MoneySmart
(ASIC)

Our  Australians and travel insurance infographic explains why Australians travel, where they go, what is covered and isn’t covered by travel insurance and how to get the best policy for you.

Oh the places we go!

Who travels?⁽¹⁾

4 in 10 people have travelled outside Australia in the last 12 months.

Top 5 destinations⁽²⁾

1. New Zealand
2. Indonesia
3. USA
4. UK
5. Thailand

Why do Aussies travel?⁽¹⁾

• 74% for a holiday
• 18% to visit friends/relatives
• 4% for business
• 3% studying abroad, working holiday/other

Does everyone purchase travel insurance?⁽¹⁾

15% of 18-24 year olds travelled without insurance on their last overseas trip.

Travel insurance – what are you covered for?⁽³⁾

What’s generally covered?

• Medical expenses (personal injury or illness)
• Loss of luggage or personal items
• Disruptions to travel (cancelled flights)
• Theft

What’s not generally covered?⁽⁴⁾

• Illness or injury (caused by pre-existing medical conditions)
• Adventure sport (waterskiing, sky diving)
• Loss or injury (due to terrorism, war, some natural disasters)
• Pregnancy related (some don’t cover over 22 weeks gestation)
• Riding a moped or motorcycle
• Loss or theft of unattended luggage

58% of people do not look at their exclusions⁽¹⁾

Tip:  Always check limits and exclusions before you buy.

Where we get our travel insurance⁽¹⁾

• 31% direct from an insurer
• 19% through a travel agent
• 20% through a credit card

Remember that credit card travel insurance:

• may need to be activated before you travel
• may not cover family members
• may only cover the trip you have paid for on the card
• may only cover overseas travel

Things to check when buying travel insurance

• What will the policy cost me? (premium and excess)
• What’s covered and what’s not?
• Does it cover me for activities I plan to do?
• Does it cover my current medical conditions?
• What proof do I need to make a claim? (receipts or police report)
• What’s the claim limit? (on individual items and whole claim)

Tip:  Always read the terms and conditions of your policy.

To get the right cover for you see our top travel insurance tips.

Sources:

1. Survey of Australians’ Travel Insurance Behaviour by Quantum Market Research for the Insurance Council of Australia and Department of Foreign Affairs and Trade, August 2016. Online survey of 1,025 Australians age 18+ years who had travelled overseas in the last 12 months.
2. 3401.0 – Overseas Arrivals and Departures, Australia, Jun 2016, Australian Bureau of Statistics.
3. Always check your Product Disclosure Statement (PDS) to know exactly what you’re covered for and what’s excluded.
4. You may be able to get extra coverage for an additional premium.