How Important is Travel Insurance?
Travel insurance is as important as your passport.
Lesson 1. Do NOT buy travel insurance through an airline. The fine print on the Qantas website even states that Qantas can earn up to 53% commission on the travel insurance policies it sells! I’m even sceptical of insurance through travel agents.
Lesson 2. Make sure you organise travel insurance before you leave your home town. Travel insurance is extremely important and can cost you thousands of dollars if you become ill in the wrong country.
By this I mean, that some countries, such as the United States, will cost you an arm and a leg in hospital fees. Did you know that the average costs for bypass surgery in the USA is $74,000? That sure is an expense that will set you back.
By the way, there are not many vaccinations required for the United States as it’s a relatively safe place to visit. However, you will still need to make sure you have a general check up and routine vaccinations are up to date.
Medical insurance is just one of the things that needs to be covered. What about lost luggage, flight delays or other inconveniences such as overbooked hotels or car hire accidents. These can all be added to your same travel insurance policy and will give you great peace of mind.
The Australian government helps over 20,000 cases of Australians in difficulty overseas each year. Although they will not pay medical expenses, nor will Medicare cover the costs. This is your responsibility. You do not want your family to have to sell the family home, to bring you back in one piece.
Insurance on Credit Cards
If you have a credit card, which most people do, travel insurance can be included as part of the credit card policy. Check this out well before you leave. Some credit card institutions will also pay out a certain amount for car hire incidents.
Usually the more premium the credit card, the more it will cover.
Where Else Can I get Travel Insurance?
There are so many companies that will offer travel insurance. These days it’s made simpler by using iSelect, Choice or Canstar. These are insurance comparison companies. Here you can fill in a few details of your travels and you’ll receive various quotes from insurance companies.
Here’s a tip. Once you’ve done this, check out your local RAC Insurance. I’ve always found them to give the cheapest quotes. Also check out Australia Post travel insurance.
Do not leave home without travel insurance of some kind. You probably wont need it, chances are you’ll have a great time and no major financial incidents will happen. But, it could. And if it does, you will be out of pocket thousands.
Just do it!