Should I get a paid Travel insurance policy?

[ffhound]

Hi everyone

I am going to Europe for 4 weeks in June and am contemplating getting a paid travel insurance policy.
I have an ANZ travel adventures credit card and a Westpac Altitude credit card and have qualified for the free travel insurance on each of these cards.
Would the combination of these free travel insurances be sufficient for my trip or us there some advantage to paid insurance policies that I have overlooked. Both policies are with Allianz.

Thanks Peter

 

[RooFlyer]

One thing to watch if you have several sources of coverage is that any one company might ask you about other cover you could claim on. Then they can try to bat you back and forth.

Personally I always get the paid coverage as I find the coverage is more comprehensive.

 

[Peter D]

I have relied on ANZ, Westpac and NAB insurances over the years. Of course they are not “bank policies”. They just bulk buy a policy from an insurance company. Choice did a comparison that recommended CC policies.

My next trip will be using Bankwest and they have just changed from Allianz to Covermore.

From reading the disclosure statements, both bank and paid policies are pretty standard.

Either way always read the disclosure statements to be sure your particular needs are covered.

 

[opusman]

There's no reason imo to pay for a policy if you have a CC one that you've met the activation terms for.

 

[p--and--t]

Read the terms and conditions and cover values.

Depends on the bank and depends on the card type.

Examples:

CBA - cover is not automatic and need to register every trip and get a cover note and comply with payment conditions.

ANZ - Black card gives much better coverage than lessor cards. Don't need to register and get a cover note.

PS: Personally I have an ANZ Qantas Black card and a Diners Qantas FF card and do not purchase paid insurance.

 

[serfty]

Read the terms and conditions and cover values.

Agreed - know the PDS.

My last trip was paid for in full be a CC which activated it's insurance; however, since I take Cholesterol medication, automatic cover for health was not available as that was a 'pre existing condition". I was covered for everything else such as delayed baggage, theft etc. .

So I took out a separate basic policy that covered me for Health issues - my condition although pre-existing was exempt.

 

[Austman]

Great information serfty.

CC travel insurance usually excludes pre-existing conditions. Many of which are very common. I just called my CC TI provider and they quoted a $75.00 assessment fee per trip to approve or refuse a particular pre-existing condition. You get the $75.00 back if it's refused.

Whereas the same insurer will include many pre-existing conditions in their purchased policy.

 

[ffhound]

Can anyone comment on the Westpac Altitude insurance through Allianz?

 

[opusman]

If a pre-existing condition is excluded it doesn't mean all health cover is excluded. If you fall and break your leg you'll be covered whether or not you have high cholesterol.

 

[Austman]

If a pre-existing condition is excluded it doesn't mean all health cover is excluded. If you fall and break your leg you'll be covered whether or not you have high cholesterol.

True, but if you have a pre-existing condition, you'd have to realise that insurable events caused by it are not be covered with many (or most?) CC TI policies without a new assessment before each trip.

 

[Peter D]

Can anyone comment on the Westpac Altitude insurance through Allianz?

I have relied on it in the past and am happy with the disclosure statement for my circumsatnces.
They also always accepted our declared pre-exiting conditons for a fee. About $75 each per trip if I remember right. Might be more now.

 

[Peter D]

It’s always puzzled me why travel writers, commentators and advisors often say CC policies do not cover pre-exiting conditions. Someone said it once and it gets repeated.

The comparison sites always say CC does not cover them. But those sites are in the business of selling policies.

I have never had an issue with any of my CC insurances regarding pre-existing conditions. They all seem to have the same list of about twenty conditions that are automatically covered. Paid policies I have looked at also seem to use the same list. In some cases even the same list numbers.

My wife and I both declare our unlisted pre-existing conditions online and pay the extra fee.
One also has to declare them when applying for a paid policy. Where the premium will then include extra cost.

 

[Austman]

I have never had an issue with any of my CC insurances regarding pre-existing conditions.

I called mine today. That's an Allianz cover from a Citibank CC. It seems a common CC cover.

They confirmed: Pre-existing conditions are NOT covered in their CC TI policy unless you pay for a new assessment before each trip.

Interestingly, the paid Allianz TI does cover many pre-existing conditions.

My wife and I both declare our unlisted pre-existing conditions online and pay the extra fee.
One also has to declare them when applying for a paid policy. Where the premium will then include extra cost.

Sorry, that seemed to be added to your post a bit later....

But for me, adding the pre-existing condition made no difference to the paid for policy cost. It was included.

Paying $75.00 extra each trip for CC TI? For frequent travellers, it can be worth taking out a paid annual policy.

 

[suze2000]

Last time we went OS, I bought separate policy from Covermore, even though we qualified for CC insurance from two different providers. Because both hubby and myself have chronic illnesses and at the time I had an ACL in need of a reco, I wanted comprehensive coverage in case.

 

[Peter D]

Paying $75.00 extra each trip for CC TI? For frequent travellers, it can be worth taking out a paid annual policy.

Agree. That would be pain in the A if you did several trips a year. An annual policy would be the way to go.
Our travels these days fewer but are for as long as we can make them (family/grand children permiting) .

 

[ramboflyer]

We're heading overseas in July and have already activated 2 cc policies by paying for travel. We still need to buy a seperate policy though because my mother in law is 88 y.o. and cc policies dont cover family members over 80.

 

[baldman]

Anyone with experience/comments about the adequacy of the amex platinum charge card cover ? Also, has anyone seen a comprehensive review/comparison of cc travel policies ? That would make interesting reading and what I was hoping the original web post was addressing.

 

[sabre1]

Hi everyone

I am going to Europe for 4 weeks in June and am contemplating getting a paid travel insurance policy.
I have an ANZ travel adventures credit card and a Westpac Altitude credit card and have qualified for the free travel insurance on each of these cards.
Would the combination of these free travel insurances be sufficient for my trip or us there some advantage to paid insurance policies that I have overlooked. Both policies are with Allianz.

Thanks Peter

Be cautious about the many 'hidden' conditions on the card insurance policy. As an example, I relied on card insurance on a multi stop holiday to Asia. I purchased all the outward tickets but left free the last return leg as I had not decided on a return date.
When I made a claim due to partner illness and consequent cancellation, the company refused to pay because I did not have a return ticket. When questioned, the company said that if I held any return ticket to Australia, for example Bali to Darwin (I live in Perth) and although it would have been an open-jaw leg, then I would have had a valid claim.
In other words, if you have not decided on your return date and flight, then buy the cheapest fare from the closest overseas airport to any city in Aus, and it should validate your cover. It might only be a hundred dollars or so but it may be cheaper than buying separate insurance.
The lesson I learnt was - read the multi page information brochure issued by the insurer before you commit to the card insurance

 

[MagdaJ]

Hi everyone

I am going to Europe for 4 weeks in June and am contemplating getting a paid travel insurance policy.
I have an ANZ travel adventures credit card and a Westpac Altitude credit card and have qualified for the free travel insurance on each of these cards.
Would the combination of these free travel insurances be sufficient for my trip or us there some advantage to paid insurance policies that I have overlooked. Both policies are with Allianz.

Thanks Peter

Well feoolw travellers. I fell ill with sinus infections which probably started in Sri Lanka but worsened I Bangkok. Hotel call doctor and I was taken by ambulance to hospital . ICU for 2 nights. All treatments and expenses , amounting to $3000 was covered by Amex complementary card cover within a week. Chubb is insurer. Great hospital by the way, 5 star treatment and amenities.
Friends have had similar experiences with Visa

 

[Peter D]

Choice gives unbiased comparisons and there are many articles that do not require you to be a subscriber. It’s always worth checking for anything you are thinking of buying.
Try the following

How to buy the best travel insurance - CHOICE

Credit cards for Australian travellers | CHOICE

Travelling overseas? Compare fees and features on credit cards from CommBank, Bankwest, Westpac and more against the best fee-free credit cards.

www.choice.com.au