With the holiday season fast approaching, many people will be heading overseas. A recent survey undertaken by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade, has shown Australians are becoming increasing complacent about travel insurance. ICA says the insurance industry is concerned that 215,000 Australians travelled to Southeast Asia last year without insurance.
What’s more, it seems there’s a lack of understanding as to inclusions and exclusions in policies ̶ travellers may unwittingly void their travel insurance if a claim involves risky behaviours including:
- Drinking alcohol and being affected by it (48% of travellers to Indonesia)
- Engaging in a high-risk water sport (25% of travellers)
- One in four Australians rode a motorbike or scooter during their trip. Of those with insurance, 58% didn’t know if their policy covered this activity.
Many travellers ̶ it’s estimated as high as one in five ̶ also fail to declare a pre-existing medical condition to their insurer.
If you’re heading overseas, talk to your local Phoenix Insurance Broker before you depart to ensure you’re adequately covered. You might be very glad you did. For more information on this survey and its findings, please click here