Brokers will know all about the pitfalls of not checking the fine print on an insurance policy, but it seems the message still hasn’t got through to customers – and on occasions that lack of clarity can have devastating consequences.
For an illustration, look no further than the case of Perth native Emlyn Thomas.
It was on Christmas Day that Thomas, riding without a helmet, fell off his scooter in Bali while separated from his friends. His case, which has made international headlines, left the IT consultant, 24, requiring life saving surgery after suffering two skull fractures. In the absence of suitable insurance cover, his friends have had to raise close to $40,000 to cover his hospital bill. His employer offered a $30,000 loan to cover the initial cost of the surgery.
Thomas was brought out from under sedation over the weekend and, according to a Nine News report, appears to be improving. However, there is still a long way to go and there are fears that he may need to learn to talk again.
Still, while his health is paramount, finances have also added an unfortunate stress for his friends and family. The total cost could potentially rise as high as $65,000 – and, because Thomas failed to wear a helmet, and doesn’t hold a motorbike license in Australia, his insurance will not cover the costs.
Speaking to the
Daily Mail Australia, Elliot Insurance Brokers’ Garth Krasinski highlighted the importance of reading the fine print, especially if you’re planning on undertaking adventurous activities during your holiday.
“If you’re doing anything that’s slightly high risk - whether it be going on a jet ski, riding a scooter, whitewater rafting, bungee jumping, take the time and effort to read the policy,” he told the publication.
Make sure your clients get that message too.
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