Reading a travel insurance policy might not be high on everyone’s “things to do before a trip” list, and perhaps understandably so. It might not even rank alongside the books and magazines one might want to read while on holidays or during a long flight.
However, a travel insurance policy is an important legal document, which hopefully should nudge it to the top of your holiday “must-read” list.
To help you familiarize yourself with your Allianz Global Assistance administered policy and navigate it more easily, here are few things to zero in on as you read it:
1. The Summary of Benefits and Important Notices sections
For an overview of what your travel insurance plan includes, review the introductory pages of your policy. The Summary of Benefits provides a high level summary of the specific coverages included in your policy as well as the monetary limits for each type of coverage. You’ll find information on who the underwriter and assistance providers are for your policy, and how to reach them if you need to make a claim. The introductory section also outlines Important Notices related to your coverage, including eligibility requirements.
2. The Table of Contents
The Table of Contents is an excellent tool to familiarize yourself with the structure of your policy. The Table of Contents will outline each benefit included, along with links to descriptions of coverage, what is covered, and what isn’t covered, for each benefit. From the Table of Contents, you can easily jump between benefit sections, as well as to the Definitions and General Exclusions for your policy.
3. What to do in an emergency and how to file a claim
Early in your policy, you’ll find a brief section that provides instructions on what to do if you experience a travel emergency, including when and how to reach Allianz Global Assistance. You’ll also find an overview of how to file a claim with a link to more detailed claims filing instructions at the back of your policy.
4. Descriptions of Coverage and “What is Covered”
Each benefit within your policy will have a “Description of Coverage” section, which outlines the intended coverage of the benefit as well as the dollar limits. Following the “Description of Coverage”, the “What is Covered” section lays out the specific situations that your policy covers for that benefit. Most benefits will include additional supplemental benefits with secondary dollar limits, so it’s a good exercise to review each of these sections to understand the full range of coverage available to you.
5. Exclusions and “What’s Not Covered”
Travel insurance does not cover everything. Your policy outlines the situations that are excluded for each benefit within sections titled “What’s Not Covered.” These sections clarify the scenarios in which each benefit would NOT be payable.
For some benefits, the “What is Not Covered” will also outline if there is a pre-existing condition exclusion, and how it applies to that specific benefit.
Lastly, any General Exclusions that apply to all benefits will be listed in a separate section of your policy called…you guessed it… General Exclusions. It’s important to review these General Exclusions to understand any limitations of your coverage.
Throughout your policy, you’ll encounter certain words that are in bold italics. These are defined terms. You can review the specific definition for each term within the “Definitions” section at the back of your policy.
With the above understanding of how the key sections of your policy are organized, we hope you’ll walk away after reading your policy feeling more informed and prepared to navigate any surprises that may arise on your travels.
Our Promise to You: All travel insurance plans offered by Allianz Global Assistance include a 10-day "Free Look" period. If you are not satisfied with your coverage after reviewing your Policy of Insurance, you may cancel your policy within 10 days from purchase for a full refund, provided you have not left on your trip or initiated a claim.
Travel insurance does not cover everything. Please refer to the policy wording for full terms and conditions, including limitations and exclusions. Travel insurance is underwritten by CUMIS General Insurance Company, a member of The Co-operators Group of Companies and administered by Allianz Global Assistance. Allianz Global Assistance is a registered business name of AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd. Please note that remuneration may be payable to the distributor of this insurance.
Rates are subject to change.