There are very few subjects in the world more boring than insurance, and that’s a fact, but it’s one of those things you know you should have, so most people tend to just choose the cheapest and forget to read the fine print. This applies to travel insurance just as much as any other.
Once they’ve chosen the cheapest cover, people then simply believe that they’re covered for everything, when policies generally only cover you for certain events.
Imagine doing something so simple as spraining an ankle on your coach tours of the USA.
You miss the bottom step of the bus by a few millimetres, and the result is a hospital visit – which in that country can cost you upwards of $10,000 if you’re a tourist – and put you on crutches for the rest of your trip.
If you break an ankle, you’re looking at $30-40,000 in bills. Put that together with a recent survey which noted that almost one in five Australian and New Zealanders experienced an insurable event on their last holiday, and the need for travel insurance seems much more important and this is exactly why the cheapest is very rarely the best.
So here are our top five tips for choosing travel insurance.
Make sure you’re covered for everything you need
Consider your itinerary, the number of flights/tours and other activities you’ll be taking. Each one of those is an opportunity for something to go wrong, like a missed flight, long flight delays etc.
Don’t hide existing conditions
Whilst many travel insurance policies won’t cover you for some pre-existing conditions, specialty over 50s policies like Probus Travel Insurance certainly will, so it’s worth shopping around if you’ve had problems in the past. Don;t hide any medical conditions…if you have a problem while travelling, it;s better to have confidence that you’ll be looked after rather than save a few dollars berfoe you leave.
Buy insurance as early as possible
The experts say that it’s best to book your travel insurance straight after booking your holiday with the advantage of buying your travel insurance early is that some of those policies will cover you for an event before you leave.
Keep in mind that very few insurers let you purchase insurance after you’ve already left home, and it’ll be expensive.
Whenever you’re travelling, shop around to get the best policy for your money. It’s definitely worth the time and effort, giving you peace of mind while you’re away.
The most common insurable events
– Flight or tour cancelled
– Flight delayed more than 12 hours or missing a connecting flight
– Received medical treatment
– Lost / damaged / stolen luggage, cash or other items
– Forced to cancel trip before departure
Talk to a specialist
There are specialised travel insurance packages for over 50s, like Probus which will insure you up to 100 years old with pre-existing conditions (many companies cap the age at 80 or 85) and offer a range of packages to suit your lifestyle and travel plans including an annual package for frequent travellers, so make them your starting point in finding the ideal travel insurance policy for you.
You can find out more about Probus Travrel Insurance by calling (Australia) 1300 630 488 or (New Zealand) 0800 1477 6287 or visiting www.probussouthpacific.org