5 Steps to Buy Travel Insurance

Purchasing Travel insurance doesn't need to be difficult! Follow these simple 5 steps to cover you while you travel.

5 Steps to Buy Travel Insurance

Purchasing travel insurance can be simple and easy with Fast Cover

Finally, the time of year rolls around where you get to go on vacation! After carefully picking out your destination, finding just the right places to stay, and checking all vaccinations, you take the plunge and book the flight ticket. Immediately, a question pops up on the screen: ‘Would you like to purchase travel insurance?’ While ticking a box during your ticket purchase may seem nice and convenient, buying your insurance this way may not be in your best interest. Following are a few tips on how to buy travel insurance to make sure you not only get the cover you need, but also don’t end up paying too much for it.

Before you buy…

Generally speaking, one in five Australian travellers need some sort of assistance on their trip. Whether it’s lost luggage, a cancelled hotel, or a medical emergency, with the right insurance policy you are covered. Pick the wrong insurance plan though, and you end up with out of pocket expenses and a bitter taste in your mouth.

Before purchasing any travel insurance, check out your existing insurance packages. Sometimes you are already covered for certain eventualities by your private medical insurance, and often credit card companies also offer a certain insurance cover when using them for buying flights or booking hotels. Knowing what you are already covered for means that you can either opt for additional cover through a travel insurance or simply cherry pick a policy that suits your requirements.

Step 1 – Consider what level of cover you need for your trip

Most insurance companies offer policies with various tiers of coverage for both domestic and international travel. These can range from emergency medical-only policies, to comprehensive policies which may include cover for lost or stolen luggage, missed connections or cancellation costs.

Also consider if you need any extra cover for:

Step 2 – Compare Travel Insurance Providers & Policies

Compare policies and prices, but remember the old adage: you get what you pay for! While it may be tempting to simply scrounge for the cheapest policy you can find, make sure you check for loopholes and exclusions hidden in the fine print that might come back to bite you later.

Check for features such as:

Step 3 – Read the Product Disclosure Statement (PDS)

It’s important to understand exactly what you are and aren’t covered for, so read the PDS carefully. Insurers will have their PDS available on their website or you can request a copy to be emailed or posted to you.

The PDS should include:

  • Words with special meanings
  • Eligibility criteria to purchase a policy
  • What you ARE and AREN’T covered for
  • A table of benefits (the limits and sub-limits of your cover)
  • General exclusions
  • Information on how to make a claim

Step 4 – Get a travel insurance quote

Now you’ve researched and compared policies, it’s time to get a quote for your travel insurance.

To get an accurate quote you’ll need to know:

  • Your travel departure and return dates
  • The regions you’re travelling to
  • The names of all travellers
  • The birth dates of all travellers

Step 5 – Purchase a travel insurance policy

The last step is to purchase your policy. At Fast Cover we’ve made it as fast and simple as possible. You can find and purchase your desired level of cover within a few clicks online or give us a call and we’ll be happy to arrange it for you.

To purchase a travel insurance policy:

 

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