Two-minute expert

Everything you need to know about travel insurance

I’M A BUSINESS

TRAVELLER – WHY WOULD I NEED TRAVEL INSURAN CE?

You don’t have to be out hiking in the jungle or scuba diving to need travel insurance. If a flight is delayed or connecting flight cancelled and you’re working, you might have to purchase expensive last-minute flights to be at a meeting on time, or pay for additional accommodation. Luggage can be lost, stolen or damaged whether you’re on a business trip or holiday. Credit cards and travel documents can go missing whether you’re going to the beach or the boardroom. Just because you’re on business doesn’t mean natural disasters (hurricanes, earthquakes, volcanoes) won’t affect you. If there’s a family emergency at home, you may need to cancel hotels, book new flights to get back home quickly.

If you’re travelling regularly, a multi-trip travel insurance policy can save time and money.

I’M GOIN G ON THE KOKODA TRAI L – DO I NEED SPECIA L INSURAN CE?

In a word – yes. The Kokoda Trail is a 96-kilometre trek that takes about 10 days over a rugged mountain jungle trail in intense heat, humidity and frequent torrential rain.

What could go wrong? Potentially plenty. Many walkers say this trip is life changing, but you want the changes to be in a positive way, not a financial burden. According to industry sources, depending on the type of injury or illness, a medevac from the trail with specialist assistance in PNG could cost PGK70,000 or more.

A standard travel policy may not include hiking the Kokoda Trail. It may be listed under ‘adventure activities’ and you will need to pay an additional premium.

WHAT ARE THE BIGGES T MIS TAKES PEOPLE MAKE WHEN BUYING TRAVEL INSURAN CE?

The biggest mistake is not checking that the policy matches your travel plans.

Specific mistakes include:

Not including all the countries you will be visiting.

Not having enough insurance to cover expensive items such as laptop or smart phone.

Not checking if you are covered if you ride a motorbike (driver or passenger) or undertake any high-risk sports such as skiing or scuba diving.

Not taking out insurance soon enough. (You should take out insurance as soon as you book your trip. It won’t cost any more but you will be covered if something major happens (illness, unexpected death in the family) between booking and your departure date and you have to cancel. Not registering if you have a pre-existing health condition. (If you don’t register, the entire policy might be void.)

Read the product disclosure statement. A little boring maybe, but essential.

WHAT IF I NEED TO MAKE A CLAI M?

You need to keep a record of all your costs.Have proof of the value of items you might need to claim for.

If you have a medical emergency, contact the insurance company within 24 hours.

If something is stolen or lost, get a police report from the local police station as soon as possible.

Lodge your claim within 30 days or returning.

Be prepared –read what you need to do before you travel.