The recent tragic case of the Kiwi mum who died in hospital while on holiday in Bali has highlighted just how essential it is to have adequate travel insurance. This may have been an unusual and complicated case, but here at Arrowsmith Financial Services, we have plenty of examples of Kiwis experiencing problems while overseas. Having the right travel insurance can save you time as well as hassle and means you won’t be out of pocket should the unexpected happen. Carry on reading to find out all you to need to know about travel insurance.
Why should I buy travel insurance?
Far from being just an extra expense, travel insurance could be a lifesaver in a crisis. And it’s not just about covering you if your bags are lost or you lose your camera, phone or passport. Travel insurance will also take care of medical expenses if you fall ill or suffer an accident. These costs can very quickly add up to many thousands of dollars. Sadly, many New Zealanders every year experience a medical event while on their holidays and lots of foreign countries simply won’t treat you if you don’t have insurance in place.
Furthermore, some policies kick-in from the day that you make the purchase rather than the day of departure. This means that should you break a leg and have to cancel your holiday, you will be able to make a claim for any non-refundable costs.
Do travel insurance policies vary in what they cover?
Yes, there is considerable variation between different insurers and different policies. It’s very important, therefore, that you thoroughly check the fine print and are clear about what you are covered for, and perhaps more importantly, what’s not included in the policy.
Better still give us a call here at Arrowsmith. Working with our partners at Cover-More, we can make sure you have the right travel insurance in place.
Some policies, for example, exclude adventure activities such as skiing, snowboarding or diving. If you are planning on doing something more than simply lounging by the poolside, then it’s worthwhile checking that you are covered by insurance.
What happens if I have a medical condition, should I tell my insurer?
Yes, it’s very important to be upfront with your insurers. Just because you have a pre-existing medical condition doesn’t automatically mean that you won’t be eligible for travel insurance. However, failing to declare an existing illness, injury or recent surgery could result in an unpaid claim.
Do I need to talk to an expert or can I just book my travel insurance online?
There are certainly plenty of online options available and if you are time poor or on a budget, it can seem like an easy decision to sign up on the internet. Be aware though that cheaper policies tend to offer more basic cover whereas other, more comprehensive policies, can provide extended cover and additional benefits.
The sheer number of providers and policies on offer can make it a confusing and overwhelming process. That’s why it’s important to consult with an expert who can help you understand all the detail so you make the right choice.
Get in touch with Arrowsmith
Quite simply, travel insurance should be as essential to your holiday as sunscreen and jandals.
Here at Arrowsmith we have the expertise and knowledge in travel insurance. We can answer your questions and give you the right advice.
As soon as you book your next holiday, get in touch with us to arrange travel insurance, then relax and enjoy your trip knowing that you have the right cover in place.