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Travel Insurance

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Travel insurance

Travel Insurance Cover

Travel insurance is a type of insurance that covers the risks you might face while traveling. Think of it as a safety net that catches you if you run into certain problems away from home. It can provide coverage for unexpected medical expenses, lost luggage, flight cancellations, and other losses incurred while traveling.

Why is travel insurance important? 

Travel insurance is important because it helps protect you from unforeseen events that can disrupt your plans and become costly. If you get sick, miss a flight, or have to cut your trip short, travel insurance can help you recover the expenses. It’s there to make sure that an unexpected event doesn’t turn into a financial disaster.

For travel insurance policies taken out in New Zealand, the average cost of the insurance typically ranges between NZ$100 – NZ$500 per person per trip. 

It’s crucial to have travel coverage if you are:

  • You’re traveling overseas.
  • You’ve booked expensive pre-paid activities.
  • You have medical conditions.
  • You’re carrying valuable items

What Does travel insurance cover?

Travel insurance primarily covers three main things:

Medical Emergencies

This is perhaps the most important aspect of travel insurance. If you get sick or injured while on your trip, travel insurance can help cover the cost of your medical treatment. This is especially critical in countries where medical care is expensive.

Cancellations and Delays

If your trip is canceled or delayed, travel insurance can reimburse you for pre-paid expenses. This could include flights, hotels, and tours that you cannot attend because of unforeseen events like natural disasters or personal illness.

Lost or Stolen Property

Losing your belongings or having them stolen can be a real hassle when you’re traveling. Travel insurance can provide compensation for such losses, which means you can replace the items and continue your trip with minimal disruption.

What are the different types of travel insurance?

At Gerrards, we offer a variety of travel insurance options to fit your needs:

  • Personal Single Trip: This insurance is for one trip and covers the duration of your vacation or journey.
  • Personal Annual: If you travel frequently, an annual policy can cover all your trips within a year, saving you time and often money.
  • Business Single Trip: Tailored for the business traveler on a specific work trip.
  • Business Annual: For the frequent business traveler, covering multiple trips throughout the year.

What is the cost of travel insurance?

Travel insurance premiums are calculated on several different factors including:

  • Length of trip
  • Destination 
  • Age
  • Pre-existing conditions
  • Level of cover 

Travel insurance typically costs between $100 to $500 per person for a single trip.

Who needs travel insurance?

Simply put, anyone traveling should consider travel insurance. It’s essential for those going overseas, where they may not be covered by their regular health insurance, and for travelers who have invested a significant amount in their travel plans.

If you need to make a claim, Gerrards is here to help every step of the way. You can contact us at any time, and we will guide you through the claim process. We’ll help you gather the necessary documentation and act on your behalf with the insurance provider to ensure your claim is handled efficiently and fairly.

Generally, travel insurance should be purchased before you start your trip. However, if you’ve already set off and find yourself needing coverage, reach out to us at Gerrards. There may be options available, though they could come with certain limitations or waiting periods.

How do I get proof of travel insurance

You can usually get proof of insurance same day when you purchase insurance through Gerrards.

Acquiring travel insurance from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or lease.

To obtain insurance coverage promptly, contact us. We may require you to provide some fundamental details about your travel plans, such as:

  • The name of the travellers
  • The destination 
  • The duration 
  • Pre existing conditions 
  • High value belongings 

What does travel insurance not cover?

Understanding what is not covered by travel insurance is just as important as knowing what is covered. Here are five common exclusions you should be aware of:

Pre-Existing Medical Conditions

Generally, travel insurance policies do not cover health issues that were present before your policy began. However, some policies may offer pre-existing condition waivers, but typically, this coverage must be purchased within a certain period of buying your trip.

Alcohol or Drug-Related Incidents

Incidents or accidents that happen while you’re under the influence of alcohol or drugs are usually excluded. This is because insurers consider this as taking an unnecessary risk that increases the likelihood of a claim.

Reckless Behavior

If you get injured while doing something dangerous that your insurance policy doesn’t cover, like participating in extreme sports without the proper endorsement, your claim might be denied. Always check your policy before engaging in adventurous activities.

Travel to High-Risk Countries

If a government body, like the New Zealand Ministry of Foreign Affairs and Trade, has issued a travel warning for a country or region, injuries or losses incurred there may not be covered by your travel insurance policy.

Losses Due to Lack of Caution

Travel insurance does not cover losses that could have been avoided with reasonable care. For example, if you leave your bag unattended in a public place and it gets stolen, your insurer may argue that you did not take sufficient care of your belongings.

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