Health & Protection in Melbourne
For young and skilled expats, Melbourne is the place to be. But to enjoy all the experiences that Melbourne has to offer, you have to give yourself the proper safety blanket of insurance protection so you can enjoy the expat life in Melbourne to the fullest. If you’re planning on moving to Melbourne, let this guide you on the basics of insurance and your available insurance options.
Insurance is not a luxury. It’s a necessity. In some countries, expats are required to purchase a travel or private medical insurance as a requirement for entry. There are also destinations that still recommend expats to get their private plans to supplement any public-sponsored coverage. These underscore the importance of protection against loss of income, medical expenses, property damage and other unforeseeable events while you’re living abroad.
Getting Private Insurance
There are various types of insurance that cover different aspects of your life. Insurers provide protection for your life, medical expenses, property and car, and expenses incurred while you’re travelling. Knowing the purpose of each insurance type is necessary before purchasing a plan.
Residents in Melbourne and the rest of Australia are entitled to two national public healthcare insurance: the Medicare and the Pharmaceutical Benefits Scheme (PBS). If you hold an Australian permanent visa, you will receive free treatment in a public hospital and discounted costs on out-patient services. Citizens of some countries, such as Finland and Ireland, holding temporary visas are also entitled to this public health cover. All Medicare members are eligible for discounted medicines under the PBS. If you don’t qualify under the public healthcare system, you can opt for international private medical insurance plans.
Under laws in the state of Victoria, part of your car registration fee goes to the Transport Accident Charge (or TAC Premium) that will pay for the treatment of people injured in accidents. This doesn’t include payment for damage to vehicles so it’s advisable that you secure a third-party property insurance.
A property insurance is not required, but it’s highly recommended when you move to Victoria state. There are home insurance plans that cover the cost of damage or destruction on your home or and permanent fixtures, contents insurance that protects against damage or loss of personal belongings, and landlord insurance that offer protection against property damage, loss of rent and other landlord-specific needs.
In Melbourne, you’d find a long list of companies that offer life and travel insurance plans. Most insurers provide all types of plans – life, medical, property, car and travel. Make sure you choose the right insurer that not only provides top-notch products but also has a reliable customer service.
Local Insurance
If you don’t qualify for the national public healthcare insurance (and even if you do), you may purchase private insurance plans. You can opt for a hospital cover, a treatment cover (or an extras cover), or an ambulance cover. It’s advisable that you ask your insurance specialist about the services your plan covers in full because some companies don’t cover the entire costs of hospitalisation and surgery.
A private health insurance is voluntary in the state of Victoria, as well as other types of insurance – life, property, third-party liability for car owners and travel insurance. Nevertheless, protection will help you protect your finances and ensure your peace of mind while living in a foreign country.
You have a wide range of choices when it comes to premier insurance companies. Feel free to seek the assistance of an insurance broker to make the job of insurance hunting a lot easier. Compare quotes features and customer service.
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