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Travel Insurance – November 27th
Live last minute – getting travel insurance in a hurry
Lastminute.com.au is one of the Australian answers for spontaneous travellers, crisis travellers, and those who always leave arranging travel plans to the last minute. They advertise that they offer the lowest price on over 400,000 …
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What is travel insurance?
Travel insurance is insurance cover for emergencies or accidents that might happen to you or your belongings while you are on a holiday away from home. Travel insurance will cover you for different things depending on whether you are taking a trip within Australia or overseas (see types of travel insurance).
Why do you need travel insurance?
A study by Expedia shows that a massive 83% of young Aussies aged 18-24 plan to take an international holiday in next 12 months. Travelling overseas has become more affordable, with Expedia?s data showing international air ticket prices have declined by 20% over the last three years, driven by increased competition among low-cost airlines. But could you afford it if something went wrong while you were in another country?
The Australian government?s Smart Traveller website recommends travel insurance for anyone taking a trip away from home, especially to overseas destinations. If you don?t have travel insurance and you lose your luggage or have an unexpected accident, medical emergency, or legal incident, you and your family will have to pay for all the costs on your own.
Things like changing flight plans can be expensive, but hospital bills are even worse. There?s no Medicare overseas, so a medical emergency can cost you thousands or even hundreds of thousands of dollars – and chances are you have not brought that much money with you on your trip.
If you have travel insurance, on the other hand, you can travel confidently knowing you can get financial help in an emergency.
What else should you do before you travel?
For overseas travellers, you should also check the Smart Traveller Travel Advice page to see what the risk of travelling to your chosen countries is. If a country is flagged as “do not travel” be aware that you may not be able to obtain insurance for the trip.
Next, you should register your travel plans with the Department of Foreign Affairs and Trade so that someone knows where you?ve gone and how to reach you in an emergency.
Also make sure you have a copy of all your documentation with you – and that you leave a copy of all your documentation with someone back home.
Also keep on hand the contact details of the Australian Embassy in your country of destination – just in case you need it.