If you’re a frequent traveler, sooner or later your number will come up and something is going to go wrong. Even if you lead a charmed life and don’t go for extreme sports, there will be an accident, lost luggage, a canceled flight, or a medical emergency at some point. Can you say with confidence that you’re covered?
With an annual travel insurance policy, you can say yes with confidence.
Many travelers either take their chances and go uninsured or assume that their credit card has them covered. While the former strategy may work most of the time, one big issue can offset a decade’s worth of travel insurance premiums. The credit card strategy will work for some aspects of your trip but not for others. Are you confident you know the ins and outs of the pages of fine print? Do you read that fine print carefully every time your card issuer makes changes? (I’ve gotten three packets with changes from Chase and Amex in the past 60 days.)
Others buy travel insurance inconsistently depending on how expensive the trip, how far they’re going, or whether they’re in an optimistic mood or not when booking. If there’s an option in the check-out process and the insurance seems reasonable, maybe they’ll buy it, Or maybe not.
While gambling may be a lot of fun at a casino destination, you know that the house is going to win the majority of the time. The travel industry is going to win every time too, especially when it comes to compensation from U.S. airlines. So if you gamble that nothing bad will happen, you could suffer a big loss.
What You Get With an Annual Travel Insurance Policy
If you purchase an annual travel insurance policy from a well-known company like Allianz Global Assistance, you’ve got non-stop peace of mind. Whether on a two-week grand vacation or a quick business trip, you’re covered. Across the country or across the world, you’ve got someone to call if disaster strikes.
Allianz offers three different levels of annual policy service: Basic, Prime, or Executive. Using a 60-year-old Florida resident as an example, prices range from $125 per year to $495 per year. The lowest level does not include trip cancellation or trip interruption compensation, Only the Executive level offers business equipment coverage, business equipment rental, and change fee coverage—line items that matter a lot more to business travelers than vacationers.
Otherwise, here’s what you get (in varying maximum payout levels) from all plans in an annual policy:
+ Emergency Medical/Dental Coverage ($20K to $50K)
+ Emergency Medical Transportation ($100K to $250K)
+ Baggage Loss/Damage
+ Baggage Delay
+ Travel Delay
+ Travel Accident Coverage
+ Collision/Loss Damage Insurance
+ 24-Hr Hotline Assistance
Keep in mind that if you go on a luxury tour in Latin America or elsewhere, there’s a good chance your tour company will ask for your travel insurance policy information. This is especially true if there is any kind of adventure activity involved. You don’t have to add “research travel insurance” to your to-do list before taking off if you’ve got the same policy all year.
See this article for more information or to get a personalized quote online for your age, state, and start date.
This post is sponsored by our advertising partner Allianz Global Assistance (AGA Service Company) and we have received financial compensation from the company. As always, all opinions are our own.