There is a saying we live by in the Viva Travel office – “You insure your home and contents, so why not insure the fun parts of your life?” Travel insurance is a must in any holiday booking and here is why.
Travel insurance has always been an important part of any travel itinerary, however Coronavirus is forcing countries to constantly adapt the requirements for travellers, making travel much harder and insurance more important than ever before. As borders are starting to open and we are getting ready to hit the road – or sky – you really need to know exactly what you are and aren’t covered for before you go. Thankfully some insurance companies are stepping up and improving their coverage following the pandemic.
Anything can, and often does, happen while you are travelling. Freak weather conditions like cyclones, having your phone and wallet stolen, or falling ill after that dodgy street curry can really disrupt a holiday but if these happen and you are uninsured it can set you back financially for years. Accidents can happen anywhere, your luggage may end up in a different city to you, or you may need emergency medical evacuation. There is now the added risk of catching Coronavirus before you are due to return home, forcing you to extend your stay at an additional cost, book new flights and possibly incur additional medical expenses.
There is always the temptation to take insurance offered by credit cards, but there are pitfalls here you need to be aware of. Credit card insurance often has exclusions or claim processes that paid insurance doesn’t, and they often come with a higher excess. Whilst you should always read the Product Disclosure Statement (PDS) to know what you are covered for, but many people don’t, only to find out too late their coverage is inadequate.
There is a “new normal” happening in the world of insurance. nib insurance (formerly SureSave) have looked at what is required in our current post Covid situation, and new policies will have some inclusions and cover in the event you get coronavirus. Here are some additional inclusions for Covid cover under nib:
Coverage for non-refundable travel costs incurred if, after you purchase your policy:-
- you or a member of your travelling party is certified as medically unfit to travel due to being diagnosed with coronavirus.
- Your close relative in Australia is hospitalised due to being diagnosed with coronavirus.
- You are a permanent healthcare worker, residential care worker or law enforcement officer and your leave is cancelled due to coronavirus.
Coverage for costs incurred during your trip, if/for:-
- Your accommodation is closed for cleaning due to a case of Coronavirus, we’ll pay towards accommodation nearby*
- You’re denied boarding transport because you’re suspected of being infected with coronavirus, we’ll help with your additional travel costs*
- You have to enter compulsory quarantine if diagnosed with coronavirus or you’re a confirmed ‘close contact’ (this includes the costs of things like hotel, meals and most importantly, Netflix!)
- Childcare costs if you get coronavirus – the ability to entertain the kids in a hotel room overseas may be hindered if you’re unwell.
- Care for your pets back home if you get coronavirus – we understand that hotels for our furry friends aren’t cheap!
* written confirmation required
At Viva, we have seen first-hand how people can be helped by having insurance. We had clients covered after they had everything including passports and money stolen on a train in Thailand. Another client on her first ever trip overseas crashed a hired scooter and had to find medical assistance in the middle of the night, and one of our own Viva staffers got sepsis in Bali and needed urgent medical treatment, thankfully covered under insurance.
There are many different travel insurance products on the market and it is important you select a coverage that is suitable for your circumstances. Not all insurers and policies are the same. At Viva we can provide quotes across many travel insurance companies including nib, Cover-More and Go Insurance.
Ensuring you have the right level of travel insurance is really about have that peace of mind that you won’t run up huge bills if you do get sick, or have the assistance on hand to replace your belongings. It’s the one thing you need to have and hope you never need to use.
Now in a world of travel post Covid, there is an even higher need to ensure you are adequately ensured as we all start planning to travel again.