The main benefit of organizing your travel insurance as early as possible is cancellation cover. This allows you to claim back your prepaid costs if you need to cancel your trip prior to leaving the country. In most cases you can claim lost funds related to cancelled, non-refundable flights, accommodation, tours, activities, travel agency fees and other related travel bookings.
With New Zealanders making almost 3 million trips overseas each year, there’s plenty of potential for financial strife without the right travel insurance cover.
What if, for example, you booked a trip for three months’ time but had the misfortune to break your leg in the meantime and were unable to travel? Or perhaps there was a natural disaster in the area of your destination. A direct family member falling ill – or even your boss declining to approve your holiday eave application – could all be potential grounds for a refund of your trip via travel insurance.
That said, it’s never too late to insure yourself, so if you’re about to jump on a plane and haven’t yet put travel insurance in place, do it right now!
Travel Insurance Star Ratings
Canstar has just released the 2015 Travel Insurance Star Ratings report, assessing 54 travel insurance policies from 32 providers, and finds that at less than $200 per couple for a 10-day holiday to most of the international destinations, surveyed, the cost of insurance is a very small price to pay for peace of mind.
Large families get perhaps the best value for money of all, with family policies being only a fraction more expensive than the cost for child-free couples!
When it comes to a quick trip across the ditch (to Australia), Canstar looked at premiums for a seven-day trip for a family, finding a minimum cost of around $66, a maximum of $228 and an average cost of $104.
For couples heading over for a 4-day long weekend, travel insurance costs, according to Canstar’s database, start at $39, up to $183, with an average price of $80.
When you consider how much money, time and effort we invest in heading off on holiday in the first place, travel insurance is a tiny drop in the ocean of holiday costs.
Which providers offer outstanding value?
As for which travel insurance policies offer outstanding value, Canstar’s ratings confirm the competition in this area remains red hot. Last year’s winners again emerged from rigorous comparison with equal scores. Southern Cross Travel Insurance (SCTI) and Travel Insurance Direct (TID) couldn’t be separated in both categories – International Travel Insurance Award and Trans-Tasman Travel Insurance Award.
You can read the details in the Canstar Travel Insurance Star Ratings report.