Travel insurance claim worth more than double the average house deposit in Sydney

Posted: 12 July 2017 4:22 pm
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Important:

Travel insurance rules continue to change as a result of the coronavirus pandemic. We’re working hard to keep up and make sure our guides are up to date, however some information may not be accurate during the pandemic. It’s even more important to double-check all details that matter to you before taking out cover. Please know that some policies may not be available through Finder at this time. Here are some helpful tips:
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    Person falling down while snowboarding
    And the largest travel insurance claims of the last year.

    An accident while skiing in Canada left one Sydney-based traveller with a claim worth more than double the average home deposit, according to the latest data from InsureandGo Travel Insurance.

    The incident, which resulted in a claim for $256,000, was the result of multiple injuries and the fact that the policyholder needed to be repatriated back to Australia.

    Medical costs can add up quickly while overseas and often catch people unaware, according to head of implementations and operations at InsureandGo Victor Quiroz.

    “It’s very easy for this to happen, as medical emergencies can involve costly procedures, specialist appointments or even flying a family member overseas to assist with the journey home,” Quiroz said.

    The second largest claim from the last year was for a traveller who required medical repatriation from the US, at a cost of just over $200,000. The third largest claim was for a traveller to one of Australia's favourite destinations, Bali, and cost $114,000.

    “It’s not surprising that one of the biggest claims has come from the United States, which consistently ranks as one of the most expensive countries for medical assistance," said Quiroz.

    An analysis of repatriation costs from Allianz Global Assistance in May this year found that on average, the US is the second most expensive country to need repatriation from, followed by Switzerland and Canada. Surprisingly, Peru was at the top of the list.

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    warning Finally, some good news! Domestic travel is picking up, so some insurers have started offering cover again 🦘
    Just remember, you won't be covered for any pandemic related claims if you do take out domestic travel insurance.
    International travel insurance is limited and sometimes unavailable at this point.

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