Over a quarter of Aussie travellers leave buying their travel insurance to the last possible minute - sometimes even waiting until the day they leave. Clearly, getting travel insurance is low on the priority list of many travellers. However, it shouldn’t be this way.
Travel insurance is one of the most important components of your trip, right up there with the plane tickets and finding a magical solution to an overstuffed suitcase.
If you end up finding yourself in trouble overseas, whether you end up in a hospital or just dealing with a stolen wallet, the Australian Government can’t help you - you need to be insured!
But with all the options available, how do you know which travel insurance policy is right for you?
Comprehensive travel insurance will cover the widest range of circumstances in one convenient policy. This is best if you’re booking an expensive or complicated trip, and they’ll often cover cancellations and delays in addition to medical and financial insurance.
Trip cancellation and interruption insurance will help you out if you need to cancel or delay your trip because of unforeseen circumstances. This is especially important if you’ve booked and paid for your trip well in advance of departure.
Medical insurance is perhaps the most important part of any policy. With hospital stays costing hundreds of dollars a day, and medical evacuations tens of thousands, it’s vital that you’re fully covered should any of these unfortunate events happen to you.
Some policies will cover theft or damage to your belongings, should you end up without your wallet or losing your luggage. Some policies will even repay the value of lost items to you, so this is important if you’re travelling with expensive gear like a brand new laptop or professional camera.
Most travel insurance companies in Australia offer insurance based on the region of the world you’re travelling to, and/or whether you’re signing up just for this trip (single trip policy) or for a longer multi-trip policy, which will cover multiple adventures within a certain timeframe (for example, one year).
As always, make sure to read the policies and product disclosure statements of any travel insurance cover you may take out to ensure that the insurance you purchase is best for you.