Why Travel Insurance is Crucial for Mature-Aged Travellers
Whether you’re an experienced traveller or currently planning the trip of a lifetime, making sure you have the right travel insurance will ensure that you’ll be protected in the event that something goes wrong.
It’s often a challenge many mature travellers face that once you have the time and freedom to travel the world you are also faced with the challenge of finding the right cover. Doing your research and finding the cover that best applies to you and your situation is the easiest way to find a policy that will cover you for a wide range of events that could happen while on your travels.
What is travel insurance?
Travel insurance is essentially a legal contract that can cover you for any overseas medical expenses, emergencies, or travel-related issues such as lost or stolen luggage, and expenses incurred if your flight is delayed or cancelled, depending on your level of cover. Travel insurance is your peace of mind that if something happens to go wrong while you’re travelling, you will be protected and compensated according to your policy.
Travel insurance can protect you from unforeseen events or financial loss from scenarios such as:
- Medical emergencies and evacuation costs: Travel insurance could cover you for accidents and medical emergencies that you may encounter while overseas. This may include medical treatment, dental treatment, hospitalisation, and emergency evacuation.
- Trip cancellation and flight delays: Travelling often comes with unforeseen events such as flight cancellations or delays. Your insurance will cover you if you’re unable to travel for reasons outside of your control, as well as reimburse you if you trip is interrupted due to transport issues, natural weather disasters, or terrorist attacks, in accordance with your policy’s guidelines.
- Loss, theft, or damage to luggage or personal belongings: If you are taking expensive items such as a camera or laptop on your travels and the items are lost or stolen, travel insurance may reimburse you for the direct loss of these items. If your luggage is lost, insurance could also cover any finances needed to purchase clothing and items necessary until your lost luggage arrives.
- Personal liability: If you are involved in an accident while overseas, or accidentally cause damage and are held accountable for it, travel insurance may cover liability and legal expenses.
Why do you need travel insurance?
Many of these risks listed above come with financial or personal loss, and would require you to pay the full expense if you are not covered by insurance. If you happen to need medical assistance while overseas for example, you would need to pay full medical expenses out of your own pocket - which can be exorbitant in foreign countries such as the USA, where a trip to the ER will cost between USD$1,957-$2,168 (AUD$2,768-$3,066). And in situations that are classed as natural disasters (flood, hurricane, tsunami, earthquake, etc.) travel insurance will cover medical expenses as well as the costs of flight changes, cancellations, and loss of personal effects, dependent on your policy.
According to the Department of Foreign Affairs and Trade (DFAT), the cost of medical evacuations from the USA regularly ranges from between $75,000-$95,000. In Southeast Asia, daily hospitalisation can be in excess of $800 with medical evacuation from Bali exceeding $60,000.
No one wants to fall ill or require medical assistance while on holiday, but it can happen. And this is where travel insurance is your peace of mind that if anything does go wrong, you won’t have to worry about the added stress of an unexpected financial burden.
What do I need to know before purchasing travel insurance?
Mature aged travellers travelling with Albatross Tours shouldn’t have to worry about finding a cover due to their age. That’s why we recommend you purchase your insurance with our preferred provider Covermore Insurance.
Before purchasing your insurance, be sure to:
- Book an appointment with your GP and get a full health checkup. Find out if you need any vaccinations for the country you are travelling to. If you’re travelling with medication, be sure to get your doctor to provide you with a letter detailing your medication as some countries it is illegal to bring in certain medications, especially if it’s not declared or in its original packaging.
- Disclose any pre-existing conditions to your insurer so that they can factor this into your policy.
Travel insurance is just as important as your passport, so don’t leave home without it. Travel insurer expert Bessie Hassan advises mature aged travellers to choose a policy that includes unlimited medical cover, and to always be honest when lodging your application. While a pre-existing medical condition or your age may raise the price of your cover, it is worth being transparent about it and having that comfort in knowing that as long as you have travel insurance you are protected financially and medically while overseas.
Get a free travel insurance quote today
Here at Albatross Tours we believe that protecting yourself while abroad is essential, which is why we make it a condition of travel for our tour passengers to have travel insurance. Our recommended provider Covermore Insurance offer a quality travel insurance product, and you can apply for a free quote here.