Travel insurance: Spend a little more now to save a whole lot later

 Travelling overseas can be expensive – what with flights, accommodation, activities, food and drink to think about. To save money, some travellers choose to skip travel insurance, hoping that nothing bad will happen while they are away from home. However, bad things happen all too frequently, which can end up costing a lot more than your average travel insurance policy.

What travel insurance can cover

Travel insurance is not one-size-fits-all. There are dozens of different insurance providers all offering different levels of cover. Travellers can choose from the more basic levels of cover, offering the travel insurance essentials at a lower cost, or they can choose policies that offer higher levels of cover and cost a bit more.

Travel insurance can cover the cost of medical emergencies and dental treatment. It can cover loss and damage of property, including luggage and more expensive items, such as cameras, laptops and jewellery. It can cover cash and credit cards that are lost or stolen, or travel documents, such as passports.

It can cover for flight delay and cancellation, so if your flight is cancelled, your travel insurance could cover the cost of putting you up while you wait for another flight. It could also cover for any losses as a result of that cancelled flight, such as missed tours and pre-booked accommodation and travel.

What travelling without travel insurance can cost

For some travellers, travel insurance is an unnecessary cost. However, saving a few dollars on travel insurance before travelling overseas can end up costing them a whole lot more when something bad does happen.

Those travellers may be willing to suck up the cost of a stolen camera or a lost bag, but it could be a different story if medical treatment is required. For visitors travelling to the US, medical treatment on something as ‘simple’ as a broken leg can cost tens of thousands of dollars.

Travellers requiring more serious medical attention, such as an operation, a hospital stay and repatriation back to their home country would be expected to pay hundreds of thousands of dollars for that treatment. With no travel insurance, how would those costs be covered?

How to find the right travel insurance

Luckily, the right travel insurance can be easy to find – and easy on the wallet. Simply compare travel insurance options online and choose the policy that offers the cover you need. When you apply for a travel insurance quote, be sure to read the terms and conditions to make sure that you are covered should you need to make a claim.

Think about how much you will need to pay in excess if you need to claim. Policies with a higher excess can be cheaper, however, it’s important to make sure you can cover that excess should you need to make a claim.

Think about what you would like covered. If you just want medical cover, then a basic policy may suit you. If you want more cover, choose a policy that gives you everything you need. If you plan on doing any extreme sports or winter sports, such snowboarding or skiing, make sure they are covered on your policy.


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