We’ve all seen the horror stores on the news about how a person has been trapped in a hospital in some foreign land and accumulating tens of thousands of dollars in hospital bills. The reason for the situation is the person has not purchased travel insurance for the trip and is now stuck in a horrible situation of requiring urgent medical treatment without a means to pay. Although this sounds like a rare occurance, it is a chance you shouldn’t take when travelling overseas. Medical treatment in some countries, especially the US, can go into the tens and even hundreds of thousands of dollars depending on the injury sustained. The Australian government will not pay for medical treatment however there are some countries that have an reciprical agreement with Australia and Medicare will subsidise your treatment.
Some countries take travel insurance so seriously that they are some that won’t let you into the country unless you have it.
Travel Insurance is definately one insurance you must always take.
Here are some tips to picking the right insurance.
Firstly, check the places that you’re going. There is different cover if you go to different places and the cost will vary. Some riskier places have higher premiums. Make sure you get a policy for every country that you will be travelling to.
Secondly, depending on how often you holiday and how long you holiday some policies could be more cost effective. An annual multi-trip policy could work out cheaper if you are a jet setter.
Thirdly, make sure you cover yourself for extreme sports or specified items.
Lastly, make sure you cover yourself for any pre-existing illnesses.