What is Travel Insurance?
Travel insurance provides financial protection for specified events that can affect domestic or international travel. Depending on the product selected, cover may include overseas medical and evacuation expenses, cancellation or curtailment costs, travel disruption, baggage and personal belongings, and limited personal liability. Cover is subject to the policy wording, schedule, certificate, limits, excesses and exclusions.
Why is Travel Insurance Important?
Travel can expose individuals and businesses to significant unplanned costs. Illness or injury overseas, cancelled arrangements, delayed travel, lost property or an emergency evacuation can create substantial financial and practical disruption. Travel insurance helps manage these risks and may also provide access to emergency assistance services while travelling.
What does Travel Insurance Cover?
Travel insurance can include several cover sections, depending on the selected insurer and product:
- Overseas medical and emergency evacuation expenses
- Cancellation, curtailment and non-refundable travel costs
- Travel delay and disruption expenses
- Lost, stolen or damaged baggage and personal belongings
- Limited personal liability and legal expenses
- Business equipment and business travel costs, where included
- Optional activities or extensions such as snow sports, cruise, golf, water sports or sailing
Not every policy includes every section. Some products allow removable modules or optional extensions, while others require specified core covers to remain in place. Medical conditions, destination, traveller age, journey duration and planned activities can materially affect the available cover.
If a standard travel policy does not meet the client’s circumstances, Insurance Advisernet may approach a specialist market or request individual underwriting consideration. Cover must not be assumed until confirmed by the insurer.
Most travel insurance policies contain exclusions and conditions. These may include travel against medical advice, travel to sanctioned countries or territories, excluded activities, failure to disclose medical information, and voluntary cancellation. Insurance Advisernet will provide advice on the applicable policy documents before a client changes or cancels any travel arrangements.
Frequently Asked Questions
Which travel insurance is best?
The appropriate policy depends on the destination, trip duration, traveller ages, medical conditions, purpose of travel, planned activities, cancellation exposure and the value of baggage or equipment. Insurance Advisernet can compare the available products and confirm if the selected cover responds to the client’s specific circumstances.
What is the difference between leisure and corporate travel insurance?
Leisure travel insurance is designed primarily for personal holidays and trips. Corporate travel insurance is designed for organisations and business travellers and may provide annual cover for multiple journeys. Some corporate products may include limited leisure travel for specified people, subject to the policy terms.
Are pre-existing medical conditions covered?
Cover varies by insurer and product. Some policies describe pre-existing conditions as covered unless the traveller is travelling against medical advice. Other products may require assessment, disclosure, acceptance or an additional premium. Insurance Advisernet can provide advice on the pre-existing medical requirements.
What is not covered by travel insurance?
Exclusions vary by policy. Examples include travel to sanctioned countries or territories, travel against medical advice, excluded activities and voluntary cancellation. A claim may also be affected if the client does not comply with disclosure, authorisation or supporting-document requirements. Insurance Advisernet can provide advice on the policy exclusions, conditions and restrictions.
What should a client do during a travel emergency?
The client should use the emergency assistance contact shown in the policy documents or assistance card. Where the policy or circumstances require approval, insurer authorisation should be obtained before incurring alternative travel, accommodation or other significant costs.
