The Ins and Outs of Australians Overseas Travel Insurance

When traveling, expecting the unexpected is a rule of thumb. Flight cancellations, lost luggage and tough economic times for carriers are just a few of the reasons why having travel insurance is more important than ever before, for Australian travellers. Travel insurance can protect you from personal liability and many out-of-pocket expenses that you would otherwise be responsible for if you did not own and were involved in an accident or experienced an emergency.

Plan ahead and purchase travel insurance early

The best time to purchase travel insurance is before you leave, particularly while you are in the planning stages of your trip. Why?

• It gives you time to review existing policies that you already may own

• You can explore all of your travel insurance options without rushing

• If you wait until after you leave on your trip to purchase travel insurance you may not be able to get coverage. Many travel plans are not retroactive, so you can’t get travel cover after you’ve been in an emergency or experienced a loss

Before you purchase a new traveller policy review any existing car insurance, mortgage insurance, or other policies you may own. Often these policies offer at least some limited coverage, especially in terms of lost, stolen, or damaged property; but will not offer enough to adequately protect you in all aspects.

Which travel insurance coverage is best for me?

Travel insurance is offered in several different policy types, the most basic of which are:

Trip cancellation or interruption insurance- Trips often require changes in scheduling do to unforeseen circumstances that may occur on the traveler’s or the carrier’s part. This policy can provide reimbursement for monies that you have paid on a trip that you will not be able to take. It’s important to note that there are certain restrictions that accompany this type of policy, and the circumstances must fall under the guidelines outlined by the insurer.

Lost or stolen baggage - Lost or damaged luggage is the bane of every traveler at some point or another. If your luggage is lost, damaged, or stolen this policy will provide you reimbursement for your luggage and valuables.

Medical coverage - If you become sick while traveling abroad, chances are your health insurance won’t cover you. Overseas medical centers and hospitals rarely accept foreign insurance and will require that you pay cash for any services you receive, which can be really costly.

Other travel insurance that is available and can be added to the above policies includes: holiday insurance, adventure insurance, and annual travel insurance.

Why risk traveling without insurance when there’s affordable travel insurance available to you right now? Don’t wait until it’s too late, purchase Australians overseas travel insurance today.