what effect greek travel

Discussion in 'Coffee Lounge' started by fernfurn, 22nd Jun, 2015.

  1. fernfurn

    fernfurn Member

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    Am just about to book a trip with a greek travel agent (this is attached to a workshop I am doing in Greece so it is not available to be booked from here). Does anyone have any idea how this whole greek/eco union thing would affect this? If they revert to the dracma, would businesses fold (i.e the travel agent) , would I end up paying more??
     
  2. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Get travel insurance to cover the eventuality.
     
  3. fernfurn

    fernfurn Member

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    yes, obviously, but I was just wondering if anyone had any thoughts as to how it would affect people on the ground, shops, travelling around, etc. In other words, will if throw the country into chaos?
     
  4. BV

    BV Think outside the square

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    I've been following this subject in detail because I will be traveling there in August.

    It is unlikely that they'll let the country switch to another currency overnight.
    If they were to switch currencies, there will be capital controls and those have not been introduced yet, so I wouldn't worry about it. In addition to this, there was significant progress last night so a deal is close.

    If there were to switch to another currency it would take months to change and that currency would depreciate drastically overnight but you as a tourist will be holding EURO's and $ and the local prices when converted to your hard currency should not change much.

    Its the locals who will suffer because their wages will be paid in the new cheaper currency.

    cheers
     
  5. jerrybee

    jerrybee Member

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    If there was a bank run maybe things would get crazy but this has been unfolding for so long now that all the obvious problems would have been thought of already. It's hard to predict but I would just buy insurance in the event that you need to cancel, otherwise relax and have a good holiday.
     
  6. BV

    BV Think outside the square

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    I usually pay with my Visa Credit card which offers free insurance.
    Otherwise I found webjet cover is good.
    Or people can buy insurance from HCF, Bupa etc but they are more expensive.

    Here is an idea to save a few $.
    My brother who travels with his wife overseas for months, he pauses his HCF Hospical and extras cover and takes on travel insurance instead and he resumes his local HCF cover when he returns.
     
  7. cimbom

    cimbom Member

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    Just make sure you have cash on you and don't rely too heavily on bank cards. We were there in February and there were several ATMs near our hotel that had been blown up
     
  8. jerrybee

    jerrybee Member

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    Be careful of CC insurance. They usually have caveats such as all your accomm needs to be booked on the card too.
     
  9. BV

    BV Think outside the square

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    I don't recall seeing this, perhaps different cards have different rules?
    I will download the booklet and check it out.
    Thanks
     
  10. datto

    datto Member

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    Last time i went to Greece I stayed at the Malacca Resort but was not overly impressed with the place.
     
  11. jerrybee

    jerrybee Member

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    IMO for investors, traveling overseas without the right insurance is one of the riskiest things they can do. If you get hurt - which is entirely possible in a foreign land (particularly in poorer countries with high crime) - and need specialist care, you could be up for hundreds of thousands of dollars. Mum's friend had a stroke in Singapore and her kids had to start selling assets to cover for the 250k hospital bill. An important part of investing is mitigating risk and this to me is one of the biggest. So I don't trust these "free" policies, I bet they will try every angle to get out of a claim. Proper insurance is so cheap anyway why take the risk. I always spend the $150 or so to make sure I'm properly covered.
     
  12. wylie

    wylie Member

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    Good advice. This worried me too when we travelled. I also chose to ignore the "free" credit card cover and paid for cover. I was concerned the free cover may have left me flapping in the breeze if we needed to claim.
     
  13. BV

    BV Think outside the square

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    The main difference I can see between the 2 covers is the higher excess.
    The claim value varies as it does with many such policies.
    Allianz is the underwriter of the visa one so it isn't a back yard operation but
    sure people should read the fine print and purchase a separate cover if they think they'll need it.
     
  14. Schpeet

    Schpeet Member

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    agree with everyone above to take care on a credit card insurance. I had to claim once, and it took several letters to them before they agreed to partially pay my claim (luckily before I cancelled anything I spoke to one of their operators who advised me I should get a pay-out and so proceeded to cancel based on their advice....I'm pretty sure that conversation was the reason they ended up paying the claim, no idea if the employee got in trouble for it though!!!).

    Whichever case you go with, be very careful to read the inclusions/exclusions some policies may exclude for things like countries going bankrupt!!!