Provider Comparison

Allianz vs Travel Guard vs Travelex - 2025 Comprehensive Comparison

Head-to-head comparison of the three largest travel insurance providers in the U.S. market, including coverage, pricing, claims, and customer service.

1/15/202511 min readProvider

The Big Three of U.S. travel insurance

Allianz, Travel Guard (AIG), and Travelex dominate the American travel insurance market, collectively insuring millions of trips annually. But which one actually offers the best coverage?

This guide compares their flagship comprehensive plans side-by-side to help you make an informed decision.

Quick comparison overview

Feature	Allianz OneTrip Prime	Travel Guard Preferred	Travelex Travel Select
Best for	Families, flexible coverage	Luxury travelers, high limits	Budget-conscious, good value
Trip cancellation	100% of trip cost	100% of trip cost	100% of trip cost
Trip interruption	150% of trip cost	150% of trip cost	150% of trip cost
Emergency medical	$50,000	$100,000	$50,000
Medical evacuation	$500,000	$500,000	$250,000
Baggage loss	$1,000	$1,500	$1,000
CFAR available	✅ Yes (+40%)	✅ Yes (+40-50%)	✅ Yes (+35-40%)
Pre-existing waiver	14 days	14-21 days	14-21 days
24/7 assistance	✅ Yes	✅ Yes	✅ Yes
Typical cost ($4k trip)	$240-$320	$280-$360	$220-$300

Company backgrounds

Allianz Global Assistance

Founded: 1896 (Allianz), U.S. travel insurance since 2003
Parent company: Allianz SE (German multinational, Fortune 500)
Market position: #1 in U.S. travel insurance by policies sold
Strengths: Brand recognition, mobile app, customer service
AM Best rating: A+ (Superior)

Travel Guard (AIG)

Founded: 1971 (Travel Guard brand)
Parent company: American International Group (AIG)
Market position: #2 in U.S. market, strong with luxury travelers
Strengths: High coverage limits, concierge services, corporate travel
AM Best rating: A (Excellent)

Travelex Insurance Services

Founded: 1997
Parent company: Cover-More Group (Australia)
Market position: #3-4 in U.S. market, competitive pricing
Strengths: Value pricing, comprehensive plans at lower cost
AM Best rating: A (Excellent) - underwritten by Berkshire Hathaway

Detailed plan comparison

Allianz OneTrip Prime

Coverage limits:

Trip cancellation: 100% of trip cost
Trip interruption: 150% of trip cost
Emergency medical: $50,000
Emergency dental: $750
Medical evacuation: $500,000
Baggage: $1,000 ($250 per item)
Travel delay: $1,200 (after 6 hours)

Unique features:

Rental car damage: Up to $50,000 (rare among travel insurers)
Concierge services: Travel planning, reservations, local recommendations
ID theft resolution: Assistance if identity stolen while traveling

CFAR option: AllTrips Premier plan with CFAR

Covers 50% of trip cost if you cancel for any reason
Must purchase within 14 days of first trip payment
Adds ~40% to premium cost

Pre-existing condition waiver:

Must purchase within 14 days of first trip payment
Must insure 100% of prepaid, non-refundable trip costs
Must be medically able to travel when purchased

Pricing example ($5,000 Europe trip, 2 weeks):

OneTrip Prime: $300-$375
AllTrips Premier (with CFAR): $420-$525

Pros:

✅ Rental car damage coverage (saves $15-30/day on rental fees)
✅ Excellent mobile app for claims and assistance
✅ Fast claim processing (industry-leading)
✅ Strong customer service reputation

Cons:

❌ Lower medical coverage ($50k) compared to Travel Guard
❌ $250 per-item baggage limit (can be low for electronics)
❌ 14-day pre-existing waiver window (shorter than competitors)

Travel Guard Preferred

Coverage limits:

Trip cancellation: 100% of trip cost (no maximum!)
Trip interruption: 150% of trip cost
Emergency medical: $100,000
Emergency dental: $1,500
Medical evacuation: $500,000
Baggage: $1,500 ($400 per item)
Travel delay: $1,500 (after 6 hours)

Unique features:

Adventure sports rider: Optional coverage for skiing, scuba, more
Supplier default coverage: If tour operator/cruise line goes bankrupt
Concierge services: Premium service for luxury travelers
Business equipment: Covers laptops, equipment for business travelers

CFAR option: Optional add-on

Covers 75% of trip cost (higher than Allianz's 50%!)
Must purchase within 14-21 days of first trip payment
Adds ~40-50% to premium

Pre-existing condition waiver:

Must purchase within 14-21 days (more flexible than Allianz)
Must insure 100% of trip costs
Must be medically able to travel

Pricing example ($5,000 Europe trip, 2 weeks):

Preferred Plan: $350-$425
Preferred Plan with CFAR: $490-$638

Pros:

✅ Highest medical coverage ($100k vs $50k)
✅ 75% CFAR reimbursement (vs 50% with Allianz)
✅ Higher baggage per-item limits ($400 vs $250)
✅ Longer pre-existing waiver window (21 days)
✅ Excellent for luxury/expensive trips

Cons:

❌ Most expensive of the three
❌ Claims processing can be slower than Allianz
❌ Adventure sports require additional rider (extra cost)

Travelex Travel Select

Coverage limits:

Trip cancellation: 100% of trip cost
Trip interruption: 150% of trip cost
Emergency medical: $50,000
Emergency dental: $500
Medical evacuation: $250,000
Baggage: $1,000 ($250 per item)
Travel delay: $750 (after 12 hours)

Unique features:

Sports equipment: Covers rental/loss of ski, golf, dive equipment
Pet coverage: Up to $500 if you need to board pet due to trip delay
Terrorism coverage: Included on all plans
Good Student Discount: 10% off for students with 3.0+ GPA

CFAR option: Optional add-on

Covers 75% of trip cost
Must purchase within 21 days of first trip payment
Adds ~35-40% to premium (most affordable CFAR)

Pre-existing condition waiver:

Must purchase within 14-21 days
Must insure 100% of trip cost
Must be medically able to travel

Pricing example ($5,000 Europe trip, 2 weeks):

Travel Select: $275-$350
Travel Select with CFAR: $371-$490

Pros:

✅ Best value - lowest cost with comparable coverage
✅ 75% CFAR reimbursement at lower price than Travel Guard
✅ Pet boarding coverage (unique perk)
✅ Sports equipment coverage (good for ski/golf trips)
✅ Student discounts available

Cons:

❌ Lower medical evacuation ($250k vs $500k)
❌ Travel delay requires 12 hours (vs 6 hours for others)
❌ Lower dental coverage ($500 vs $750-$1,500)
❌ Smaller brand, less name recognition

Price comparison across scenarios

Scenario 1: Budget trip ($2,500 Caribbean vacation, 7 days, age 35)

Allianz OneTrip Prime: $150-$187 Travel Guard Preferred: $175-$213 Travelex Travel Select: $138-$175

Winner: Travelex (lowest cost)

Scenario 2: Luxury cruise ($10,000 Mediterranean cruise, 14 days, age 55)

Allianz OneTrip Prime: $600-$750 Travel Guard Preferred: $700-$850 Travelex Travel Select: $550-$700

Winner: Travelex (best value), but Travel Guard offers highest medical limits

Scenario 3: Family trip ($8,000 Europe trip, 2 adults + 2 kids, 12 days)

Allianz OneTrip Prime: $320-$480 (family coverage) Travel Guard Preferred: $400-$560 Travelex Travel Select: $280-$440

Winner: Travelex for budget, Allianz for rental car coverage (valuable in Europe)

Scenario 4: Adventure trip ($6,000 New Zealand, skiing + hiking, age 28)

Allianz OneTrip Prime: $360-$432 Travel Guard Preferred: $420-$510 + adventure rider ($50-$100) Travelex Travel Select: $330-$420

Winner: Allianz or Travelex (depends on specific activities; Travel Guard requires separate rider)

Claims experience comparison

Allianz

Claim approval rate: ~85-90% (industry estimate) Average processing time: 15-30 days Customer satisfaction: 4.1/5 (Trustpilot average)

Process:

File claim online via mobile app or website
Upload documents (receipts, medical records, etc.)
Receive confirmation within 24-48 hours
Decision within 15-30 days
Payment via check or direct deposit

Strengths:

Fast processing (industry-leading)
Excellent mobile app
Clear communication throughout process

Weaknesses:

Some users report low-ball settlement offers
May require extensive documentation

Travel Guard

Claim approval rate: ~80-85% (industry estimate) Average processing time: 30-45 days Customer satisfaction: 3.8/5 (Trustpilot average)

Process:

File claim online or via phone
Assigned dedicated claim adjuster for large claims
Submit documentation (often requires original receipts)
Review and decision within 30-45 days
Payment via check

Strengths:

Dedicated adjusters for complex/large claims
Willing to negotiate settlements
Professional, thorough process

Weaknesses:

Slower processing than Allianz
Can be bureaucratic for simple claims
Sometimes requests excessive documentation

Travelex

Claim approval rate: ~80-85% (industry estimate) Average processing time: 20-35 days Customer satisfaction: 3.9/5 (Trustpilot average)

Process:

File claim online
Upload supporting documents
Acknowledgment within 48 hours
Decision within 20-35 days
Payment via check or direct deposit

Strengths:

Reasonable processing times
Straightforward process
Good communication

Weaknesses:

Mixed reviews on claim approvals
Some users report denials on technicalities
Less responsive customer service than Allianz

Customer service comparison

Allianz

24/7 hotline: Yes, U.S.-based
Average wait time: 3-8 minutes
Mobile app: ⭐⭐⭐⭐⭐ (best in industry)
Online portal: Excellent
Language support: 15+ languages

Travel Guard

24/7 hotline: Yes, U.S.-based
Average wait time: 5-12 minutes
Mobile app: ⭐⭐⭐⭐ (good)
Online portal: Very good
Language support: 20+ languages

Travelex

24/7 hotline: Yes, U.S. and international call centers
Average wait time: 8-15 minutes (longer than competitors)
Mobile app: ⭐⭐⭐ (basic functionality)
Online portal: Good
Language support: 10+ languages

Winner: Allianz for customer service and technology

Which wins in each category?

| Category | Winner | Reason | |----------|--------|--------| | Lowest price | Travelex | 10-20% cheaper on average | | Highest medical limits | Travel Guard | $100k vs $50k | | Best CFAR | Travel Guard / Travelex | Both offer 75% reimbursement | | Best for families | Allianz | Rental car coverage, mobile app | | Best for luxury travel | Travel Guard | Highest limits, concierge service | | Best for seniors | Travel Guard | Higher medical coverage, longer pre-existing window | | Best customer service | Allianz | Fastest response, best app | | Best value | Travelex | Comparable coverage at lowest price | | Best claims process | Allianz | Fastest processing, modern tech | | Best for cruises | Travel Guard | Supplier default, high limits | | Best for adventure | Allianz | Included coverage without riders |

Final recommendations

Choose Allianz if you:

Want the best mobile app and customer service
Are renting a car (rental coverage included)
Value fast claim processing
Are a family traveling together
Want a recognized, trusted brand
Don't mind slightly lower medical limits ($50k)

Choose Travel Guard if you:

Are taking an expensive/luxury trip ($10,000+)
Want highest medical coverage ($100k)
Need 75% CFAR reimbursement
Are a senior traveler or have health concerns
Want concierge services
Can afford the premium pricing

Choose Travelex if you:

Are budget-conscious but want good coverage
Want 75% CFAR at lowest price
Are traveling with pets
Are bringing sports equipment (ski, golf, dive)
Want solid coverage without premium price
Don't need highest medical limits

Hybrid approach:

Some travelers use:

Travelex for base coverage (best value)
Credit card benefits for rental car coverage (if not choosing Allianz)
Separate medical evacuation policy (if concerned about limits)

Common questions

Q: Which has the best coverage for cruise travel? A: Travel Guard - includes supplier default (if cruise line goes bankrupt), highest limits, and comprehensive cruise-specific coverage.

Q: Which is best for international travel to expensive medical markets (Europe, Japan)? A: Travel Guard - $100k medical coverage vs $50k (important if hospitalized in Switzerland, Norway, etc.)

Q: Which processes claims fastest? A: Allianz - industry-leading 15-30 day average, with excellent mobile app for tracking.

Q: Which offers the best value for money? A: Travelex - 10-20% cheaper with comparable coverage to Allianz, includes useful perks like pet boarding and sports equipment.

Q: Can I stack policies from multiple providers? A: Technically yes, but most policies have "coordination of benefits" clauses. One will be primary, the other secondary (only pays after primary exhausted). Usually not cost-effective.

Q: Which is best for families with kids? A: Allianz - rental car coverage (huge savings in Europe), excellent mobile app for tracking family members, family-friendly customer service.

Red flags to watch (all three providers)

🚩 All three exclude coverage for:

Travel against State Department warnings (Level 3/4)
Pre-existing conditions (without waiver and proper timing)
Injuries during illegal activities
Alcohol or drug-related incidents
Known hurricanes/named storms (if you buy after they're named)

🚩 Rental car coverage limitations (Allianz):

Excludes luxury vehicles, vans, trucks
Not available in all countries (check list)

🚩 Adventure sports riders (Travel Guard):

Extra cost for skiing, scuba, climbing
May require advanced purchase
Depth/altitude limits apply

🚩 Medical evacuation triggers (all providers):

"Medically necessary" as determined by insurer's doctor
They may not evacuate for comfort or preference
Must be to "nearest adequate facility" (not necessarily home)

Next steps

Use the comparison tool to get real-time quotes for your specific trip
Read real claim scenarios to see how each provider handles actual claims
Check customer reviews for recent experiences
Review policy documents carefully before purchasing

All three are reputable providers with solid coverage. Your choice should depend on your trip type, budget, and priorities. For most travelers, Travelex offers the best value, Allianz has the best experience, and Travel Guard provides the highest limits.