As industry professionals we know the importance of purchasing the right travel insurance, but do your clients understand it too?
Some may understand its importance (because you’ve advised them), others rely on you to take care of it and then there are the others that wait until last minute to throw minimal cash on a policy that ‘looks about right’.
Aussies are making a bunch of mistakes when it comes to travel insurance but Southern Cross Travel Insurance’s CEO, Craig Morisson, said none are more common than these three:
1. We’re still going for those ‘cheap & nasties’
They’re cheap for a reason! There’s plenty of fine print and they don’t cover some of the more obvious activities travellers will undertake on the average holiday.
“I think travellers are doing something wrong when they buy on price alone,” Morisson said.
“Some of those cheap and nasty policies (lower tier) come with fine print and exclusions around mopeds and skiing.
“Excluding these activities keeps premiums way down.”
2. Waiting too long
It’s sometimes the last on the list for travellers (guilty), but by leaving it to last minute we’re actually missing out on a string of benefits.
For example, did you know that if you don’t book your insurance around the same time as your non-refundable flight you won’t get money back if for some reason you can’t travel.
“Far too many Australians wait too long to book,” he explained.
“It’s a very common mistake. Buy your travel insurance as soon as you have a non-refundable flight.”
3. Getting on the piss
It’s one thing to have a good time and it’s a completely other situation to consume deadly amounts of alcohol just because you’re on holidays.
Morisson said it’s sad but a very hard fact that many young Australians are drinking excessively while on holidays and experiencing financially crippling injuries.
“Australians should be even more cautious overseas, not less,” he explained.
“I’m not trying to come across as a parent but too many young travellers expect their insurance will cover them if they’re seriously injured, but if something goes wrong and you’re blood alcohol content is unbelievably high insurers are less likely to pay out.
