by Mina Martin
27 Feb 2020
One
organised Australian traveller has saved a whopping $1.4 million on overseas
medical bills thanks to his travel insurance policy, which highlights the need
to find the best overseas protection for less before jetting off to a foreign
country.
Allianz
research, conducted by McCrindle, revealed “peace of mind” as the top motivator
of Australian consumers for purchasing travel insurance. The survey of more
than 1,000 Australian travellers also found that two in five people have
experienced the unexpected while on an overseas trip.
Findings
further revealed that assistance for the most commonly claimed conditions, such
as breaking a bone, contracting an infection, or suffering from gastro made
insurance policies work the hardest.
Geoff
Ramin, chief medical officer for Allianz Partners, said Australians sometimes
underestimate how much it pays to be prepared when heading overseas.
“The
cobble-stone streets of Europe may look sensational, but watch out for simple
slips,” Ramin said. “Should the unthinkable happen, being protected from
medical costs as high as $50,000 plus per day is certainly good value.”
The
Allianz research also showed that Australian travellers consider themselves
“prepared” when travelling, yet 26% said they book their travel insurance at
the last minute. Meanwhile, 30% were put off insurance because of cost and only
a small portion were confident in researching and understanding it.
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