In insurance, a known event is an incident that has been reported by the media or government, e.g. a planned pilot strike or weather warning. If you buy travel insurance after these incidents become known events, you most likely won't be covered for any related claims.
What's an excess?
An excess is the out-of-pocket expense you'll have to pay if you need to make a claim on your travel insurance policy. Depending on how risk-averse you are, you can opt for a higher excess, which will mean lower premiums (policy cost), but this might mean that smaller claims are not worth it.
Are there age restrictions on travel insurance?
Most Australian insurers will have an age limit for seniors which can vary from 65 onwards. Those that do cover all ages often have limits on trip durations and exclusions on pre-existing conditions.
Most policies will cover kids for free if they're travelling with the parent or guardian listed on the Certificate of Insurance. You usually need to be under 21 to be eligible as a dependent, though this varies between brands.
What's the difference between standalone travel insurance and complimentary credit card travel insurance?
Complimentary credit card travel insurance often comes with more conditions and exclusions than a standalone policy. For example, you might have to pay for a certain percentage of your trip using your credit card. You should always read the Product Disclosure Statement (PDS) for the fine print regarding the excesses you will have to pay, the benefit limits, the maximum trip duration and which pre-existing medical conditions are automatically excluded.
If you find the few dollars you save isn't worth the risk of being underinsured, consider taking out a standalone policy instead.
Will travel insurance cover me for my pre-existing medical condition?
Depending on your condition and the insurer, you might be automatically covered for free, you may have to pay more for a policy, or you might not be covered at all. Either way, be sure to let your insurer know about your pre-existing conditions when you apply. Otherwise, any related claims you make are likely to be denied. Back to top
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