Allianz Travel Insurance Overview

If you feel like you’ve heard of Allianz Travel Insurance, you may be right. Allianz is the travel insurance provider of choice for many U.S.-based airlines, including American Airlines and United Airlines. What you might not know is that Allianz also offers a full set of travel insurance plans direct to consumers, with a full set of benefits which covers more than flights.

Before your next trip, should you consider buying an Allianz travel insurance policy? Here’s everything you need to know about Allianz Travel and the plans available to consumers.

What is Allianz Travel Insurance?

Based out of Berlin, Allianz was founded in 1890 and offered marine and accident policies to Germans. Three years later, the company would expand to London, where they offered transport insurance to Germans traveling abroad. Over the next 40 years, the company would continue to expand throughout Europe, the Middle East, and into the United States, expanding beyond casualty insurance and into specialty lines. Their earliest forms of insurance included home invasion insurance, and machinery breakdown insurance.

Throughout history, Allianz provided insurance for many major projects. Some of their accolades include insuring the Wright Brothers’ first flight in Kitty Hawk, North Carolina, and underwriting the construction of the Golden Gate Bridge.

Today, the company stands as the largest financial services group in the world, and was rated by Forbes as the largest company by composite measure. Across divisions, the company holds over $1 trillion in assets, diversified in banking, real estate, securities, and insurance products. On their travel side, Allianz sells over 30 million travel insurance policies annually, and provides specialty products for airlines, tour organizers, and even the AAA. The company is also the worldwide insurance partner for the Olympic and Paralympic Games.

Allianz Travel Insurance Options

Allianz Travel Insurance offers three main types of travel insurance policies for travelers: single trip plans, multi-trip (or annual) plans, and specific plans for rental cars. Each option provides a specific level of coverage based on the traveler’s needs.

Allianz Single Trip Travel Insurance

Allianz single trip options are the traditional travel insurance policies, which cover one single trip a traveler may go on. Although the company offers three full-coverage plans with coverage for trip cancellation, trip delay, and baggage loss, Allianz also has two specialty lines for budget-minded travelers. OneTrip Cancelation plus only covers trip cancellation and trip interruption events, while OneTrip Emergency Medical only provides emergency medical benefits for emergency sickness or injury.

Allianz Annual/Multi-Trip Travel Insurance

As the name suggests, Allianz’s annual plans cover multiple international trips an individual may take. The company offers three different plans ranging from basic to prime coverage, increasing benefit levels based on a traveler’s budget.

Allianz Rental Car Travel Insurance

In addition to traditional travel insurance plans, Allianz offers after-market rental car damage coverage. While the rental car policy covers up to $40,000 in collision damage and can prevent motorists from filing a claim with their auto insurance company, the plan may only offer coverage for cars rented within the United States.

What’s Covered Under a Typical Allianz Travel Insurance Plan

Allianz offers multiple policies, each offering a different level of coverage for frequent travelers. As a result, the benefits may vary between policies. Before deciding on which one is right for your needs, be sure to read the fine print to understand which situations may be covered, and which ones may be excluded. For the traditional travel insurance plans — including their single- and multi-trip policies — travelers can expect to be covered for trip cancellation, trip delay, and baggage loss.

• Trip Cancellation: It’s impossible to plan for the unexpected, such as a serious illness prior to departure, the death of a family member, or an accident on the way to the airport. If one of these situations happens to you, trip cancellation could help you recover up to 100 percent of your non-refundable costs, such as airfare, tour costs, and event tickets.
• Trip Interruption: If a covered event forces you to come home early — such as the death of a family member or a natural disaster — you may be forced to pay out-of-pocket for emergency flights. Trip interruption benefits can reimburse you for those costs, giving you peace of mind in the midst of a crisis. Coverage ranges between 100 percent and 150 percent of the total trip cost, depending on the plan.
• Trip Delay: Inclement weather and irregular operations can delay flights, forcing you to miss connections or even stay overnight in a city far from home. If your trip is delayed by six hours, you could get reimbursed for meals or a hotel room. Benefits range from a maximum of $300 in the OneTrip Basic plan, to a benefit cap of $2,000 with their OneTrip Premier plan.
• Baggage Delay: If you arrive at your destination, but your bags don’t, how would you cover your incidentals until the bags arrive? If your bags are delayed by at least 12 hours, baggage delay benefits may reimburse you for anything you may need, including phone chargers and toiletries. Benefit maximums range from $500 to $2,000.
• Emergency Transportation: When far from home, a serious injury could make returning home a dangerous prospect. If you need a medically required transport (such as an air ambulance), emergency transportation coverage can help you not only find a provider, but also pay for their services. Benefit levels range from a maximum of $50,000 to $1 million.

Are There Additional Coverage Options?

Depending on which plan you choose, there are two additional add-on options you can purchase. Allianz Travel insurance offers an optional upgrade for a rental car damage protector, and required to work benefits.

• Rental Car Damage Protector: The rental car damage protector is the same policy offered as a stand-alone product by Allianz Travel Insurance. This add-on plan covers many of the common situations car renters may face, including up to $40,000 of collision damage.
• Required to Work: If your employer forces you to report to work instead of taking your trip, required to work coverage could reimburse you for costs associated with trip cancellation or trip interruption. This add-on benefit is only available on the OneTrip Prime single trip plan.

How to Buy Allianz Travel Insurance

Although you can purchase Allianz Travel Insurance from your travel provider, those policies are specifically written for those situations. While they may cover situations related to your flight or other travel, they may not offer comprehensive travel insurance coverage. If you are interested in shopping across Allianz’s plans, you would be best served by shopping on their website.

To start your quote, you will need to decide what type of coverage you need: Single trip insurance, annual travel insurance, or rental car insurance. For a single trip policy or rental car coverage, you will need to provide:

• Your primary destination country
• Travel dates
• Ages of everyone traveling together
• State of residence for all travelers
• Total trip cost

For an annual policy, you will only need to provide the travel insurance start date, the age of the single covered traveler, and their place of residence.

If you decide to purchase an Allianz travel insurance plan, you will be required to submit personally identifiable information. Allianz will ask for the following:

• Names and dates of birth for all covered travelers
• The primary insured’s address, city, state, and ZIP code
• Telephone numbers
• Phone number and e-mail address

To pay for your policy, Allianz accepts all major credit cards. Once you submit your payment information, your trip will be covered instantly.

How Will I Get my Travel Insurance Documents from Allianz?

As with every major travel insurance provider, documents are provided electronically. Travelers can expect to receive their paperwork in their e-mail box once the purchase is complete.

Allianz Online Security

Transactions on the Allianz Travel Insurance website are protected by SHA-256 SSL technology, meaning data is encrypted and secure. The security certificate is issued by Amazon.

Allianz Travel Insurance Reviews and Ratings

Because Allianz does not sell their travel insurance products through the major marketplaces (including Squaremouth and InsureMyTrip), there are no reviews from their customers. However, Allianz Travel Assistance is accredited by the Better Business Bureau, and holds an A+ rating with the consumer advocacy organization. As of March 2021, the BBB closed 460 complaints over the last 12 months, and a total of 778 in the past three years.

On review website Trustpilot, Allianz Global Assistance has an “excellent” rating, with an average review of 4.5 stars out of five from over 14,000 reviews. ConsumerAffairs.com gives Allianz Global Assistance a rating of four stars out of five, based on over 600 ratings over the last 12 months. The complaints on both websites revolve around the communication during the claims process, and speed of claim payments.

From a financial perspective, the insurance benefits are underwritten by either BCS Insurance Company or Jefferson Insurance Company. BCS Insurance Company holds an A- (Excellent) rating with A.M. Best, while Jefferson Insurance Company has an A+ (Superior) rating.

Pros and Cons of Allianz Travel Insurance

Pros:

• Multiple options for all types of travelers, including medical only, cancellation only, and annual insurance options
• Extended coverage for change fees or loyalty program redeposit fees
• Add-on coverage for international rental car damage and required to work doverage

Cons:

• Multiple products can create confusion for travelers, requiring careful attention to the plan benefits and limits
• No pre-existing waiver or cancel for any reason benefit add-on coverage
• Reduced benefit maximums compared to similar products in class

Final Thoughts on Allianz Travel Insurance

When shopping for travel insurance, Allianz should be one of the companies that are top of mind. With their variety of products for all budgets, ranging from single trip coverage to annual insurance plans, there’s a plan for everyone.

However, because Allianz offers multiple insurance plans, it’s critical to understand what you are purchasing, and the benefits that come with it. Furthermore, travelers should always shop directly through Allianz to qualify for the most benefits across their entire trip. Before purchase, be sure to read the entire document, so you can get clarity on what is and is not covered.