The Importance of Thoroughly Researching Travel Insurance Policies for Backpackers
When planning a backpacking trip, it’s crucial not to rush into the first travel insurance policy that catches your eye. Instead, take the time to explore the market thoroughly to understand the various options available and their corresponding costs. This is because the best policy for one backpacker might not be the same for another, based on factors such as demographics, medical history, and travel plans. To find the most cost-effective policy, get several online quotes.
Key Elements to Consider When Choosing a Travel Insurance Policy
While tailoring your research to your unique circumstances is important, there are some aspects that most backpackers should evaluate:
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Adventurous Activities: Some policies or additional packages cover expenses incurred during riskier activities during travel. Activities typically covered by standard travel plans, like snorkeling or hiking, may only be included as optional extras that come at an extra cost.
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Travel Destinations: When taking out a policy, you must list all countries you plan to travel to. If you visit a country not listed, claims could be denied. If you decide to travel to a new country while on your trip, inform your insurance provider and be prepared for additional costs. If your travel itinerary is unpredictable, consider a ‘worldwide’ cover that insures you for all covered countries.
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Trip Duration and Extensions: If your travel period exceeds your planned duration, you can usually extend your backpacker travel insurance. Some providers allow you to keep the same coverage, while others may require you to take out a new policy and pay an additional premium.
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Multi-trip Policies: If you know you’ll be traveling multiple times within the next 12 months with consistent travel habits, a multi-trip policy could be the most cost-effective option. This coverage is ideal if each trip won’t exceed duration limits (usually up to 60 or 90 days).
- Pre-existing Medical Conditions: Some medical conditions are automatically covered by travel insurance, while others require approval after a medical assessment. Chronic or ongoing illnesses may have specific coverage conditions outlined in the policy’s Product Disclosure Statement (PDS).
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Various insurance providers offer travel insurance policies with specific features, such as:
- Unlimited, 24/7 Emergency Assistance.
- Unlimited trip cancellation coverage and up to $50,000 for trip disruption.
- A 25-day cooling-off period, an Australian-based call center, and a 4.6-star product review rating.
- Medical cover, including medical treatment, doctors’ visits, prescribed medication, specialist treatment, and medical transport costs.
- Cancellation coverage, with the amount determined by the customer, and up to $2,500 coverage for trip cancellations, with the option to increase it to unlimited.
