Travel Insurance for Australians
About Travel Insurance for Australians
Any person from Australia thinking about traveling overseas should definitely acquire travel insurance prior to leaving. Travel insurance will protect the policyholder for certain insurable events which may occur before or during travel, depending on the type of policy procured. Insurance can cover such things as baggage damage or theft, medical expenses, trip cancellation or interruption, and more.
The cost of travel insurance is dependent upon the type of policy requested, the policyholder’s age, the travel destination, length of stay, and pre-existing medical conditions. It is essential to choose the type of insurance to fit your needs.
Key points to be aware of when choosing travel insurance:
- Read disclosure statements and make sure you know exactly what the chosen policy covers. Travel insurance policies are not unlimited and may or may not cover cancellations for changes in travel plans.
- Make sure medical cover is adequate for possible medical expenses in the specific country you will be visiting.
- Declare all pre-existing medical conditions.
- Clarify any policy issues with the insurer; cover may be limited on personal belongings and luggage and there may be a per-item-limit on expensive items such laptops, cameras, and jewellery.
As with most insurance policies, travel insurance policies include standard general exclusions. Exclusions can include loss or theft of unattended luggage or cash, pre-existing medical conditions, self-inflicted injury, and acts of civil unrest. Travel insurance policies may also be nullified if injuries are sustained as a result of being under the influence of drugs or alcohol.
Dangerous or extreme activities such as snowboarding or surfing may be classified as general exclusions; along with other dangerous activities like rock climbing, hunting, bungee jumping, kite surfing, and scuba diving.
Why Travel Insurance for Australians is Necessary
The Australian Government generally advises: “If you can’t afford travel insurance, you can’t afford to travel.” Whether you travel overseas regularly, occasionally, or are getting ready to embark on a once-in-a-lifetime trip, it is very important to acquire travel insurance. Although traveling can be a positive experience tragedies do happen.
The Australia Government deals with over 25,000 cases each year involving death, injury, and hospitilisation of Australians overseas. When victims of these tragic accidents are not covered by travel insurance, the personal tragedy is often further compounded by long-term financial burden. Medical evacuations, return of a deceased’s remains, and hospitilisations can quickly become very costly. A medical evacuation from the United States can cost as much as $300,000. Hospitilisation costs in other countries can exceed $800 per day; the cost of returning remains from Europe is more than $10,000. Uninsured travelers are solely responsible for all medical and associated costs incurred.
Accidents and illnesses while travelling are often unavoidable making travel insurance an essential item to purchase. The theft or loss of personal belongings is also something worth insuring against for Australian travellers.
A quick review of why travel insurance is important:
- Travel delays or changes
- Health issues, injuries, or death
- Extreme weather conditions/natural disasters
- Luggage or document issues
- Terrorism/travelling to area of civil unrest
If you are unable to obtain travel insurance, the risks and potential costs which can be sustained should be carefully considered before going ahead with travel plans.