If you're not aware already, we're here to remind you; travel insurance is a must for your trip abroad. Not only is it a solid investment against any potential medical costs you may incur overseas (and these can be seriously expensive) but it's a great way to ensure that you'll be protected against unforeseen events like natural disasters, lost luggage, family emergencies and more.
However, there are many unknown exclusions that you may not be aware of. Travel insurance can be a tricky business so we've outlined some common misconceptions that may trip you up.
Remember, no matter if you're about to embark on your first trip or your hundredth, there's no telling what can happen while you're away. Zoom Travel Insurance want you to enjoy your holiday and return safe and sound. Take the time to understand your policy before you take off.
Cover starts the day you buy your policy
Certain benefits, including cancellation cover, actually kick-in the day you buy your policy. That way, if an unexpected emergency forces you to cancel in the days preceding your trip, you’ll be eligible to claim for any non-refundable costs.
Not all missed flights are considered equal
Despite your mad dash to the gate you’ve missed your flight. Whoops! Just don’t assume you’ll be covered by Zoom as running late does not give you cause to claim. Similarly, missed flights caused by mechanical issues, overbooking, or aircraft maintenance would be regarded as the airline’s responsible to cover, not your insurers.
Out of sight, out of pocket
While your luggage and personal items may be covered for theft, damage and loss, it’s your responsibility to keep them protected as best you can. Your claim may be rejected for instance, if your belongings were ‘unattended’ or ‘unsupervised.’ Although each case will be closely examined, usually belongings left behind in taxis, restrooms and even conveyer belts wouldn’t be covered.
At Zoom, you can choose to cover your luggage for up to $7,500. However, it's important to note that non-specified items are subject to sub-limits (we cover non-specified items for up to $750). Check your sub-limits and ensure that your expensive items are covered sufficiently.
The sooner you buy, the better
Booked your trip? Now’s the best time to buy travel insurance. When it comes to cancellation cover for events such as a national disaster, cut-off dates usually apply. This means that once a volcanic eruption or earthquake has occurred, you can no longer buy insurance for that specific event. Purchasing a policy well in advance of your trip will ensure you’re covered if a crisis occurs.
Attention to detail is key
One size definitely doesn’t fit all in the world of travel insurance. The type of policy you buy can vary and it’s imperative that you take the time to research those differences. Take note that a cheaper, basic travel insurance policies will generally providing medical only coverage and comprehensive policies will cover travel delays, cancellation and a host of additional benefits.
Think before you bling
Planning to dazzle those at your travel destination with your collection of gems and diamonds? Think again as quite often travel insurance will not cover expensive items of jewellery. If you are planning to travel with a sizable diamond ring consider insuring your valuables under your home and contents policy.
Booze can bust your cover
For some, holidays aren’t complete without a cool cocktail or two. While a mild buzz is acceptable, too much holiday spirit combined with reckless behaviour may jeopardize your cover. As a rule of thumb, if you’re too tipsy to make wise decisions, don't bank on travel insurance to save the day.
Planning to get your heart racing this holiday? If you're intending to partake in some adventure sports, take note; not every high risk activity is covered automatically. To ensure you’re covered for your dose of thrills purchase our additional adventure sports pack or check to see if your intended activity is automatically covered.
Age is of the essence
Should a relative fall ill or pass away while you are overseas, comprehensive travel insurance will cover the cost to get you back home. However, restrictions apply to relatives over a certain age. Zoom will exclude family emergency cover if the relative is over 84 or if the family member in question suffers from a pre-existing condition (regardless of age).
A FINAL WORD
Travel insurance can be a lifesaver provided you take the time to understand your policy. Taking into account all the various exclusions, making the decision to take cover when heading abroad can save you insurmountable costs. Research your options and think hard before you forego insurance; it’s a small price to pay for peace of mind!
"Zoom Travel Insurance" is a registered Business name of the Insurance Geeks Pty Ltd ABN 35 612 507 785 located at Level 12, 338 Pitt Street, Sydney, NSW 2000 Australia. The Insurance Geeks is an authorised representative of Coffre-Fort Pty Limited ABN 66 125 358 518, AFS Licence No. 472457. This site contains general guidance only on insurance products available to you. Before you buy a policy, you should consider if this product suits your needs by reading the policy wording, known as a Product Disclosure Document (PDS) in light of your personal circumstances. This insurance is underwritten by certain underwriters at Lloyd's.