The most frequent question I am asked when speaking at travel shows is: Should I buy travel insurance? The answer all depends on what you are buying and where you are going. I say, if you are just buying a $150 ticket from Los Angeles to San Francisco and staying with family, I wouldn’t get it. However, if you’re spending a lot of money on a hotel, cruise, honeymoon, safari, going far from home or travel often like I do, then I definitely would.
I highly recommend getting travel insurance from a third party. That’s because if you buy insurance, let’s say, for a cruise from a cruise line and they go out of business, then you, my friend, are out of luck.
I also recommend first pricing out rates with InsureMyTrip.com since they are the Kayak of travel insurance. They have 27 suppliers but the company I usually go with is Allianz Travel Insurance since they are the giant in the travel insurance business. Allianz is competitively priced but even if they cost a little more, I would go with them, because they have offices in 44 countries that span six continents so chances are they will have people on the ground no matter where you are in the world. That right there gives me peace of mind.
What else gives me peace of mind is knowing that if I have to cancel my trip due to a sudden, unforeseen circumstance like a death in the family or losing my passport, or God forbid I get sick or injured while I’m away, I know that I’m covered.
Here are some of things that Allianz Travel Insurance will provide. This information comes directly from my plan:
1. Finding a doctor, dentist or medical facility
If you need care from a doctor, dentist or medical facility while you’re traveling, we can help you find one.
2. Paying or guaranteeing your hospital bill
If you need to be admitted to a hospital as an inpatient for longer than 24 hours, we can guarantee or advance payments up to the limit of your emergency medical/dental coverage.
3. Monitoring your care
If you’re hospitalized, our medical staff will stay in contact with you and the doctor caring for you. We can also notify your family and your doctor back home of your illness or injury and update them on your status.
4. Moving you to a hospital or medical clinic (emergency medical evacuation)
If you’re seriously ill or injured during your trip and our medical team determines that the local medical facilities are unable to provide appropriate medical treatment:
5. Finding a legal advisor
We can help you find local legal advice if you need it while you’re traveling.
6. Arranging a cash transfer
If you need to pay legal fees, we can arrange to transfer funds from your family or friends.
7. Replacing lost travel tickets
If your tickets are lost or stolen, we can contact the airline or other common carrier, and can help you with your travel arrangements if your trip is interrupted.
8. Replacing lost passports and other travel documents
If your passport or other travel documents are lost or stolen, we can help you reach the appropriate authorities, contact your family or friends, and assist you in getting your documents replaced.
9. Getting flight information
If you miss your flight or it’s canceled, we can give you arrival and departure times for other flights that will get you to your connecting flight or final destination.
10. Getting emergency cash
If your cash is lost or stolen or you need extra money to pay for unexpected expenses, we can arrange to transfer funds from your family or friends.
11. Delivering emergency messages
We can help you get an urgent message to someone back home. We’ll try calling up to three times within 24 hours and confirm whether we were able to reach the person you asked us to contact.
They even have a concierge service that can assist customers with many requests from the routine to the extraordinary like restaurant and local event information to golf tee times.
The list about what Allianz Travel Insurance can do goes on. So far, I’ve been nothing but pleased with their insurance offerings, coverage and service.
My Annual Executive Plan costs $459 and below is what is covered and the coverage limits in USD:
- Baggage Coverage $1,000.00
- Baggage Delay Coverage $1,000.00
- Business Equipment Coverage $1,000.00
- Business Equipment Rental Coverage $1,000.00
- Collision/Loss Damage Insurance $45,000.00
- Change Fee Coverage $250.00
- Emergency Medical and Dental $50,000.00
- Trip Cancellation Protection $5,000.00
- Travel/Trip Delay Coverage $1,500.00
- Trip Interruption Protection $5,000.00
- Travel Accident Coverage $100,000.00
Disclaimer: I sometimes work as an ambassador for Allianz Global Assistance (AGA Service Company) and receive financial compensation. However, everything written in this post is from and based upon my own annual policy.
Hi Johnny, The Allianz link above is not working. I wanted to give you credit, for buying their insurance. I am also going to purchase the yearly Medjet from the link that you posted. Thank you
Hi Barbara
Thanks for letting me know. I will fix the link to just https://www.allianztravelinsurance.com/ (they don’t have an affiliate program anymore)
Hi Johnny, this is a few years after you wrote this article, but found it while I’m researching travel health insurance – – – you note in the comments that you have the Allianz and also the MedJet (MedJet looks great and based on your comment I’ve signed up for an annual basic membership) – my question is why would one carry both – Allianz seems superfluous if you have MedJet ? Would love your opinion, thank you – – –
MedJet is added protection and will take you to the hospital of your choice
Because Johnny Jet recommended it, I decided to try Allianz for my next trip. However, after 3 days and waits on hold for up to 2 hours, I still have no travel insurance. And I press #2 for sales. If the wait for sales is over 2 hours, I can’t imaging the wait for Customer Service or someone having a problem. And might I suggest to Allianze that if you are experiencing “”Higher than normal call volume” 24/7, that isn’t higher than normal call volume, that is normal call volume.
Sorry Johnny Jet, but this recommendation is a fail.
I bought Allianz Travel Insurance when I booked rooms for my 94 year old father to go to his Harvard Reunion a few years ago. He wasn’t feeling 100%, so he decided not to go. I went to cancel the rooms several weeks before the reunion festivities and Allianz would not refund our money.
Johnny: The first time I tried to apply, I was unable to obtain insurance, because of the state I lived (OR). Are there still restrictions for residents of certain states? Thanks, Rich
Hi Rich, I confirmed with Allianz that you should be able to purchase an annual policy in the state of Oregon. If you want them to email you let me know or email them at Help.Team@allianzassistance.com
What if you have a heart attack and have a large illness claim. Didn’t see any coverage for illness.
For every “feel good” story about Allianz there is a “horror” story. Mine is a denial of coverage when a French company cancelled a bike and barge trip. We got the cost of the actual trip refunded by the French company which owned the boat but not a penny for the flight and hotel fees (all non-refundable). Allianz claimed that there was no coverage for the acts of the French government in cancelling the boat’s permit to operate. What BS but typical. Not enough at stake to file a claim, especially since the flights were booked with ff miles. However, I do buy a policy of annual insurance for health reasons but I buy it from Blue Cross. We have had some claims and they have always come thru for us.
John, I really beg to differ with you about the service and availability of Allianz. I have always purchased travel insurance but never Allianz. And after dealing with an international medical accident and Allianz recently I NEVER WILL BUY ALLIANZ. My travel companion, an experienced hiker, fell in Bhutan and fractured her hip. Connectivity is difficult there, but reaching someone in Boston was extraordinarily frustrating. While she was sitting in a hotel room with a fractured hip I was trying to get through to the medical line. After being disconnected and calling back the agent who tried to connect me said the Medical line hung up on him because we did not have a claim number. A claim number was promised in 5 minutes, but not received in 2 days. Another call from Bhutan connected me with a representative who said I must fill out an online form to get that claim number. Explaining I was working with a phone and limited connectivity, I asked if she would please download it and email it to me. She said she could not do that. (I learned later it is no longer on the web site and that (after 6 agents and 6 days) I actually needed the needed the 7 digit “medical” claim number rather than the 10 digit claim number) Fsst forward, after we paid to get the front row on a small plane flight to Delhi, India and CAR transport to Hospital (unaided and no offer of air evac by Allianz) the hospital experience itself was good for her total hip replacement. However getting medical clearance before Allianz would reschedule our flights home took WAY too long. “you will have to wait until your case manager comes in in 9 hours” They called the surgeon 3 times the day after she was discharged, and we were back in a hotel room. I set the alarm to call at 2:30 am Delhi time so I could speak with the travel department, and they finally had our reservations – will almost all. They had missed my flight to my home. Shockingly after emailing and calling less than 10 hours before our flight, they were UNAWARE that at many international airports one MUST have a printed or screenshot of the air itinerary to enter the airport property (including Delhi). They did finally email me one. AND the representative had no idea what Global Entry was when I asked to have my “known traveler number” added. I hope their reimbursement process works better.
READ YOUR POLICY. I did and saw this: travel insurance is meant to protect travelers against sudden and unforeseen events — not threats that are already on the horizon when the insurance is purchased. If you buy travel insurance after a winter or tropical storm is named, your plan won’t provide coverage for claims related to that event. Link: Check out this article on allianztravelinsurance.com: https://www.allianztravelinsurance.com/travel/trip-cancellation/trip-cancellation-claim-denied.htm