Why Purchase Travel Insurance
The Benefits of Travel Insurance
Travel Insurance provides protection when travelling overseas and within Australia. It gives peace of mind that you are covered in the case of emergency such as sickness or accident, lost or damaged luggage, motor vehicle accident and cancellation.
Why you need a travel insurance policy?
Although the chance is relatively small that you will need to make a substantial claim it is a risk you cannot afford to take. In cases where they had insufficient travel insurance people have had to sell or (re)-mortgage their house in order to cover expenses, usually of a medical nature, that they incurred as a result of an illness or accident overseas.
What is a good travel insurance policy?
A good travel insurance policy is one that gives you value for your money. Value for money in travel insurance is a policy that provides the required amount of cover at a reasonable premium together with an always readily available and informative Emergency Assistance contact and an efficient and fair Claims process. When purchasing a travel insurance policy you should look at the quality of the policy as well as the premium. The cheapest policy in the marketplace is generally not the best policy.
What does travel insurance cover?
Our policies cover the following events (subject to certain conditions) whilst traveling overseas:-
- Medical Expenses
- Medical Evacuation and Repatriation
- Travel Cancellation & Deferment Costs
- Luggage & Personal Effects
- Emergency Travel Arrangements
- Rental Vehicle Expenses
- Death Expenses
- Personal Liability & Legal Expenses
Please check each policy product and type carefully for its Inclusions and Exclusions
Travel Insurance is normally purchased for the full duration of the trip. It can be extended for anything up to 12 months as long as the extension is put in place before the policy expires.
Travel Insurance Quick Facts
- Travel Insurance is strongly recommended by the Department of Foreign Affairs and Trade for all overseas travel. They say "If you can't afford travel insurance you can't afford to travel"
- 24 Hour Emergency Assistance: All Cover-More policy holders have access to our Emergency Assistance Team. This experienced team works around the clock assisting our clients when they are in need of help.
- Approximately 1 in 10 Cover-More policy holders make a claim on their travel insurance.
Travel Insurance Case Studies
The following are some examples of the kind of cases handled by the Australian Department of Foreign Affairs and Trade:
The reasons for Australians requiring hospitalisation vary. Cases handled by the department have included car and motorbike accidents, a simple misstep and fall at a temple, and side effects from prescribed drugs. The department advises 'if you can't afford travel insurance, you can't afford to travel'. In many of the cases it is the traveller's family who have had to foot the bill.
- In Bangkok a man was hit by a car while riding a motorcycle. He sustained a badly fractured leg and was admitted to the nearest local hospital. His wife was with him. He did not have any travel insurance, and so had no choice as to hospital or treatment. The hospital did not have the expertise to do anything for him except clean the wound. After 3 weeks his wife asked the Embassy for assistance as parts of the shin bone had died and the fractured ends were not healing. The Embassy assisted in having the man medically evacuated to Australia for admission to hospital, at very considerable expense to his family.
- In Bali, 5 Australians were injured in a mini-van accident. Consular assistance was limited to support and routine contact with next-of-kin (NOK), as all the Australians involved had travel insurance. The travel insurance company paid their hospital bills and arranged their medical evacuation to Australia.
- A young man worked in a US ski resort for four months, then took time off to travel around the US. He permitted his 12-month travel insurance policy to expire just a few days before his departure for home. He was hit by a car while crossing a road and suffered serious head injuries. He was admitted unconscious to intensive care and required highly intensive sophisticated care until he was able to be flown back to Australia. He was still unconscious and returned on a stretcher. The cost to the family for the medical evacuation alone was $80,000. They have taken out a second mortgage on their house to raise the funds.
- A young Australian surfer went to the United States for a surfing competition. Although an experienced surfer, he unfortunately chose the wrong wave during a practice session. The wave dumped him on a reef and he sustained serious injuries. He was flown to a local hospital and immediately underwent two major operations. The hospital bill was for AUD290,000. Fortunately the young man's parents had insisted he take out travel insurance before he left Australia. The insurance company covered the bill, and the young man and his family were able to focus on his recovery.
PLEASE NOTE: All policies except the "Overseas Visitors to Australia" Policy are available to Australian Residents only. All policies must be purchased prior to commencement of the journey from the insured's country of residence.
If you have an Existing Medical Condition (EMC) please contact us by email on info@travelinsure.com.au or by ringing us on 1300 654 956 AEST so that we can give you the necessary instructions to apply. When you purchase travel insurance with us we will donate 2% to the Rice For Cambodia foundation.
Contact us with any questions about international and domestic travel insurance.
If you would like us to assist you in finding the Best Value for Money policy for your particular needs please contact us by email: info@travelinsure.com.au or ring Travelinsure at Canadian Bay Travel on 1300 654 956 during business hours (AEST).
We respect your privacy and have adopted the General Travel Insurance Code of Practice developed by the Insurance Council of Australia.
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If you have any questions in the process of purchasing the policy or require any assistance please contact us
Mon-Fri 9.00am-5.30pm AEST or Saturday morning on
1300 654 956
The issuer of Cover-More Travel Insurance is Great Lakes Munich Reinsurance Group, ABN 189 64 580 576, AFSL No. 318603. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation or needs. To decide if a financial product is right for you, please carefully read the Product Disclosure Statement, available from us, for the product. It is a condition of this website that you have received the Financial Services Guide. You agree to be provided the Financial Services Guide by accessing the following link – Financial Services Guide.