Travel insurance is as essential as your passport, regardless of your travel destination. There is an old saying, if you can not afford travel insurance, then you simply can not afford to travel! FOMO Travel is a firm supporter of this philosophy.
If you incur medical expenses while overseas and you don't have travel insurance, you are personally liable for covering these costs. The Government cannot pay for medical expenses overseas. Nor will your domestic private health insurance provider.
Travel insurance can cover the events that may occur before or during travel, such as trip cancellation/interruption, medical expenses for injury or illness, theft of valuables, baggage delay or damage and more. The cost of travel insurance is based on a number of factors such as the type of cover requested, the age of the insured, the destination of travel, length of stay and any pre-existing medical conditions. A wide range of travel insurance policies are available so shop around in order to find the policy that best suits your circumstances and travel plans.
Reasons to buy travel insurance
1. Your flight has been cancelled.
2. Your bags are lost and your medication is in it. You need to have an emergency prescription filled.
3. Your passport and wallet are stolen, and you need emergency cash and a replacement passport.
4. You're involved in an accident and adequate medical treatment is not available. You need medical evacuation.
5. You need to cancel your trip due to illness.
6. Your cruise line, airline or tour operator goes bankrupt. You need your non-refundable expenses covered and to get to your destination.
7. You have a medical emergency in a foreign country.
8. A terrorist incident occurs in the city where you’re planning to visit and you want to cancel your trip.
9. A hurricane forces you to evacuate your resort, hotel or cruise.
While most people travel safely overseas, some find themselves in trouble. Each year there are millions of cases of people having difficulty overseas. This includes cases of hospitalisations, deaths, and evacuations to another location for medical purposes. Medical treatment overseas can be expensive whether it is for injury from an accident or for illness such as food poisoning, appendicitis, or heart attack.
In cases where the individuals are not covered by travel insurance, such personal tragedies can be further compounded by a long-term financial burden. Hospitalisation, medical treatment, medical evacuations, or even the return of the deceased's remains to there home country, can be very expensive.
Daily hospitalisation costs in Southeast Asia regularly exceed $800; return of remains from Europe to somewhere like Australia is in excess of $10,000. The cost of medical evacuations from the United States regularly range from $75,000 to $95,000 and sometimes up to $300,000. Medical evacuations from islands in the caribbean have occurred in which costs have exceeded $60,000.
Unfortunately, not all of these cases involved travellers covered by travel insurance. Travellers who are not covered by insurance are personally liable for covering incurred medical and associated costs. As a result, families have been forced to sell off assets, including their family homes, to afford to bring other family members home.
Where you cannot obtain travel insurance to cover you personal circumstances, you seriously should consider the potential financial risks before deciding whether to proceed with planned travel overseas.
The best advice we can give you, like all travel related purchases, is get a quote, do your research and choose the best deal that suits you. Below we have provided a list to some of the biggest travel insurance providers world wide.
Although we have said to get quotes and look at all your options. FOMO Travel can highly recommend World Nomads for your travel insurance needs. You can get a quick quote for travel insurance at the top of this page, or you can check out our dedicated World Nomads page for all their information.
Travel Insurance Search Engines
Just like hotels and flights, one of the best ways to find the best travel insurance deals is to use a booking engine that searches multiple providers. We have provided two search engines that will search multiple travel insurance providers across the globe so that can can compare and choose the best option that suits you all in one easy location. Like we say with accommodation and flights, its always best to get more than one quote, especially for travel insurance.
We have provided links below to some of the biggest and best travel insurance operators. You will notice that some of these operators specialise in different areas.
As well as getting quotes from the two main search engines above and although we recommend World Nomads as a great provider of travel insurance, we also recommend that you get a few more quotes from specific travel insurance providers as well. Travel insurance is one of those products where cost can be quite a big difference between providers, so make sure you read the Product Disclosure Statements for each provider carefully to make sure it will suit your particular needs. Below we have links to a number of travel insurance providers. FOMO Travel suggests that you at least get an online quote from all these companies and compare each of the options available. It only takes a few moments to generate a live online quote and it is fairly easy to then make your choice and complete a booking.
Worldwide Providers (available to residents of most countries)
Providers for US residents only
Providers for UK residents only
Providers for Australian residents only
A few things you need to know about travel insurance.