Travel insurance is something that shouldn't be forgotten when going on holiday. Accidents or illness can be very expensive especially if it requires you to be flown home. If you are on a budget then there are travel insurance plans that will protect you and your family.

We all should know that travel insurance is a must when on holiday or vacation. hospital emergencies can cost up to $100,000 or more if an evacuation is required. Cancellations to plan, cruise or tour tickers can also cost a lot of money and sometimes there is nothing you can do it avoid it. Even loss of baggage can be expensive now that more people travel with laptops and mobile phones.

Travel insurance can be expensive and you may be tempted to skip it for your holiday. For long trips it may actually cost more for insurance than it does for plane fare. This is especially true of backpacking holidays through places like South East Asia or Easter Europe. Also backpackers may not have expensive holiday packages or luggage to be concerned about. The standard comprehensive level of travel insurance is often wasted on these people.

Many travel insurance companies offer plans designed for the budget traveller and backpackers. These plans tend to cover general medical expenses such as hospital stays, doctor and surgical fees, dentist fees, and medical evacuation. Sometimes these will also offer minimal protection in other areas such as luggage, credit card and document replacement. It is up to you to decide if you want this as it will raise the price.

Some providers in Australia of budget and backpacker travel insurance are: iTrek Travel Insurance, Downunder Insurance, 1Cover Direct Travel Insurance, Insure4Less, and Travel Insurance Direct. You should search for travel insurance reviews to help determine the best policy for you.

The excess is another thing to consider. The normal excess tends to be $100 but some providers charge a higher excess to offer you lower premiums. It is usually best to get a policy with a low or zero excess so it does not cost you anything to claim. However, this tends to not be a problem on backpacker travel insurance as it really only covers expensive medical expenses which means that the excess will only be a small percentage of the overall bill.

Since each policy offers a different level of cover with its own terms and conditions it is wise to review the Product Disclosure Statement (PDS). A PDS is mandatory in Australia and details all the conditions, exclusions and limits of the policy.