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How to save $1,300 when travelling


A holiday bed overseas is 44 times more expensive on average than a travel insurance policy, according to new research by Finder.

 

Finder analysed the cost of a hospital bed against a travel insurance policy for a one-week trip in July and found a stark price difference between the two.

 

 

In New Zealand, travellers would pay $732 per night on average for a hospital bed – 80 times the average daily cost of travel insurance.

 

In the United States, visitors would be required to fork out a staggering $1,279 on average for a one-night stay in hospital – 45 times the daily price of a policy.

 

In 6 of the top 10 destinations, travellers would need to fork up more for a hospital bed than they would for an Airbnb stay.

 

That contrast is greatest in Singapore, where a hospital bed costs 13 times more than an Airbnb rental per night on average.

 

Graham Cooke, head of consumer research at Finder, said skipping travel insurance could come back to bite you.

 

“Healthcare costs overseas will cost you an arm and a leg, which is the last thing you want to be worrying about if something goes wrong.

 

“A basic insurance policy on the other hand comes in between $10 to $20 per day, and you can reduce this cost by increasing your excess if you like.

 

“It's always a good idea to take out insurance as soon as you book your trip. That way, if something happens – for example, if you catch COVID – you'll be covered.

 

“If you take out a policy after something happens, your claim will be rejected,” Cooke said.

 

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Published: 13 July 2022

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