GREATER importance
is being placed on
having comprehensive
travel insurance as travellers
start to experience the
repercussions of inadequate
cover, industry authorities say.
With the consistent
decline of the rand, medical
emergencies abroad have
become more expensive.
“Every time the rand drops,
claims go up,” says TIC sales
and marketing manager,
Simmy Micheli. She says as
medical claims are paid in
foreign currencies, bills can
become more expensive from
one day to the next.
This can create havoc with
an underinsured traveller’s
budget. While medical
travel insurance of R1m to
R2m may previously have
been enough, in the current
economic climate this can
quickly be exhausted, says
Simmy. For example, a
medical emergency in the US
can cost up to US$10 000
(R154 000) for one day’s
treatment.
Many clients don’t realise
how expensive it would be
if they were to end up in
hospital, agrees Wybrandt
Lubbe, sales manager of
travel insurance for the
Bidvest Insurance Group. For
example, a skiing accident
resulting in a broken leg could
end up costing the traveller
around €75 000 (R1,3m).
Most travellers happily
hop on their overseas flight
thinking the free travel
insurance offered via their
credit card or medical aid is
enough, says Jason Veitch,
head of TIC. “Unfortunately
credit card companies and
medical aids offer limited
cover, particularly if you have
a lower level card or plan.”
He adds that some of
the free credit card travel
insurance services exclude
pre-existing emergency
medical and related
expenses, “so if you have
a heart condition, you will
not be covered if you suffer
a heart attack while on
holiday.
