When relying on travel insurance, carefully review the policy, understand the claims process, stay informed about travel destinations, and consider supplemental coverage for comprehensive protection and peace of mind during the journey.
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“I have heard that credit card insurance has a bad reputation, but having looked through the policy document, I think ASB’s actually looks pretty good. I am wondering if anybody has relied on ASB travel insurance here, if there is anything you know to watch out for, and if you have any experience of claiming? My parents will be relying on it for an upcoming trip to India and a couple of countries in the Middle East. I know it’s not a great time to be planning a Middle East trip, but it’s not for a few months, and they booked it a while ago. There should be enough distance from the conflict, and hopefully, everything will settle down before then.”
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While I cannot comment on the specific ASB product, there are a few things to remember when loved ones rely on credit card insurance or any insurance policy for travel.
Review the policy:
Carefully examine the travel insurance policy you are considering. Please consider what it covers, the coverage amounts, and any exclusions. Ensure it includes the countries you plan to visit and that the coverage limits meet their needs.
Claims and Process:
Understand the claims process, including the required documentation and time frames for filing claims. Ensure the people travelling know how to contact the insurer in emergencies, and they keep the contact information readily accessible.
Specific Concerns:
Monitor travel advisories and news about the regions they plan to visit. Be prepared for potential disruptions and ensure the policy covers unexpected events like trip cancellations, medical emergencies, and travel delays.
Consider Supplemental Coverage:
Depending on their specific needs and concerns, it might be wise to explore supplemental travel insurance options to address any potential gaps in coverage. This additional layer of protection can provide peace of mind and enhance their overall travel insurance package. Always maintain awareness of the policy details and stay informed about their travel destinations for a smoother and safer journey.
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The information in this post is only general in nature and is not personalised financial advice. Please contact us if you want financial advice.
