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Allianz Boat Insurance Review


ConsumersAdvocate.org Rating: 4.1 / 5 (Excellent)
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Allianz Global Corporate & Specialty (AGCS) is a property and casualty insurer offering a broad range of private and commercial insurance products. The company's North American branch specializes in unique risk solutions like property, casualty, aviation, and marine insurance, among others. AGCS was founded in 1863 and is headquartered in Chicago, Illinois.
 
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How is Allianz rated?

Breakdown

4.5/5
Coverage & Benefits
0.0/5
Discounts
3.5/5
Customer Experience
4.5/5
Financial Strength & Reputation

Overall Rating: 4.1 / 5 (Excellent)

Allianz Global Corporate & Specialty provides custom marine insurance solutions for single vessel operators as well as multinational businesses. The company, which has a network of marine insurance hubs in over 160 countries, coordinates local service for policyholders and provides underwriting, claims support, and risk consulting. Although there is little information about their North American insurance products, Allianz remains one of the largest yacht insurance providers in the world, protecting more than 60,000 policyholders around the globe. For the comprehensive nature of its policy options and its outstanding financial strength, we give Allianz high ratings across the board.

Allianz Coverage & Benefits

Coverage & Benefits - 4.5 / 5

Allianz offers several marine insurance options, including cargo insurance, inland marine insurance, marine hull and machinery insurance, marine liabilities, project cargo, and yacht insurance. The company's "all-risks" policies can be tailored to meet the specific needs of individuals as well as business owners and cover the most common types of claims, from minor collisions to major losses. Its yacht policy offers protection for all types of watercraft from day boats to large yachts through a comprehensive set of coverages that include hull and machinery, total loss interests, fixtures and fittings, personal effects, personal accident, medical expenses, tenders and water sport toys, third party liabilities, extended cruising areas, charter, enhanced machinery breakdown, and loss of charter hire.
Coverages
Comprehensive
Collision
Bodily Injury Liability
Property Damage Liability
Medical Payments
Personal Effects
Boat Engine
Additional Boat Equipment
Personal Watercraft
Type of Boat
Small
Yacht
Sailboats
Leisure Boat

Allianz Customer Experience

Customer Experience - 3.5 / 5

Unlike its Australian website, Allianz's U.S. site does not offer consumers the ability to obtain free quotes or estimates. It provides scant information on their coverages and services and doesn't offer additional resources for prospective policyholders besides general information on their marine and specialty policies.

Allianz Financial Strength & Reputation

Financial Strength & Reputation - 4.5 / 5

Founded in 1890, Allianz is a global insurance provider of quality specialty coverages, which are backed by its vast industry experience and strong financial stability. The company holds A ratings will all major U.S. credit rating agencies, including an A+ (superior) from A.M. Best. Allianz Global Corporate & Specialty is not accredited by the Better Business Bureau but holds a B- rating with the organization based on zero customer reviews and only two complaints. Although there seems to be little information on Allianz's North American branch, the company has received high praise and outstanding feedback from customers who have purchased its travel insurance products.
Company Type
Underwriter
Year Founded
1890
NAIC Direct Premiums Earned (2017)
$1,144,696,060
AM Best Financial Rating
A+
Standard & Poor's Financial Rating
AA
Moody's Financial Rating
Aa3
BBB Rating
B+
Date Collected
2018-04-17

Company Profile

Full Name
Allianz Boat Insurance
Company Website
http://www.agcs.allianz.com/
Headquarters
225 West Washington Street, Suite 1800, Chicago, IL, 60606

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