When you rent a car, it pays to research rental car insurance. You also want to research the best insurance companies so you can get as much value for your money as possible. One of the top-rated rental car insurance companies is Allianz.
As one of the oldest and largest insurance companies in existence, Allianz offers affordable insurance solutions to travelers both in the U.S. and abroad. The company specializes in travel insurance, life insurance, and annuities. Allianz doesn’t sell regular auto insurance; instead, it covers rental cars through its travel insurance plans. If you’re looking to travel soon, consider checking out the Allianz travel package. Let’s discuss more about Allianz and its rental car insurance coverage options.
History of Allianz
Two insurance specialists, Wilhelm Finck and Carl Thieme, founded Allianz in Munich, Germany. The company was primarily a transport and accident insurer. By World War I, Allianz was providing insurance to people worldwide, and by 1973, it had become Europe’s largest insurer. Over the next 30 years, Allianz expanded into Asia and North America, becoming one of the world’s largest insurance companies. Today, the company boasts over 152,840 employees and $138.6 billion in sales. Its headquarters remain in Germany.
Allianz is available in most states in America but offers different coverage in different states. For instance, Allianz’s travel insurance policies do not cover theft and rental car damage in New York, Texas, and Kansas.
What is Rental Car Insurance?
Rental car insurance is a type of coverage designed to protect you against financial losses if you get in an accident in a rental car. Rental car insurance primarily covers damage, theft, and third-party coverage. A rental car policy limits the costs that your rental company will charge you for damage to the vehicle. Theft coverage protects you in case of theft or damage to the rented car during a theft attempt. Third-party coverage protects you if the rented vehicle injures another person, hits another car, or causes property damage.
Allianz Rental Car Insurance: What Does it Cover?
Allianz car insurance’s OneTrip Rental Car Protector covers collision and damage up to $75,000. This policy comes with 24/7 roadside emergency services. The company recommends purchasing a collision damage waiver before renting a car. Doing so helps you save money and prevents you from buying additional coverage that you don’t need. Remember that Allianz is just one of many rental car insurance companies in America. It’s your duty to do your research and compare quotes.
Allianz’s OneTrip Protection offers specific coverages. They include:
- Trip Interruption coverage: Reimburses the non-refundable, unused portion of your trip and any increased transportation costs as you return home if you have to cut short your trip due to a covered reason.
- Collision damage waiver: Covers costs related to car theft or damage in a covered accident regardless of whether you were driving, parked, or left the vehicle unattended.
- 24-hour hotline assistance: Allianz offers a multilingual emergency help team available 24 hours a day to help you resolve issues with your rented vehicle and other emergencies you might experience during your travel.
- Baggage Loss or damage: Covers theft or damage to your personal items. This coverage is not available to residents of all states.
What is the Cost of Allianz Rental Car Insurance?
Allianz’s rental car insurance starts at $11 a day. However, these rates vary based on factors such as:
- The type of car you’re renting
- Your driving history
- Where you’re renting the car
- How far you plan to drive the car
- How long you intend to have the car
- The type and amount of coverage you need
Each type of coverage costs between $1 and $30. If you were to buy all of them, you could spend up to $60 per day on coverage, so it’s essential to educate yourself on the beneficial coverages before making any purchase.
Keep in mind you don’t need to carry rental car insurance. Your rental car company already paid for it. Purchasing additional coverage from Allianz only helps protect you from out-of-pocket costs in case you’re involved in an accident.
Related: Rental Car Insurance Coverage
What is the Process of Filing a Rental Car Insurance Claim With Allianz?
To file a claim with Allianz, fill out their claim form online. The form will request your phone number, email address, policy number, and Allianz insurance purchase date. Once you’ve completed the form, Allianz will require you to provide proof of your claim. You can summarize what happened and include how much you want the company to pay you. Provide documentation like receipts, tickets, photos or videos, and contracts.
If you don’t have proof at the moment, Allianz will allow you to file your claim and add the documents later. However, the more you delay your proof, the longer it takes for the company to review and process your claim.
How can I cancel Allianz’s rental car insurance?
You can cancel your Allianz travel insurance by going to the company’s website or calling an Allianz insurance agent. Allianz will not approve cancellation without reason. Some of the acceptable reasons include:
- Birth of a family member’s child
- Sudden covered medical emergencies
- Death of a family member or travel companion
- Legal separation or divorce
How can I renew my Allianz rental car insurance?
The fastest and simplest way to renew your policy is by visiting the Allianz website or calling an agent.
Does Allianz car rental insurance cover roadside assistance
Yes. Allianz rental car insurance provides 24-hour roadside assistance.
If you’re planning to rent a car, you may want to consider getting an insurance policy to avoid any major out-of-pocket expenses that may be required in the event of damage or theft related to the rental car. Allianz car rental insurance is an excellent option if you need a supplementary policy. As always, shop around for a policy that matches your budget and accommodates your needs.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.