You are here

The Importance of Travel Insurance

9th February 2017

If you’re heading overseas, you’re probably asking yourself a bunch of questions about travel insurance. So to help, we’ve taken some of the most common questions travellers ask, and answered them.

What is travel insurance, and why do you need it?

Travel insurance is there to protect your investment. Really anything in life that has value (like your health or home) is best insured against damages. And your travel is one of them

If your plans change or you end up in trouble, it can do more than just ruin your holiday. It can actually cost you thousands – depending on whether you need emergency flights home, or immediate health care.

How can travel insurance protect my investment?

Travel insurance will often help in the event of:

  • Disruptions (like delayed flights, changing hotel bookings, returning home in the event of an emergency)
  • Natural disasters that impact your travel (or even prevent you from going)
  • Medical emergencies on your journey
  • Damage or theft of your belongings on your trip.

But, these are just the basics. Have a simple chat to a fair-dinkum travel insurance agency, and you’ll find there’s a travel insurance policy to suit absolutely any holiday plans.

What Would It Cost Me Without Travel Insurance?


We’ve got such a good answer to this one. It even has references.

According to research conducted by Colmar Brunton*, 18% of Kiwis travelling overseas go without travel insurance. How many of these people experienced an insurable event on their holiday? Could you afford to take the chance that you might be one of them? When you look at what something as simple as a fall on a slippery path, or your luggage being stolen, could cost you, how could travel insurance not be a top priority?

So we can’t give you an exact figure of how much it’ll cost you, because it all depends on what trouble you face. But even the smallest glitches in your journey can come to thousands of dollars, and major issues can push into the dreaded 6-digits.

If it happened to me, would I be able to afford it?

While we hope it never does, you never know when you’ll slip down some stairs in Siena. Or break your toe in Thailand. Or lose your luggage in London. And for most Kiwis, it’s hard to find the cash needed to resolve these issues without insurance.

If you’d like further information about travel insurance, read more about Cover-More online, or head in and chat to the FXperts at your local Travel Money Nz store.


*Colmar Brunton research originally appeared in a news article for – “Kiwis going to Australia without travel insurance are taking big risks”, 28 October 2015. ^Limits, exclusions and conditions apply. Insurance issued by Great Lakes New Zealand. Please consider your financial situation, needs and objectives and read the Policy Wording available from us before deciding to buy this insurance. ~Customer examples provided by Cover-More website

This blog is provided for information only and does not take into consideration your objectives, financial situation or needs.  You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs.  While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you.  We are not liable for any loss caused, whether due to negligence or otherwise, arising from use of, or reliance on, the information and/or suggestions contained in this blog.