Allianz vs American Express: Which Travel Insurance Is Better?

Allianz and American Express sell to the same traveler and answer the same question differently: Allianz puts its money into the free-kids rule on Prime and Premier, American Express into a build-your-own format that lets you set the medical and evacuation amounts yourself. This page puts the plans side by side from the insurers’ own plan documents, says which one wins for each kind of trip, and shows the numbers that decide it.

The plans side by side

Limits are per person. Read the medical column first: it is the one that separates these two companies, and it is the one that pays the bill that can pass $100,000. The Allianz review and the American Express review go plan by plan.

Where each one wins

The numbers that decide it

Medical and evacuation. Allianz’s best plan, OneTrip Premier, carries $75,000 of medical and $1,000,000 of evacuation; American Express does not publish plan limits; the medical and evacuation amounts appear only in your quote, so write them down before comparing. For a trip outside the US the floor is $100,000 of medical and $250,000 of evacuation; for a cruise, a remote trip or a traveler over 65, $250,000 and $500,000.

Cancel for any reason. Allianz: Cancel Anytime, Allianz’s version of cancel for any reason, refunds 80 percent of the trip cost, the highest share on the market, on OneTrip Prime and Premier only; it has to be added when you buy. American Express: There is no cancel for any reason on the policy. Trip Cancel Guard is a separate airfare-only product that pays 75 percent of the fare if you cancel at least two days before departure.

Pre-existing conditions. Allianz: The pre-existing condition waiver applies when you buy within 14 days of the first trip payment. American Express: The pre-existing condition waiver applies when you buy within 14 days of the first trip payment.

Children. Allianz: Children 17 and under are free on OneTrip Prime and Premier (not for Pennsylvania residents). American Express: No free-kids benefit.

Free look. Allianz: 15 days after purchase for a full refund if the trip has not started. American Express: 14 days after receiving the policy for a full refund if you have not departed or filed a claim.

What it costs

Neither Allianz nor American Express is on the CoverTrip comparison; both sell only direct. Travel insurance is priced by the trip cost, the ages of the travelers and the trip length, and a package plan usually costs 4 to 8 percent of the trip cost, so the way to compare these two is to enter the trip once, note the price of a plan with the limits you need, and hold each company’s direct quote against it. Same price on the comparison as buying direct.

What the plans say

Allianz’s strengths are the free-kids rule on Prime and Premier, an 80 percent Cancel Anytime refund, annual plans and a standalone rental car plan; its weak spot is the medical limits: $50,000 on Prime and $75,000 on Premier, thin for a cruise or a trip abroad. American Express’s strengths are a build-your-own format that lets you set the medical and evacuation amounts yourself, no card membership required, a 14-day waiver window; its weak spot is no published plan limits (the two numbers that matter are only visible inside your quote) and no cancel for any reason on the policy itself. Both refund 100 percent of the insured trip cost for a listed cancellation reason, both include a 24-hour assistance line, and both are underwritten by large insurers; the difference between them is the limits and the upgrade rules above, not the paper.

Questions people also ask

Related: Allianz review · American Express review · Is credit card travel insurance enough? · Cancel For Any Reason guide · travel medical insurance guide · all company reviews

Plan limits and upgrade rules on this page are from the insurers’ plan pages and policy documents for Allianz and American Express, checked 12 September 2026, and from the CoverTrip reviews of each company. Price guidance is from the plans on the CoverTrip comparison.