Tuesday, June 30, 2015

Why all Aussies should take out travel insurance on holiday

IT WAS supposed to be the trip of a lifetime, instead this Aussie family found themselves with their daughter in the intensive care unit racking up hundreds of thousands of dollars in medical bills. 
Just three days into their US holiday, four year old Freya Connelly became ill. Her parents thought she had contracted a stomach bug and took her to the doctors however it was far more serious with Freya suffering pneumonia and a collapsed lung in what became a life-threatening condition.

The Connelly family’s experience is a reminder to Australian travellers about the importance of investing in travel insurance. Their $180 insurance policy covered the $715,000 bill racked up by Freya’s medical treatment.

“Terrified. That’s the only word I can use to describe [how I was feeling]. Absolutely shell shocked, it’s every parent’s nightmare,” said Stephen Connelly, Freya’s father.
“The hospital approached us about payment pretty much as soon as we got through the emergency doors,” said Joanne, her mother.

The $715,000 breakdown included:

Medical Costs: $704,209.68
Travel Costs related to medical (i.e. flights): $7036.09
Travel Delay: $2822.02
Hospital Cash: $1400

Additional Expenses:

Luggage Charges (due to change in airline): $213.06
For the Connelly family, Freya’s medical bill could have been crippling without travel insurance.
“Travel insurance is imperative. It’s a must have. You’ve got to have it before you go anywhere,” says Stephen.

Comparison website, finder.com.au, says travel insurance is one of the most important things you can take away on holiday and that it’s best to research the right option for you.

“Falling ill or getting injured from an accident can be the most expensive downfall about travelling overseas, which is why it’s so important to consider taking out a travel insurance policy before taking off,” says Michelle Hutchison, Money Expert at finder.com.au.

“Medical expenses overseas can cost tens of thousands of dollars and varies between countries and the seriousness of your illness or injuries.

“Other expenses that could occur as a result of falling ill or due to an accident is missing flights, tours or other travel plans. Travel insurance generally covers for travel delays, return of rental vehicle and resumption of your overseas journey if something happens to you,” she says.

Hutchison says there are many options for choosing cover such as direct travel insurance providers including those who offer an excess eliminator and the complimentary cover offered on your credit cards.

Stories of Aussies getting into trouble overseas is much more common than we think, in fact Allianz Global Assistance (AGA) helped one Aussie every 30 seconds last summer with the number one reason for assistance being medical travel.

Medical costs vary greatly from country to country. For example:

• Gastro in St. Domingo can cost up to $4186.
• A wounded or sore knee in Greece can cost up to $4,899.
• An acute bronchitis in Montreal is $34,763.
• And going to the emergency room in the US could escalate to $73,696.

“While holidays are a good time to explore new tastes and flavours and rediscover your love of sports, they are not risk-free. Indeed, illness, injuries and accidents represented more than 109,552 cases from Australians this summer,” says AGA.

Freya we are all thinking of you and wishing you well......

Article Source:  http://www.news.com.au/travel/travel-advice/why-all-aussies-should-take-out-travel-insurance-on-holiday/story-e6frfqg0-1227314663286

Related Article: http://greatinsuranceworld.blogspot.com/2015/05/do-you-need-travel-insurance.html

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