NIB Travel Insurance. What’s on offer and how does it work?
Travel insurance is an important part of planning an international or domestic trip as travel doesn’t always go smoothly. An insurance policy can provide...
Medibank travel insurance. What’s on offer and how does it work?
When the unexpected happens abroad, the out pocket expenses can sky-rocket if you don’t take out an adequate travel insurance policy. Since COVID-19, the demand for travel insurance policies in Australia has grown 15% for domestic trips and 65% for international trips.¹
Medibank, an Australian insurance provider offers a range of travel insurance policies for customers travelling all over the world. We’ll introduce you to the packages on offer and how they work.
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What is travel insurance with Medibank
Medibank travel insurance is designed to give policyholders cover for unexpected events when they are travelling. Travel insurance is always recommended and sometimes even mandated to have to visit some destinations overseas.²
Medibank travel insurance package(s)
Medibank offers travel insurance packages for domestic travel around Australia and for travel overseas. We’ll briefly discuss each option.
Medibank domestic travel policy³
Taking out domestic travel insurance covers you for single trips you take anywhere across Australia. One of the key differences between a domestic policy and international policy is you don’t get medical or hospital cover with this type of policy. You will be covered for COVID-19 impacts, travel cancellation, Rental car excess and luggage or personal effects.
Medibank international travel policies
There are three types of policies available for international travel.
Medibank medical only²
If you aren’t looking for all the bells or whistles but want some peace of mind in case of medical emergencies, this policy is designed to only cover overseas medical and hospital costs when abroad.
Medibank comprehensive²
Comprehensive insurance is the most popular option to choose when travelling abroad as it covers all types of unexpected situations including medical emergencies, travel cancellations, lost or stolen personal effects and luggage delays to name a few.
Multi-annual trip²
If you are someone who knows you’ll be taking multiple overseas trips during a 12 month period, then taking out muti-annual trip could be a better option than a single policy. You can choose to take out cover for trip lengths up to 15, 30 or 60 days each. This policy is only available as comprehensive cover.
On top of these policies, you can opt to add a range of packs for extra cover for different situations such as²:
- Extra luggage
- Moped and Motorbike
- Cruise
- Skiing or snowboarding
Adding any of these onto your policy will add an extra premium.
Who administers travel insurance on behalf of Medibank
The overarching issuer and underwriter of this product is Zurich Australian Insurance Limited. However, Travel Insurance Partners is who administers all travel insurance policies in association with Medibank.⁴
What are the main benefits of travel insurance with Medibank
Apart from peace of mind when travelling domestically or abroad, taking out Medibank travel insurance comes with these main benefits²:
- Existing members can get 15% off
- Children under 21 are covered free on a single policy
- 24 hour emergency assistance
- 21 day cooling off period
- Included COVID-19 cover
- Return to home cover
These are on top of your included policy benefits which vary depending on which policy you choose.
Types of coverage offered by Medibank travel insurance
On that note, let’s take you through a breakdown of what you’ll be covered for and for how much for each policy type. We’ll compare the domestic, overseas medical only and the international comprehensive policies.
| Benefit* | Domestic limits⁴ | Overseas Medical only limits⁴ | Comprehensive limits⁴ |
|---|---|---|---|
| Overseas Medical and Hospital | - | Unlimited | Unlimited |
| Dental assistance | - | $2,000 | $2,000 |
| Additional expenses (Emergency accommodation & transport) | $10,000 | Unlimited | Unlimited |
| Trip Cancellations | Unlimited | - | Unlimited |
| Luggage and personal effects | $8,000 | - | $15,000 |
| Travel Delay | $2,000 | - | $2,000 |
| Travel documents/Credit cards | - | - | $5,000 |
| Stolen cash | - | - | $250 |
| Rental car excess | $5,000 | - | $6,000 |
| Loss of income | $2,000 | - | $10,00 |
| Accidental Death | $10,000 | - | $25,000 |
| Personal liability | $5 million | $5 million | $5 million |
*Limit amounts valid as of 29th October 2023
Within each of the above benefits is a breakdown of different items which may or may not be covered, and also may be subject to sub-limits.
Medibank travel insurance main fees
Now to move on to the most important part and learn how much it is to buy international travel insurance with Medibank.
We’ll do an example quote for a single policy for a person aged 30 covering a trip to all of Europe for 14 days.⁵
| Excess* | Medibank Medical Only | Comprehensive |
|---|---|---|
| $0 | $107 | $309 |
| $100 | $92 | $231 |
| $250 | $76 | $189 |
*Price valid as of the 29th October 2023
The price will vary depending on your destination, how old you are, how long your trip is and if you need to add extra cover for different circumstances.
What’s not covered under this travel insurance
If you do choose to take out this policy, Medibank will not cover you from⁴:
- Travel delays caused by mechanical delays or strike by travel provider
- Acts of terrorism
- Failure to take reasonable care to avoid event from happening
- Air travel taken on an unlicensed provider
- Declared or undeclared War in a destination
- Radioactive or biological contamination
- Illegal acts
You should always check the Product Disclosure Statement (PDS) or the policy terms before taking out any insurance policy to check it fits your needs.
Eligibility for Medibank travel insurance
To be eligible to take out Medibank Travel insurance, all travellers must currently live in Australia and hold a valid Australian Medicare card or have an eligible visa for living, working, or studying in Australia.⁶ There may be other eligibility requirements if you have a pre-existing condition that you need covered.
How to get travel insurance with Medibank
You can get a quote or buy your policy online for Medibank travel insurance. You can also visit a Medibank store to discuss the options.⁷
Making a claim with Medibank travel insurance
If you do take out a policy with Medibank and need to make a claim, you can submit a claim online by:
- Visiting the Medibank claims portal here
- Filling out the relevant sections
- Uploading the supporting documents (like receipts)
- Submit the claim
You can also download a claims form and post it to the Medibank Travel Insurance Team within 60 days of an event happening.⁸
A word on Medibank travel insurance and COVID-19
If you contract or are impacted by COVID-19 when travelling, your Medibank international travel insurance will cover the out of pocket expenses. This will be linked with your overseas medical and hospital benefit limit. You may also be covered under other benefits in your policy such as additional expenses or cancellations. You will not be covered if you travel to a destination labelled by Smarttraveller advice as “Do not travel”.⁴
Additional things to keep in mind
When obtaining a Medibank Travel Insurance quote, picking your destinations are important. Although many times, one primary destination is easy enough, Medibank stipulates some rules when you plan to spend more than 20% of your time in the Americas or Africa.
In this case you must select "Anywhere in the world" or "Worldwide” plus adding “Americas or Africa '' as your destinations. You can also choose to specify a country in these regions, regardless of your other destinations.²
Contacting Medibank
If you need to contact Medibank for anything travel insurance related, you can:
- Call 1300 362 544 within Australia
- Call +61 2 8907 5020 from overseas
You can also visit a Medibank branch if you are in Australia.
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Sources:
- Business mag Travel insurance trends
- Medibank international travel insurance
- Medibank Domestic insurance
- Medibank PDS
- Medibank quote
- Medibank eligibility
- Medibank FAQs
- Medibank Claims
Sources checked on: 29th October 2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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