Australia's leading 457 visa resource comparing key services from 457 visa health insurance to bank accounts.
Travel Insurance For 457 Visa Holders
When moving to a country or travelling abroad the risk factor of becoming sick or injured increases exponentially as travellers try new experiences, get exposed to new viruses and germs. This is as true for Australia as other countries worldwide due to the large amount of outdoor activities most tourists participate both in the major cities as well as within the outback.
Many travel insurance providers do not offer coverage for temporary residents, making domestic and international travel difficult. Many people look to travel insurance providers in their home countries with little success, as a policy of this nature stipulates that the holder’s trip must begin and end in their home country.
A select few Australian travel insurance providers are exceptions to this trend. Some provide specific Visitor policies for 457 visa holders and other temporary residents. Others classify visa holders as Australian residents for the purposes of travel insurance and will insure them as usual. It is also common that the same travel insurance policies available to Australian residents are accessible for temporary residents, but for a significantly inflated price.
It is also important to understand the level of coverage required, as some travel insurance providers will offer basic policies to temporary residents, but not comprehensive policies. Compare 457 visa travel insurance with our helpful comparison table.
The table is due to be updated in November 2013 based on the most recent data as some existing travel funds now no longer cater for 457 visa holders. It’s recommended that prior to purchasing your cover that you check online review sites such as product review and see what past policy holders have to say about policies and claims made through the agent. Its also critical to understand that many Australian travel insurance companies are underwritten by a parent company (which is often offshore). Understanding their performing and how they manage customers could also be useful when making your 457 visa travel insurance decisions.
Finally, its important to talk to your accountant about travel insurance taxes such as the GST and if you can claim this amount back. In Australia GST is 10% on any good or service but many temporary visitors can claim this back when departing the country. While this may not seem much for a single travel insurance policy the amounts can add-up so understanding ways you can minimise your tax is recommended for any person considering visiting Australia.
