Dusting off that passport is one of life’s great pleasures. Almost as exciting is the planning, deciding where to go, what to see and finding the best deals is all part of the adventure but unfortunately some Australians overlook one of the most important aspects of planning — travel insurance. It may not be as exciting as getting a reservation at one of New York’s hippest restaurants, but as the saying goes: ‘If you can’t afford travel insurance, then you can’t afford to travel’.
It’s a good idea to get a quote for this early on so that you can factor it into your costs.
The other side of researching your trip
The cost of a one-night stay in an overseas hospital bed can be costly and could outweigh that of a typical travel insurance policy as medicines and surgery overseas are often significantly more expensive, especially in third world destinations.
When you do choose your insurance, be sure to read the fine print. Most policies don’t cover incidents outside the insured period, any act of violence or illegal act or intentional damage by you, theft of cash, effects of alcohol or drugs, not following public travel warnings, disinclination to travel or new-for-old replacement of goods (they may just depreciate the value). And if you’re a keen skier, sailor or scuba diver you may need special cover. Know what you are and aren’t covered for before you sit down on the plane so you can go into your trip with assurance.
Be smart, be practical, and be prepared
Securing cover early means you could also be covered for delays or cancellations to your travel, you can register for updates on Smartraveller to stay up to date with any travel warnings that might affect your upcoming trip. And don’t forget to check if your cover includes costs of returning home early due to unforeseen circumstances or any loss of income should you be unable to return to work immediately.
There are so many small things you can do before you leave and while you’re away that can minimise the risk of something bad happening to you. You could purchase luggage locks, use hotel safes, register your trip with Smartraveller and make sure someone close to you knows your itinerary and you keep in touch with them along the way.
So now that you’re days away (or hours away, depending how organised you are!) from your big adventure it’s time to ensure you pack in everything you need. But the most important thing to pack isn’t your selfie stick or your wide brimmed hat but your paperwork.
Firstly make a few copies of your important travel documents such as your passport, ID, itinerary and of course your travel insurance information. It’s best to store these docs in a few different places. You can save them to your emails or online document storage so you have a digital copy, give a copy to a trusted friend or family members back home in case of emergency and of course print them out and pack them safely in your luggage.
Remember to also load a travel advice through Internet Banking to let us know that you're about to embark on an overseas journey.
Now you’re ready to have a great time on your next getaway!
Subject to the product issuer’s underwriting rules and acceptance guidelines. Terms, conditions and exclusions apply and are available upon application.
The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Product Disclosure Statement (PDS), other Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.
General insurance (including Travel Insurance) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. All our insurance issuers pay commission at rates which range from 0% - 40% of the base premium. The commission rate varies depending on the type of insurance.
People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd. ABN 11 087 651 125 Australian Financial Services Licence 244310, acts under its own Australian Financial Service Licence and under an agreement with the insurer Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance.
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