The winter months are a great time to be travelling to warmer climates, and that’s what thousands of retirees do. However, travel comes with risk. Not only is there potential for disrupted travel (due to weather, war, missed and delayed flights) but also the risks of becoming ill while overseas or losing personal effects. Any of these adverse events can cost you a lot of money, which, especially when you have scraped funds together to pay for your trip, you may not have on hand. Some of the highest travel insurance claims come from becoming ill in another country. Medical bills can be in the hundreds of thousands of dollars, depending which country you are in. The cost of bring an ill or deceased person back to New Zealand is also significant.

Travel insurance is available to give peace of mind when travelling, whether you are travelling in New Zealand, the Pacific region or any other part of the world. Examples of the events covered are:

• Medical costs and evacuation costs
• Personal living allowances while in hospital
• Overseas funeral expenses
• Emergency dental treatment
• Personal accidents
• Rental vehicle excesses
• Costs of cancelling or changing travel plans due to unexpected events either before or after you leave
• Lost personal belongings including bank cards, passport and travel documents

When comparing insurance polices from different companies, you need to look at the detail of what exactly the policy covers, the excesses that apply, and any exclusions. For example, if you are an adventurous traveller who likes activities such as climbing mountains, skiing or diving,  make sure you policy covers these activities. If not, you may be able to add this cover for an extra premium.

You must also be upfront with your insurer about any pre-existing health issues you have or you might find you are not covered for any medical or other expenses relating to these conditions while you are away. Depending on the nature of your health situation, the insurer may exclude certain items from your insurance or charge a higher premium.

There’s a number of ways you can purchase travel insurance. You can purchase directly from an insurer who offers travel insurance and you can purchase from your travel agent or airline. You may also be eligible for travel insurance through your credit card provider if you have paid for you travel with your card. In all cases, it is important to look at what you are covered for, to make sure you are covered for the things that matter to you at an affordable price.