Travel Insurance Review Period Definition (2024)

Last updated on 03/28/2023

Travel Insurance Review Period Definition (1)The review period is a defined period of time, usually about 10 days, within which travelers can review their travel insurance policies after buying. It’s essentially a grace period that allows you to get acquainted with the policy you have purchased, make sure that you fully read and understand your coverage, and make any adjustments necessary. Generally, if your policy allows a review period, you can also cancel your policy during this time and receive a refund.

Rights and Responsibilities

Yes, you have the right to amend and even cancel your policy during the review period; however, you also have the responsibility to be sure you truly understand the terms of the policy in full. If you don’t understand something to your satisfaction, you should contact the company and ask as soon as possible. Being diligent about your own research now can save you from frustration due to a misunderstanding about your coverage later.

Changes to your policy

While there are some changes that you can make to your travel insurance policy up until the day you depart on your trip, there are other changes that cannot be made once you’ve purchased; for example, you can’t add or remove a traveler from your policy once you’ve bought it. Make sure you give information as accurately as possible when you purchase a travel insurance plan so that you don’t have to go back and amend things. Also, some changes – like a radical change to your destination – may actually change your premium cost.

Disclaimer: The information contained in this article serves as a general overview of benefits and should only be used for informational purposes. Refer to your individual certificate of insurance for specific coverages, exclusions and benefits. When in doubt, please contact one of our licensed agents for additional assistance.

Travel Insurance Review Period Definition (2024)


Travel Insurance Review Period Definition? ›

It's essentially a grace period that allows you to get acquainted with the policy you have purchased, make sure that you fully read and understand your coverage, and make any adjustments necessary. Generally, if your policy allows a review period, you can also cancel your policy during this time and receive a refund.

What is the review period for travel insurance? ›

What if I bought the wrong travel insurance plan, and I want to switch to a different one? If you're still within the 15-day review period (and you haven't left or filed a claim), you can cancel the plan you purchased and then buy a new one. After the 15 days is up, you can't cancel or switch your plan.

What is the review period for Allianz? ›

Review period

If you're not completely satisfied, you have 15 days (or more, depending on your state of residence) to request a refund, provided you haven't started your trip or initiated a claim. Plans are non-refundable after this period.

What does look back period mean in travel insurance? ›

Travel insurance companies impose a “look-back period,” which is a specific time frame when a pre-existing condition is considered stable, usually between 60 and 180 days. To qualify for a waiver, your condition must be stable within this period, meaning it has not changed or worsened.

What is the time period for travel insurance? ›

Coverage period of multi-trip insurance policies

Note that in case of multi-trip insurance policy, your insurer provides coverage only for a certain number of days at a particular destination which varies across policies. While some policies can offer coverage up to 90 days, others can extend it to 180 days.

Is it better to buy travel insurance early or late? ›

In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you'll be protected and the more benefits you may be eligible to receive.

What is the free look period for travel insurance? ›

Fortunately for these situations, travel insurance plans have what is called a “free look period,” in some plans it's called a “money back guarantee.” Whether it's called a free look period or a money back guarantee it is a short duration, typically 10 days in most plans, but can be up to 14 or 15 days in other plans.

Why is Allianz so cheap? ›

Allianz policies are often significantly less expensive than other policies for trips longer than 30 days, because they have a different pricing structure than most providers. Length of trip is one of the determining factors of a policy's premium. In most cases, the longer the trip, the more expensive the policy.

How long does Allianz travel insurance take to process a claim? ›

4. Select payment type. Finally, indicate if you prefer direct deposit, debit card or check payment. Note that it takes 7-10 days for Allianz Global Assistance to review and process your claim information.

Does Allianz give full refund? ›

For a full refund of your premium, you must cancel within 15 days of your plan purchase (depending on your state of residence) and must not have filed a claim or departed on your trip. Premiums are non-refundable after this period.

Can travel insurance deny pre-existing conditions? ›

While most travel insurance policies exclude pre-existing conditions from medical expenses and evacuation coverage, you may be able to obtain coverage with a pre-existing conditions waiver.

Is high blood pressure a pre-existing medical condition? ›

Yes, however high blood pressure is a pre-existing condition that is automatically covered by most policies at no additional charge unless it's caused by another condition, like cardiovascular disease or diabetes.

What is the pre-existing condition review period? ›

The time period during which a health plan won't pay for care relating to a pre-existing condition. Under a job-based plan, this cannot exceed 12 months for a regular enrollee or 18 months for a late-enrollee.

Can I buy travel insurance 3 days before trip? ›

While you'll likely get better coverage if you buy a policy soon after making an initial payment on your trip, it's still possible to buy a plan if your trip is days away — or if you've already departed.

Does travel insurance get more expensive closer to the trip? ›

Unlike other aspects of your travel experience like airfares or hotel-room rates, the price of travel insurance doesn't increase the closer you get to your travel date. There's no financial penalty if you wait to buy travel insurance (except for those bonus coverages, of course).

What is the best travel insurance company? ›

Learn more about each of our top travel insurance companies, including the average policy costs our team determined by examining and averaging quotes for four unique trips.
  • Faye. Our Top Pick. ...
  • Travelex. ...
  • Nationwide Travel Insurance. ...
  • Tin Leg. ...
  • Berkshire Hathaway Travel Protection. ...
  • Seven Corners Travel Insurance. ...
  • AIG Travel Guard.
5 days ago

Is there a time limit on travel insurance claims? ›

Is there a time limit on travel insurance claims? You should notify us of a claim as soon as possible. You can do this online or by calling 0333 333 9702 (1). All claims, however you make them, should be submitted within 60 days of returning from your trip.

What is the 15 day look period? ›

If you purchase a travel insurance plan, you'll have between 10 and 15 days to review the plan and cancel it without having to pay penalties or surrender charges. This period of time is called the free-look period, and it can be a beneficial form of consumer protection.

How often do you need to review insurance policies? ›

You should review all of your insurance needs at least once a year. If you have a major life change, you should contact your insurance agent or company representative.

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