Travel Insurance Guide
What should you look for when purchasing travel insurance for your trip, and what are some of the traps to look out for?
There are typically 3 main reasons why you might purchase insurance:
- to cover yourself for medical treatment, which can be enormously expensive overseas
- to ensure you are not out-of-pocket due to cancellations that are beyond your control (these could mean you lose your deposits, or have to pay for extra accommodation or flights)
- to replace or fix luggage and equipment such as laptops, cameras or other expensive items which may have been damaged, lost or stolen while travelling
Worldcare offers comprehensive travel insurance benefits that provide cover for the above three reasons, plus much more. Our policies can provide cover for unexpected cancellation, medical, luggage and personal belongings, liability, car rental excesses and all kinds of unexpected costs that could arise if something goes wrong during your holiday.
When you're choosing a travel insurance provider, of course you want the best deal for your money. But cheap travel insurance may not always be better. Some of the pitfalls to be aware of in our experience, are listed below.
Size of the company
Is the insurance company and their underwriters large enough to cope if there is a global disaster? Terrorism attacks, earthquakes, floods and volcanic ash clouds are some of the things that have recently caused major disruptions, delays and injury to travellers worldwide. It's wise to check that your travel insurance company can cope if you and many others suddenly need assistance.
Worldcare is underwritten by Allianz Insurance, one of the largest insurance company in the world - they're big enough to cope even if there is a major disaster. Our assistance provider is the international Allianz Global Assistance, who has the size, reach and expertise to help you anywhere in the world if you need emergency medical care.
Level of cover
Is the cover enough for what you might need? Many companies don't pay enough in claims to ensure that all your bills are met. However Worldcare has levels of cover up to 'unlimited' for expenses including medical and cancellation, and substantial benefits for luggage, and other travel expenses.
Excess charges and exclusions
Even though some companies may offer cheap or discount travel insurance, they may also have big excesses or long exclusion lists where many everyday occurrences or non-life-threatening medical conditions are not covered. You can check Worldcare's Product Disclosure Statement to see that, though our premiums are reasonable, we offer comprehensive high-quality cover and our exclusions are clearly stated. We can offer a low premium with quality cover and service because you're buying straight from the product issuer - so you don't pay agent's commissions.
How many phone calls will you have to make to claim and get the right medical assistance? Some travel insurance companies, (including those providing credit card insurance) don't have their own assistance provider and claims department in-house, and you may have to speak to several different departments before you get assistance. But with Worldcare, it only takes one phone call to start the process to help you with everything you need.