The world’s leading online travel insurer, InsureandGo (insureandgo.com.au), has been named one of three recommended providers for travel insurance in Australia by consumer advocacy group CHOICE, for its Gold One-Trip Overseas Travel Insurance policy.
CHOICE reviewed and compared 140 travel insurance policies from 62 providers, to uncover the best travel policies for Australian consumers. Policies were reviewed based on policy features (making up 70 per cent of the overall score) and claims performance (20 per cent of the overall score), and they were also given a price score (which contributed 10 per cent to the overall score).
The policy score reviewed features such as medical, cancellation, baggage, public liability, pre-existing conditions, cover for dependents, rental car and activities covered. Meanwhile, the claims score was based on the number of consumers who lodged a dispute with Australian Financial Complaints Authority[1], how far they progressed through that process and what chances there are to achieve a positive outcome.
InsureandGo’s Gold One-Trip Overseas policy includes cover for unlimited overseas medical expenses, up to $8000 in baggage expenses and unlimited cancellation expenses. It covers individuals up to the age of 100. It also has higher limits for travel delay expenses ($2000), prescribed medications ($750) and for baggage lost temporarily for both singles ($750) and families ($3000[2]). InsureandGo may also cover up to $10,400 (over six months) for loss of income due to an accident on the trip that leaves you disabled and unable to work.
InsureandGo’s managing director, Raphael Bandeira, says: “We’re thrilled to be recognised as a recommended one-trip travel insurance provider by CHOICE in its 2018 travel insurance review. We are committed to providing our customers with the best travel cover that is both affordable and comprehensive so that they can enjoy their holiday and have peace of mind knowing they are protected.
“Holidays are a large expense for many, so it’s important to take out travel insurance to avoid further out-of-pocket expenses, should an accident or incident occur. Having travel insurance ensures that you aren’t left with costly bills due to unforeseen circumstances, such as lost or stolen luggage, sickness overseas, injury and cancellation.”
Events like this occur more often than you might think. In fact, Smartraveller[3] found that one in four Australian travellers experienced an insurable event on their last trip abroad. Around 85 per cent of claims receive payouts, and of those claims that don’t, many are declined due to the traveller having misunderstood the policy they’ve purchased[4].
InsureandGo’s top three tips on what Aussies should look for when taking out travel insurance
- Check the exclusions for medical expenses. To avoid having any claims for medical costs denied, ensure that you disclose any pre-existing medical conditions at the time of purchasing your cover. Medical cover in your travel insurance will often only cover things that are unforeseen and necessary.
- Choose policies that cover the loss of valuables. Losing valuable items such as phones, cameras, tablets and laptops can add significant stress and additional expenses on your trip. Ensure that your policy covers these items in the case of theft or loss of luggage. Cheaper policies will often only cover you for very small amounts, which may not cover the expense for replacing these goods. InsureandGo’s Gold Trip policy enables policyholders to claim up to a maximum of $3000 for the loss of smartphones, laptops and tablets, and photo or video cameras.
- Purchase a policy that covers all activities you are likely to do. If you think you might be doing active or extreme activities, check the product disclosure statements to see if those activities are covered in your policy, or take out an extras cover. Don’t assume that even ‘mild’ activities – such as white-water rafting, canoeing or kayaking – are included in a basic travel insurance policy. This assumption could leave you out of pocket if you were to get injured. If in doubt, contact the insurer directly and ask if your trip activities will be covered.
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