visit raa.com.au
Almost one in four overseas travellers don’t purchase an insurance policy before take-off – and those who do are often leaving it to the last minute – prompting an RAA Travel reminder about the hefty price travellers could pay.
A recent RAA survey of South Australian travellers showed 23% didn’t purchase an insurance policy before heading overseas – meaning they were either uninsured or relying on complimentary forms of cover, such as insurance associated with credit cards.
Further, those who do take out insurance are generally waiting until closer to their holiday, rather than at the time of booking.
According to RAA Travel insurance provider Tokio Marine, the number who wait until within five days of travel has doubled since 2022, while those who purchase at least a month in advance has dropped by 50%.
Waiting until shortly before take-off to take out an insurance policy means travellers’ expensive holiday plans may be exposed if something goes wrong before they purchase the policy.
It also comes as new research from Finder shows 1 in 10 Australians have been robbed while away on holiday.
RAA Travel General Manager Gina Norman encouraged all holidaymakers to consider what level of insurance cover is appropriate for their trip.
“Booking your dream holiday is a big financial investment and people spend thousands of dollars planning and booking their perfect trip,” Ms Norman said.
“That’s why we encourage all travellers to consider how they’re protecting their investment as soon as they outlay money.
“If you leave your insurance until the last minute, there may be a period of time when you’re at risk of being out of pocket if something unexpected happens, such as a medical emergency, that prevents you from going on your trip.
“If you are looking to take out insurance, levels of cover can vary so always read the fine print in detail, to ensure you understand what is included before your trip.
“Less than one in five travellers spend time looking at what their travel insurance policy does or doesn’t cover, yet it is so important to give you peace of mind before you head off.
“Check that the policy covers all the activities you plan to do while you’re away – such as snow-skiing, scuba diving or driving in a foreign country.
“Other considerations include coverage for flight cancellations, lost luggage, public liability, loss of income and travelling while pregnant.”