I have travel insurance included with my credit card. Isn’t that enough?

No.

Some banks offer free travel insurance if you purchase your travel tickets using that credit card. However, as it is a free value-added product, it’s not as comprehensive as you’d think. Here are some of the drawbacks of free travel insurance products:

  • They’re limited in terms of cover
    The values offered are a one-size-fits-all policy that gives you basic travel insurance. However, don’t under-estimate the cost of re-booking flights or medical expenses when you’re paying in a foreign currency. Your free policy might have vague terms such as “reasonable expenses” whereas our policies are explicit in the total value of cover you’re getting.
  • They don’t cover all aspects of your trip
    Some free policies only cover the travel expenses paid by the card. If you’ve paid for certain expenses via EFT or with other banking products, you might not be completely covered.
  • They don’t cover any adventure sports
    If you’re looking to go quad-biking, rock-climbing or any list of activities listed here, your free insurance won’t cover you. We have a specific product for Adventure Travel that can protect you for these activities.

Considering the marginal cost of a comprehensive travel insurance policy, it’s really worth ensuring you’ve got yourself properly covered.

Why do I need travel insurance?

Yesterday, possibly over 1000 flights were cancelled globally. (Live flight stats)

You could have been booked to be one of them, and now you’re stranded at the airport, missing your connecting flight, your hotel booking and your concert or your business meeting. The reality of travel is that there are many things outside of your control that can have a negative impact on your trip and your back pocket.

Travel insurance is there to assist you when these things happen. The key areas that our online travel insurance policy covers are:

  • Emergency medical and related expenses, paid in foreign currencies. A GP trip in the UK can cost you £200, and the medical expenses in the USA are astronomical.
  • Lost luggage and personal effects
  • Costs for delayed or cancelled flights or trips
  • Accidental disability and death cover
  • Personal liability cover

Because of the likelihood of problems and the financial impact, proof of travel insurance is mandatory when visiting many countries, especially during the visa application process.

Considering the cost of travel insurance as a percentage of the entire cost of your trip, is it really worth it not taking comprehensive travel insurance?