What you need to know about Cheap Travel Insurance

Everyone should know that travel insurance is a must when on holiday or vacation. Medical emergencies can cost up to $100,000 or more if an evacuation is required. Cancelled plane, cruise or tour tickets can also cost a lot of money and often there is nothing you can do it avoid it. Even theft of baggage can be costly now that more people travel with notebooks and mobile phones.

Sometimes you may not want to pay the cost of travel insurance. For long trips it may actually cost more for insurance than it does for plane fare. This is especially true of backpacking holidays through places like South East Asia or Europe. Also backpackers may not have costly tour packages or luggage to be worried about. The standard comprehensive level of holiday insurance is often a waste for these people.

Many holiday insurance companies offer plans designed for the budget conscience and backpackers. These plans tend to cover general medical expenses such as hospital visits, doctor and surgical fees, dentist fees, and medical evacuation. Sometimes these will also offer minimal cover in other areas such as baggage, credit card and document replacement. It is up to you to decide if you want this as it will raise the price.

Some providers in Australia of budget and backpacker travel insurance are: iTrek Travel Insurance, Downunder Insurance, 1Cover Direct Travel Insurance, Insure4Less, and Travel Insurance Direct. Reading travel insurance reviews can help find the best insurance for you.

The excess is another thing to consider. The normal excess is often around $100 but some companies charge a higher excess in order to offer lower price. It is usually best to avoid high excesses as it discourages claiming. However, this tends to not be a problem on backpacker holiday insurance as it usually only covers costly medical expenses where the excess fee is only a fraction of what the bills would be.

Always review the Product Disclosure Statement (PDS) before purchasing a travel insurance policy as levels of cover can have different terms and conditions. A PDS is mandatory in Australia and details all the conditions, exclusions and limits of the policy.