Insurance Agency Singapore | Commercial Insurance and Personal Insurance

  • Products
    • Commercial Insurance
      • Work Injury Compensation
      • Public Liability
      • Foreign Worker Medical
      • Foreign Worker Bond
      • Fire/Burglary Insurance
    • Personal Insurance
      • Motor Insurance
      • Travel Insurance
      • Home Insurance
      • Personal Accident
      • Domestic Maid Insurance
  • Support
  • Contact Us
  • Blog
  • About Us

Here’s how to avoid common Travel Insurance Traps

16 October 2018 By admin Leave a Comment

We had a chat with Finder.com.au’s insurance expert Richard Laycock to bring you some fabulous tips and tricks to make travel insurance less painful.

Travel Weekly: What should you look for when you’re buying a policy? Does the destination affect the price / what you need?

Richard Laycock: When you’re taking out a travel insurance policy, overseas medical cover is by far the most important item to make sure you’ve checked off. This will ensure you’re covered for treatments overseas.

You should also look to make sure you’re covered for accidents and medical evacuation, as these are big-ticket items.

TW: Does the destination affect the price / what you need?

RL: YES, WHERE YOU’RE GOING WILL HAVE A GREAT IMPACT ON HOW MUCH YOU PAY FOR COVER. IF YOU’RE HEADING TO THE USA, YOU’LL PAY A LOT MORE FOR COVER THAN IF YOU WERE TRAVELLING TO SOMEWHERE LIKE NEW ZEALAND.

This is calculated based on various costs including the cost of treatment in those countries and also the cost of flying you home.

If travel delay is something that you would hate to go through then it’s also important to make sure your policy includes cover for cancellation and delay. Typically delays of 6+ hours will be covered.

TW: We see a lot of jargon in travel insurance fine print. What are 3 of the most confusing things mentioned?

RL: “Pre-existing conditions” is a big one. If you have any ailment that you know about, this counts as a pre-existing condition and if you don’t let your insurer know, you won’t be covered for it while you’re overseas.

That is not to say that you will have voided your entire policy, you just won’t be able to make a claim for anything related to that specific condition.

Another issue is leaving your luggage unattended. This caveat means that if you leave your luggage by itself and it’s stolen, your insurer will not pay you a benefit.

Finally, cancellation cover. Some people assume that cancellation cover means that you can cancel your trip and receive a benefit.

Unfortunately, cancellation cover means you’re covered if you have to cancel your trip for reasons that are outside of your control.

TW: Are there any traps travellers often fall into when purchasing travel insurance? What are your tips for cutting costs?

RL: Again, I think that not mentioning pre-existing conditions is a big thing. If you are going to go overseas, it’s important to declare those conditions.

Sure, not doing so may save you in the short term but it could cost you big in the long run.

See Full Story at www.travelweekly.com.au

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Interesting Stuff, Tips Tagged With: travel insurance tips

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • Domestic Maids
  • Golf
  • Happenings
  • Health
  • Homepage
  • Industry
  • Interesting Stuff
  • Products
  • Tips
  • Uncategorized

Contact Us

  • 1 Soon Lee Street #02-43, Pioneer Center, Singapore 627605
  • Tel: 68978226
  • Fax 68978086
  • Business Hours:
  • Mon – Fri: 8am – 6pm

Our Location

At the west side of Singapore, our office sits on the second floor of the building.

1 Soon Lee Street
#02-43, Pioneer Center
Singapore 627605

Our Products

  • Fire/Burglary Insurance
  • Foreign Worker Bond
  • Foreign Worker Medical
  • Public Liability
  • Work Injury Compensation
  • Domestic Maid Insurance
  • Home Insurance
  • Motor Insurance
  • Personal Accident
  • Travel Insurance

Find Out More

We would love to hear your insurance needs. Tell us all about it by filling up our contact form.

If not, give us a call at +65 6897 8226
or email us at enquiry@credence.agency

Copyright © 2023 | Credence Agency