Travel Insurance - What Customers Need to Know When Buying

SYDNEY, October 8, 2012 /PRNewswire/ -- It used to be that a passport, credit card, travel insurance, and a relaxed attitude were the only true holiday essentials.

Today many customers wouldn't think of getting on the plane without their smartphone, iPad and professional-quality digital camera. Not to mention the scores of honeymooners heading abroad with a small fortune on their fingers.

With the value of our personal belongings heading upwards, online travel insurer - Southern Cross Travel Insurance (SCTI) is urging travellers to ensure their travel insurance cover is sufficient for the value of the items they plan to take away.

For an extra premium, cover for high-value items can be included under an SCTI travel insurance policy as a "specified item". The maximum cover for a single specified item is AUD$10,000, while the maximum cover for all specified items on a policy is AUD$15,000.

Without this extra cover, the maximum that can be claimed for jewellery and watches is AUD$2,500 in total, for a laptop AUD$3,000, and for a camera AUD$1,500.

SCTI CEO, Craig Morrison said that when deciding what items to take overseas, travellers also needed to consider what evidence of ownership they currently have.

"In the unfortunate event an item is stolen, lost or damaged, SCTI policies require travellers to have some proof of ownership."

"Ideally this will be original receipts, but we would also accept bank or credit card statements showing the purchase of the item, or reprinted receipts from the store where the item was purchased. If there are any questions, get in touch with us to discuss what forms of proof might be acceptable."

Morrison said tough economic times meant theft was an unfortunate fact of life. His best advice for travellers was to simply leave valuables at home. However, if a person couldn't be without their ring, iPad or iPhone, he has the following tips:

Before you go:

• Check your policy to ensure cover is adequate for the value of the item you plan to take away. Cover for specified high-value items can be included under SCTI policies for an extra premium payment.
• Ensure you have adequate proof of ownership in the event you need to claim. If not an original receipt, this could be something like a listing under a home and contents policy. Check with your insurer to see what they will accept.

While away:

• Make use of your hotel safe, and only carry essential items and a small amount of cash when out sightseeing.
• Flights: When flying, place valuables in carry-on luggage (not check-in).
• Closely guard or secure your items at all times. SCTI policies don't provide cover for items left unattended in a public place, in a vehicle overnight, in unlocked premises or an unlocked vehicle.
• Notify the authorities. If theft of an item does occur, SCTI requests that authorities are notified within 24 hours of the discovery of the theft and an official report obtained. The original of this report must be kept for the insurance claim.

For more information on SCTI policies, visit www.scti.com.au.

About Southern Cross Travel Insurance (SCTI)

Southern Cross Travel Insurance (SCTI) is an APRA and ASIC regulated general insurer. We are a member of the Financial Ombudsman Service, the Insurance Council of Australia and a signatory to the Australian General Insurance Code of Practice.

SCTI began operations in NZ in 1982, and is a travel insurance specialist. In both NZ and Australia, SCTI insures hundreds of thousands of travellers and offers customers a wealth of experience and expertise.

Dealing direct with our customers, those who travel with SCTI know they can trust us to look after them if the unexpected happens. Dealing direct online with our customers helps us keep our overheads down and therefore pass on savings to our customers through cheaper premiums.

Southern Cross Benefits Ltd trades as Southern Cross Travel Insurance (SCTI) who is the underwriter and distributor of the TravelCare policy.

Contact:

Aimee Bourke
Group Communications Manager
aimee.bourke@southerncross.co.nz
+64-9-925-6420