Largest travel insurance claims of 2016 revealed

The largest claim was more than double the average home deposit in Sydney

Largest travel insurance claims of 2016 revealed

Insurance News

By Mina Martin

Comparison website finder.com.au has revealed the most expensive claims for 2016, the largest of which was worth more than double the average home deposit in Sydney.

Claiming the top spot was a $256,000 claim which resulted from multiple injuries sustained by a Sydney-based policyholder from a skiing accident in Canada. The figure included repatriation costs back to Australia, according to the latest data from InsureandGo Travel Insurance.

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Victor Quiroz, head of implementations and operations at InsureandGo, said medical costs can add up quickly and often catch people unaware.

“It’s very easy for this to happen, as medical emergencies can involve costly procedures, specialists’ appointments or even flying a family member overseas to assist with the journey home,” he said.

The second largest claim, worth over $200,000, was for a traveller who required medical repatriation from the United States.

Coming in third place, meanwhile, was a $114,000 claim by a traveller to one of Australia’s favourite destinations, Bali.

“It’s not surprising that one of the biggest claims has come from the United States, which consistently ranks as one of the most expensive countries for medical assistance,” said Quiroz.

An analysis of repatriation costs from Allianz Global Assistance in May this year revealed that, on average, the most expensive country to need repatriation from was Peru, followed by the US, Switzerland, and Canada.


Related stories:
Australian travellers lose almost $1 billion a year on money misadventures - Commonwealth Bank study
Study reveals alarming rise in overseas repatriation

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