If you’re looking for travel insurance for your next domestic or international holiday, consider the protection offered by Bank of Melbourne travel insurance policies. Although better known for its financial products and services, Bank of Melbourne offers travel insurance underwritten by Allianz Australia in four levels to suit the needs of different travellers.
Bank of Melbourne Travel Insurance is all about ensuring peace of mind. It offers financial protection against everything from lost luggage to overseas medical expenses, allowing you to relax and enjoy your holiday.
Bank of Melbourne travel insurance is not currently available via finder. You can visit their website at www.bankofmelbourne.com.au for more information or compare alternative options available below.
Cancellation fees and lost deposits. This benefit provides cover for cancellation fees and non-refundable deposits that occur when unforeseen circumstances force you to cancel or shorten your trip. For example, if you are made redundant or if a relative dies unexpectedly.
Overseas emergency medical assistance. You will be covered for the cost of overseas emergency medical assistance offered by Allianz Global Assistance when you are sick or injured overseas.
Overseas emergency medical and hospital expenses. If you are sick or injured while overseas, this benefit provides cover for the medical or hospital expenses you incur until you return to Australia.
Dental expenses. You’ll receive cover for the emergency dental expenses you incur while overseas.
Additional expenses. This benefit provides cover for your additional accommodation and travel expenses if you suffer an illness or injury and are medically unfit to travel, or if your travelling companion is deemed medically unfit to travel any further and you need to stay by their side. Cover is also provided for your repatriation to Australia, as well as for a relative to travel to you, stay with you and accompany you home.
Hospital cash allowance. If you’re hospitalised overseas for a continuous period of more than 48 hours, you’ll receive a daily cash benefit of $50.
Accidental death. A lump sum benefit will be paid if you die as the result of an accident on your journey. Cover is also available for your accompanying dependents.
Permanent disability. Bank of Melbourne Travel Insurance offers a lump-sum benefit if you suffer an injury during your trip that leads to permanent disability.
Loss of income. If you suffer an injury during your trip that leads to disability and you are unable to return to work, cover is provided for the resulting loss of income.
Travel documents, credit cards and travellers cheques. This benefit covers you for the loss or theft of travel documents, credit cards and traveller’s cheques.
Theft of cash. This benefit offers reimbursement when cash is stolen from your person.
Luggage and personal effects. Cover for the cost of repairing or replacing lost, stolen or damaged luggage and personal effects is provided under this benefit. Cover is also provided when your luggage and personal effects are delayed by a transport services provider.
Travel delay expenses. You will receive an ongoing benefit if your travel is delayed for more than six consecutive hours by circumstances beyond your control.
Alternative transport expenses. If your pre-booked transport is cancelled, delayed, shortened or diverted, and you need to travel to a special event such as a wedding or conference, this benefit covers the additional travel expenses you incur to ensure that you arrive on time.
Personal liability. Bank of Melbourne Travel Insurance offers cover for your legal liability when you cause bodily injury to someone else or damage their property.
Rental vehicle excess. This benefit provides cover for the rental vehicle insurance excess you are liable to pay if your rental car is stolen, damaged or involved in a collision.
Key Benefits
Comprehensive Plan
Domestic Plan
Essentials Plan
Multi-Trip Plan
Cancellation fees and lost deposit
Unlimited
Unlimited
$10,000
Unlimited
Overseas emergency medical assistance
Unlimited
-
Unlimited
Unlimited
Overseas emergency medical and hospital expenses
Unlimited
-
Unlimited
Unlimited
Dental expenses
$1,000
-
$1,000
$1,000
Additional expenses
$50,000
$25,000
$25,000
$50,000
Hospital cash allowance
$5,000
-
-
$5,000
Accidental death
$25,000
$25,000
-
$25,000
Permanent disability
$25,000
-
-
$25,000
Loss of income
$10,400
-
-
$10,400
Travel documents, credit cards and travellers cheques
$5,000
-
-
$5,000
Theft of cash
$250
$250
-
$250
Luggage and personal effects
$10,000
$10,000
$3,000
$10,000
Luggage and personal effects delay expenses
$500
$500
$250
$500
Travel delay expenses
$2,000
$2,000
$2,000
$2,000
Alternative transport expenses
$5,000
-
-
$5,000
Personal liability
$2.5 million
$2.5 million
$2.5 million
$2.5 million
Rental vehicle excess
$3,000
$3,000
$3,000
$3,000
Table updated: September 2019
Any additional cover?
Snow Pack. If you’re planning a skiing holiday and you’re willing to pay an additional premium, you can add this optional pack to your policy to provide $100,000 of emergency rescue cover. It also covers lost, stolen and damaged snow sport equipment, equipment hire, piste closure, and bad weather and avalanche closure.
Cruise Pack. Available with a comprehensive, domestic or multi-trip plan, this option provides unlimited medical cover while cruising and cover for emergency dental expenses. It also covers ship-to-shore evacuation, cabin confinement, cancelled pre-paid shore excursions, marine rescue diversion, and lost, damaged or delayed formal cruise attire.
Increased Item Limits. By paying an additional premium, you can purchase increased item limits for certain valuables under baggage and personal effects cover, for example mobile phones.
Increased Rental Vehicle Insurance Excess Cover. This option allows you to increase the benefit limit for rental vehicle insurance cover by the amounts the insurer makes available to you.
Increase of Standard Excess. You can reduce your policy premiums by opting to increase the standard excess payable when you make a claim.
What isn’t covered?
Your Bank of Melbourne Travel Insurance claim will not be paid if:
You act recklessly or intentionally in a way that endangers either yourself or the safety of your luggage and personal effects
You don’t take all reasonable steps to minimise your loss as much as possible
It is for consequential loss of any kind
It is caused by any intentional self-inflicted act
It arises because you were under the influence of alcohol or drugs
Your claim is for a loss that you are able to recover from another source. For example through a workers’ compensation scheme
Your claim arises due to the financial insolvency of any airline, transport provider, accommodation provider, tour operator or hotel
It arises because you break the law or breach any government regulation or prohibition
It arises because of the behaviour of someone who enters your accommodation with your consent
It is caused by a government authority confiscating, detaining or destroying anything
It is connected with you riding a motorcycle without you holding a current Australian motorcycle licence or a licence valid for the country you are in
It arises because you engage in manual labour or humanitarian work of any kind
It is caused by any error or omissions in your booking arrangements, or by your failure to obtain a passport or visa
It arises because you are riding or travelling on a motorcycle with a capacity in excess of 250cc
You ignore travel advice or a travel warning from the Australian Government
Your claim arises due to any pre-existing medical condition
You are travelling against medical advice
Your claim is caused by dementia, depression, anxiety or stress
Your claim is related to elective surgery or treatment
Your claim arises because you participate in professional sport of any kind
How can I claim?
It’s important that you notify the insurer of your claim as soon as possible. This can be done by filling out a claim form online or by phoning Bank of Melbourne. This will need to be done within 30 days of cancelling and completing your journey, and you’ll need to provide full details of the circumstances surrounding your claim.
You will also need to provide evidence and documentation to support your claim. This could include police reports, receipts, photographs, proof of ownership, medical reports and doctor’s certificates.
In the event that you require emergency assistance while overseas, you can phone the AGA Assistance emergency hotline 24 hours a day, 365 days a year from anywhere in the world.
Want to know more?
Who issues Bank of Melbourne Travel Insurance?
The insurance is issued by AGA Assistance Australia Pty Ltd.
How can I apply for Bank of Melbourne Travel Insurance cover?
You can apply online, over the phone or by visiting a Bank of Melbourne branch.
Is complimentary travel insurance available on any of Bank of Melbourne credit cards?
Yes. The Amplify Signature and Vertigo Platinum cards both offer six months of complimentary cover, while the Amplify Platinum offers up to three months of complimentary cover.
How much will my Bank of Melbourne Travel Insurance premiums cost?
Your premiums are affected by a range of factors, including where you’re travelling, for how long, the number of people you’re insuring and their age. Other factors that are taken into account include the level of cover you select, any extra options you add to your policy and if you take out cover for any agreed pre-existing conditions.
Is there a cooling-off period?
Yes. There is a 14-day cooling-off period after you take out a policy. During this time, you can cancel cover if you decide it is not right for you and you will receive a full refund of your premium.
Who can purchase Bank of Melbourne Travel Insurance?
This insurance is available to Australian residents who purchase a policy before they commence their journey, and the journey must begin and end in Australia.
Are there any age limits?
Yes. The following age limits apply:
• Comprehensive and Domestic Plans are available to travellers of any age
• The Essentials Plan and Multi-Trip Plan are available to travellers under 75 years old
What is the maximum trip length I can take on a multi-trip policy?
You can choose from a maximum trip length of 15, 30 or 45 days.
Are any sports covered?
Yes. Bank of Melbourne Travel Insurance automatically covers a wide range of sports and adventure activities, including bungee jumping, go-karting, indoor rock climbing and snorkelling. Read the product disclosure statement (PDS) for a full list of covered sports.
How many journeys can I take on a multi-trip plan?
You will receive cover for an unlimited number of journeys during a 12-month period.
Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. When he’s not doing deep dives on data, he is testing the quality of cocktails in his newfound home of New York. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance.
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