Travel Tip: Buy Travel Insurance When the Trip is Booked

I see it all the time. Guests dealing with baggage delays, medical issues, or other emergencies while they are on a trip. Not only does it cost them time, but most often it is the financial cost that really ends up really being deceptively and unexpectedly high.

Of course, one hopes that there are never any issues when one plans a trip—but life is life, and things happen. Because of all the different challenges and mishaps I have seen guests face, as I concierge, travel insurance is a no brainer. What can be a minor cost upfront, can save thousands later.

Buying travel insurance can be tricky. It is sometimes seen as an extra cost that many don’t want to factor into their vacation fund. And if you’re like me, trying to plan ahead when you don’t know how much you are going to travel, where you are going to travel to, and what you will need factors into making buying travel insurance daunting.

Buy Travel Insurance When Booking Your Trip

Keep it easy. Buy travel insurance when you are booking your trip with your travel provider—aka, the airlines directly, OTAs (online travel agents), and travel agents.

Gone are the days of buying standard, one-size-fits-all insurance. Now, when you book with a travel provider, Allianz Global Assistance offers travel protection that best matches your unique trip.

Allianz is changing the way they offer travel insurance, and I think we will see businesses in many industries take a page out of their book. More than offering a blanket cost for a single trip (which we have seen for years), Allianz Travel Insurance is using machine-learning algorithms to offer travel insurance based specifically on a trip.

What does this mean?

Travel Insurance Tailored to Your Travel Concerns

Instead of paying a larger amount for travel insurance to cover all possible scenarios, Allianz is using travel data to offer protection on what you are most likely use. So now when you buy travel insurance when you are booking your trip, you are buying protection that covers the most common concerns based on the type of trip—tailoring it to be the most cost-effective and appropriate for you.

Factors like length of trip, destinations, layovers, weather trends, number of people traveling, and more, influence potential coverage options.  The end result: Travel protection that is tailored to cover the most common concerns for your trip AND the most cost-effective. When purchasing travel protection while booking, travelers will now only pay for what they will likely use.

Different Factors That Influence Travel Insurance Coverages

Here are a few examples of variables and how they affect insurance offerings:

  • Time of year: Trips booked to occur during the winter or hurricane season may be more likely to experience weather events that could cause a missed connection or delay.
  • One-way VS round-trip VS multi-city trips: Travel plans with multiple stops are more likely to experience delays and baggage issues. Alternatively, one-way trips may not require post-departure benefits, such as emergency medical coverage.
  • Travel destination: Depending on your destination, emergency medical costs will vary. For example, when dealing with medical providers in international destinations, they often require payment upfront for hospitalizations or other medical situations. A larger travel insurance company (like Allianz Global Assistance) can cover payments to medical providers so medical attention is not delayed and so customers won’t get stuck paying expensive medical bills out of pocket.
  • Business VS leisure travel: The reason for travel influences different needs. For example, business travelers might require more coverage for equipment that they are traveling with.
  • The size of the group: The more people traveling, the greater the chance of a trip interruption or cancellation. The right travel insurance policy can protect against those losses.
  • The age of travelers: Travelers planning trips with children or older adults will have different needs than other travelers. Cancellation coverage, coverage for medical emergencies, and emergency medical transportations become even more important.
  • Trips purchased with miles: This is a big one for me as I have used miles to book travel—only to have my plans change and lose everything. Now a policy can be purchased to cover the fee to redeposit frequent flyer miles if the trip is canceled. This saves money over the cost of a policy that includes traditional cancellation coverage.

In short, you are purchasing trip protection that best applies to your trip and not just for the sake of buying comprehensive coverage.

Allianz Wins in Consumer Satisfaction, Personalization is King

But in a time when consumers are more knowledgeable than ever before, they want the most personalized product they can get. Personalization is the key to great customer service—something which I can speak on at length. Seeing how Allianz Global Assistance is fine tuning their coverage offerings during the booking process is indicative of the level of service they strive to provide. And that travelers should and will see.

This post is sponsored by Allianz Global Assistance. Although I use them as my travel insurance provider, this post is reflective of my thoughts and opinions. Check them out when you are booking your next trip, it will likely be the best policy for your trip!  #TravelHappy.

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