If chance and fate conspire against you, neglecting to take out insurance will add insult to injury and loss. For the cost of a good night out you can cover yourself and your family for a vast array of mishaps while you are on the road.
If you are travelling overseas it is a well-known fact that hospitals and medical services cost a small fortune; especially if the rand is 15 to 1 against the local currency. If you have a medical emergency in Paris, you may be presented with a Million Rand bill as the cheery nurse waves Au Revoir and hands you a Teddy Bear. If you fly to Cape Town, and your bags go to Bloemfontein travel insurance will stop you from having to borrow your teen’s way too tight skinny jeans and Justin Bieber T-shirt with sparkles.
You automatically get travel insurance when you use your Master Card or Visa Card to buy air tickets but it does not cover every eventuality. You need to read your policy carefully to find out what it covers. Do your homework and look at the range of cover and plans on offer. Travellers have different needs so cover should be tweaked to fit requirements.
For example, on some policies you’ll only be covered for 30 days of your trip. If you’re not absolutely sure about how long or what you will be covered for, ask the provider to spell it out. In addition, if you are planning a trip overseas check with your medical aid to see if you’re covered. If there are limitations, study this part of your travel insurance carefully to ensure medical shortfalls are covered. Depending on what credit card you have, you may only get up to R50 000 of your medical costs paid, that’s about one night’s stay in a New York hospital.
Some other points to ponder:
- Make copies of all of your travel documents and keep them in a different place from your originals.
- Take note of your credit card numbers, bank and insurance company contact numbers.
- Send an email to yourself with the details so you can access it from anywhere.
- Don’t carry all your money and cards in the same wallet.
If you are travelling locally by car, vehicle insurance is a non-negotiable, accidents increase over the holiday period, so don’t take a chance.
Some Tips
- If you have neglected a service or two now is the time to check everything
- If the car had been badly maintained your insurance company may not pay out
- Make sure you have effective ant- theft devices and before you park your car for the day ask the locals if the area is safe
- If you are sharing the driving call your insurer that your car is covered for another driver
When it comes to your home, leaving your property unattended can increase the risk of burglary. Make sure you have the right coverage and take extra precautions.
Some Tips
- If you have neglected a service or two now is the time to check everything
- If the car had been badly maintained your insurance company may not pay out
- Make sure you have effective ant- theft devices and before you park your car for the day ask the locals if the area is safe
- If you are sharing the driving call your insurer that your car is covered for another driver
While insurance is not the most exciting thing you can spend your cash on this holiday season, the peace of mind you will achieve will let you get your well- deserved rest.
Article Credit: http://www.biznews.com/wealth-building/2014/11/24/insurance-holidays-dont-leave-home-without/
