Why you must make sure you get traveller’s insurance

Some Australian travellers need to do more homework before booking and leaving for their dream holiday — it’s a mistake that can cost them dearly.

Complacent jetsetters are leaving themselves vulnerable by failing to organise their travel insurance at the time of booking their holiday.

Many travellers lock in their travel insurance at the last moment, sometimes just days before they leave, and have nothing to fall back on if something goes wrong before they sign up.

Financial comparison website Finder’ analysis found that 39 per cent of travellers who used its site to book travel insurance did so at the eleventh hour.

• The best way to take money overseas

• Get rich for retirement with these super hacks

About two in five book their insurance up to just two weeks before travelling.

Regular overseas traveller Leon Breakenridge, 31, is heading to Europe on his third overseas trip for the year, travelling for three weeks in August.

He expects his trip will cost him $5000 but says he might not bother with traveller’s insurance.

“I usually don’t take it out if it’s for short trips because I take a gamble, or if I’m not doing anything adventurous I don’t get it,” Mr Breakenridge said.

“If it do get insurance it’s normally only for health purposes or hospital cover.”

Leon Breakenridge has an overseas trip planned to Europe in August but he has no travel insurance and only buys it sometimes depending where he is travelling to. Picture: David Swift.

Finder spokeswoman Kate Browne warned travellers that travelling without insurance was a big risk and she said jetsetters should book insurance cover as soon as they began making trip bookings, including flights and accommodation.

“What many Aussies don’t realise is that your travel insurance will cover you from the day you purchase it,” she said.

“A lot can go wrong between the time you book your holiday and when you actually leave.”

Ms Browne said travellers should not rule out unforeseen circumstances happening before they go on holiday.

“A large number of the claims travel insurers receive are from cancellations,” Ms Browne said.

Understandinsurance.com.au spokeswoman Lisa Kable said “purchasing travel insurance should coincide with finalising and paying for a trip”.

“It’s at this time that the big ticket items are paid for — flights, accommodation, tours and events,” she said.

“Buying travel insurance at the time of trip payment gives travellers the protection and peace of mind of cancellation cover for unforeseen circumstances.”

Ms Kable said cancellation cover was included in most travel insurance policies and helped protect travellers if they had to cancel their trip due to unforeseen circumstances before leaving.

She said people who relied on travel insurance that came with a credit card should understand when it activated and what it covered because they might get caught out.

@sophieelsworth

Originally published as Why you must make sure you get traveller’s insurance