With more than 10 million Australians expected to travel overseas this year, securing travel insurance at the same time as booking a trip could provide valuable peace of mind. According to data from nib Travel, 15 to 20 per cent of claims each year are due to unexpected travel disruptions, highlighting the importance of being covered from the outset.
Early insurance offers broader coverage
Dylan Wilkinson, general manager international and partnerships at nib Travel, emphasises the financial benefits of booking insurance early, whether through a travel agent or directly on the nib Travel website.
“Many travellers don’t realise how important it is to secure travel insurance early,” Wilkinson said. “By purchasing insurance with cancellation cover when you book your travel, you could be covered for situations that may arise before your trip starts — from job loss to health emergencies. If you wait until closer to departure, you could be left uncovered for key cancellation events, potentially leaving you out of pocket.”
Unexpected events you might be covered for
Depending on the level of cover chosen, nib Travel insurance could provide coverage for a range of unexpected events, including:
- Sudden job loss: If your role is made redundant by your employer in Australia before your trip
- Cancelled leave: If your pre-approved leave is cancelled by your employer before your departure
- Pre-trip medical emergency: If you, your travelling companion, or a close relative or business partner in Australia or New Zealand becomes seriously ill, injured, or dies
- Natural disasters: If your home or business in Australia is severely damaged by a natural disaster within 72 hours of departure, or if a natural disaster occurs at your destination before you leave
- Jury duty or court involvement: If a travelling companion is required for jury duty or must provide evidence in court
Wilkinson encourages travellers to carefully consider their insurance needs early in the booking process to avoid potential financial risks.
