The coverage international travel insurance provides will differ between insurers, as all providers are different. All coverage will be contingent on meeting your insurer's qualification criteria and abiding by their terms and conditions, which is important to consider. However, in general, the following events can be covered under a comprehensive travel insurance policy:
Medical expenses
This is the most important factor for most Australians jet setting abroad, as being injured in an accident or falling ill overseas can result in a hefty hospital bill which can put a major dampener on your holiday (if not stretch your budget considerably). This can include a variety of different costs, including:
- Standard medical treatment
- Emergency treatment, such as in a hospital
- Ambulance or helicopter transportation to receive treatment
- Emergency evacuation and repatriation
However, it’s just as important, if not more so, to learn about what your policy doesn’t cover. There may be certain activities which aren’t included in your policy which won’t be covered if your medical requirements stem from them, such as if you fell off a motorcycle and required treatment when you hadn't purchased the optional extra to cover you for motorcycle riding.
It’s also important to note that many insurers won’t, or will charge extra to, cover treatment for certain pre-existing conditions. There will generally be a list of conditions which are automatically covered under your agreement, such as asthma and glaucoma, but those which may be excluded by certain insurers include cancer, diabetes, heart and mental health conditions.
When comparing your insurance options with Savvy, it’s important to look for one which can provide cover for your condition.
Loss or theft of (or damage to) items
Many travellers may be concerned about misplacing their belongings, having them stolen or damaging them. Under a comprehensive policy, you may be able to access coverage in this area, with items such as luggage, phones, laptops, jewellery and even cash among the most notable common inclusions by insurers. However, this will be subject to the terms and conditions of your agreement and reimbursement will be granted at the discretion of your lender.
Your policy can reimburse you for the value of lost or damaged items up to a set limit if you qualify for coverage, which will differ depending on the item. For instance, smartphone limits may be set at $1,500, while you could receive cover of up to $3,000 for a camera or computer (subject to its value, depreciation and the circumstances surrounding your claim).
In terms of what won’t be covered by your policy, you may not be able to claim for reimbursement if your item or items were lost or stolen whilst unattended or if you were under the influence of alcohol when they disappeared or was damaged.
Cancellation fees
Sometimes things go wrong both prior to and during your holiday and you need to cancel plans, whether they be hotel bookings, flights or other experiences which may not be refundable. There are many situations where an international travel insurance policy can help you out when it comes to covering the cost of cancellations, including the following:
- You become ill, or a family member falls ill or dies
- You're unexpectedly made redundant from your work without any knowledge prior
- A natural disaster occurs, such as a fire, flood or storm
These are all subject to your insurer's terms and conditions. However, not all cancellations will be eligible. If you knew about a potential situation prior to booking your holiday and purchasing your policy and it becomes the reason for your cancellation, such as travelling against government advice. Mistakes from airlines or travel agencies also aren’t covered, nor are cancellations due to a terrorist incident at your destination.
Hire car excess
If you’re renting a car overseas and end up in a scrap, your travel insurance policy can cover part, or all, of the excess you’re charged if you qualify for coverage. This will also be subject to a given limit, so you may be required to pay out of pocket if your benefit falls short of the value of your hire car excess (as well as your own excess as part of your insurance policy).
However, there are several clear situations where you won’t be covered, such as if you were breaking local laws at the time or were using the incorrect type of petrol. Some companies will only include this as an optional extra, so if you’re planning to rent a vehicle while you’re on holiday, it’s worth comparing your options to find one which can cover you.