Immigrants who newly got into Australia would surely need insurance to be on a safer side. In this blog, we will disclose how to apply for Australian insurance for Immigrants like yourself.
Insurance is simply defined or known as a legal agreement between an individual (the policyholder) and a company (the insurer) where the former pays the latter some money according to their agreement, and this will act as a financial protection for the policyholder in case of unfortunate future circumstances like illness, accident, loss of life, or property damage.
Australian immigrants need to have insurance to protect them against any unforeseen situation. Insurance types such as health, life, travel, home content, etc, are all necessary to have as an immigrant moving to Australia.
Types Of Insurance That An Immigrant Might Need In Australia
Immigrants in Australia might fall sick when they arrive in Australia, and they may not be able to afford the country’s healthcare without the subsidized effect of health insurance. In this case, health insurance will be the person’s only saving grace.
Apart from health insurance, which is the primary insurance needed by Immigrants in Australia as per “health is wealth,” there are many other insurance-type that every immigrant should consider, and they are listed below:
Car Insurance
If you as an immigrant own a car or drive a car frequently in Australia, then getting car insurance should be something you ought to put in your important to-do list. This will give you financial protection to mitigate any loss that might arise from being involved in a car accident that could destroy the car beyond repair.
Home and Contents Insurance
Immigrants often own or rent houses or accommodations and apartments to provide shelter for themselves when they arrive in Australia.
As an immigrant, you could have valuables like expensive furniture, and gadgets in your Australian home, and this is where the home and contents insurance comes to save the day as it protects you against unfortunate circumstances like theft, or fire disaster.
Travel Insurance
King, one of our content creators on this blog, recently moved to Australia to study software engineering at the University of Melbourne. However, as someone who already works remotely and loves traveling, he is frequently traveling out of Australia to his home country and other countries.
If you’re an immigrant like King, then Travel Insurance should be included in your insurance policies as an immigrant in Australia as this will help mitigate losses like loss of luggages, trip cancellation, medical emergencies, and accidental injuries incurred while traveling to and fro.
Life Insurance
For immigrants who have moved to Australia with their families, life insurance is a must. It offers financial protection to your children in the unfortunate event of your untimely death.
Income Protection Insurance
The importance of insurance for immigrants can never be overemphasized.
Take for instance, you could get some form of financial support if you fall sick or can’t work to earn income due to underlying health issues.
Total and Permanent Disability Insurance (TPD)
Just like income protection insurance, this is another insurance-type or policy that an immigrant should put into consideration.
The total and permanent disability (TPD) provides financial aid to the subscriber (policy holder) in case he becomes disabled and can not work to earn a living.
Public Liability Insurance For Business Owners
If you’re looking to start a business or own one in Australia as an immigrant, then signing up for the public liability insurance for business owners should be a priority. This insurance-type gives you financial protection when a third party e.g a customer gets injured or their property is damaged in your business premises.
Workers Compensation Insurance For Employers
An Immigrant that is an employer of labor in Australia would need this insurance as it helps to ensure compliance with legal obligation, and also protect employers from financial losses from workplace accidents.
Pet Insurance
Lovers of pets who recently moved to Australia and looking to apply for insurance should consider this insurance-type too.
Veterinary services can be very expensive in Australia. However, when you have pet insurance you wouldn’t need to spend much to take care of your pets in case of illness, injury, or accident.
Landlord Insurance
Immigrants in Australia who have gone to own properties, especially rental properties in Australia must sign up for landlord Insurance.
How To Apply For Australia Insurance For Immigrants- Insurance In Australia
Now, we are going to show you the step-by-step guide to apply for all the major insurance-type needed by Immigrants in Australia.
Health Insurance
Medicare is Australia’s public healthcare system, covering citizens and permanent residents. Some temporary residents from countries with Reciprocal Health Care Agreements (RHCA) can also access Medicare.
How to Apply for Medicare
1. Check Eligibility: If you’re a permanent resident or from a country with RHCA (e.g., UK, New Zealand, Italy), you may qualify for Medicare.
2. Gather Required Documents:
Passport and visa.
Proof of residence (utility bill or lease agreement).
identity documents (birth certificate, national ID).
3. Apply:
Online via the MyGov portal, or
In-person at a Medicare Service Centre.
4. Wait for Processing: It usually takes 3-4 weeks to receive your Medicare card.
Private Health Insurance (For Temporary Residents or Those Seeking Extra Coverage)
Private health insurance is essential if you’re not eligible for Medicare or want additional coverage (such as private hospital care or dental).
How to Apply for Private Health Insurance:
1. Research Providers: Use comparison sites like iSelect or Compare the Market to find providers such as Bupa, Medibank, or HCF.
2. Select Coverage:
Hospital Cover: For private hospital treatments.
Extras Cover: For dental, optical, and physiotherapy services.
3. Submit Application:
Apply online via the provider’s website.
Provide your personal details, visa information, and payment method.
4. Wait for Confirmation: You’ll receive policy documents outlining coverage and start dates.
Life Insurance
Life insurance helps protect your family financially in the event of your death. It’s an essential consideration for immigrants, particularly if you have dependents.
How to Apply for Life Insurance:
1. Choose an Insurance Provider: Popular life insurers include AIA Australia, MLC Life Insurance, and Zurich.
2. Get a Quote: Include details such as age, health status, and coverage amount.
3. Apply:
Complete the application online or over the phone.
Provide details like personal information, medical history, and financial details.
4. Undergo Medical Assessment: Some insurers require a medical exam or health check.
5. Receive Policy Documents: Once approved, you’ll get a contract outlining the terms of your policy.
Car Insurance
Car insurance is compulsory if you own or drive a vehicle in Australia. There are three main types of car insurance:
How to Apply for Car Insurance:
1. Choose a Provider: Popular providers include NRMA, Allianz, and RACV.
2. Get a Quote: Use your vehicle details (make, model, year) to get a price estimate.
3. Apply:
Provide your driver’s license, visa details, and car registration.
Submit the application online or over the phone
.
4. Wait for Confirmation: Coverage usually starts immediately or before you make your first payment.
