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Insurance

[ 0 ] November 28, 2009 |

If you can’t afford travel insurance you can’t afford to travel.”

Travel insurance is vital for any overseas trip whether it be one week or one year. Never underestimate the importance of travel insurance. Accidents happen, belongings get stolen, luggage gets lost, and tours get cancelled. Travel insurance can’t stop the mishaps but it can stop the financial pain.

Why do I need insurance?

Travel insurance in it’s simplest form is financial protection for you and your belongings while travelling. It provides a backup if something should go wrong. Travel Insurance will pay for those unexpected costs that may arise during travel such as emergency hospital/medical expenses, trip cancellation, lost baggage and loss of belongings as a result of theft.

In Australia we take for granted the relatively affordable cost of medical care. In many other countries medical care is substantially more expensive so if you’re injured or fall ill and you don’t have travel insurance you will incur the bill!!!

An example from the Smart Traveller website…

  • Daily hospitalisation costs in Southeast Asia: $800
  • Emergency Surgery in the US: 290 000.
  • Medical evacuations from the US: $75,000 to $95,000 and sometimes up to $300,000.

It’s a good idea to carefully research different insurance policies, compare inclusions and prices to see what is going to most suit your needs. Cheapest is not always best so make sure to read all the fine print and check what the policy would cover. Insurance can be difficult to understand so ask a consultant or your travel agent about the details of the different policies.

Things to note

Most policies will not automatically cover activities such as skiing, snowboarding and scooter riding so if you’re planning on doing any of these activities make sure you get a policy that covers these activities.

*Note: This is just a broad guide to travel insurance. Each policy is different and coverage varies from policy to policy. What might be covered under one policy may not be covered under another. Always check the fine print.

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Category: Travel Tips

About onurwaytravel: Colin has been travelling the world with his young family for the past 2 and half years. He runs a couple of websites all revolve around travel, family travel and digital nomadism. His websites include http://ourtravellifestyle.com, http://vagabondfamily.org, http://nunomad.com and now http://on-our-way-travel.com. View author profile.

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