have a free-look period where you can review the policy and decide whether to keep it or not.
If not, you can get a full refund. This period can be 10-14 days after purchase, depending on your plan and state regulations.
Additional Travel Insurance Offered by Allianz
In addition to the travel insurance packages offered by Allianz, you can purchase these additional plans and coverages available for single trips:
OneTrip Emergency Medical Plan
If trip interruption/cancellation is not important to you, you’ll find this plan with emergency medical, baggage insurance, emergency transport, travel accident coverage, and trip delay an affordable alternative.
OneTrip Cancellation Plus Plan
If you need to cancel your trip for a covered reason or your trip is interrupted for a covered event, you’ll have coverage. Trip delay and 24-hour assistance are included.
Rental Car Damage Protector
For $9 per day, receive rental car damage/theft coverage, rental car trip interruption protection, and baggage loss coverage.
Hot Tip: If trip cancellation/interruption or trip delay coverage comes with your credit card is adequate for your trip but you want additional medical coverage, the Allianz’s OneTrip Emergency Medical plan may be a viable and affordable supplement.
How Allianz Compares
When it comes to comparing travel insurance policies, it’s difficult to match apples to apples. Coverages vary widely, as well as terms and conditions. The lowest-priced policy is not always the best value for your needs. The flip side is possible, too. You may find a policy with plenty of coverage at a price that is more than you want to spend.
The best solution is when you find a balance between coverage and cost.
Here’s how Allianz’s travel insurance offerings compare with other travel insurance options.
Allianz vs. Credit Card Travel Insurance
The coverage that comes with your credit card does not compare with a comprehensive travel insurance policy. In addition to the limited travel insurance coverage credit cards offer, if you do have a claim, you’ll have the potential hassle of dealing with a third-party claims administrator.
With that being said, the trip cancellation, trip interruption, trip delay insurance, and primary rental car insurance coverages found on several credit cards may be more than adequate for your trip.
Here are some of the best credit cards for these travel insurance coverages:
The Amex Platinum card comes with trip cancellation and trip interruption insurance with a benefit of $10,000 per trip, up to a maximum of $20,000 per account per 12-month period.
Pay for your trip with your eligible card and you, your immediate family, and eligible traveling companions are covered for non-refundable expenses paid to the travel provider. Trip interruption coverage will also reimburse for additional travel expenses incurred due to a covered loss during your trip.
Trip delay coverage is also included on the Amex Platinum card for delays more than 6 hours. Reimbursement for incidentals and eligible incurred expenses is limited to $500 per trip with 2 claims allowed per 12-month period.
The Amex Platinum card also comes with emergency medical evacuation coverage.
For more information, check out our detailed guide to the travel insurance benefits offered by the Amex Platinum card.
Pay for your trip with your eligible card for up to $10,000 in coverage per person, $20,000 per trip, and up to $40,000 in a 12-month period. You and your qualifying immediate family are covered.
You’ll also find primary car rental insurance on the Chase Sapphire Preferred card and the Chase Sapphire Reserve® card.
To learn more about the travel insurance benefits on the Chase Sapphire Preferred card, you’ll want to review this detailed article.
In addition to the same trip cancellation/interruption/delay coverage as the Chase Sapphire Preferred card, the Chase Sapphire Reserve card offers up to $2,500 in emergency dental and medical coverage, emergency medical evacuation.
For more information check out this guide to all of the travel insurance benefits offered by the Sapphire Reserve.
Allianz vs. Other Travel Insurance Companies
Before purchasing any travel insurance policy, it’s wise to compare — fortunately that’s an easy task to execute. With comparison sites such as the ones listed here, you can compare as many as 100 travel insurance policies very quickly and find a policy that fits your situation and budget.
Keep in mind that insurance rates and coverages are highly regulated by the states. Insurance companies file a certain policy for a certain price with the state insurance commission, then the company is allowed to offer that policy, at that price, in that state.
For this reason, you won’t find the same policy offered at different prices. However, you could find a policy that is a better fit and possibly for less money by comparing several companies’ offerings.
Not all comparison sites include Allianz but when comparing similar policies, you’ll find that the company is competitively priced (a few companies lower and many companies higher). Individual results will vary based on your criteria.
Here are 4 websites that allow you to easily compare travel insurance policies.
- Insure My Trip — With over 60,000 customer reviews, 21 highly-rated travel insurance providers, and a best price guarantee, Insure My Trip makes it easy to find the right travel insurance policy.
- Travelinsurance.com — Compare major top-rated travel insurance company policies easily with this licensed online insurance search engine.
- SquareMouth — This popular travel insurance search engine offers easy comparisons of hundreds of policies offered by dozens of highly-rated insurance companies.
- Aardy — AardvarkCompare is a licensed travel insurance company with agents on staff to help you find the right travel insurance policy. Its website allows you to compare the policies of over 30 travel insurance providers.
There are also specialty companies such as World Nomads that do a great job providing travel insurance for active individuals. If you’re into outdoor sports, adventure activities, or even more risky activities such as skydiving, you can find coverage through World Nomads.
Bottom Line: If you’re looking to purchase a travel insurance policy, you’ll want to compare companies and policies. First, look at companies with a strong financial rating, select a policy with coverages that are a priority to you, then select a premium you’re comfortable paying.
Allianz vs. Point-of-Sale Travel Insurance and Protection
Allianz is actually one of the companies that provides the travel insurance you’re offered when you book a flight. An example is displayed in the above image of their offerings when you purchase a Delta Air Lines ticket.
Point-of-sale travel insurance, however, can run from inexpensive options that offer little coverage to expensive options that provide greater coverage but still have limitations, similar to stand-along travel insurance policies.
If you fly once or twice a year, the coverage is adequate for your needs, and the cost is reasonable, you may easily choose to go this route and purchase coverage at the point of sale. However, you may fare better by securing a separate travel insurance quote to compare coverage/cost.
Always read the fine print before purchasing any coverage to ensure you’re getting the coverage you expect. For example, one might assume by looking at this example that canceling the trip would be covered, when in reality the covered reasons are limited.
Bottom Line: Even for point-of-sale travel insurance to cover a single travel purchase, it’s good to get a comparison quote. Securing a quote may save you money while offering broader coverage that could cover your entire trip versus just a portion of it.
Allianz is a solid, established, company offering a nice selection of packaged travel insurance products. Its website is easy to use with a quick quoting function and a simple purchase process. The site is also easy to understand as it is clearly written in plain language rather than legal verbiage.
One downside of Allianz is that the company does not sell Cancel for Any Reason Insurance. This is not an issue if you understand this up front and know that your policy does not allow you to cancel a trip for just any reason. After all, this is the case with most travel insurance — there are specific covered reasons for being able to cancel a trip and have coverage.
Cancel for Any Reason insurance can also result in a premium as much as 70% more than a standard policy, so many travelers may not consider it due to its cost.
If money is not a concern, you can purchase as much insurance as you’d like to have. However, in reality, purchasing travel insurance that works for you involves finding a balance between the coverage you want and the maximum premium you’re willing to pay.
Allianz is a respected company that offers a variety of policy choices with appropriate coverage for the majority of travelers at price points that fit most budgets.
For rates and fees of The Platinum Card® from American Express, click here.
All information and content provided by Upgraded Points is intended as general information and for educational purposes only, and should not be interpreted as medical advice or legal advice. For more information, see our Medical & Legal Disclaimers.