Why are Allianz policies so much cheaper than the others? (2024)

FAQs

Why are Allianz policies so much cheaper than the others? ›

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.

However, Allianz does not offer cancel for any reason (CFAR) coverage with any of its plans, an add-on that many other companies we've reviewed feature. It's also one of the pricier providers we've gathered quotes for, so if you're looking for a budget plan, Allianz may not be a good fit.

Allianz offers a variety of coverages, which makes them appealing for many types of insurance customers. The carrier's extremely rich history and massive size and financial strength clearly demonstrates Allianz's reputability as a trustworthy insurance company with commendable staying power.

With an in-house team of claims handlers and solicitors, Allianz Insurance provide an excellent service in paying claims made under their policies.

The Standard & Poor's rating of AA (Very strong)

AA is the third-highest of 21 possible ratings and was affirmed in March 2023.

Allianz Weaknesses

Heavily dependent on automobile market. Stiff competition with other major players.

We are ranked by Interbrand as the world's #1 insurance brand and the leading global insurance and asset management brand by Brand Finance Global 500. As one of the largest general insurers in the UK, we operate under a number of brands, including Allianz, Pet Plan, LV= and Britania Rescue.

Depending on the incident and type of cover you have, we may organise to repair or replace your car, or pay out your claim. We finalise your claim, to help keep you moving.

We offer you maximum peace of mind and security once you take out a trade credit insurance. As part of the Allianz Group, Allianz Trade is a financially stable and exceptionally reliable partner. Allianz Trade has an AA- rating from Standard & Poor´s. We put a dedicated team at your disposal.

Where does Allianz rank? ›

Among the fastest growing global brands, Allianz moved up three positions to rank 31 in the overall Interbrand ranking of the top 100 global brands. “Our position in the Best Global Brands ranking is the strongest ever.

The parent company, Allianz SE, is headquartered in Munich, Germany. Allianz has more than 100 million customers worldwide and its services include property and casualty insurance, life and health insurance and asset management.

Allianz's operations break down into the following lines of business: Property and Casualty Insurance. Life and Health Insurance. Asset Management.

Health & Life Insurance

Addressing the health and wellbeing protection needs of our clients worldwide, we offer international health, life and disability insurance, as well as a wide range of health and protection services to private individuals, families, organizations and partners.

Upon receipt of the required documents, we will process your claim within 10 business days or within the applicable state requirements.

As soon as your claim is processed, we will make payment; however, please be aware that it may take up to 10 working days for the money to show up in your bank account due to bank transaction timelines.

In most scenarios, travel insurance reimburses you for your covered financial losses after you file a claim and the claim is approved. Filing a claim means submitting proof of your loss to Allianz Global Assistance, so that we can verify what happened and reimburse you for your covered losses.

You'll receive your funds through the payment method you selected when you filed your claim. If for some reason the direct deposit or debit card payment fails to go through (this can happen if your account number is incorrect), you'll receive a check to the address we have on file for you.