Ensure your travel insurance is ready for Easter adventures

The Easter holidays typically increase in domestic (and sometimes, international travel), with many South Africans using this period to explore and discover new destinations with their families, friends, and loved ones. However, as exciting as jetting off on a plane or road trip can be, it’s important to remember one crucial component – travel insurance.

“When the travel bug bites, it’s easy to forget that travelling comes with its fair share of risks that could prove to be costly if you’re not prepared for them. It’s therefore crucial for South Africans to ensure they have travel insurance on their checklist before venturing out on their trips,” says Ryno de Kock, head of distribution at PSG Insure.

Travel insurance aims to help clients mitigate the risks that surround travelling, which include loss or theft of luggage, flight or trip cancellation, medical costs, death, disability, and personal liability cover. “Travel insurance policies need to be taken out before embarking on a journey and can be arranged up to a year in advance of the trip,” explains de Kock.

“While some banks provide complimentary travel cover when airline tickets are bought using a specific credit card, these policies usually only cover a limited scope of travel expenses, which focus mainly on some medical cover and won’t account for situations such as baggage loss or cancellation costs. It is therefore recommended that travelers take out additional cover as a “top-up” to cover other risks, particularly to ensure they have sufficient medical cover in place.”

A comprehensive travel insurance policy can even cover the cost of airlifting, should the individual need to be transported by helicopter to the nearest hospital if they are holidaying in a remote area with insufficient medical infrastructure. “However, while these policies are indeed comprehensive, there are a few standard exclusions that clients need to be aware of,” says de Kock. “Pregnant women are not covered from the first day of the 26th week of pregnancy, in which case medical professionals may advise against travelling altogether, depending on the health of the woman in question. Medical claims, because of underlying illnesses of a vascular, cardiovascular, and cerebrovascular nature, are excluded for travelers aged 70 and over.”

The premium for this type of policy fluctuates depending on various factors, including whether the travel period exceeds 32 days, and if the destination you are travelling to is local or overseas. The underwriter will also consider whether the trip is being taken for leisure or business purposes. Should an individual be splitting their travel between business and leisure, an appropriate ratio will be determined, which will also influence the cost of the premium.

The traveler’s health and whether they have any chronic conditions will also be considered. While activities such as swimming and hiking will be included as a standard component of the policy, if an individual is travelling to take part in a professional sporting competition or extreme sports event, this too will affect the price of the premium.

“The exclusions, as well as the conditions of each policy, will vary greatly from case to case. For this reason, it’s important for travelers to talk to their insurance advisers ahead of time and discuss aspects like their itinerary, whether family members are accompanying them, and any illnesses that need to be factored in,” says de Kock.

While not included in a comprehensive travel insurance policy, something else to keep in mind before heading out on your trip is to secure your property while you’re away. “There are several robust security measures you can implement to ensure your property is protected while you’re on holiday,” says de Kock. “This includes ensuring your alarm systems and locks are all in working order, removing valuable assets and documents or storing them in a safe – as well as hiring a house sitter to deter criminals.”

PERSONAL FINANCE