Travel Insurance - The Cheapest and the Best

[markus_welby]

Having worked in risk management for a number of Australian insurance companies, I can actually read the convoluted legalese they refer to as an insurance policy. The best value I've found is with www.travelinsurancedirect.com.au . It's underwritten by Allianz so they're extremely reputable, and the policy is more generous than many costing 4 times as much.

 

Never purchase a travel insurance policy through a travel agency. It's where they make their real money. The markups are extraordinary.

 

With www.travelinsurancedirect.com.au , you can also get 15% off what is already the cheapest policy around by using this promotion code when you get a quote online: TIDLAS04

 

I'll be in Thailand for 2 weeks and my policy will cost $66.30. My travel agency quoted just over $200 for a policy that actually provided less cover.

 

And since I also save approx 10% on flights with Thai Airways, the policy is basically free and I still save money on the flight. For details on discounted Thai Air flights from Australia see my other thread:

http://www.pattaya-addicts.com/forum/Aussi...ays-t33392.html

Edited January 19, 2009 by markus_welby

[Jboy]

great info and yes I used same insurance my last 2 trips and its far better value....good useful info...

[niftynau]

Done mine last week online with Covermore Travel Insurance, cover for just over 3 weeks A$227...Always used Covermore but this premium was up considerably...

 

Was going to search for a cheaper company but sometimes cheaper is not always the best unless someone recommends an alternative..Wish i had left it another week, big difference...

 

Thank's Marcus Wellby, shall try next time..

[LMNOP]

www.columbusdirect.com.au

 

I use these guys Columbusdirect there pretty on the ball to deal with and gave me a great price last time

[niftynau]

Has anyone ever made a claim from these companies and how good are they then?...Great to have a good premium as long as there's nothing in the small print if a claim eventuates...

[LMNOP]

Niftynau I would say that Marcus Wellby has read the fine print and knows the loop holes, I know that Columbus being under signed by Lloyd's makes them a reputable company.

[LMNOP]

Marcus what are your oppinions on doing something like this http://www.columbusdirect.com.au/annual_travel_insurance.asp ?

[flynn]

get a credit card with travel insurance for free if you book your flight with the card.

[BSJ]

Last trip I lost my camera gear and made a claim with Mondial Assistance. They are the biggest butt reaming assholes I have ever come across. Fucked me around for months.

 

I've had travel insurance with a couple of others and made claims without to much hassle. Never again for Mondial!

[REDDWARF62]

Purchased 25-28 day comprehensive cover for $98 in March with 1cover.com

Coverage appears to be good.

Fingers crossed after reading post by BSJ. They appear to be underwritten by Alliance with Mondail assistance.

[xen]

I have been using Columbus for well over a decade but still never tested them out with a claim. That is the time u find out how good they are and then ,by the time u make a claim , it is too late.

[markus_welby]

Marcus what are your oppinions on doing something like this http://www.columbusdirect.com.au/annual_travel_insurance.asp ?

 

Sorry I took a while to reply, been away from computer fishing down south in Western Australia, had a blast.

 

Columbus look pretty average IMO, a few things I noticed that would deter me is valuables cover was limited to $750 which is not going to cover my laptop & camera, whereas Travelinsurancedirect (TID) has up to $16,000 for this. There are many other differences when comparing the policies side by side, the claim excess is much higher with columbus, medical cover is not unlimited with Columbus, in fact just about every area of cover offers less with Columbus than with TID.

 

I am also concerned that they state they are underwritten by "certain underwriters at Lloyd's of London" rather than simply underwritten by "Lloyds of London", it begs the question why they have to say this, it suggests something like a subsidiary of Lloyds to me and doesn't inspire the level of confidence I'd be looking for.

 

TID also provide annual cover, the policy price for Asia is $340 but you can reduce that by 10% to $304 using the code provided in the original post. Columbus quoted $275 for the same period and location, at a difference of less than $30 over a year I'd definitely do with TID.

[markus_welby]

get a credit card with travel insurance for free if you book your flight with the card.

 

Great suggestion IMO. Westpac provide this with their Mastercard in Australia. I understand it's also available with other banks and providers but only with Gold & Platinum card services.

 

It is worth noting the free cover provided usually doesn't include cover for dependents, doesn't cover laptops and typically has a high excess fee on the claim. Having said that, if I had the option I'd use it.

Edited January 31, 2009 by markus_welby

[Prodigy]

Thanks for the tip on this one, I used the promotional code and got the 15% discount, the last few times I have used RACV which cost me about $115 so this is a great saving, do you know what their policy is in regards to claims made againsts civil unrest??????

[LMNOP]

Thanks Marcus TID it is

[Bitch Controller]

I never travel with travel insurance especially to LOS, silly I know but very used to it. I do have travel insurance with my c/card however this offer the OP mentions sounds pretty good. Given the political tensions, I might just take it up.

 

Markus - does it cover Thai nationals who are in Oz on a full time visa, couldnt be stuffed trodding through the fine print.

[markus_welby]

Thanks for the tip on this one, I used the promotional code and got the 15% discount, the last few times I have used RACV which cost me about $115 so this is a great saving, do you know what their policy is in regards to claims made againsts civil unrest??????

 

Good to hear, I forgot it was 15%, thought it was 10%, excellent.

 

Regarding civil unrest, the answer is a 'definite maybe' ;) It depends on the current travel advisory at DFAT: http://www.smartraveller.gov.au . And of course the individual claims assessor.

 

But there are 3 general rules of thumb.

 

1. If it's generally known an area is experiencing a period of instability and things get worse before you travel you probably wont be covered for any cancellation expenses.

 

2. If you go somewhere which has experienced minor problems and things get much worse while you are in the area and you get hurt or delayed, your insurer will probably provide assistance as long as the deterioration in conditions was not generally expected.

 

3. If your Government is advising against all travel or all but essential travel there probably isn't any coverage at all.

 

So in Thailand, you could expect to be covered in the event of unrest because the current advice is to exercise caution, and is not at the 'Reconsider your need to travel' stage. Unfortunately you never really know as it depends on each individual situation. One thing for certain is you can expect zero coverage in the Thai provinces of Yala, Pattani, Narathiwat and Songkhla, as they are at highest threat level (Do not travel).

 

Hope that helps mate.

[markus_welby]

Markus - does it cover Thai nationals who are in Oz on a full time visa, couldnt be stuffed trodding through the fine print.

 

If they are classed as a "permanent resident" of Australia, then yes. Otherwise no. Unless they are married to an Australian as they can be included as a dependent on a family policy.

 

If they are not considered a permanent resident of Australia, TID are affiliated with World Nomads, which offers similar policies at comparable rates and are available to anyone: http://www.worldnomads.com

 

The level of coverage for some policy items is not quite as strong, for example personal effects is $2,500 instead of $16,000, but in general medical and travel delay coverage are still very good. The premium for my 2 weeks In Thailand would be AUD $78.50 with World Nomads, with TID it's $66.30. Still very cheap in my opinion.

 

I found a working 10% promotional code for World Nomads, it's WNXMAS and it was used when obtaining the quote mentioned above.

 

It's important to note that if the Thai national is considered a permanent resident of Thailand, even World Nomads will not issue a travel insurance policy for travel within Thailand. Everywhere else can be covered.

 

Hope that helps mate.

[nus01]

I am also concerned that they state they are underwritten by "certain underwriters at Lloyd's of London" rather than simply underwritten by "Lloyds of London", it begs the question why they have to say this, it suggests something like a subsidiary of Lloyds to me and doesn't inspire the level of confidence I'd be looking for.

They say this because its correct, Lloyds of London is not a Insurance Company its a group of underwriting syndicates.

 

There was once thousands its now down to about 70.

 

Most of the worlds leading Insurers have syndicates or shares in syndicates through Lloyds and anyone risk may be offered up to more than one syndicate , One syndicate may only be willing and to underwrite a portion of the risk and different syndicates pick up different portion of the risk. Therefore the Underwriter/s is "certain underwriters at Lloyds of London"

 

If its only one underwriting syndicate the underwriting should appear as underwritten by Lloyds syndicate no*****

[markus_welby]

They say this because its correct, Lloyds of London is not a Insurance Company its a group of underwriting syndicates.

 

There was once thousands its now down to about 70.

 

Most of the worlds leading Insurers have syndicates or shares in syndicates through Lloyds and anyone risk may be offered up to more than one syndicate , One syndicate may only be willing and to underwrite a portion of the risk and different syndicates pick up different portion of the risk. Therefore the Underwriter/s is "certain underwriters at Lloyds of London"

 

If its only one underwriting syndicate the underwriting should appear as underwritten by Lloyds syndicate no*****

 

Thanks for that explanation - makes perfect sense.

[nus01]

Last trip I lost my camera gear and made a claim with Mondial Assistance. They are the biggest butt reaming assholes I have ever come across. Fucked me around for months.

 

I've had travel insurance with a couple of others and made claims without to much hassle. Never again for Mondial!

Mondial are an Emergency assist company, and there service includes giving you basic information over the phone eg direction to the nearest hospital or police station all the way up to sending in a team of armed gorilla's and a helicopter to get you out.

 

They wouldn't of been processing your claim, it would be the insurer you had a problem with rather than the emergency assist company.

[Prodigy]

The Promotional code for this is not valid anymore is there an update?

[Prodigy]

I found a valid Promo code for Travel Insurance Direct which will give you a 10% discount TIDEGG

[zokk]

get a credit card with travel insurance for free if you book your flight with the card.

I have a card that offers insurance when you book flights over a certain value, but my flights were so cheap I haven't qualified for the cover

[Highlander]

Very useful info, I never travel without insurance.

 

Cheers

 

Highlander