Tag: buying travel insurance

Bali stabbing incident highlights often overlooked value of travel insurance

Bali stabbing incident highlights often overlooked value of travel insurance | Insurance Business Australia Travel Bali stabbing incident highlights often overlooked value of travel insurance Insurer leaves reminder – balance between adventure and safety Travel By Roxanne Libatique A recent incident involving two Australians in Bali underscores the critical importance of travel insurance – a cautionary tale you can share with your clients. A PerthNow report revealed that the individuals, who were subjected to a violent attack, faced severe physical injuries and were left with substantial medical bills, totalling at least $65,000 combined for necessary surgeries. This situation was compounded…

How to Find the Best Travel Insurance

Booking travel always carries some degree of uncertainty. Travel insurance provides a safety net so you can step out with confidence. You may not need travel insurance for inexpensive trips, but it can provide a sense of security when you prepay for pricey reservations, a big international trip or travel during cold and flu season, which can be unpredictable. According to insurance comparison site Squaremouth, travelers in 2023 spent an average of $403 for comprehensive coverage, compared to $96 for medical-only policies. Comprehensive plans typically cost between 5% and 10% of the insured trip cost. Since that price tag is…

Majority of Australians underinsured or traveling without travel insurance: new survey reveals

Wednesday, 6 December 2023 A new survey has revealed a concerning trend of uninsured travel among Australians, with a significant number of people putting themselves at risk by traveling overseas without adequate protection. The survey of 1000 travellers, conducted by Quantum Market Research on behalf of the Insurance Council of Australia and the Department of Foreign Affairs and Trade’s Smartraveller, found that one in six Australians (16%) were not covered by any form of travel insurance on their last overseas trip. This lack of coverage was particularly prevalent among younger travelers, with more than half (60%) of those aged under…