American Express Travel Insurance Product Disclosure Statement (PDS), Australia. Published 07/2022
• how many people are to be covered under the Policy;
• the age of the Covered Persons;
• the duration and destination(s) of Your Trip;
• the period between purchasing the Policy (the Issue Date) and the date of departure (Start Date);
• The Excess that will apply to Your Policy;
• Any optional add-on covers You purchase.
Your total premium includes government charges, taxes or levies (such as stamp duty and GST).
Important Things to Know About This Policy
Excess
Where applicable, an Excess is applied for each Covered Person, for each Event.
If a claim is covered, the Excess is first deducted from the amount We will pay and before any relevant
depreciation and limits have been applied to the claim amount.
You may be provided with the option to reduce or increase Your Policy Excess. If You reduce Your Policy
Excess Your premium will increase and if You increase Your Policy Excess Your premium will reduce. Please
note that a claim will not be payable where you choose an excess which is higher than the applicable limit(s).
The Excess amount is specified on Your Certificate of Insurance.
An Excess may also be a waiting period, which is the amount of time You have to wait until the benefit may
become payable.
The below examples are provided for illustrative purposes only. Each claim will be assessed individually,
based on the facts relative to the specific claim
Anna books accommodation to the
Sunshiny caravan park. Her Trip
with the family is in summer, which
is 3 months away. A week before
the start of the family Trip, her son
has an accident at school and
breaks his leg. Unfortunately, he
needs surgery and the Doctor
confirms its best to be at home for
the recovery. Anna paid $1,200 for
the accommodation. The Excess is
$250.
a) Deduct the Excess of $250
b) Check the total cover limits and
sub-limits in Schedule of
Benefits. The amount claimable
is below these limits
Calculation for the amount
payable:
Jane travels to Brazil and while in
Brazil her laptop is stolen. She
reports the theft to the police and
provides Us with the required
documentation. Jane paid $6,000
for her laptop 12 months prior to
this Event. Jane’s Excess is $250.
a) Deduct the Excess of $250
b) Establish original purchase
price of the laptop: $6,000
c) Apply depreciation*:
• 2.5% per month for 12
months = 30% depreciation.
•
30% of $6,000 = $1,800 total
depreciation.
d) Establish current value of the
laptop by subtracting
depreciation from the purchase
price of the laptop
• $6,000 - $1,800 = $4,200
Rob and his wife travelled to
France for 14 days. On the 4
th
day
of their trip, Rob slips down the
stairs at the hotel. Thankfully it’s
not a major injury, but he did twist
his ankle and needs to seek
medical attention. He was billed
$500 for the doctor’s appointment
including some scans and
medication. On the 8
th
day, Rob
had his laptop stolen which is
worth $1,000. Unfortunately, on the
last day of their trip, Rob’s wife
then lost her smartphone. When
they return to Australia, Rob
submitted a claim for the 3 Events.
As Rob and his wife had 3 Events
during their trip to France, an
excess would be applied to each of
the Events (and covered persons).