Nobody likes to think about bad things happening on their long-awaited holiday or overseas trip. But the fact is they can happen, and while travel insurance won’t guarantee you’ll stay healthy or safe, it can be a lifesaver in the unfortunate event that something does not go to plan.
And although travel insurance may not be the most exciting thing you purchase when planning your holiday, it could be one of the most important.
Here are a few reasons why.
You’re about to travel to places where you may not be familiar with the local environment. You’ll probably be eating different types of food and trying exciting new activities. And even if you’re not, you can’t always anticipate the actions of other people.
Say you’re in a road accident and need to go to hospital. If you don’t have travel insurance – or the right type of travel insurance – this may leave you in serious debt. In the very unfortunate situation that you suffer long-term injuries or even pass away, travel insurance can also offer compensation for you and your loved ones.
Your suitcase going missing is just one of the unlucky risks of travelling and there aren’t really any steps you can take to avoid losing your luggage when flying.
But travel insurance can at least cover your belongings should your luggage be lost or stolen. It won’t bring back your favourite vintage T-shirt or your camera, but you might be able to replace them without being out of pocket.
Whether it’s due to some unexpected event in your life, extreme weather conditions or just a missed airport transfer, your plans can change. With travel insurance you can be covered in these scenarios which can help give you peace of mind and reduce any extra stress should you have to spend a few extra days somewhere.
Some credit cards offer international travel insurance as part of their package. Discover more about international travel insurance included with eligible CommBank credit cards. You, your spouse and your accompanied children can all have cover when travelling if you have one of these cards.
To receive cover, including Overseas Medical cover#, before you leave Australia you must:
You will also qualify if the $500 worth of prepaid travel costs is redeemed using CommBank Awards points. You will need to provide a copy of the letter/statement/email confirming the redemption.
You need to activate your insurance to receive comprehensive cover.
Overseas Medical cover, which includes overseas emergency medical assistance and hospital expenses and personal liability cover is automatically included.
If you don’t have one of these cards, you can purchase a tailored travel insurance plan instead. There are ways to vary the cover should you be heading off on a more adventurous trip, such as a skiing holiday or cruise.
As with any financial product, you want to know exactly what you’ll be getting and what you’ll be covered for when purchasing travel insurance.
Always take time to read the Product Disclosure Statement (PDS), and if you have any questions, ask before you take out the policy. Having travel insurance that doesn’t cover you for what you want or need could be just as costly as having none at all.
Also, the earlier you take out your insurance the earlier you’ll be covered should your plans change unexpectedly. So don’t leave it until the morning you fly out to lock your insurance in. As soon as your dates are concrete and you’re ready, start looking for the travel insurance policy that’s right for you.
Remember to check the Travel Alerts page regularly to see if there are any global events that can affect you and your travel insurance policy
For 24 hour travel insurance emergency assistance, call Cover-More in Australia direct and toll free on +61 2 8907 5641. You can also call from:
Charges apply if calling from a pay phone or a mobile phone.
Things you should know
This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.
Insurance issued and managed by Cover-More Insurance Services Pty Ltd (AFSL 241713, ABN 95 003 114 145) on behalf of the insurer Zurich Australian Insurance Limited (AFSL 232507, ABN 13 000 296 640) for Commonwealth Bank of Australia (‘CBA’) (ABN 48 123 123 124, AFSL 234945). CBA and its related bodies corporate do not issue or guarantee this insurance. It does not represent a deposit with or liability of either CBA or any of its related bodies corporate.
#For eligible credit cards, you will need spend at least $500 in a single transaction on your prepaid travel costs (e.g. the cost of your return overseas travel ticket, prepaid accommodation, cruise, travel or tour) by charging the cost for that trip on your eligible card account before leaving Australia and activate to receive any cover, including Overseas Medical cover. You will also qualify if the $500 worth of prepaid travel costs is redeemed using CommBank Awards points. You will need to provide a copy of the letter/statement/email confirming the redemption.
Terms, conditions, exclusions, (including for pre-existing medical conditions and persons aged 80 years or over for international travel insurance included with an eligible CommBank credit card or persons aged 74 years or over for CBA Travel Insurance) limits and excesses apply.
Before activating the international travel insurance included in your CommBank credit card please read the Credit Card Insurances Product Disclosure Statement and Information Booklet for more information.
If you have activated international travel insurance included in your CommBank credit card on or before 6 February 2024, please refer to the Credit Card Insurances Product Disclosure Statement and Information Booklet – effective 2 June 2023.
Before activating the international travel insurance included in your World Debit Mastercard, please read the World Debit Mastercard insurances Product Disclosure Statement and Information Booklet (PDF) for more information.
Before making a decision on CBA Travel Insurance please read the CBA Travel Insurance Combined Product Disclosure Statement and Financial Services Guide for more information.
We (CBA) do not provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. If you purchase or upgrade a policy, we (CBA) receive a commission which is a percentage of your premium.
