Do I really need Travel Insurance?
In the words of Julie Bishop MP; “If you can’t afford travel insurance, you can’t afford to travel.” So, whilst it isn’t compulsory by law for all countries, the simple answer to whether you need Travel Insurance is: YES!
Many believe that taking a holiday is full of fun and excitement. Most of us wouldn't be planning for a disaster or medical emergency but the truth is, anything can happen on your holiday. At Fast Cover we provide cover for the unexpected. Taking out a Comprehensive travel insurance policy with us takes a matter of minutes! Our policies cover an Unlimited* amount for overseas medical emergencies that can occur unexpectedly. Get a quote now in seconds!
What does ‘travel insurance’ mean?
Like most insurance companies, Fast Cover policies provide cover for the unexpected and unforeseen. And, like most insurance companies, we give back a lot to our travellers in paid claims. Travel insurance is a security blanket for you and your loved ones. This legally binding agreement will assist you with any medical or financial issues that may arise while you are travelling. Most people think travel insurance is just about protection from medical emergencies but there are many other benefits in a comprehensive policy such as:
- Cancellation expenses
- Personal liability
- If your trip is disrupted
- If your trip is interrupted and/or paused for reasons out of your control
- Luggage and Personal Effects cover; including delay of your luggage
- Passport theft or credit card fraud; including theft of cash
- Special event transport expenses
What happens if I don’t purchase travel insurance?
Not buying travel insurance is like going to a snow field without any snow equipment. Sure, you will be able to enjoy the wonderful white snowflakes but you wouldn’t be able to fully enjoy the experience because you are ill-equipped. Travel insurance, if keeping with this analogy, is like the equipment needed to benefit from snow related activities. If you don't have a jacket, goggles, helmet, snowboard or skis you will just be running around a field with no protection. It is highly recommended that you buy travel insurance for your next trip to cover you from potential unexpected costs! If you don’t, then you would not be covered for any medical expenses that may occur due to a sickness or injury.
Who needs to double check travel insurance covers them?
- Anyone with a Pre-existing medical condition – If you have a pre-existing medical condition it might be worth taking out cover specifically for your condition – ask the consultants if they are able to cover you. We cover 43 pre-existing medical conditions
- If you are Senior – The older we get the more susceptible we become to external influences. A 75-year-old is more likely to become ill from being out in severe weather than a 47-year-old. Of course, there are exceptions to this and it depends on your medical history but there is no denying that the older we get, the more likely it is for us to fall sick and the symptoms more severe.
- If you are travelling with children – Children are joys of the world and yet easily hurt because of their fragile bodies. If you are travelling with children, taking out travel insurance can give you the peace of mind knowing they will be covered for anything, from a doctors visit to treat a local flu to something more life threatening.
What if I purchase Travel insurance and something happens?
Once you buy a policy that suits your trip, you will be issued with a ‘Certificate of Insurance’. This will have emergency domestic and international contact numbers should something arise while you travel.
We always suggest in the event of an emergency the best course of action would be to contact our 24/7 Emergency medical assistance number. The cost for this call can be reimbursed if the claim is approved. Our prompt and professional team will provide practical steps for your specific situation and assist as required.
- Seek medical assistance immediately
- Call the local police or relevant authority if required
- Contact DFAT on their 24-hour consular number
- Contact a family member who is able to speak on your behalf
Though travelling to well-known countries may seem like a risk-free activity, life can change at the flick of a switch. Equipping yourself with cover that is applicable will save you not only time and money but give you peace of mind.
Why would I pay for something I probably won’t use?
It is no surprise travellers have a fear of having to pay for more than needed to for their specific situation. Majority of us would avoid this at all costs! Whether it is health, life, pet or home, Australians are paying more on insurance each year. This is because travellers are contributing to high crazy costs that someone else may need when something goes wrong. When travelling it is important to remember something could easily happen to you when travelling regardless of your walk of life, experience, age or socio-economic background.
Naturally no one wants to pay for benefits they will not be using; and not all benefits added to our policies are needed as each trip is as unique as the next. Insurance companies are well known for paying out large amounts of money for the claims – someone breaks their arm on a ski slope in Canada or slips in a supermarket in Bali, gets washed out by a current while surfing in Hawaii or even tripping over a step on a cruise ship over the Pacific. Whatever the case, insurance companies pay big dollars to compensate consumers.
Luckily at Fast Cover we don’t add on crazy premiums for our travellers; but of course, there are some general exclusions and higher risk situations that we do take into account. If you are a senior it is hard to avoid added premiums to your policy. You may also be subject to higher levels of excess in the event that you have to make a claim for overseas medical expenses.
You don’t know what you got til it’s gone…
As the saying goes, ‘don’t it always seem to go, that you don’t know what you got til it’s gone…’ and this could not be truer for insurance. We talk about the importance of being safe to our children and loved ones but sometimes are not prepared for the unforeseeable happening. In essence, that is what travel insurance is for; taking the burden of preparing you for the worst but offering specific cover.
Travel insurance shouldn’t be viewed as compulsory. Think of it more as an investment that could save your life and your wallet.