A good news story on travel Insurance
I have two posts about travel insurance today. This one is a fun one that highlights the importance of reading the policy that I read from the Stuff site.
Ms Donelan Andrews, a high school teacher living in Georgia, US. She purchased a travel policy through a travel insurer I have never heard of, called Tin Leg a subsidiary of Squaremouth.
Unlike the vast majority of the population, Ms Andrews sat down and read the policy. As she read the wording she found this statement.
Pays to Read,
We estimate that less than 1 per cent of travellers that purchase a travel insurance policy actually read all of their policy information – and we’re working to change that.”Tin Leg policy wording.
It said the first person to email the company and mention the fine-print contest would win US$10,000 . Andrews immediately emailed and was the winner.
I say this as in my experience most people do not even read the policy after a claim occurs. The article states “The company had quietly started the contest a day earlier, and in that time had sent out 73 policies to different customers who had purchased them, the company said. Andrews was the first one to email.”
While I thought this a great initiative and was thinking we should suggest this to one of our drafting team clients but then I realised that the LMI PolicyComparison.com Australian, New Zealand. and United Kingdom research teams would win the prize every time.
The teams reads and update over 1,500 new or changed policies a year for yes, this includes Corporate / Business Travel.
Leisure travel is soon to be the latest comparison class when it is launched very shortly. I of course will publish the date of the release on this post.
Congratulations, Ms Andrews, safe travels.