Allianz Travel Insurance Review: A Guide to Coverage, Costs, Comparisons and Promo (2024)

When you hear Allianz, you might think of them as the go-to for life and health insurance, but did you know they’re one of the preferred providers for travel insurance too? That’s right. Allianz isn’t just for life’s big milestones; they’re with you on all your adventures too.  

Whether you’re part of Singapore’s BMW crowd (Bus, MRT, Walk) or planning to jet off for that long-awaited holiday, Allianz Travel Insurance has something for everyone. Let’s dive into why this might be the travel insurance you didn’t know you need—but glad to have.

Learn more about our travel insurance rating system.

 

Allianz Travel Insurance—MoneySmart Review (2024)

1. 1. Is Allianz travel insurance safe?
   2. What plan tiers does Allianz offer?
   3. Is Allianz travel insurance coverage worth the price?
   4. How does Allianz handle Covid-19 coverage?
   5. Does Allianz cover extreme sports and outdoor adventures?
   6. What should you watch out for in Allianz’s terms and conditions?
   7. How do you make a claim with Allianz travel insurance?
   8. Allianz vs. FWD—Which travel insurance is better?
   9. Are there any promotions for Allianz travel insurance?
   10. Allianz travel insurance: The bottom line

 

1. Is Allianz travel insurance safe?

With Allianz, you’re buying peace of mind from one of the world’s trusted insurers. Allianz holds an AA rating from S&P Global Ratings. This means they have a strong capacity to meet your financial needs, even during a recession.

Beyond the rating, over 70 million travellers worldwide rely on Allianz for protection. Allianz is a name you can rely on for peace of mind.   

 

2. What plan tiers does Allianz offer?

Allianz offers travel insurance plans to suit every kind of traveller, whether you’re jetting off regularly or planning a single getaway. Here’s a quick breakdown:  

Single Trip Travel Insurance

For those planning single / a few trips this year, Allianz’s Single Trip Travel Insurance is a solid option.   Split into three tiers—Basic, Silver, and Platinum, each plan will provide the right level of coverage for your overseas journey.

• Basic: Starts at $17.50. It covers the essentials—overseas emergency medical, trip cancellation, and basic baggage protection—perfect for simple trips.
• Silver: From $21, this plan provides solid coverage for travellers seeking a reliable safety net. With added benefits like accident coverage, document loss protection, and rental vehicle excess, it strikes the sweet spot between value and protection.  
• Platinum: Starting at $40, this plan is for risk averse travellers who want maximum coverage and plans for the worst case scenario. It’s the ultimate anxiety dispeller.

Other Plans Offered by Allianz

While the Single Trip Travel Insurance is a popular pick, Allianz has more options to cater to different travel needs:  

• Annual Multi-Trip Travel Insurance: If you’re a frequent traveller, this plan is a money-saver. It covers an unlimited number of trips (up to 90 days each) and removes the hassle of buying separate coverage for every journey. Ideal for those always on the move.  
• Family Travel Insurance: Planning a family getaway? The Family Plan has you covered, providing protection for up to two adults and all dependent children under 18 (or under 23 if they’re full-time students). Whether it’s a single trip or an annual multi-trip, this plan ensures everyone is protected, letting you focus on making memories together.

 

3. Is Allianz travel insurance coverage worth the price?

Let’s break down what you’re getting with each plan—Basic, Silver, and Platinum:

Coverage	Basic	Silver	Platinum
Overseas Emergency Medical/Dental	Up to $200,000 Dental: $250 TCM: $200	Up to $500,000 Hospital cash: $1,000 Dental: $250 TCM: $250	Up to $1,000,000 Hospital cash: $2,000 Dental: $250 TCM: $300
Trip Cancellation Coverage	Up to $1,500	Up to $5,000	Up to $10,000
Travel Delay Coverage	–	Up to $1,200	Up to $1,600
Baggage Coverage	Up to $1,000	Up to $3,000	Up to $5,000
Baggage Delay Coverage	$250	$500	$1,000
Emergency Transportation Coverage	Up to $1,000,000 Search & Rescue: $10,000	Up to $1,000,000 Search & Rescue: $10,000	Up to $1,000,000 Search & Rescue: $10,000
Travel Accident Coverage	–	Up to $100,000	Up to $100,000
Loss of Travel Documents	–	Up to $250	Up to $250
Trip Curtailment Coverage	–	Up to $5,000	Up to $10,000
Trip Incident Coverage	–	–	Up to $5,000
Rental Vehicle Excess Coverage	–	Up to $1,000	Up to $1,500
Personal Money Coverage	–	–	Up to $250
Personal Liability Coverage	–	Up to $1,000,000	Up to $1,000,000
Sports Coverage Missed Activity	–	–	Up to $1,500
Sporting Equipment	–	–	Up to $2,500
Sporting Equipment Rental	–	–	Up to $1,000
Sports Coverage Search & Rescue	–	–	Up to $10,000

If you’re crunching the numbers for a one-week trip within Southeast Asia, you’ll notice Allianz’s plans range from $59 to $126, which does put them on the pricier end. To put it in perspective, AIG’s rates are $48 to $125, DirectAsia offers $49 to $68, and FWD is even lower at $43 to $67. 

Despite the higher cost, this is why Allianz could still be the travel insurance you need: 

Protection that spans 240 countries across the world

Allianz doesn’t play by the usual rules when it comes to travel insurance. While other providers might adjust premiums based on where you’re headed, Allianz keeps it simple and global.

No matter where your travels take you, from ASEAN, to the USA, Europe, Africa, and beyond, Allianz has you covered with protection that spans over 240 countries.

 

4. How does Allianz handle Covid-19 coverage?

Even though Covid-19 isn’t the headline it once was, we still need to be cautious. Fortunately, Allianz understands this and includes Covid-19 coverage in their travel insurance plans.

The best of all? You can get it even in their cheapest tier. How does the coverage actually pan out across their different plans? Let’s take a quick look:

Coverage	Basic	Silver	Platinum
Emergency Medical	Up to $200,000 Including Covid-19 medical costs while overseas	Up to $500,000 Including Covid-19 medical costs while overseas	Up to $1,000,000 Including Covid-19 medical costs while overseas
Emergency Transportation	Up to $1,000,000 Includes medical repatriation if needed	Up to $1,000,000 Includes medical repatriation if needed	Up to $1,000,000 Includes medical repatriation if needed
Trip Cancellation	Up to $1,500 If you or a companion get diagnosed with Covid-19 before departure	Up to $5,000 If you or a companion get diagnosed with Covid-19 before departure	Up to $10,000 If you or a companion get diagnosed with Covid-19 before departure
Trip Curtailment/Incident	–	Up to $5,000	Up to $10,000
Travel Delay	–	Up to $1,200 For quarantine during the trip	Up to $1,600 For quarantine during the trip

Whether you’re opting for the Platinum plan or sticking with the Basic option, you’re covered for those unexpected Covid-19 surprises. Honestly, getting up to $200,000 in medical coverage starting from just $17.50 is hard to beat.

 

5. Does Allianz cover extreme sports and outdoor adventures?

For adrenaline junkies, Allianz’s coverage comes with some caveats. Extreme sports and outdoor adventures are only covered under the Platinum plan. Even then, the protection has its limitations. Here’s what you can expect:  

Coverage	When It Applies	Maximum Benefits in SGD
Sports Coverage Missed Activity	If you miss a prepaid activity during your trip.	$1,500
Sporting Equipment	If your sporting equipment is lost, damaged, or stolen while on your trip.	$2,500
Sporting Equipment Rental	If you need to rent sporting equipment when your personal gear is lost, damaged, or stolen while on your trip.	$1,000
Sports Coverage Search and Rescue	If you are reported missing or need to be rescued from a physical emergency while on your trip.	$10,000

 

6. What should you watch out for in Allianz’s terms and conditions?

We know it’s not the most exciting part, but understanding what’s covered—and what’s not—is important. Here are some key points to keep in mind:

• Known Risks: Allianz won’t cover any loss, condition, or event that was foreseeable or expected when you bought your policy. If you knew it might happen, don’t expect a payout.
• Pre-Existing Conditions: Coverage doesn’t extend to pre-existing medical conditions, whether they’re yours, your travel companions, or a family member’s.
• Travel Against Medical Advice: If you’re travelling for medical treatment or against your doctor’s advice, Allianz won’t cover any related issues.
• Baggage Loss: Allianz covers lost, damaged, or stolen baggage, but:
  • You need original receipts or proof of purchase for full reimbursement.
  • Without receipts, Allianz covers only 50% of the replacement cost.
  • You must file a police report for theft and report lost devices to your network provider to block them.

 

7. How do you make a claim with Allianz travel insurance?

Filing a claim with Allianz is straightforward and fully digital:

1. Submit Your Claim Online: Head to Allianz’s online portal—it’s quick and user-friendly.
2. No Originals Needed: Just snap a photo or scan your documents and upload them. Keep the originals for six months in case they’re needed later.
3. Three Simple Steps: Enter your details, upload your documents, and provide your bank info for payment.

If you run into any issues, Allianz’s support team is ready to help. And keep in mind, each claim is different, so processing time may vary.

Email: [email protected]

Phone: +65 6327 2210

 

8. Allianz vs. FWD—Which travel insurance is better?

When it comes to travel insurance, the choice often boils down to the coverage details. Here’s how Allianz and FWD’s top plans differ where it counts:

Coverage	Allianz Platinum	FWD First
Emergency Medical Evacuation & Repatriation	Up to $1,000,000	Unlimited
Trip Cancellation and Loss of Deposit	Up to $10,000	Up to $15,000
Baggage Delay	Up to $1,000	Up to $900
Theft of/Damage to Baggage or Personal Belongings	Up to $5,000	Up to $7,500
Overseas Medical Expenses	Up to $1,000,000	Up to $1,000,000

In a nutshell, both Allianz and FWD deliver solid coverage, but FWD’s First plan edges out in areas like trip cancellation and baggage protection. Meanwhile, Allianz holds its ground with strong medical evacuation coverage. Your pick depends on which perks matter most to your travels.

 

9. Are there any promotions for Allianz travel insurance?

Looking to save big on your next travel insurance plan? Allianz has some fantastic promotions running right now that you won’t want to miss.

For starters, get an exclusive 57% off your policy premium when you apply via MoneySmart. Then, get over S$130 worth of rewards including:

• Up to S$45 via PayNow with eligible premiums spent
• S$30 Revolut cash reward
• Up to S$20 iShopChangi vouchers
•  S$30 Trip.com Hotel Coupon
• Eskimo Global 1GB eSIM (worth S$9.50) with every policy purchased.

On top of those, score S$100 Revolut cash reward in our giveaway!

Apply via MoneySmart by 6 Nov 2024 to qualify. T&Cs apply.

 

10. Allianz travel insurance: The bottom line

Overall, Allianz Travel Insurance offers something for everyone, but your choice should align with your specific travel needs and risk tolerance. Whether you’re a casual traveller or a thrill-seeker, there’s a plan designed to keep you covered, but make sure to consider the details to find the best fit.

 

About our scale and rating system

• We compiled the prices and coverage limits for over 50 travel insurance plans from 18 different providers in Singapore in a massive spreadsheet.
• For each price/coverage category (e.g. trip cancellation, travel delay, etc.), we determined the minimum, median, and maximum values across all travel insurance plans. These values then form scales showing the lowest, highest, and average price/coverage amounts for different travel insurance plans in Singapore.
• Finally, we plotted where each travel insurance plan stands on those scales and assigned a star rating for the provider based on the results.

Star rating and description	Visual example
★☆☆☆☆ 1 star: All plans under that provider perform average or lower than average, and 1 or more plans is the worst performing. / If there is only 1 plan, it is the worst performing.	1 star:
★★☆☆☆ 2 stars: All plans under that provider perform average or lower than average, but none of their plans is the worst performing. / If there is only one plan, it performs below average. OR see 3 star rating below for penalty star scenario.	2 stars: 2 stars (3 stars – penalty star):
★★★☆☆ 3 stars: All plans under that provider perform between the minimum and maximum. / If there is only one plan, it performs average. – Add a bonus star if one of the plans is the best in Singapore. – Deduct a penalty star if one of the plans is the worst in Singapore.	3 stars:
★★★★☆ 4 stars: All plans under that provider perform average or above average, but none of their plans is the best performing. / If there is only 1 plan, it performs above average. OR see 3 star rating above for bonus star scenario.	4 stars: 4 stars (3 stars + bonus star):
★★★★★ 5 stars: All plans under that provider perform average or above average, and 1 or more of their plans is the best performing. / If there is only 1 plan, it is the best performing.	5 stars:

NOTE: These are flipped for the Price component—for this, the lower the better.

 

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