NO WOR­RIES IN­SUR­ANCE

TRAVEL IN­SUR­ANCE – WHAT YOU NEED TO KNOW

Outer Edge - - Contents -

With so many op­tions now avail­able on­line, pur­chas­ing travel in­sur­ance can be a daunt­ing ex­pe­ri­ence. Here are some help­ful tips to re­mem­ber when buy­ing your travel in­sur­ance.

The num­ber of travel in­sur­ance providers has ex­ploded since the early 2000s. In the days be­fore travel be­came an on­line ex­pe­ri­ence we all tended to buy our travel in­sur­ance through the high-street travel agent.

This was sim­ple and seemed log­i­cal at the time. What most con­sumers now know is that the travel agent takes a com­mis­sion on the in­sur­ance pol­icy that they pro­vided when book­ing your trip. De­pend­ing on the travel agent that com­mis­sion could be as high as 4050% of the pre­mium. With the in­tro­duc­tion of the in­ter­net came the on­line travel in­sur­ance provider. This has pro­vided the travel con­sumer with a huge amount of choice for their travel in­sur­ance needs. There is no doubt that to­day’s trav­eller re­ceives cheaper travel in­sur­ance rel­a­tive to the pre-in­ter­net days. The rea­son this travel in­sur­ance is so cheap is be­cause the cover pro­vided is very ba­sic.

And herein lies the dan­ger for con­sumers.

The risk of de­part­ing over­seas with the wrong travel in­sur­ance can be a big mis­take! It hap­pens all too eas­ily to on­line con­sumers lured by the cheap price found via a google search or an in­sur­ance com­par­i­son web­site. Many travel in­sur­ance providers are now in the habit of pro­vid­ing cheap in­sur­ance op­tions as a bait to get cus­tomers to click through their web­site. Th­ese cheap in­sur­ance op­tions only cover the very ba­sic travel ac­tiv­i­ties and will of­ten ex­clude ac­tiv­i­ties such as surf­ing, skiing, snow­board­ing, cycling, kayak­ing, raft­ing, scuba div­ing and more. Things that we love to do when we’re on our hol­i­days.

You also need to con­sider your own state of health and any pre-ex­ist­ing con­di­tions which may af­fect your travel in­sur­ance cover. This in­cludes con­di­tions such as asthma, preg­nancy, mi­graines and other ev­ery­day con­di­tions. Nowor­ries In­sur­ance will au­to­mat­i­cally cover 38 pre-ex­ist­ing con­di­tions, but the rule of thumb is to al­ways check what is cov­ered be­fore you buy.

There is noth­ing worse than de­part­ing on your hol­i­days and find­ing out that your cheap travel in­sur­ance doesn’t cover you for all the fun stuff you want to do on an ad­ven­ture hol­i­day you’ve been plan­ning for months. Ac­tu­ally there is some­thing worse – find­ing out that you’re not cov­ered for an ac­tiv­ity when it’s too late. Too many un­for­tu­nate trav­ellers have found them­selves in hospi­tal after emer­gency surgery only to find out they were not in­sured for their favourite ad­ven­ture ac­tiv­ity when abroad. A mis­take that could cost you over $100,000.

SO HOW DO YOU AVOID GET­TING CAUGHT OUT BY CHEAP TRAVEL IN­SUR­ANCE?

Be very aware of those cheap travel in­sur­ance op­tions which seem too good to be true. The re­al­ity is that they usu­ally are. They of­fer very ba­sic travel in­sur­ance for those who like to stay in their ho­tel room, get room ser­vice and travel with carry-on lug­gage only. You may quickly find your­self unin­sured if you de­cide to ven­ture out­side!

Watch out for all those up­grade op­tions – they’re ex­pen­sive! An­other trap is se­lect­ing the cheap­est op­tion through a com­par­i­son web­site be­fore get­ting slugged with any up­grade op­tions se­lected through the buy­ing process. The ini­tial travel in­sur­ance pre­mium seems great, but once you have pay to in­clude things such as bag­gage, sports ac­tiv­i­ties, win­ter sports and the like, the price mounts up. Be sure to com­pare the end price from on­line travel in­sur­ance providers that play the up­grade game.

Se­lect the right re­gion and coun­tries you’re trav­el­ling too. Some on­line providers make you iden­tify each coun­try you’re trav­el­ling to. This seems fine when you ini­tially buy the travel in­sur­ance. The prob­lem is when you’re on your hol­i­day and de­cide to ad­ven­ture to a nearby des­ti­na­tion or an­other re­gion on a stopover that is not cov­ered by your in­sur­ance. Make sure you se­lect a travel in­sur­ance provider which cov­ers large re­gions for you to travel within. It will save you a lot of time and worry. It could also save you hun­dreds of thou­sands of dol­lars.

Be sure to read the fine print if you’re re­ly­ing on free travel in­sur­ance from credit card providers. This can be where a lot of trav­ellers come un­stuck. Firstly the cover isn’t ad­e­quate and ex­cludes those fun filled ad­ven­tur­ous ac­tiv­i­ties you love do­ing when on hol­i­day. You also have to be care­ful about the ex­tent of cov­er­age, lim­its pro­vided, pre-ex­ist­ing con­di­tions and age lim­i­ta­tions. Fur­ther­more, many peo­ple may not be aware of the con­di­tions re­lat­ing to how the in­sur­ance is ac­ti­vated. For ex­am­ple, you may have de­cided to pur­chase the hol­i­day via di­rect debit or by us­ing an­other credit card to make the pay­ment. By do­ing this you have not ac­ti­vated your “com­pli­men­tary travel in­sur­ance” and are un­wit­tingly unin­sured. Make sure you do your home­work if you go down this path.

Know your pre-ex­ist­ing con­di­tions. You need to make sure you know what pre­ex­ist­ing con­di­tions you’re cov­ered for prior to buy­ing your travel in­sur­ance. Some travel in­sur­ance com­pa­nies pro­vide no cover at all for any pre-ex­ist­ing con­di­tion. The cheap travel in­sur­ance you thought was a great buy prob­a­bly pro­vides no cover at all for pre­ex­ist­ing con­di­tions. If you have a con­di­tion that is not listed, make sure you speak to your pre­ferred travel in­sur­ance provider be­fore you buy the travel in­sur­ance and cer­tainly be­fore head­ing abroad.

Age lim­i­ta­tions Once you are over the age of 65 you may find that your cover be­comes more re­stricted. You may even find out that you’re not cov­ered over a cer­tain age. Be care­ful when buy­ing your travel in­sur­ance, par­tic­u­larly if you are plan­ning to par­tic­i­pate in sports ac­tiv­i­ties or win­ter sports such as skiing or snow­board­ing. Make sure your travel in­sur­ance provider doesn’t have an age lim­i­ta­tion.

DO YOUR RE­SEARCH AND EN­JOY NOWOR­RIES TRAVEL!

At Nowor­ries In­sur­ance we’re re­ally proud of our Nowor­ries Travel Cover prod­uct. It’s jam packed full of great cover all day, ev­ery day. Our aim is to give our cus­tomers Great Ben­e­fits, More Ad­ven­ture & Out­stand­ing Cover. For Outer Edge read­ers, we are of­fer­ing a Promo code that gives 10% off our al­ready amaz­ing travel cover. When you pur­chase your travel cover with Nowor­ries In­sur­ance just sim­ply en­ter the Promo code EDGETRAVEL.

Happy Trav­els. Tony Venning Founder & MD, Nowor­ries In­sur­ance

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