Who is Vero Insurance?
Vero Insurance issues and underwrites insurance options for some of Australia’s most respected institutions. It’s the job of the underwriter to evaluate risk and set premium prices for insurance cover, and Vero underwrites policies across a wide range of markets. With a history of more than 180 years of creating insurance solutions for Australians, Vero has grown to become one of the most respected insurance groups in the market.
In addition to business, public liability, home and motor insurance, Vero also underwrites competitive travel insurance policies. Vero’s travel insurance policies are offered by companies such as Suncorp and Westpac, so read on to find out a little more about the features offered by Vero’s travel insurance policies.
Suncorp Travel Insurance, underwritten by Vero, is available from the Suncorp Group. The Group has five core business and brands across Australia and New Zealand: Personal Insurance, Commercial Insurance, Vero New Zealand, Suncorp Bank and Suncorp Life. With nine million customers and some $96 billion in assets, the Group is backed by significant financial strength. In fact, it is the largest general insurer of Australians (in terms of Gross Written Premiums) and New Zealand’s second biggest general insurer.
Bank of Queensland Travel Insurance is available for both business and leisure trips and is offered by one of the biggest regional banks in Australia. Bank of Queensland is an independent financial institution with more than 250 branches across the country. With an aim of creating simple and straightforward products that meet the needs of its customers, Bank of Queensland offers everything from savings accounts and credit cards to a wide range of business banking and insurance solutions.
GIO Holiday Travel Insurance offers comprehensive cover for Australian travellers. GIO Australia can trace its history back to 1927 when it was established as the Government Insurance Office, and today it is part of the Suncorp Group. GIO offers a wide range of insurance products to Australian customers, including car insurance, home insurance, boat insurance, CTP insurance, life insurance, business insurance and travel insurance.
Newcastle Permanent Travel Insurance offers competitive cover and is underwritten by Vero. Based in the Hunter region of New South Wales, Newcastle Permanent has been offering banking and financial solutions to its customers since 1903. As the largest customer-owned banking institution in the state, Newcastle Permanent manages more than $8 billion worth of assets. In addition to travel, car, home and contents, and landlord insurance, it also offers transaction and savings accounts, home loans and credit cards.
Well-known insurer AAMI also offers travel insurance underwritten by Vero. With more than 2.5 million policyholders around Australia, AAMI is also a part of the Suncorp Group. In addition to travel insurance it also offers car, CTP, home, life, motorcycle, caravan and business insurance policies to its millions of customers.
What cover does Vero offer through these brands?
Vero issues its Secure Holiday Travel Insurance policy to all of the institutions listed above. Although the final product is offered by a range of different companies, it is essentially the same insurance policy simply sold under a variety of names. It doesn’t matter where you purchase the policy from, as you will still receive the exact same level of cover.
While you cannot purchase Secure Holiday Travel Insurance online through the Vero website, you can buy this policy from Vero over the phone by going through the company’s switchboard.
What does the Vero Holiday Travel Insurance policy cover?
- Cancelled travel and accommodation expenses. When circumstances beyond your control force you to cancel or cut short your holiday, for example if you lose your job or if you need to return home to look after your sick mother, Vero Holiday Travel Insurance provides cover for the cost of non-refundable deposits and any cancellation costs. Unlimited reasonable expenses are covered under the policy.
- Overseas medical and dental expenses. The policy provides cover for the overseas medical expenses you incur during your journey. This includes ambulance transportation costs, medical and hospital bills, emergency dental costs and medical repatriation back to Australia if required.
- Additional transport and accommodation expenses. If you fall ill or are injured during your trip and are unable to complete your journey, or if you need to return home following the unexpected death, injury or illness of a relative or travelling companion, your policy will cover the additional accommodation and transport expenses you incur as a result.
- Cash paid while you are in hospital. Vero Secure Holiday Travel Insurance offers a $100 cash allowance for every day while you are an in patient in hospital, up to a maximum of $6,000.
- Delayed transport – accommodation and meal expenses. If your scheduled transport is delayed by circumstances outside your control for more than 12 hours, you’ll receive up to a maximum of $1,000 from your policy.
- Personal baggage and travel documents. When your luggage, clothing or personal effects are lost, stolen or damaged during your journey, you’ll be covered for the cost of their repair or replacement up to $6,000. The following per-item limits apply: $3,000 per item for electronic equipment, $1,000 per item of sporting equipment, $700 per item for all other items.
- Accidental death. A $25,000 benefit payment will be provided if you die during your journey as the result of an accidental injury.
- Personal liability. If you are deemed legally liable of causing injury, death or property damage, a maximum of $5 million of liability cover is provided for all claims arising from one event. This includes cover for all legal costs and expenses you may incur.
- Disability. If you suffer an injury during your journey which us caused by violent, accidental and external means, you may be eligible for a benefit payment of up to $10,000. The benefit will be paid if you suffer total loss of sight in one or both eyes, or the permanent and total loss of use of one or more limbs.
- Resumption of journey. If your journey has been interrupted, perhaps to return home after a relative’s death or illness, and you decide to resume your journey within 12 months, the costs you incur to resume your journey will be covered up to a limit of $2,000.
- Special event cancellation expenses. If you are unable to attend a pre-arranged special event due to circumstances outside your control, the cost of your unused special event tickets will be covered.
- Delayed baggage – emergency purchases. If your baggage is lost or delayed for more than 12 hours, you’ll receive an allowance to purchase emergency clothing and toiletries.
- Hire car insurance excess. If you crash your rental car or it is stolen or damaged, your policy will cover the cost of the rental company insurance excess.
What events are excluded from the policy?
As you would expect from any sort of insurance policy, there are certain circumstances under which claims on your Secure Holiday Travel Insurance policy will not be paid, including:
- If it is for a pre-existing medical condition suffered by you or a travelling companion that has not been previously disclosed to the insurer and approved for cover.
- If it is for any elective medical, surgical, dental or cosmetic procedure.
- If you fail to take reasonable care to prevent having to make a claim.
- If it is for an unlawful act committed by you.
- If it is for any mental, psychiatric, nervous, emotional or behavioural disorders, including stress, anxiety and depression.
- If it is for physical, mental or emotional exhaustion.
- If it is for intentional self injury or suicide.
- If it is related to the use or effect of alcohol or drugs.
- If it relates to any sexually transmitted disease.
- If it relates to pregnancy or childbirth.
- If it is for motorcycling, unless you’re on a hired motorcycle with an engine capacity of less than 200cc, and you hold a valid licence.
- If it is for professional sport, hunting or racing of any kind.
- If it is for an event that takes place in a country not listed on your policy schedule.
- If it arises from you doing paid work on your journey, unless that work is for your usual employer and was arranged before you started your trip.
- If it relates to acts of war or terrorism.
- If it results from the financial failure of any person, company or organisation.
- If your claim is for an event covered by a Reciprocal Health Care Agreement.
- If your claim is for consequential loss of any kind.
How do I make a claim with Vero?
When you need to make a claim on your Vero policy, you’ll need to contact Vero as soon as possible. If you’re in Australia, you can phone 1800 646 279 or email firstname.lastname@example.org. If you’re outside the country, you can phone +61 2 8987 1625 or send an email to the same address listed above.
At your own expense, you’ll need to provide any information or documentation Vero requests to support your claim. This may include:
- Medical and dental certificates
- Reports from specialist doctors
- Police reports
- Proof of ownership, ie receipts
- Travel itineraries
- Airline, bus, train and other transport tickets
- Luggage tags
It’s also vital that you immediately send Vero any court or legal documents which you receive about your claim. Once Vero has received all the required information, you’ll be informed whether your claim will be accepted within 10 working days.
Can I cancel my Vero policy?
You have the right to cancel your Vero policy at any time by simply informing the insurer that you wish to do so. Vero will subtract an amount from your premium to cover the period for which you have enjoyed protection under the policy, and the unused portion of the premium will then be refunded to you. Where the law permits, Vero can cancel your policy by telling you in writing.Back to top