The cost of going overseas without travel insurance has soared, with recent claims exceeding $600,000. A legal expert shared what Aussies should know and why skipping cover might be a gamble you're likely to lose.
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00:00Could you afford a $600,000 hospital bill overseas?
00:05New data has revealed the staggering costs Aussies risk without travel insurance,
00:09with the most expensive claim in 2024, topping $672,630 for a stroke in Albania.
00:19Travel law experts recommend choosing your policy carefully.
00:23Check your exclusions and book excursions through Aussie operators if possible.
00:27And if something does go wrong, document incidents thoroughly.
00:31If you know you're dealing through a company based in Australia, usually that company bets
00:39the supplier of the services in the overseas country for their safety records.
00:43So you have much better prospects if you do that.
00:46Firstly, of avoiding any injury at all.
00:48And secondly, of obtaining some compensation.
00:51Medical costs are rising due to global inflation,
00:54with other claims exceeding $360,000 for a collapsed lung in Thailand
01:00and $280,000 for a head injury from a poolside fall.
01:05The most common claims involve injuries in hire cars,
01:09tour vehicles and resort activities.
01:12And the top destinations for Aussie claims are Indonesia at 18%,
01:16the USA at 8%, followed by Thailand and Italy.
01:20Think about safety while you're overseas.
01:22That's something that travellers should do all the time,
01:24because they're in places they're not familiar with.
01:27They should make the effort to familiarise themselves with their environment,
01:31just to make sure that there's a margin of safety they can rely on.
01:35Without cover, travellers could face massive out-of-pocket bills, delays in treatment,
01:40or be forced to crowdfund their way home.
01:43So travel insurance might seem like an extra cost,
01:46until it becomes the most valuable thing you packed.