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If you’re thinking about travelling to South Korea, our Executive General Manager of General Insurance, Adrian Taylor, has some tips to help you search for travel insurance.
The best time to compare and purchase comprehensive travel insurance is right after you’ve made your booking. After booking your trip and making a deposit, as soon as you purchase comprehensive travel insurance, you’ll have cancellation cover. This could provide you protection if you need to cancel your trip due to unforeseen circumstances. Don’t leave purchasing your policy until after the event that leads you to cancel your trip, as you will not be covered.
If you have pre-existing medical conditions, you should declare them to your travel insurer as part of your application. This can help you ensure you’re covered for things like cancellations and hospital and medical expenses related to your pre-existing medical condition. If you don’t declare a pre-existing medical condition, you may not be covered for associated medical expenses.
If you are planning to take three or more trips during a 12 month period, you may be better off purchasing an annual multi-trip policy rather than individual single-trip policies for each holiday. An annual policy could cover all your trips, potentially saving you money.
Travel insurance is a personal choice, but when you choose the right travel insurance policy, you’ll have peace of mind knowing you have cover for unexpected situations that can happen during an international trip. Things your travel insurance can help with include:
Though North Korea and South Korea are technically at war, the Australian Government’s Smartraveller site has only issued a level 1 travel advice for South Korea.1 This is the lowest advice level for travellers from Australia.2
Though there is a truce between the two countries, North Korea is known to take provocative actions, such as performing missile launches and conducting nuclear tests. Tensions can rise quickly, so it’s best to monitor local developments.
There’s plenty to do during your trip to South Korea, from shopping in the famous Myeongdong district to visiting beautiful Jeju Island. However you choose to spend your time, there are some issues worth considering for your policy. Similar to all other destinations, these inclusions will help provide peace of mind for your next trip.
Dealing with theft and lost belongings
South Korea is a safe place with a relatively low crime rate, but petty crimes do happen.1 Like many countries, this is especially true in major cities such as Seoul, Incheon and Busan. Depending on your policy, you may be able to claim back all or some of the value of your luggage, valuables and personal items should something happen to them. Potentially, you may also be covered for stolen travel documents, Australian passports and more.
Medical treatment
South Korean medical facilities usually offer quality healthcare, but keep in mind staff may not speak English, and you’ll usually have to pay upfront.1 Because Australia doesn’t have a Reciprocal Health Care Agreement (RHCA) with South Korea if you need medical assistance while in South Korea, you’ll end up paying the full cost unless you have travel insurance with medical cover Depending on your insurance company and policy, you may be covered for:
Rental vehicle excess
Before driving in South Korea, you’ll need either a valid South Korean driver’s license or an International Driver’s Permit (IDP).1 After 90 days, you must obtain a South Korean driver’s license to continue driving.
Unfortunately, South Korea has a high rate of traffic accidents and deaths.1 If you have an accident and need to pay the excess to the rental company, your comprehensive travel insurance policy may cover the excess or offer it as an add-on option. Areas like Seoul offer excellent public transport options if you prefer not to drive.
Trip cancellations, disruptions and travel delays
Flights can be delayed, interrupted or even cancelled Travel insurance can provide cover and peace of mind should you experience a flight delay or a trip interruption, or your trip is unexpectedly cancelled. Travel insurance that includes cover for cancellation can cover pre-paid and non-refundable expenses relating to accommodation, activities and tours, transport and more.
Personal Liability
Your travel insurance for any destination can potentially cover you for legal fees, should you damage property or cause the injury or death of another person while you’re overseas.
Natural disasters
In South Korea, natural disasters include earthquakes, typhoons, flooding, and tsunamis.1 The rainy season usually occurs between late June and late August. Travel insurance may cover expenses such as cancellation fees if a natural disaster occurs during your trip.
Wherever you travel, including South Korea, it’s important to know that travel insurance won’t cover you for everything. While each policy may have specific exclusions, it’s crucial to understand precisely what you’re covered for. Here are some of the most common travel insurance exclusions.
For Australian residents, the Australian Government’s Smartraveller website is a reliable, regularly updated source of information for countries worldwide.
Wherever you’re travelling, it’s wise to keep updated with travel advice, as some incidents or levels of travel warning can affect what insurers will cover.
As the Executive General Manager of General Insurance, Adrian Taylor believes in educating customers about the importance of travel insurance so that anyone can kick back and make the most of their time away from home. While no one wants a disrupted holiday, a suitable travel insurance policy can provide a financial safety net for yourself, your belongings and your trip in case things go wrong.
1 Smart Traveller – South Korea (Republic of Korea). Last updated July 2024. Accessed October 2024
2 Smart Traveller – Travel advice explained. Last updated May 2024. Accessed October 2024.