What is Travel Insurance?
Travel insurance covers medical expenses and financial losses that could arise while you are away from home on a trip, whether it is a holiday or for business. Travel insurance can be purchased for short or long trips (be it five days or twelve months). Cover is typically purchased when you pay for your first deposit or flights.
Travel Insurance Policies
Quality travel insurance includes a range of features, benefits and cover options. Travel Insurance policies are typically purchased so travellers can set off with peace of mind. You can not plan for the unexpected, but you can prepare for it. For instance; medical plans provide medical coverage and emergency evacuation services – to get you to a safe place. In fact, emergency assistance underpins the importance of travel insurance, offering services such as locating the nearest emergency accommodation, doctors and hospitals and even language interpreters when in an unfamiliar, foreign country. Holiday flights, packages and cruises usually require large, non-refundable deposits. And in the case of remote travel, including a cruise, there is usually considerable and expensive distance to the nearest medical care. Hence, it is recommended that medical coverage and emergency evacuations have unlimited cost coverage.
Comprehensive Travel Insurance plans typically include:
- Medical coverage (unlimited)
- 24/7 emergency assistance (to help you find medical care, change travel plans, etc.)
- Unlimited emergency evacuation
- Trip cancellation (due to illness, operator insolvency etc.)
- Delayed or lost baggage insurance (including reimbursement for the replacement of essentials)
- Flight delay (If your travel plans are delayed for several hours, the insurance company will cover hotel accommodations and meals while you wait, and make new travel arrangements on your behalf)
- Trip interruption coverage (If inclement weather, illness, or injury cuts your trip short, you’ll be reimbursed for the unused portion of your trip)
- Accidental death and dismemberment coverage
- Replacement of travel documents, belongings that is lost or stolen
- Legal assistance; and
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Other Travel Insurance Options to Consider:
Multi-trip – If you travel more than once throughout the year, including domestically and internationally, it may be cheaper to purchase annual insurance rather than a separate policy for each trip. This type of cover is often referred to as an ‘Annual Multi’ policy.
Business – If you take frequent trips for work, consider business travel insurance. It can be purchased for a single trip or on an annual basis. Coverage usually extends beyond the normal travel insurance limits to include reimbursement for cancelled conferences and trade shows and other work related items.
Cruising, Skiing and Golfing – These options are usually low cost, add-on covers. For instance, ski travel insurance considers all the things that are unique to the snow, like your equipment, hire fees and even avalanches! Whilst cruise travel insurance offers “ship to shore” evacuation, marine rescue and formal cruise attire and golf cover insures your golf equipment.
Family – Family holidays are the stuff of great memories and experiences. Quality travel insurance usually covers children free of charge as long as they travel with the parent(s) or grandparent 100% of the time and don’t have a pre-existing medical condition. Both parents and grandparents can travel knowing that their children or grandchildren are covered under the one policy. Most insurers cover children up to the age of 21. Travel Insurance Plus covers children up to the age of 24.
Before You Buy Travel Insurance
Make sure you understand your insurance coverage. For instance, many people believe they have adequate travel insurance cover provided by their credit card. In Fact, many credit card policies don’t include unlimited medical or emergency evacuations, leaving people uncovered when they assumed otherwise. Be sure the policy meets your needs. Many policies exclude certain pre-existing medical conditions or travel to high-risk countries (ie; countries in the midst of war or known terrorism activities). If in doubt – simply talk to your provider. Important: You must make sure you read your product disclosure statement as it contains all policy limits, inclusions and exclusions.
Travel Insurance Plus Offers Great Value
Travel Insurance Plus offers a range of covers for domestic and international travel; we have insurance packages for singles and families, for one-off trips and frequent travellers. We are also a company who understands that quality cover at a fair price is what matters most. Underwritten by Allianz Australia Insurance Limited, Travel Insurance Plus offers a range of cover and benefits to help make your adventures memorable, for all the right reasons. Getting a quote is fast and easy or click here to compare our cover.
You can also read real-life examples of why travel insurance is important.