That is the main question here, and hopefully we can answer both for you! If you bought a house would you leave it uninsured for thefts, natural disasters and emergencies? No way! You invest a lot of time and money into a house so why would you leave it, and yourself, unprotected?
We see travel insurance in the same way. It exists to protect YOUR investment in YOUR holiday! You’ve invested time and money into making this holiday happen, and travel insurance is there to protect this investment should anything happen to change your plans.
It can cover you for disruptions to your holiday that are out of your control - like delayed flights or if you need to return home for an emergency. It can cover you for an unexpected natural disaster that means your trip gets shortened, or worse, cancelled – like a volcanic eruption or a flood. It can cover you if you fall ill or have an accident and need medical treatment while you are away. If you need to be airlifted to hospital, or flown home to get medical treatment, it may cover you for those costs too. It can even protect you if your phone, laptop or camera gets stolen while you’re travelling.
And that’s just the main stuff – there are different policies to suit different people and types of holidays so that you can get the right kind of cover for you.
According to the Department of Foreign Affairs and Trade (DFAT) in 2016, 168,658 Aussies travelled without travel insurance and experienced an insurable event while overseas*. According to DFAT, consular services were provided to over 15,000 Australians last year, with 1,667 of those involving hospitalisations; 1,238 involving theft; 1,516 deaths and 76 repatriations.
All of these instances would have incurred costs for the traveller that could potentially be covered by insurance, and that is why DFAT recommends that sorting out travel insurance should be one of the first things you do when organising your holiday.
We agree – that’s why, at Travel Money Oz, we can help you find the right travel insurance policy for your holiday, through our partner, Cover-More^.
To give you an idea of what travelling without insurance could potentially cost you, we found a few real-life examples from Cover-More customers~ where an accident, illness, theft or some other unforeseen event happened to them while on holiday. If these customers had not had travel insurance – like those 168,658 Aussies who travelled without it last year - the costs associated with that event would have fallen to them to cover.
Luckily for them, they had taken out travel insurance before they left, so Cover-More was there to help instead. Here are some of these examples:
From a few thousand to hundreds of thousands of dollars, these customers benefited from having a travel insurance policy that suited their personal needs and circumstances. Without that protection, the customers would have had to pay those medical bills, replace their own luggage or rearrange their holiday plans at their own expense.
If it happened to you, would you be able to afford it?
While we hope it never does, you never know if you might fall down some stairs, or a volcano might erupt and ground all flights – and you. Isn’t it worth protecting yourself in case something does happen? It’s all about protecting your investments – and a holiday is definitely one worth protecting!
If you would like further information about any of Cover-More’s travel insurance policies, you can call or visit any of our Travel Money Oz stores nationwide. You can find your nearest store on our website.
*Source: 2015-16 Consular State of Play report issued by the Department of Trade and Foreign Affairs. ~Customer examples provided by Cover-More website https://www.covermore.com.au/interactive-claims-map ^Limits, exclusions and conditions apply. Insurance issued by Great Lakes Australia (ARBN 127 740 532, AFSL No. 318603). Any advice is general advice only. Please consider your financial situation, needs and objectives and read the Combined PDS/FSG available from us before deciding to buy this insurance.
This blog is provided for information only and does not take into consideration your objectives, financial situation or needs. You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs. While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you. We are not liable for any loss caused, whether due to negligence or otherwise, arising from use of, or reliance on, the information and/or suggestions contained in this blog.