Credit Card Travel Insurance

Forums › Transport (cars, bikes and boats) › Credit Card Travel Insurance - Exclusions

Dulouz

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Topic # 185514 25-Nov-2015 20:01

When travelling I've relied many times on my credit card travel insurance and never had to make a claim. Since switching to Westpac I had a good read of the policy documentation and was surprised to see the following exclusion:

We shall not be liable to pay any claim under this policy resulting from: (a) Flood, storm, or earthquake;

This seems to me to be a significant exclusion and has made me think twice about using the card insurance for family trips.

Amanon

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Reply # 1434789 25-Nov-2015 20:03

Then that insurance is not worth the paper it is written on , in my opinion.

You should phone them to clarify.

dickytim

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Reply # 1435109 26-Nov-2015 12:29

don't most policies exclude "act of god" situations?

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sbiddle

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Reply # 1435117 26-Nov-2015 12:37

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The Westpac policy is backed by AIG who also do the ANZ policy.

One glaring issue with the ANZ policy is their rental car policy -

"As part of the hiring arrangement you must take up all comprehensive motor insurance or waivers offered by the rental organisation, whether discretionary or mandatory, against loss or damage to the rental vehicle during the rental period."

Every car rental car company I've rented a car from offers full insurance bring the excess down to $0. As their terms and conditions say you have to take this if it's available they won't ever have any car claims as you'll have nothing to claim on!

Batman

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Reply # 1435124 26-Nov-2015 12:40

Every policy is different.

Read the fine prints.

Good on you.

timmmay

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Reply # 1435131 26-Nov-2015 12:50

I've claimed on ASB Platinum travel insurance as a result of a storm. We were coming back from overseas and Wellington Airport was closed so we had to overnight in an Auckland hotel, and rebook flights. Flights were rebooked free, and travel insurance paid for the night in the hotel, less excess.

As an aside, this was the huge storm a few years back that blew fish out of the water. I realised it was coming and moved our flight forward 12 hours to get us out of Wellington before it hit - to much complaining from my wife. If we'd left flights where they were we'd have been delayed by 3-4 days. Much grudging credit given :)

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Wheelbarrow01

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Reply # 1435208 26-Nov-2015 13:42

sbiddle:

One glaring issue with the ANZ policy is their rental car policy -

"As part of the hiring arrangement you must take up all comprehensive motor insurance or waivers offered by the rental organisation, whether discretionary or mandatory, against loss or damage to the rental vehicle during the rental period."

Every car rental car company I've rented a car from offers full insurance bring the excess down to $0. As their terms and conditions say you have to take this if it's available they won't ever have any car claims as you'll have nothing to claim on!

Yes I noted this waiver policy with my ANZ card before I went to Aussie a few weeks ago - I thought it was a complete con as it guarantees they will never have to pay out.

I reserved my car with Hertz and as I am a Gold customer I was not charged anything prior to picking the car up. This means that I was also unable to take advantage of the more generous Kiwibank travel insurance either, as they require the car rental to be paid in full before you leave NZ.

It seems they've got you either way. In the end I had to buy a 1Cover policy just to be sure I had full rental car coverage. I rented a car in Australia without travel insurance once - never again!

The views expressed by me are not necessarily those of my employer Spark NZ Ltd

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Reply # 1435210 26-Nov-2015 13:51

It appears you can never reduce your excess to zero with major rental companies. So in NZ I always go with Apex as it allows you to drop to zero.

Does 1Cover require you to take max excess reduction or will it cover you even if you decline any excess reduction.

Dulouz

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Reply # 1435211 26-Nov-2015 13:56

timmmay: I've claimed on ASB Platinum travel insurance as a result of a storm. We were coming back from overseas and Wellington Airport was closed so we had to overnight in an Auckland hotel, and rebook flights. Flights were rebooked free, and travel insurance paid for the night in the hotel, less excess.

As an aside, this was the huge storm a few years back that blew fish out of the water. I realised it was coming and moved our flight forward 12 hours to get us out of Wellington before it hit - to much complaining from my wife. If we'd left flights where they were we'd have been delayed by 3-4 days. Much grudging credit given :)

Westpac (Platinum) will cover travel delay expenses due to weather but it seems nothing else. It is a bit alarming that if you suffer damages due to a storm, tsunami or earthquake you are not covered. It seems it is a policy reserved for places where they don't have weather or earthquakes.

3.2. If your carrier is delayed, rescheduled or is cancelled as a result of natural disasters, weather conditions, or riots, strikes or civil commotion (but not terrorist acts), we will pay unexpected travel and accommodation expenses...

Amanon

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Reply # 1435226 26-Nov-2015 14:15

joker97: It appears you can never reduce your excess to zero with major rental companies. So in NZ I always go with Apex as it allows you to drop to zero.

Does 1Cover require you to take max excess reduction or will it cover you even if you decline any excess reduction.

Most all have the option, but it will depend on the market.

In the US for example your choices are typically nothing or everything - because there is no need for any form of insurance for most Americans if you already have car insurance as this covers you.

sbiddle

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Reply # 1435228 26-Nov-2015 14:16

timmmay: I've claimed on ASB Platinum travel insurance as a result of a storm. We were coming back from overseas and Wellington Airport was closed so we had to overnight in an Auckland hotel, and rebook flights. Flights were rebooked free, and travel insurance paid for the night in the hotel, less excess.

If you'd been flying on somebody like Air NZ and on the same PNR (booking) they would have provided you this for free.

timmmay

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Reply # 1435230 26-Nov-2015 14:18

sbiddle:
timmmay: I've claimed on ASB Platinum travel insurance as a result of a storm. We were coming back from overseas and Wellington Airport was closed so we had to overnight in an Auckland hotel, and rebook flights. Flights were rebooked free, and travel insurance paid for the night in the hotel, less excess.

If you'd been flying on somebody like Air NZ and on the same PNR (booking) they would have provided you this for free.

We were on Air NZ, and on the same booking.

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Kyanar

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Reply # 1436186 27-Nov-2015 17:23

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sbiddle:
If you'd been flying on somebody like Air NZ and on the same PNR (booking) they would have provided you this for free.

Actually, that's only for events that are within the airline's control (e.g. delay due to maintenance issues, etc). For events outside the airline's control, StarAlliance IRROPS handling guidelines is that Premium (*G and Business) customers are cared for by the airline, and the plebians can use their own insurance or pay for it themselves.

shk292

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Reply # 1436295 27-Nov-2015 20:30

sbiddle: The Westpac policy is backed by AIG who also do the ANZ policy.

One glaring issue with the ANZ policy is their rental car policy -

"As part of the hiring arrangement you must take up all comprehensive motor insurance or waivers offered by the rental organisation, whether discretionary or mandatory, against loss or damage to the rental vehicle during the rental period."

Every car rental car company I've rented a car from offers full insurance bring the excess down to $0. As their terms and conditions say you have to take this if it's available they won't ever have any car claims as you'll have nothing to claim on!

Are you sure about that? I use this insurance (on my platinum card) quite often, and the policy info online says:
Benefit 14 – Rental vehicle collision damage and theft excess cover 14.1. We will reimburse you for any insurance excess or deductible, which you become legally liable to pay in respect of loss or damage to a rental vehicle during the rental period, to a maximum of $3,000 per family, if: (a) the rental vehicle was rented from a licensed rental agency (or where they are not required to be licensed, a genuine commercial rental vehicle agency); and (b) you complied with all requirements of the rental organisation under the hiring agreement and of the insurer under the rental vehicle insurance. Exclusions applicable to benefit 14 In addition to the General Policy Exclusions, we will not pay: 14.1. for loss or damage arising from operation of the rental vehicle in violation of the terms of the rental agreement; 14.2. for loss or damage which occurs beyond the limits of any public roadway; or 14.3. for wear and tear, gradual deterioration, damage from insects or vermin, or inherent vice or damage

shk292

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Reply # 1436296 27-Nov-2015 20:32

Sorry sbiddle - should have read your post more carefully because I now see you are referring only to the ANZ policy

My quote is for the Westpac one. Glad I'm with Westpac now

sbiddle

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Reply # 1436302 27-Nov-2015 20:48

shk292: Sorry sbiddle - should have read your post more carefully because I now see you are referring only to the ANZ policy

My quote is for the Westpac one. Glad I'm with Westpac now

Yeah the Westpac AIG policy is virtually identical in every respect except for a few minor (well they're major things) differences, this being one.

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