US comparison site Squaremouth recently ran a ‘secret’ competition to award US$10,000 (AU$14,000) to the first person to read their travel insurance policy document from start to finish.
The Pays to Readcontest saw Squaremouth add text to insurer Tin Leg’s policy documentation offering a reward to anyone still reading.
Replying just 23 hours after the contest was launched, the first customer to get back to Squaremouth was teacher Donelan Andrews from Georgia.
“We created the top-secret Pays to Read campaign in an effort to highlight the importance of reading policy documentation from start to finish,” Squaremouth says on its website.
Squaremouth also donated $14000 to a Washington DC-based children’s literacy charity as well as $7,000 to the two schools Ms Donelan teaches at.
“Over the past 16 years, we’ve learned that many travelers buy travel insurance and just assume they’re covered if anything goes wrong, without actually reading the details of their policy,” it added.
“However, this often leads to claims for losses that are not covered. This lack of understanding is one of the biggest reasons travel insurance claims are denied.”
Squaremouth CEO Chris Harvey said, “We want all of our customers to buy the cheapest product that provides the coverage they need without paying for extra benefits”.
Do you read your insurance fine print?
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