Travel insurance - optional or essential?

[SFSC]

The issue becomes actually getting cover for some pre-existings as you age. There comes a time when it's best to forgo travel to some destinations altogether and to make provision for a possible financial hit on any trip.

 

[Quickstatus]

I discovered today while arranging for travel insurance (TI) (which should be compulsory at least for medical and evac), that family annual multitrip will only cover the "family" if they are travelling with "you". Each family member is not individually covered except the first adult. So my understanding is that in a family of 2 ad and 3 ch, if adult a purchased TI then if adult b travels individually for another trip they are not covered. Am i correct?

I believe that at exit immigration there should be an exit "tax" for aussies who do not carry an eligible TI policy which covers at a minimum medical treatment and medical evac. The tax which should be a premium to comparable TI policies is then used to purchase travel insurance. So we don't get these situations where people get injured OS and we get sob stories and requests for help via crowdfunding etc etc. No travel insurance = exit tax which is say 150% of a comparable TI policy


TI on the other hand covers a lot of "extras" which are relatively unimportant

I say the top 5 "Musts" in a TI policy is:
Medical treatment
Medical evacuation
Rental vehicle excess
Personal liability
Evacuation for terrorism, coup detat, riots, political/civil unrest, natural disasters etc etc.

Everything else should be optional.

 

[AdMEL]

I discovered today while arranging for travel insurance (TI) (which should be compulsory at least for medical and evac), that family annual multitrip will only cover the "family" if they are travelling with "you". Each family member is not individually covered except the first adult. So my understanding is that in a family of 2 ad and 3 ch, if adult a purchased TI then if adult b travels individually for another trip they are not covered. Am i correct?

I believe that at exit immigration there should be an exit "tax" for aussies who do not carry an eligible TI policy which covers at a minimum medical treatment and medical evac. The tax which should be a premium to comparable TI policies is then used to purchase travel insurance. So we don't get these situations where people get injured OS and we get sob stories and requests for help via crowdfunding etc etc. No travel insurance = exit tax which is say 150% of a comparable TI policy


TI on the other hand covers a lot of "extras" which are relatively unimportant

I say the top 5 "Musts" in a TI policy is:
Medical treatment
Medical evacuation
Rental vehicle excess
Personal liability
Evacuation for terrorism, coup detat, riots, political/civil unrest, natural disasters etc etc.

Everything else should be optional.

I can't answer your family TI question, so I'll leave up to more experienced members!

I agree with the rest of your comments, except for the last of your top 5 requirements - I thought pretty much all policies excluded cover in those circumstances?

In relation to points raised by other posters regarding medical costs -particularly in the US - a quick Google search shows that whilst the US appears to be the most expensive in the world for most medical, Australia isn't far behind for some things! One example I came across was cataract surgey, where we were only a few dollars less than the US!

 

[Cynicor]

I think it will depend on the policy. My TID policy was the same cost for 2 but covers both individually, which is nice.

 

[cove]

Essential !
Medical evacuations are very costly so if you want a vacuum cleaner sucking your money out of your pocket try no travel insurance.

 

[harvyk]

A couple of people have mentioned dom travel insurance, well for me personally I'm not so worried as it's always possible to get back home by driving if the worst comes to the worst.
I have gotten dom TI a couple of times when I realized that it was cheaper (at worst the same price) to do that than pay for car hire excess insurance. But there I was more worried about not been out of pocket if it crashed the car, the medical and other benefits where simply icing on the cake.

 

[markis10]

A couple of people have mentioned dom travel insurance, well for me personally I'm not so worried as it's always possible to get back home by driving if the worst comes to the worst.
I have gotten dom TI a couple of times when I realized that it was cheaper (at worst the same price) to do that than pay for car hire excess insurance. But there I was more worried about not been out of pocket if it crashed the car, the medical and other benefits where simply icing on the cake.

Frequent traveller policies include domestic cover, mine paid for itself a few years back when a cyclone crept up on me, it's not always possible to get home by driving nor cheap. The domestic car hire coverage is probably the biggest benefit though in risk and $$$, especially during storm season.

 

[harvyk]

Frequent traveller policies include domestic cover, mine paid for itself a few years back when a cyclone crept up on me, it's not always possible to get home by driving nor cheap. The domestic car hire coverage is probably the biggest benefit though in risk and $$$, especially during storm season.

Since most of my dom travel is within the golden triangle, whilst it's hardly a fun drive (I should know, I have driven from CBR to BNE / SYD and MEL vv within the space of a few weekends) it is certainly doable, and worst case scenario I can call family / friends to come and get me.

I've never bothered to get an annual policy since my travel amount is so up and down, so each trip I'll simply arrange a single trip TI policy before traveling.

 

[markis10]

Since most of my dom travel is within the golden triangle, whilst it's hardly a fun drive (I should know, I have driven from CBR to BNE / SYD and MEL vv within the space of a few weekends) it is certainly doable, and worst case scenario I can call family / friends to come and get me.

I've never bothered to get an annual policy since my travel amount is so up and down, so each trip I'll simply arrange a single trip TI policy before traveling.

Still pretty hard to say no for that pattern, given cost is only $200 which is less than a night accomodation, especially with what seems to be increasing weather effects on flights eg Friday night.

 

[NM]

My son asked if he really needed travel insurance as he is on a very tight budget. I told him that if he cannot afford travel insurance he cannot afford to travel. Its not a matter of not being able to afford the insurance, its a matter of not being able to afford not to have travel insurance.

He found the money for it.

 

[BadgerBoi]

I say the top 5 "Musts" in a TI policy is:
Medical treatment
Medical evacuation
Rental vehicle excess
Personal liability
Evacuation for terrorism, coup detat, riots, political/civil unrest, natural disasters etc etc.

Not rental vehicle excess, but yes to the rest.

 

[Cynicor]

Even my student brother who camps rather than pays for backpackers (!!!) gets TI. As he climbs, ice climbs, free dives and does all sorts of others stupid stuff, he has to spend time finding the right policy. Most of them only cover medical but that is enough at a bare minimum.
To mobilise several hundred thousand dollars would take time and is not something you want to have to think about. For those that mainly travel domestic, while everywhere is driveable, sometime you just cannot drive or be driven with certain fractures. Several of my pts have used TI to get them home after significant injury, so they can rehab at home. Otherwise your significant other or family have to choose to find somewhere nearby to stay, or to leave you behind to save money.

As the diff on an annual poilcy vs a few policies for 2-3 o/seas trips is minimal, I suggest an annual worldwide as a "fire and forget" type thing.

 

[Limewood]

With some Plat. CC you get travel insurance like my ANZ card I've relied on that but not used it, anyone have thoughts on this type of insurance.

 

[Cynicor]

I feel that this sort of basic insurance is useful for domestic travel and simple oseas trips, esp if you just want medical. You must ensure that you meet activation criteria on each trip, however, and check how and when supp holders or spouses are covered.

 

[breakNegg]

I just took out some Insurance for an overseas trip next year, like they say if you can afford to travel, you can afford to have insurance. RAC here in WA are offering 10 percent discount and another 10 percent if your a member.

 

[trooper]

I go to the US twice (if I'm lucky 3 times) a year for sporting competitions... An annual policy (lately through TID) has become my "standard".. Main concern is medical. Last year a friend ended up with a USD$30k bill after hospitalisation on a trip - without insurance.... He could more or less afford that... I cannot. The cost of an annual policy is a small % of THAT anyway!!!

The fact I have cover on domestic trips is a nice little bonus!

 

[mandja]

Eseential
(
Couple of years ago when first one the my other parent passed away, and also father in law !), my son was in Alaska and daughter in Mexico. Insurance covered their flights back for funerals.
BTW the insurance was free and came with credit card (KF Platinum)

The policy was brilliant esp considering that there was no upper limit on the age of the covered people - my dad was 99 when he died !! Luckily what he died from was not "pre-existing illness" related

 

[amaroo]

IMHO crazy to go OS without TR.

As another poster states some CC provide cover....QF Amex Ult & CBA Dia are two of a few that we rely on.

 

[Gredgy69]

As the american express ad used to say "don't leave home without it". I would never travel without insurance. Even though I have been lucky so far and haven't needed it, it's still one of the first things I organise. It just gives you peace of mind.

 

[JohnK]

Essential.

Had a claim 6 years ago for delayed luggage.

In saying that I know a few people who do not even consider travel insurance. They think the risk is worth it.