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Travel insurance, do I need it?
We always tell ourselves “it’ll never happen to me”, yet last year alone TID handled over 17,000 claims for everything ranging from cancelled flights to life saving medical treatment and everything in between.
Foreign Minister Julie Bishop recently made a statement in which she said, “If you can’t afford travel insurance, you can’t afford to travel”. Despite this warning many Aussies continue travel each year without insurance.
So just why is it so important to have travel insurance? Let’s go through some of the main things it covers you for.
Overseas Medical expenses
Australia is lucky to have such a great health care system. Because of this, we sometimes forget that healthcare in other parts of the world might not be so great or affordable for that matter. In the USA for example you can go into a medical centre with a fractured arm and leave with a $10,000 bill! We have a dedicated 24/7 Emergency Assistance team based right here in Australia. Should you need help, they will be able to guide you to ensure you get the right medical treatment. Remember the Australian government won’t cover medical expenses overseas, so don’t except them to bail you out if you incur expenses.
Cancellation or rearrangement of your trip
You’ve worked hard for this – you’ve saved money and annual leave just so you can go on this holiday. It’s an investment, and travel insurance will help protect your investment should you have to cancel or rearrange your trip due to any unforeseen circumstances. So if, for example, Mother Nature decides to strike just before you fly out with a Volcanic Ash Cloud denying you that Bali beach holiday, you can claim for the unused prepaid transport and accommodation expenses of your trip.
Your luggage and personal belongings
If your personal effects are stolen, permanently lost or accidentally damaged due to circumstances outside of your control, fret not; it can be claimed up to the benefit limits under your policy with TID.
When should I buy travel insurance?
You should buy travel insurance the moment you start paying for any travel arrangements i.e. flights, accommodation, tours. Unlike a lot of other insurers, TID covers you for trip cancellation from the moment you buy a travel insurance policy, so the earlier you grab a policy the safer your hard earned holiday dollars are. For example if you were to break your leg (touch wood!) before that dream holiday and were no longer fit to travel, you can claim for all your unused pre-paid travel arrangements through your policy.
Read the PDS for full terms, conditions and exclusions.
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