Why travel insurance is so important

  • Why travel insurance is so important

    There is nothing more exciting than booking your dream holiday. The planning, the saving and the count down, but it’s the scary fine print of travel insurance that can have some people skip that part completely… or even thinking ‘I’ll be ok, I don’t need it’.

    Truth is, if you can afford to go on holidays… you can afford to take out travel insurance. It has never been more important to make sure you are covered, it’s an investment in your journey if things go wrong. Situations from lost luggage, stolen possessions or if you are injured in an accident, can go from your worst nightmare to the relief and peace of mind someone will be there in your time of need and covered financially.

    What you should know about travel insurance

    1. Make sure you are in safe hands It is important to ensure your insurance provider has its own in house emergency team to provide assistance should you require it.
    2. Don’t leave it too late it won’t cost any extra to arrange travel insurance at the time of booking, however it could potentially save you a fortune down the track.
    3. Pulse Travel consultants are experienced travellers and will be to able assist you in finding the right product to suit your needs.
    4. Choose a reputable insurer choosing a company with a good reputation means they will know how to look after you in your time of need.
    5. Not all policies are the same, travel insurance products can vary greatly. It’s important to read what is covered and find the policy that is right for you.

    Depending on your policy – 5 instances where travel insurance may help

    1. Cancellation or delays – If you need to cancel your trip or experience delays, airlines, hotels, car hire companies and cruise lines generally don’t offer refunds. However travel insurance may help you recover some of the costs.
    2. Serious Injury – for an Australian who travels to another country and isn’t insured, costs can run into the hundreds of thousands if something serious was to happen (for example in the US, hospital bills can be extreme). Having insurance for death or serious injury can save you thousands.
    3. Lost or stolen items – Having something stolen from you can put a dampener on a holiday. It can be something small, something valuable or something essential to your trip. No matter what it was, depending on what type of cover you may be able to claim them and get reimbursed.
    4. Medical cover – If you get sick while on holidays, the last thing that you want to worry about is money. Much like serious injury, costs can run into the thousands if you need to be treated in another country. Having the right cover gives you peace of mind that you won’t have to dip into your own pocket.
    5. Emergency at home – Depending on what kind of policy you choose, some will allow you to return home due to an emergency. In situations like loved ones falling ill or a death in the family, in some cases you can receive a reimbursement for the cost of returning home in addition to resuming your trip again.

    Credit card travel insurance:

    Remember, not all travel insurance is the same. Here is a checklist of questions to think about before travelling on your ‘free’ credit card travel insurance.

    What is covered?
    – What is the activation requirement for the ‘free’ travel insurance? How much of the trip must you pay for on the card to be covered by the policy?
    – If you book a side tour while you’re away will you be covered?
    – Are you covered for claims relating to a non-travelling family member?
    – What if you pay for a tour or accommodation in cash (not on your card) is this still covered?
    – Is the cover comprehensive or minimal due to the level of your card?

    Policy Wording
    – Do you have a copy of the policy wording? Or do you know where to access it?
    – Do you have a policy number to provide hospitals or other parties in an emergency?
    – Are your travelling companions or family members covered or only the primary cardholder?
    – What is the maximum length of time you will be covered for?
    – Can you extend your travel insurance?

    Existing medical conditions
    – If you have an existing medical condition, will they assess this at no extra cost?
    – Are Existing Medical Conditions for both you and any family members not travelling, covered?

    Finally
    Pulse Travel can assist with submitting a claim and work with the insurance company to make the process easier. Who will assist you with your claim?

    If you decide to take out a travel insurance policy and something does happen to you while you’re travelling, make sure you have easy access to the emergency number and a copy of your certificate of insurance. Making a claim is very easy and straight forward providing you have copies of all the required information like receipts, police reports or anything that can support your claim. Pulse Travel consultants are more than happy to assist you in all aspects of insurance from helping you pick the right policy, right through to submitting a claim.

    This is general advice only. Before making any decisions, consider your own circumstances and the Product Disclosure Statement. Source: Covermore

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