Travel Insurance

There's a range of factors which help determine the cost of travel insurance policies, including:

• Your age
• Your health (and whether you have any pre-existing conditions)
• Where you're travelling and how long you're away
• The level of cover you choose
• The optional extras you select
• The size of your travelling party (how many people are being covered under the policy)
• The size of your excess

While some insurers will exclude epidemic or pandemic-related expenses under their policies, many are now offering cover relating to medical and cancellation costs which may come about due to catching COVID-19 either before or during your trip or becoming a close contact. However, not all events will be covered, such as lockdowns in your state or cancellation or additional quarantine costs as a result of becoming a close contact. You also may not be covered if your claimable incident occurs within 72 hours of purchasing your policy. It’s important to compare your options thoroughly and determine what you’ll be covered for before you apply for your policy.

Whether you’re covered for pregnancy under your travel insurance may be determined by how far along you are in your gestational cycle and your doctor’s travel recommendations. It’s important to speak to your insurer and read up on your policy’s PDS to fully understand any pregnancy cover limitations or exclusions tied to your cover. Some insurers can offer cover for pregnancy-related claims up to 32 weeks or more, but others cap this at a shorter maximum of 18 to 24 weeks (though these periods are subject to a range of other qualification criteria relating to your pregnancy).

Most travel insurers allow you to you purchase your policy as soon as you’ve booked your holiday to ensure that you’re given the best chance of being covered should there be any cancellations in the weeks and months leading up to it. You can take out your policy as many as 12 months before travelling, but you’ll also be able to buy your policy right up to the day you depart.

Your insurer’s Product Disclosure Statement (PDS) is a document which outlines most of what you’re covered for under your policy. There may be additional criteria which can impact your eligibility outside of your PDS, but it’s still crucial to consider it when comparing your options so you’re clear on what is and isn’t included.

Some insurers also offer group policies for travel parties as large as 25 in some cases. This can be a more cost-effective way to take out travel insurance, as well as more efficient compared to taking out multiple individual policies. However, this will require everyone to have the same level of cover, so if certain members of your group need more than others, a group policy may not always be the best type of insurance for your travelling party.

Yes – there are travel insurance companies who can offer policies to students, whether you’re still at school, studying at university or an international student. Always refer to your insurer’s PDS to find out about any applicable age restrictions and exclusions.