Looking for travel insurance on a budget?
Planning a trip can be exciting, but not when your travel insurance breaks the bank. Travel insurance covers unforeseen events like medical or trip cancellation. If you are travelling on a budget and need travel insurance, we discuss some options.
Low-cost Travel Insurance Options
Travel Insurance Hub compare budget-friendly travel insurance options to keep you covered while being cost-conscious. Whether you’re looking for a one-year travel insurance plan with essential medical coverage or a multi-trip policy for frequent travellers.
All policies include 24/7 emergency assistance through Global Assist to support you whenever you need it.
Why Consider Travel Insurance?
Travel insurance provides a financial safety net for several common travel problems. Here are some key benefits:
- Medical Expenses and Assistance: Medical emergencies abroad can be costly, particularly in regions like North America. Travel insurance may cover overseas emergency medical expenses, hospitalization, and provide 24/7 access to an emergency assistance team. This could include coverage for doctor’s visits, surgery, or emergency medical evacuation and transport.
- Luggage cover: If your luggage is delayed or lost there may be cover available under the Essentials and Comprehensive policies.
- Travel Delay and Trip Cancellation: Unexpected events like flight cancellations or natural disasters can disrupt your travel plans. Travel insurance can reimburse you for non-refundable expenses like flights, accommodations, and tours.
- Rental Vehicle Insurance Excess: If you plan to rent a car during your trip, this coverage can help cover excess costs in case of accidental damage to the rental vehicle.
Types of Budget-Friendly Travel Insurance
Medical Only Travel Insurance
This plan provides medical-only coverage that can be selected for up to a full year, offering emergency medical assistance and overseas hospital care without paying for extra benefits you may not need if you are travelling light.
Short-term medical only travel insurance for cost effective trips
For budget-conscious travelers, a Medical Only policy may provide the coverage you need to handle emergencies without the extra cost. It covers medical, hospital, and evacuation expenses, making it ideal for extended travellers on short overseas trips.
Key points to note about Medical Only cover:
- It is the most affordable type of travel insurance.
- It is suitable for travellers who do not require pre-trip cancellation cover or luggage cover.
- It does not include coverage for trip cancellation, lost luggage, or other non-medical expenses, it only includes cover for Medical such as overseas medical costs and transport.
Medical Only Cover for Cruising
Medical Only cover is available for domestic cruises, also known as an ‘Australian Waters’ cruise. If you require travel insurance to provide cover for medical cover whilst cruising, including cover to see the ship’s medical doctor or transport from the cruise ship to a mainland hospital.
Budget Multi-Trip Travel Insurance
If you travel often within a year, the Annual Multi-Trip may be suitable if you are on a budget. Annual Multi-Trip can cover multiple drips of a duration of 31 days, 45 days, 62 days or 93 days within a calendar year, and can save travellers money rather than purchasing multiple single trip policies.
For travellers of 81 years of age or over, the Annual Multi-Trip can cover 31 day period or 45 day period.
You can also get Medical Only, Essentials, and Comprehensive Annual Multi-Trips. The Annual Multi-Trip also comes with automatic 21-day snow sports cover.
Optional Extras
For budget travelers wanting a bit more coverage, optional extras include:
- Snow Sports Cover: For those participating in winter sports like skiing or snowboarding.
- Cruise Cover: Ensures adequate coverage during cruises.
Choosing the Right Level of Coverage
Travel insurance can be tailored to your specific needs and budget. Here’s a simple breakdown of the common types of coverage:
- Medical Only: Provides essential medical coverage, including emergency medical expenses, hospitalization, and evacuation. This is the most budget-friendly option.
- Essentials: This level typically includes Medical Only benefits plus additional coverage for lost luggage, personal liability, and some trip cancellation coverage.
- Comprehensive: The highest level of cover available, suitable for travellers who have high prepaid travel arrangement costs, with $20,000 allotted per traveller.
Comprehensive: Offers the most extensive coverage, with higher benefit limits than the Essentials policy, particularly for luggage cover and trip-curtailment cover of $20,000 per listed traveller.
Frequently Asked Questions (FAQ)
Below we answer some frequently asked questions related to low-cost travel insurance.
What does budget travel insurance cover?
Our budget travel insurance focuses on essential medical coverage. It’s a cost-effective choice for travelers who prioritize emergency medical care and assistance.
Is there 24/7 emergency assistance?
Yes, with Global Assist 24/7 emergency assistance, customer support is available worldwide.
Can I choose a multi-trip policy suitable for my budget?
Absolutely. Depending on your budget, there are three types of Annual Multi-Trip policy available.
Is trip cancellation cover included if I am on a budget?
If you require trip cancellation cover and you are on a budget, the Essentials policy may provide cover of up to $10,000 for trip-curtailment and pre-trip cancellation.
Can I extend my policy if I decide to travel longer?
Yes, policy extensions are available if there are no claims made, and health conditions remain unchanged.
Get a quote today!
Travel insurance is an important consideration for any traveller, even those on a tight budget. By choosing a policy with the right level of coverage, you can protect yourself from unexpected costs and travel with peace of mind.
Get a quick quote today with Travel Insurance Hub and secure travel insurance for your next adventure!