If you can't afford travel insurance then you can't afford to travel

Having just spent a couple of weeks watching tourists bomb around a holiday island on motorbikes, and riding jet skis like lunatics, I was reminded how important it is to take out travel insurance every time you travel. 

Even though you might not be covered if you are drunk, breaking the law or behaving like an idiot, you still need that insurance just in case you are skittled by a local taxi, fall into a volcano or have a heart attack on a beach walk. 

Just about every day there is a "Go Fund Me" appeal to raise funds for someone who needs to be medivacced home or for an unisnured family member to be brought home in a body bag.  

Data from recent claims shows that uninsured travellers face extreme medical costs if things go wrong while they are abroad. 

nib Travel, a global insurance provider that is part of the nib health insurance group, paid out around $26.4 million in medical-related claims during the last six months.

nib Travel has paid claims for travellers who needed emergency medical care for serious conditions, including cardiac issues in the United States; respiratory illness in Qatar, and complications from a fracture in Vietnam. 

Dylan Wilkinson, head of APAC & nib Travel Marketing at nib Travel, said that while most trips proceed without any need to claim, medical emergencies can strike unexpectedly and carry significant financial consequences. 

“Nobody plans to have a medical emergency while overseas, but it can happen anywhere, at any time,” Wilkinson said. “While only a small proportion of travellers need to make a claim, the financial burden when something goes wrong can be overwhelming.”

nib Travel offers insurance that may (note the word may) cover a range of medical events such as hospital admissions, medical evacuation and repatriation, dental emergencies, and some pre-existing conditions.

“It’s easy to underestimate how quickly costs can escalate, especially in countries like the United States where healthcare costs are significantly higher," says Wilkinson. 

"Without insurance, these types of unexpected events could leave travellers with significant out-of-pocket costs. The reality is that the cost of a single serious claim can far exceed the cost of the insurance itself.”

For more info see www.nibtravelinsurance.com.au. Make sure, as with every insurance policy, to read the small print. 

It pays to compare a couple of policies to see which best suits your needs, and your budget.  

Image: Phillip Bird, Scopio