Australian Travel Tips: Choosing Travel Insurance
As the saying goes, if you can’t afford travel insurance, you can’t afford to travel. Those who’ve been caught by illness or injury can attest to the peace of mind that proper insurance coverage can give.
The Department of Foreign Affairs and Trade advises all Australians to buy travel insurance before going overseas. Each year DFAT helps thousands of Australians in difficulty overseas - including more than 700 hospitalisations, 600 deaths and 100 medical evacuations. And while that’s only a tiny fraction of the 4 million Australians who travel overseas each year, it pays to play safe.
Hospital costs in South-East Asia regularly exceed $800 a day, and in the United States, basic hospital treatment can cost 10 to 15 times what you would pay in Australia for private hospital treatment. Medical evacuations from the US usually cost between $75,000 and $95,000 and sometimes up to $300,000, according to department figures. Evacuations from closer places, such as Bali, can run to more than $60,000.
Unlimited cover for hospital and medical costs is vital for travel to the US, Japan and Europe. A brochure listing countries with reciprocal rights with Australia for Medicare-style care is available at airports or through travel agents. But if a public bed is not available, you may still be treated and charged as a private hospital patient.
If you are not covered by insurance, you are liable for medical and associated costs - and that could mean selling your home and other assets such as superannuation to pay for the cost
What kind of insurance is the best?
“As much as you can afford,” says Insurance Council of Australia (ICA) spokesman Rod Frail. Medical expenses, repatriation expenses, lost luggage and trip cancellation are just some of the possible disasters most insurance policies cover.
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