Booking a holiday is an exciting thing, as you contemplate your getaway adventure where you can cast your worries aside. However, there is still one question remaining for many. Do I need travel insurance? Whilst there are many things to consider, the overall answer is yes. Many think they can save a buck by giving travel insurance a miss, however many more can attest to its vital importance from the times it has saved them, and even more so from the times they didn’t have it. As industry professionals who have seen and heard it all, we are here to tell you why travel insurance is a must.
You’re Covered From The Moment You Buy It
One of the most important things to understand, is that travel insurance isn’t just for when you travel. From the day the policy is issued, you are protected. When we put down cash on securing a holiday, we do so with the intention of travelling and things going to plan. But things can go wrong, and it may happen just before you travel months out, or even the day after you booked. Just because you didn’t plan it, doesn’t mean it won’t happen. If you are diagnosed with a medical condition the day after your insurance was issued, then it’s covered. If you have a 1-week holiday booked 6 months in advance, why miss out on the 25 weeks of coverage leading up to that 1 week. Don’t let yourself fall into the trap of believing that the cost of insurance is only for the duration of your holiday.
Medical Coverage
Health emergencies don't take vacations, but travel insurance ensures you're prepared for them. Comprehensive medical coverage is the backbone of a well-rounded travel insurance plan. Envision a scenario where you require medical attention in a foreign country—travel insurance not only covers the expenses but also ensures you receive the best care without the burden of exorbitant bills. In Australia we live in a bubble of security medically speaking, as our medical costs are lower, and the majority of it covered by Medicare. When you travel, you do not have such subsidies and safety nets. Picture yourself in a country like the United States of America, where medical bills can easily skyrocket into 6 figures. How about in a 3rd world country, where you may find yourself receiving dangerously poor treatment from severely underqualified staff because you couldn’t afford to get to a facility with basic standards of care. Even on a cruise ship or remote destination, you may pay up to $50,000 if there are insufficient facilities and staff present. Once you leave your safety net, can you afford a potentially life altering bill? Can you afford the consequences? Don’t put yourself in a position where you may not be able to afford or receive vital care.
Peace of Mind
Travel should be an opportunity for relaxation and exploration, not anxiety. Travel insurance offers you the priceless gift of peace of mind. Imagine standing on a serene mountaintop, knowing that if an unexpected medical situation arises, you're covered. It's the mental reassurance that transforms your journey into an immersive experience, allowing you to savour every moment without worrying about the "what-ifs."
Service Helpline
Lost your passport in a bustling city or faced with a sudden travel hiccup? A reliable service helpline is your lifeline. Most travel insurance companies provide access to a 24/7 support system, ensuring that you're never alone in navigating unexpected situations. Picture having a knowledgeable ally at your fingertips, ready to guide you through any travel-related challenge, whether it's a language barrier, a missed connection, or a misplaced reservation. You may be quite capable of handling these things yourself normally, but when things are going wrong and you’re under pressure in unfamiliar circumstances, that helpline can be invaluable.
The Little Things
Comprehensive insurance policies will often cover many little extras. From missed flight connections, damaged property, emergency clothing for lost luggage, good policies may even cover COVID. Whilst these kinds of occurrences can put a dampener on your trip, the ability to claim them on travel insurance certainly helps to soften the impact and keep your holiday running smoothly.
Another notable benefit is car insurance excess. As you may know, when you hire a vehicle, a car insurance policy is mandatory. However, these mandatory policies usually have a high excess of hundreds to thousands of dollars, which means that you may still end up forking out for any incidental scrapes scratches and incidents up to that value. Travel insurance can cover that excess amount to keep you from paying out of pocket.
Sometimes Insurance is Mandatory
Certain destinations and tourism operators prioritise the safety of their clients and may even require proof of travel insurance. It's not just a formality; it's a testament to the importance of having a safety net in place. Imagine arriving at your dream destination, only to find out that you can't embark on that thrilling adventure you've been eagerly anticipating because you overlooked this crucial requirement.
Someone To Take Responsibility
We all have that optimism that when things go wrong beyond our control, others may sympathise with our plight to cover costs. However, a healthy dose of realism accepts that many companies aren’t prepared to pick up the slack for a cancellation that should have been claimed on travel insurance. Many travel products and services are nonrefundable, especially when close to your travel date. Airlines in particular are infamous for charging full fees. Whilst the reason for the cancellation may not be your fault, it is important to understand that when you choose not to take travel insurance, you are also opting into taking responsibility for cancellations due to external factors. Travel insurance is there to take responsibility for ensuring that you are not the bag holder of financial burden, and don’t have to fight an uphill battle for compensation.
Picking The Right Insurance
Travel insurance comes in many different shapes and forms, so it is important that you get the right one for you. We recommend comprehensive travel insurance for full coverage, however there are basic policies that come in at more affordable prices for those on a tight budget. Low coverage is certainly better than no coverage. Some credit card companies also offer insurance options too. Whilst card insurance may cover some situations, be careful as most of these options do not offer the protection of real travel insurance policies. Make sure to read the product disclosure statement to properly understand the coverage being offered in each policy, as they will vary.
Travel insurance is not an add-on, it’s an opt-out. Just because you’re a good driver, doesn’t mean you should take the seat belts out of your car to save a dollar. Travel insurance, protects your health, finances, and provides a safety net to ensure you can remain carefree to enjoy unforgettable travel experiences. So, as you plan your next adventure, make travel insurance an integral part of your journey. Let your holiday be a holiday, and immerse yourself in the beauty of travel with the assurance that you're covered every step of the way. Safe travels!
Disclaimer: Please note that this blog offers generic information about comprehensive travel insurance, not specific claims advice. Insurance coverage will be specific to the details of your policy and your personal circumstances. We recommend reading the product disclosure statements or talking to your insurer for specific advice.
