So I was perusing my PDS for insureandgo travel insurance and in the exclusions I noted:
24.Any claim relating to an item you have claimed TRS (Tourist Refund Scheme).
How can they justify this? Has any one had claims denied under this exclusion?
I noticed Huddle have a similar exclusion.
It's a personal item in your possession while overseas, I fail to see how that's not something travel insurance should cover.
It seems they do not view it as a personal possessions since you cannot (should not) bring it back.
Isn't it you just need to pay the GST back if it is over the personal travel allowance? It doesn't say you shouldn't or can't bring it back
It doesn't say you shouldn't or can't bring it back
You can bring it back, then you need to declare again, and you may have to pay tax on the items, depending on what else you carry.
But I'm not sure how the insurance company get to figure out if GST has been paid or not by looking at the invoice if you need to claim it.
@boomramada: Yeah I've got no idea how they'd actually know. Was planning on pooling allowance with my partner for her iPhone 14 pro, but it's not worth it if it voids out travel insurance for it…
@iMagoo: It's a stupid exclusion, in a real-life scenario, imagine if you bought a laptop for someone, and claim on GST but got stolen during transit?
Insurance fraud is rampant.
It would be so easy to buy item, claim TRS, deliver to relative overseas, claim it as stolen.
Simple clause to prevent insurnace fraud.
You may be trustworthy, but plenty of others aren't.
How would they find out? Someone who is doing something dishonest like that isn't going to tell the insurance company they claimed it on TRS. I don't believe the insurance company would be legally allowed to request TRS claim information?
Technically any item you claim TRS on means you're taking it out of the country (generally as a gift) and not returning it back (in which case you would declare this to repay GST).
There's no reason for travel insurance to cover these items from their perspective.