The travel insurance South Africa (SA) industry is relatively small and specialised where there are a handful of players including TIC, Hollard’s Oojah, the American International Group, the ACE Group, Regent and Zurich.
And as South Africans no matter which destination you’re travelling to travel insurance is something you should consider, and not only if you’re travelling in a high risk location. But also don’t skip out on travel insurance even in the lowest risk trips, as you never know what might happen. While on your overseas vacation you could slip on the steps, fall and break your ankle in two places, resulting in medical costs of almost half a million rand. Therefore travel insurance South Africa is necessary.
The three important and basic risks to make sure you’re covered for when you travel are medical, cancellation, curtailment cover and luggage. SA jetsetters, whether they’re business or leisure travellers submit travel insurance claims mostly for medical claims. The most expensive being especially those caused by motor vehicle accidents, heart or brain problems and bowl obstructions, as well as incidents of limb fracture and food poisoning, which could still burn a hole in the pocket due to the average doctor consultation costs.
Then coming in second was travel insurance claims for cancellation or curtailment claims and luggage claims coming in at third. This according to one SA insurer TIC owned by Santam, as quoted in a Mail & Guardian Online 2014 article.
As a general rule in regards to travel insurance take some basic steps before departing to ensure a safe and incident-free trip. Familiarise yourself with the ‘small print’ of your travel insurance policy and keep this in mind for your travel insurance South Africa that most insurers will not pay out in cases where you injure yourself or others when you’ve been drinking alcohol.