Allianz Insurance Review (February, 2024) – Pros, Cons, Features & Pricing

In this Allianz Insurance review, we’ll unearth why so many people choose Allianz Travel Insurance. Many Canadians purchase travel insurance to safeguard themselves should something occur while travelling that they didn’t anticipate.

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Last Updated: Feb 18, 2024

Allianz Travel Insurance

  • Award-winning 24/7 assistance
  • A worldwide network of prescreened hospitals
  • Protection for trip cancellation to medical bills abroad

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However, many people who want to move in and out of the state choose Allianz Insurance.

Allianz is popular for offering two travel insurance plans: single-trip and annual/multi-trip. Their travel insurance plans include protection for trip cancellation, late departures, trip delays, emergency medical expenses, and legal expenses.

There is an option to improve coverage options with additional safeguards.

In this Allianz Insurance review, we will examine their product offerings and discover the quality of their services. We would examine the advantages and disadvantages related to Allianz Insurance. This guide will provide the information you need to decide if Allianz travel insurance is best for you.

What makes Allianz Insurance a good option?

You might wonder what makes this insurance company a good option. For one, the company has a good reputation, and its policies offer a wide range of coverage. In this part of our Allianz insurance review, we will explore why this company stands out:

Reputation

Allianz Assurance is a German financial institution concentrating on diverse insurance fields for businesses and individuals. Established in 1890, the organization has continued developing and extending its service offerings internationally.

With a global presence, Allianz is famous within the travel insurance sector.

Canadians have been able to get travel insurance from Allianz Global Assistance for more than 30 years. It has operations centres in 44 countries and a network of more than 900,000 care providers.

Multiple Plan Options

Allianz provides a wide selection of travel insurance policies, split between single-trip, annual/multi-trip, and rental car policies. The single-trip policy has five different travel insurance packages, one of which is focused on providing emergency medical coverage.

On the other hand, the annual or multi-trip plan offers four different plans. Some of these plans are best for those looking to take several yearly trips. For example, the AllTrips Premier plan can cover an entire family for a year of travel.

The rental car package is essential to mention in this Allianz Insurance Review. Its package offers coverage for primary accidents, losses, and damage and 24-hour emergency help in most states. With so many options, Allianz Travel Insurance provides solutions so you can find one that meets your needs.

Wide Insurance Coverage

Allianz provides various travel coverage plans to keep you and your personal items secure while travelling. Allianz can help you obtain reimbursement of your funds or go to the place you are going if your journey is called off or disturbed.

If you fall ill or are harmed during your travels, Allianz can assist you in handling the payment for medical care.

Moreover, Allianz can assist you in obtaining a substitute for your items in case your baggage goes missing or is stolen. Besides, if you must get transported to a healthcare centre while travelling, A company can help you reach your destination. The company can give continuous aid in case of any problems while travelling.

Price

Insurance for travel from Allianz is generally reasonably priced. Travel insurance costs depend on factors such as travel expenses, age, and the amount of protection you decide on.

For instance, the emergency medical plan called OneTrip pays for up to $50,000 during emergencies. Additionally, it ensures coverage up to $10,000 for any mishaps during your travels. The insurance policy does not insure against trip cancellations or travel delays.

allianz travel insurance review - comparewise

Pros and cons of Allianz Travel Insurance

Like other travel insurance providers, Allianz presents advantages and disadvantages. It’s crucial to highlight these points in our Allianz Insurance review. This will assist you in making a well-informed decision.

The pros of Allianz Travel Insurance

Travel Insurance by Allianz is a reputable and esteemed supplier of travel insurance. We provide a range of solutions to match diverse necessities and monetary circumstances. Here are some of the pros outlined in our Allianz Travel Insurance review:

Simple Plans

Allianz Trip Protection provides three easy options: single-trip and annual travel insurance. It makes identifying the suitable strategy for your necessities straightforward. A few of these options are customized for professionals and frequent travellers.

Multiple Insurance Types

Allianz provides various insurance coverages, including trip cancellation, medical emergency insurance, baggage protection insurance, and travel interruption or delay insurance. It is possible to enhance policies to increase coverage.

Protect Special Items

Some Allianz insurance policies can protect special belongings if misplacement or harm occurs. Moreover, insurance policies cover expensive assets such as bracelets, sculptures, and rare items. These consist of various types of jewellery, presents, and anything else you consider suitable to incorporate into the list.

Rental Car Plan

Allianz gives a self-contained plan for renting cars. This is beneficial to avoid the pricey package offered by the rent-a-car company.

The package it offers gives coverage for major accidents, losses, and harm. Additionally, the rental car plan delivers all-day emergency assistance across most states.

Personal customer support team.

Based on your chosen travel insurance option, Allianz has the potential to give dedicated concierge support for your benefit. These individuals can assist you with travel, fun activities, transport and staying arrangements. You could utilize these services using their hotline 1-800-654-1908, which operates 24/7.

The cons of Allianz Travel Insurance

All travel insurance providers have imperfections, and Allianz Travel Insurance is no exception. Let’s explore the cons in this section of our Allianz Travel Insurance Canada review:

No Coverage for cancellation without any specific reason

A significant disadvantage of this travel insurance provider is the nonexistence of protection for cancelling for any reason. You may not receive compensation if you must revoke the journey for an uncovered cause.

Nevertheless, you could receive compensation if you possess a justified explanation protected by your travel insurance policy. Several other insurance companies offer this extra coverage. This offers improved freedom and a feeling of calm for tourists.

Moreover, the difficulty of getting quotes through online platforms and the obligation to use a travel agent can be inconvenient for clients searching for this type of safeguard.

Low medical limit

Allianz Travel Coverage Plans offer comparatively low coverage limits of $50,000. Equivalent policies provide over $100,000 under the plan. The restriction can be alarming for holidaymakers who prioritize comprehensive health insurance. Particularly when going to states with expensive medical expenses.

Lack of customization options

Using Allianz Vacation Insurance, you lack the option to personalize your protection. Alternatively, you have a limited selection to pick from the plans they have already created. It may be a drawback for people who travel who need specific protection or who like to customize their coverage to accommodate their individual context.

Higher cost compared to other providers

Allianz Travel Coverage is recognized as costlier than other travel insurance companies. For financially cautious tourists, this might be a significant disadvantage. Particularly when alternative companies supply matching assurance with a better price tag.

Allianz Insurance products and services

Allianz Global Assistance offers a range of travel insurance products and services to provide coverage and assistance during your trips. Let’s discuss each type of coverage in this section of our Allianz insurance review:

Emergency Medical Insurance

This coverage is designed to protect you if you become ill or sustain an injury during your trip. It includes coverage for emergency medical expenses such as doctor and hospital bills, medication, lab work, and medical evacuations.

If you end up hospitalized, emergency medical insurance can also take care of the expenses associated with organizing a bedside companion. The coverage limits vary based on the plan you choose.

Trip Cancellation Insurance

Suppose you must cancel your trip for a covered reason, such as your or your travelling companion’s illness, severe weather conditions, or job loss.

If such a situation arises, the trip cancellation insurance can compensate the prepaid, non-refundable expenses. This can include costs like flights, accommodations, tours, and other pre-booked activities.

Baggage Insurance

Baggage insurance offers protection for your personal belongings while travelling. Suppose your luggage is lost, stolen, or damaged during your trip. In that case, this coverage can reimburse you for the depreciated value of your suitcases and the items you packed.

It can also provide coverage if your checked bags are delayed, compensating you for essential items you must purchase until they are returned.

Travel Interruption or Delayed Insurance

In an emergency that requires you to return home early from your trip, Trip Interruption Insurance can take care of the expenses of a sudden return flight. Additionally, it can reimburse the part of your trip that was not used.

It can also compensate you for non-refundable expenses incurred during the interruption, such as activities or hotel stays. Additionally, if your trip is delayed, this coverage can reimburse necessary expenses like meals and accommodation during the delay.

Travel Accident Insurance

Travel Accident Insurance provides coverage for extreme incidents that occur during travel, such as death. It also covers dismemberment cases, such as loss of limbs or eyesight.

Flight accident insurance covers injuries sustained on a commercial plane, during a connection, or within an airport. Travel accident insurance covers death or dismemberment, such as losing limbs or eyesight, while travelling.

Travel Assistance

Besides insurance coverage, Allianz Global Assistance offers travel assistance services. These services can assist you with travel-related issues such as lost passports, flight cancellations or delays, and medical emergencies.

Travel assistants can help with language translations, locating suitable medical facilities, and arranging transportation. They can also assist with entertainment and event planning, accommodations, and transportation arrangements.

Allianz Insurance product and service quality

When it comes to insurance, having a reliable and trustworthy provider is crucial. Allianz Global Assistance stands out due to its high-quality products and services. Here’s why many customers trust Allianz for their insurance needs:

One key aspect differentiating Allianz is its good claims process. Customers have reported that the company is responsive to claims and processes them efficiently. This means that when you need to make a claim, you can expect a prompt and fair resolution from Allianz.

Although the company has a separate website for different types of insurance, navigating the Allianz Global Assistance website for travel insurance options is very straightforward.

Their website is intuitively designed for ease of use. This lets you quickly access the required information and purchase a policy without complications. Whether you’re a first-time customer or a seasoned traveller, the intuitive interface makes the insurance selection process straightforward.

Another aspect contributing to Allianz’s reputation is its commitment to providing excellent customer service. With all their plans, you can access a 24/7 assistance hotline, ensuring that help is just a phone call away.

Allianz’s dedicated customer service representatives are readily available if you have questions or concerns or encounter any issues during your travel.

In this Allianz insurance review, it’s important to mention that Allianz’s travel insurance is underwritten by CUMIS General Insurance Company, which is part of The Co-operators Group of Companies. This partnership ensures the financial stability and credibility of Allianz’s insurance offerings.

Allianz Global Assistance is the registered business name AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd. operate under. They have established a reputation for themselves by offering professional and trustworthy services.

How to get started with Allianz Travel Insurance

Trip insurance represents one of the simplest protection policies to acquire an estimate. Afterward, it is effortless to obtain an agreement. You just enter basic details regarding your journey, years, place of residence, and an estimate.

This section of our Allianz insurance review will provide a step-by-step guide to help you get started with Allianz travel insurance:

Step 1

Visit the Allianz website and look for “Our Plan” at the top menu

Step 2

View plans are organized based on single trips, yearly/multi-travel, and a rental car plan. After you have chosen the plan you desire, click “Request a Quote.”

Step 3

Enter the necessary travel information on the next page to see which schemes are accessible to you in your state. This includes the travel destination country, departure date, travellers’ ages, residential state, and complete trip expenses.

Note that there is zero risk since you’ll have an evaluation period. During this period, you can examine the plan’s details and choose to retain them. If you decide otherwise, a full refund is available for you.

The duration may be ten to fourteen days post-purchase, contingent upon the specific plan and the rules set by your state.

Alternatives to Allianz Insurance

It’s always a good idea to consider more than one option when looking to get an insurance policy. This is true because some companies offer better policies than others, and you wouldn’t find out if you didn’t explore your options.

With this Allianz insurance review coming to an end, let’s consider some other alternatives.

Manulife CoverMe

Manulife CoverMe is a comprehensive travel insurance option for individuals with pre-existing conditions in Canada. It offers coverage for transportation, health services, and emergency medical expenses of up to $10 million. It’s suitable for families, students, and visitors.

Pros

  • Multi-Trip Availability: Manulife CoverMe offers options for multi-trip coverage, providing flexibility and convenience for frequent travellers.
  • No Age Restrictions: Unlike some travel insurance providers, Manulife CoverMe does not impose age restrictions, allowing individuals of all ages to obtain coverage tailored to their needs.
  • Easy-to-understand Options: The insurance plans provided by Manulife CoverMe are designed to be user-friendly, making it simpler for individuals to comprehend and select the appropriate coverage.
  • COVID-19 Travel Plan: Manulife CoverMe offers a dedicated travel plan that includes coverage for COVID-19-related expenses, providing peace of mind during these uncertain times.
  • Family and Student Coverage: Manulife CoverMe extends its coverage to families and students, ensuring their specific needs are met when travelling.

Cons

  • Lack of 24/7 Support: Unlike some other travel insurance providers, Manulife CoverMe does not provide round-the-clock customer support, which could be a drawback for individuals requiring immediate assistance in emergency situations.
  • No Rental Car Insurance: Manulife CoverMe does not include rental car insurance in its policies, which may be a disadvantage for travellers relying on rental vehicles during their trips.

TD Travel Insurance

TD Insurance provides up to $5 million in medical benefits, 24/7 emergency help, and travel medical coverage for dependent children on family plans. Choose from single-trip, multi-trip, all-inclusive, and trip cancellation policies.

Pros

  • Coverage for Pets and Dependent Children: TD Insurance provides coverage for pets and dependent children, ensuring their well-being during your travels.
  • Trip Cancellation and Interruption Plans: TD Insurance offers plans that include coverage for trip cancellation and interruption, safeguarding your financial investment in case unexpected circumstances arise.
  • Comprehensive Medical Coverage: TD Insurance covers various medical expenses, including hospital accommodation, transportation, and medical treatments.

Cons

  • No Coverage for Flight Delays or Travel Accidents: TD Insurance does not provide coverage for flight delays or travel accidents, which could be a disadvantage for those who prioritize such coverage.
  • No Rental Car Insurance: TD Insurance does not include rental car insurance in its policies, so individuals relying on rental vehicles during their trips may need to seek separate coverage.

CIBC Travel Insurance

Among the Canadian Imperial Bank of Commerce’s (CIBC) extensive financial offerings are its comprehensive travel insurance.

This insurance safeguards you and your loved ones while journeying beyond your province or even abroad. Co-operators Life Insurance Company, alongside The Sovereign General Insurance Company, are CIBC’s travel insurance underwriters.

Pros

  • Reputable Insurance Provider: CIBC is a well-established and respected insurance company that ensures reliability and trustworthiness in its travel insurance offerings.
  • $10,000,000 Emergency Medical Coverage: CIBC travel insurance provides extensive coverage for emergency medical expenses, offering financial security and peace of mind during your travels.
  • Comprehensive Dental Insurance: In addition to medical coverage, CIBC travel insurance includes wide-ranging dental insurance, addressing oral health needs while you are away.
  • Online Quote and Purchase: CIBC provides the convenience of obtaining quotes and purchasing travel insurance online, making the process efficient and accessible.

Cons

  • Medical Health Questionnaire for Individuals Over 60: Individuals aged 60 and above must complete a medical health questionnaire when applying for CIBC travel insurance. It may involve additional steps and potential evaluation of their health status.
  • No Distinct Coverage for Students or Snowbirds: CIBC travel insurance does not offer specialized coverage tailored specifically for students or snowbirds, which may be a limitation for travellers falling into these categories.

Allianz Insurance review conclusion

While many insurance companies provide travel insurance, it’s essential to do proper research about your insurer.

This Allianz insurance review has provided insightful information about their coverages and plans. Having read this, you are now better equipped to make an educated choice regarding Allianz travel insurance.

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FAQs about our Allianz Insurance review

What types of travel insurance plans does Allianz offer?

Allianz provides a range of travel insurance plans, starting with single-trip plans. They also have annual or multi-trip plans available. Finally, they offer rental car plans for those renting vehicles.

How long has Allianz been providing travel insurance in Canada?

Allianz has been providing travel insurance in Canada for more than 30 years.

Does Allianz offer coverage for trip cancellations and delays?

Yes. Allianz offers coverage for trip cancellations, trip delays, and travel interruptions as part of their travel insurance plans.

What is the price range for Allianz travel insurance?

Allianz travel insurance costs are influenced by various elements, including your total travel costs and age. Additionally, the extent of coverage that you select will impact the final price.

Does Allianz offer coverage for rental cars?

Yes. Allianz offers a rental car plan that provides coverage for accidents, losses, and damage and 24-hour emergency assistance in most states.

What are the different types of coverage offered by Allianz Insurance?

Allianz Insurance offers coverage for emergency medical expenses, trip cancellation, baggage insurance, travel interruption or delay, travel accident insurance, and travel assistance.

How can I get started with Allianz Travel Insurance?

To get started with Allianz Travel Insurance, you can visit their website and select the type of plan you need (single-trip, annual/multi-trip, or rental car). Next, enter the necessary travel information. You'll get a quote from Allianz, which you can accept if it meets your needs and purchase a policy.

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Allianz Travel Insurance

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July 24, 2023
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