Put simply, travel insurance is a way of protecting yourself against a wide range of things that could go wrong on holiday and cost you money.
Travel cover is may be important if you’re travelling overseas. Medical mishaps like unexpected illness or a nasty injury or accident could leave you stuck in a foreign hospital racking up a huge medical bill that you don’t have the means to pay.
Also consider the cost of replacing lost or stolen luggage or personal items, and any out-of-pocket expenses incurred if you have to cancel your trip due to circumstances beyond your control. These costs could also add up to more than you can, or are willing to, pay.
Beyond just the money, a travel insurer can provide emergency assistance if you find yourself in trouble overseas and need help. For example they can tell you the location of the closest doctor, or provide information on the standard of medical care in your location.
If you’re travelling only within Australia, Medicare (and private health insurance if you have it) will cover the same medical costs as they would if you were at home. But what about cancellation cover, baggage cover and rental vehicle excess if you’re hiring a car and have an accident? It may be worth your while to invest in a domestic travel insurance policy.
It’s for these reasons that some people feel quality travel insurance is worth the cost.
Imagine you plan a trip and book things like flights, accommodation, tours, event tickets and local transport in your destination, but are then forced to cancel for reasons beyond your control. Disaster, right?! The good news is if you also bought travel insurance that covers cancellation, you may be able to claim for unused travel and accommodation arrangements. Phew!
Depending on your situation, that type of coverage may not be a top priority for you, in which case you might want to consider a Basic Plan that excludes cancellation. Or if the security of cancellation cover is of the utmost importance to you, then in this case you may wish to consider a Comprehensive plan with unlimited~ cancellation cover.*
It depends which policy you buy.
A Basic Plan will usually just cover the basics like overseas emergency medical expenses and assistance, and personal liability. These can be among the most expensive things to go wrong abroad. So it’s certainly worth considering at least a Basic policy even if you’re trying to keep the cost of booking your trip as low as possible.
Comprehensive policies usually cover the above plus many benefits not available in cheaper plans. That could include coverage for cancellation, baggage, rental vehicle excess, accidental death, permanent disability, loss of income, theft of cash, and lost travel documents. Another plus of comprehensive policies is that they may allow you to add optional extra coverage for activities you plan to do on on your trip like snow sports, cruises or golf.
A domestic plan won’t include medical expenses as you’re covered by Medicare and/or your private health insurer while in Australia. But it may cover things like domestic flight changes or cancellations, lost or stolen baggage and rental vehicle excess, which could come in handy!
One benefit all plan types have in common is the added peace of mind you’ll have knowing you’re protected if something goes wrong on your trip that is covered by your travel insurance policy.
~ Where used, the term ‘unlimited’ only means there is no capped dollar sum insured. Terms, conditions, limits and exclusions apply as set out in the Product Disclosure Statement. All costs and expenses claimed must be reasonable. We will only pay for treatment received and/or hospital accommodation during the 12 month period after the sickness first showed itself or the injury happened. Please refer to the Product Disclosure Statement for full details
Worldcare Travel Insurance: Worldcare and Allianz Global Assistance are trading names of AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 which issues and manages travel insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Terms, conditions, limits and exclusions apply. We do not provide any advice on this insurance based on any consideration of your objectives, financial status or needs. Before making a decision please consider the Product Disclosure Statement. If you purchase a policy we receive a commission which is a percentage of your premium - ask us for more details before we provide you with any services on this product.
Worldcare Emergency Home Assistance: Terms, conditions, limits and exclusions apply. See Worldcare Emergency Home Assistance Terms & Conditions for details. Worldcare Emergency Home Assistance is provided by AWP Australia Pty Ltd ABN 52 097 227 177 trading as Allianz Global Assistance.