Annual Travel Insurance Poilicy

[Anonymous]

I’m considering an annual travel insurance policy (probably through Allianz) for the year ahead. Depending on options, it looks like the cost will be $300-$500.

There are benefits for canceled flights, family medical, and medical evacuation.

In the year ahead, I have plans for two international trips, a cruise and several cross-country weddings. And I have parents in their 90s and might need to cancel trips for their emergency needs.

Does anyone have experience with an annual travel insurance policy?

[Anonymous]

Sorry, no experience with annual travel policy. Only tip is to look at Nationwide. I think Allianz is a reseller of nationwide insurance.

[Anonymous]

Never heard of it, but my policies for just one trip are more than that, so I'd be skeptical. Is it cancel for any reason?

[Anonymous]

There are several options for cancelation and medical evacuation.

I have medical insurance that works overseas, but I like the idea of medical evacuation coverage.

I’m going to check on the cancel for any reason.

[Anonymous]

How is it possibly so inexpensive? We have an extensive trip to Asia planned this year and the insurance estimates I gave received are 7-10% of the cost of the trip.

[Anonymous]

Anonymous wrote:How is it possibly so inexpensive? We have an extensive trip to Asia planned this year and the insurance estimates I gave received are 7-10% of the cost of the trip.

Likely age. Senior costs get marked up.

[Anonymous]

We have one through Allianz - i think it’s great! It saves me the trouble and expensive being nickel and dime for every trip, but I am appreciate the Security blanket of knowing the coverage is there. I have had it for two or three years and always end up making some claims. I travel a lot for my kids sports and inevitably get stranded a night here or there due to weather.

Make sure you read the fine print and understand all the policy limits, but it is great. I feel so much better about anytime I book something non refundable.

I haven’t yet had to make a major claim (over $500), but so far the claim process and customer service at Allianz has been seamless. Just save all your receipts and make an online claim when you get home.

[Anonymous]

I’m the OP and I’m 64 so I don’t think I am getting much of an age discount.

Thank you to 05:39 for the experience notes!

[Anonymous]

OP here adding — it seems that hotel and flight cancelation coverages are in the area of $3000 for the year.

The medical evac is closer to $50K.

It is the calculated (actuarial) differences that make this fairly cheap.

[Anonymous]

I have one and the limits are per year. I figured that if I ever reached the limits before the year was up I could just buy an individual trip policy if I had more trips. I loved the peace of mind and convenience of not having to get a new one every trip.

[Anonymous]

I had a client who had one of these. She bought it for several big trips she had planned. Then she was in Staunton, VA for a grandkid's tournament of some sort and broke her ankle, ended up making a claim of some sort and getting payment. That was the first time I ever heard of anything like that.

[Anonymous]

We purchased the same sort of policy from the same company.

Haven’t used it yet and hope we don’t have to. But moving forward we intend to have an annual plan. Also trying to get my parents to buy into ‘something’ as they are aging and getting more adventurous with travel.

We are in the Galapagos for two weeks and there is a man at the hotel shuffling around d because he hurt his foot on a tour yesterday. He mentioned that he doesn’t want the bill of getting check out, which is ridiculous, esp for Ecuador.

[Anonymous]

If you get the Chase Sapphire Reserve credit card, you have free travel insurance on anything you book on the card (including primary car rental insurance). I had to file a claim once for canceling a trip due to death in family and it was fine.

[Anonymous]

Anonymous wrote:Never heard of it, but my policies for just one trip are more than that, so I'd be skeptical. Is it cancel for any reason?

Cancel for any reason policies are a waste of money. They are super expensive and even still only refund 50-75% of costs.

OP's price quotes sound normal to me for annual insurance, but are definitely not CFAR. Nobody should waste their money on CFAR. The list of "covered reasons" is pretty extensive and if you think you will cancel for a reason not covered, don't book the trip.