Travel insurance is designed to protect you against unexpected events when you’re travelling domestically or internationally. It can help with costs associated with events like illnesses and injuries while you’re overseas, lost or stolen luggage and personal effects, cancellation fees and flight delays. Depending on the type of policy and its level of protection, you can be covered for a number of events that can bring your travel plans to a halt.
Travel insurance protects you against financial loss arising from unforeseen scenarios. Examples of these scenarios include (but aren’t limited to):
Depending on where you’re travelling to and how much cover you need, you can choose from either a basic, mid-range or more comprehensive level of cover.
We believe so, as travel cover provides peace of mind for a range of scenarios, including injury or illness, when you’re travelling both in Australia and abroad.
When travelling internationally, you aren’t always afforded the same health care services and cover as you are in Australia. Moreover, you can’t always access these services without suffering a major blow to your budget. This means if you were to fall ill or become injured overseas, you could be hit with major out-of-pocket costs.
On top of this, there’s a chance your belongings could be stolen or damaged during your travels as well. Could you afford to replace your laptop or camera equipment? How about the contents of a lost suitcase? Depending on your level of cover and your policy’s Product Disclosure Statement (PDS), your insurer can compensate you for the loss of, or damage to, your belongings while you’re travelling both domestically and internationally.
Furthermore, if your flight is delayed or cancelled and you don’t have travel insurance, you could be left to cover the costs of a new flight or alternative arrangements. Don’t forget that a cancelled flight can have major repercussions for your travel; perhaps you’ll miss your connecting flight or a pre-paid event, like a concert.
As travel insurers cover a number of specified events, why not enjoy peace of mind knowing you’re protected when you need it most?
The cost of your travel insurance depends on a range of factors, including:
On top of this, the cost of your policy will greatly depend on which insurer you go through. As each policy is unique to the traveller, it’s important you compare insurance from a range of providers to ensure you’re getting great value for your cover.
Excess refers to the amount you’ll pay if you ever claim on your policy. This amount is agreed upon when you first take out cover. When you make a claim, you’ll pay this amount, and your insurer will pay the rest of your costs (e.g. any medical bills, refunded airline tickets) up to your benefit limit.
Yes – injuries or illnesses are some of the most important reasons to get travel insurance. Depending on the type of policy you take out, your travel insurance can cover your medical expenses.
If you have any known pre-existing medical conditions, you may receive cover up to a limit – provided you disclose this to your insurer before you take out your policy. Some policies will only cover certain pre-existing conditions, while others may not provide cover at all. As such, it’s crucial you speak to your insurer and check the policy’s Product Disclosure Statement (PDS).
Also, keep in mind that you may be required to undergo a medical assessment before you take out cover.
Certain factors, like how far you are in your pregnancy or if your doctor advised you against travel, can affect your travel insurance. It’s important you talk to your insurer and check your policy’s Product Disclosure Statement (PDS) to be aware of any exclusions or limitations in cover.
Yes, your travel insurance may cover certain misplaced items, depending on your type of cover.
Insurers may not compensate lost belongings if you are negligent (i.e. you left your belongings unattended), you don’t report the theft to the authorities, or if certain valuables – like your computer or jewellery – are placed in your check-in luggage.
In order to claim, you must be able to prove the value and your ownership of the items. You’ll also be restricted to only claiming up to your policy’s benefit limit.
Looking for the best travel insurance in Australia to start your journey on the right foot? Get started by checking out our comprehensive list of providers in Australia.
We make it even easier to find a policy that suits your needs and budget, thanks to our free comparison service. While we don’t compare all providers that appear on this list, you can compare those highlighted in blue through our handy tool; it only takes minutes to find a competitive deal!
The above list was compiled February 2019 and sourced from the Insurance Council of Australia and from travel insurers directly. This list is not exhaustive and subject to change.