Will Brexit affect Australian Travellers?

With Brexit completed the international climate is much calmer than it may have been a few years back. Still, some people may have questions, so we answer your burning Brexit queries below.

I’ve been under a rock – what is Brexit?

In June 2016, the British people voted to leave the European Union, triggering a two-year withdrawal negotiation period on a range of issues. From movement of travellers and workers, to the border arrangements between Ireland and Northern Ireland, to the import of cheese, there is much to consider when decoupling from 45 years of marriage.

Typically travel insurance only covers for the unexpected – not an event we’ve known about for years – so insurers will not cover Brexit claims.

What might Brexit mean for the exchange rate?

At time of writing, the Pound was nearing a post-referendum high against the Australian Dollar due to speculation the Brexit negotiation date will be pushed back. But in the event of a no-deal Brexit, the unpredictability may send some traders towards more solid currencies, taking the value of the Pound with them.

Does this mean my holiday will be cheaper?

Well, maybe. A lower exchange rate would mean more bang for your buck generally. However, a Brexit of almost every design is predicted to slow down imports and make them more expensive. In January, major companies including McDonalds, Sainsbury’s and M&S all signed a letter to MPs highlighting the consequences to their customers. Their letter suggested that a third of food eaten in the UK comes from the EU, and the increased tariffs and slowed transit expected in a no-deal Brexit will reduce the availability and shelf life of many products in stores.

I’m a dual citizen – is there anything I need to know?

If you’re a British-Australian dual citizen, you may need an additional driving permit to drive around Europe. If you have a current European Health Insurance Card (EHIC), it will no longer be valid in a no-deal Brexit.

Dual citizens of Australia and the UK may find that they are no longer eligible for free healthcare throughout Ireland and mainland Europe, so it’s important to make sure you’re covered for the full duration of your trip.

If you’re already travelling and find yourself without cover, look into ‘Already Overseas Travel Insurance’, offered by just a handful of brands including 1Cover, DUinsure and TID.

These products often have age and waiting limits so familiarise yourself with the terms and conditions and any exclusions that apply.

Get to know the fine print

Going on any holiday without travel insurance is not a risk worth taking and keeping yourself informed is the best way to stay ahead of this Brexit madness. Follow your airline’s social media pages, make sure your contact details are up-to-date with your booking, and subscribe to updates from the Smartraveller website.

It is also more important than ever to read your Product Disclosure Statement carefully and be aware of exactly what you’re covered for in the event of delays.