Travelling is one of the most exciting things to do, whether it’s for leisure, business or to visit loved ones. However, with travel comes a certain amount of risk. Flight cancellations, lost baggage, overseas medical emergencies, and accidents are all possibilities that could occur while travelling. This is where travel insurance comes in to help you face the unexpected. But the question remains - is travel insurance compulsory?
What is travel insurance?
Travel insurance is a type of insurance policy that is designed to cover various losses and events that may occur during your travels. These losses could include trip cancellation or interruption, lost luggage, overseas medical expenses, and emergency medical evacuation, among others.
Is it compulsory to have travel insurance?
Travel insurance requirements in each country can change from time to time, so it is important you consult the Smart Traveller website to ensure you have the most up-to-date information before you travel.
The decision to purchase travel insurance ultimately rests on the individual traveller. While travel insurance is not compulsory in all countries you visit, it is highly recommended for anyone planning to travel. The benefits of travel insurance can far outweigh the cost of the policy, and it may save you from financial burdens that can arise from unexpected events.
Is travel insurance compulsory for domestic travel within Australia?
Travel Insurance is not compulsory when you’re travelling within Australia. However, Qantas offers an Australian Travel Insurance policy which can help cover:
Trip cancellation if you’re sick or injured before your trip and can’t travel anymore.
Travel delays if your pre-booked public transport is delayed from departing for more than 6 hours.
Rental Car Excess to help cover the excess or deductible that you have to pay to the rental agency if your rental vehicle is damaged or stolen.
Luggage and personal items if they are lost, stolen or damaged while travelling.
What are some benefits of travel insurance?
Trip cancellation/interruption - Travel insurance can cover losses if you have to cancel or cut your trip short due to unforeseen circumstances such as an illness, injury, or natural disaster.
Overseas Medical emergencies - Travel insurance can provide coverage for overseas medical expenses, including emergency overseas medical evacuation, which can be very expensive.
Lost or delayed luggage - If your luggage is lost or delayed, travel insurance can provide reimbursement for the value of the items in your luggage.
Travel delay - If your flight is delayed from its scheduled departure due to bad weather or other reasons, travel insurance can provide coverage for additional expenses incurred during the delay.
Emergency assistance - Travel insurance can provide emergency assistance services, such as translation services and emergency overseas medical transportation, to help you in an emergency.
Covid-19 coverage - If you get diagnosed with Covid-19, some travel insurance policies provide cover for overseas medical expenses and quarantine costs, as well as trip cancellation.
While travel insurance may not be compulsory, it is highly recommended for anyone travelling, whether it is for business or leisure. Travel insurance provides financial protection against various risks that can occur while travelling, such as overseas medical emergencies, trip cancellations, and lost luggage. It might be better to be safe than sorry, and travel insurance could provide you some peace of mind knowing that your trip is protected against the unexpected.
Disclaimer Qantas Travel Insurance is issued by AIG Australia Limited ABN 93 004 727 753, AFSL 381686 (“AIG”). Qantas Airways Limited is AIG’s authorised representative (AR 261363). This is general advice only and your objectives, financial situation or needs have not been taken into account. You should consider whether the advice is suitable for you and your personal circumstances. Before making any decision to buy the travel insurance, you should read the Product Disclosure Statement (PDS), Target Market Determination (TMD) and Financial Services Guide (FSG).
