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A guide to getting travel insurance
A holiday is for relaxing. But unexpected events, from lost luggage to a medical emergency, can happen. Travel insurance is your safety net, letting you travel with the confidence that you're protected if things don't go to plan.
You can get quotes from multiple Aussie brands instantly here on Mozo.
Why do you need travel insurance?
You don't get insurance because you expect things to go wrong; you get it in case they do. Imagine if:
- An airline loses your luggage and you need to buy new clothes.
- You get sick and have to extend your hotel booking or seek medical care.
- Your trip is cancelled before you even leave home.
In other words, travel insurance is one of the most important things you'll pack for your trip.
Spending a small amount on it now can prevent your trip's cost from blowing out dramatically if something unexpected happens.
What types of travel insurance are there?
Generally travel insurance providers will offer three different types of cover. These are:
- Domestic travel insurance. For travel within Australia. Covers cancellation and luggage, but excludes medical as most Aussies and other residents are covered by Medicare or some sort of private cover locally.
- International travel insurance. Covers overseas medical, cancellation and luggage. Basic international travel insurance policies may offer medical-only cover as a cheaper alternative.
- Multi-trip international travel insurance. An annual policy that covers all your trips in a year, ideal for frequent travellers or long-term journeys.
Many providers offer added cover for trips with different types of risks. For example cruises, skiing trips and adventure sports will often require you to pay for an add-on or go with an insurer who specialises in those types of trips.
Policies also exist for specific types of travellers, like seniors or large groups.
What does travel insurance cover?
While domestic travel insurance is certainly helpful for things like trip cancellation or lost luggage, the most significant financial risk comes from medical emergencies overseas.
In Australia, most have the safety net of Medicare for major hospital costs. When you travel abroad, that safety net is gone and you’re on your own.
For that reason, the table below focuses on the benefits you'd find in a comprehensive policy. The most critical of these being overseas medical, given the sheer financial downsides to an uninsured hospital visit overseas.
|
Benefit |
What’s usually covered |
| Overseas medical & hospital cover |
Covers emergency hospital stays, treatment, and ambulance fees when you're overseas. The most critical part of any international policy (not usually applicable to domestic policies). |
| Cancellation & trip changes |
Reimburses prepaid flights, hotels, and tours if you have to cancel or end your trip early for a covered reason. |
| Luggage & personal belongings |
Covers the cost to repair or replace your bags and personal items if they are lost, stolen, or damaged. |
| Personal liability |
Covers you financially if you're found legally responsible for injuring someone or damaging their property overseas. |
| Optional extras |
Cover for specific situations that can be added to your policy, like skiing, cruising, or overcoming travel delays to get you to a special event like a wedding |
Just remember, coverage varies between policies, so please read the relevant PDS for full details.
Where can I find the best travel insurance?
The "best" travel insurance is simply the one that's right for your trip and your budget. For some travellers, that means a policy with the most comprehensive cover available. For others, it means finding a great-value option that still covers all the essentials.
