Travel insurance: luxury or necessity? As Easter holidays approach, many well-heeled South Africans are preparing for trips abroad—but few are aware of just how exposed they may be.

Speaking on HOT Business with Jeremy Maggs and Moneyweb, Ryno de Kock, Head of Distribution at PSG Insure, warned that the complimentary travel insurance linked to credit cards is often grossly misunderstood and largely inadequate. “It’s bare-bones cover,” he said. “A simple doctor’s visit in the UK could cost you up to £200, while a medical emergency in the U.S. could leave you financially devastated.” 

The crux? Free credit card insurance might offer basic medical cover—but it typically excludes cancellation, postponement, baggage loss, emergency accommodation, and more. And if you’re travelling with pre-existing conditions or for a high-risk activity like sport, you may be completely uncovered. 

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The Cost of Skipping Travel Insurance 

For international trips, de Kock says travel insurance is “an absolute no-brainer,” particularly when medical costs in countries like Australia, Singapore, and the U.S. are factored in. And even locally, cover for trip cancellations or accommodation issues can make a big difference. 

While some may argue comprehensive cover feels costly in the current economic climate, de Kock believes the risk far outweighs the expense—especially for affluent travellers who have more to lose. 

In Conclusion 

His advice? Always speak to a qualified short-term insurance advisor before departure. Don’t rely on default products. And make sure your age, destination, medical history, and trip purpose are all factored into the policy. 

In uncertain times, real peace of mind isn’t complimentary—it’s custom-built. For insightful updates and must haves like travel insurance, tune in to Hot Business today.