If you travel regularly on domestic and international services, take out an Annual Frequent Traveller policy.
It covers you (and spouse + dependant kids under 21 when they are travelling with you) for unlimited medical, cancellation, luggage to a limit and up to $4000.00 excess on rental cars. The last alone will save its cost if you only travel within Australia. It also covers a bucketload of other stuff too.
Using LCCs ona regular basis, you would be mad not to have a cover.
Give me a yell if you need one.
Blatant touting, but something that is not well known. PPRuNers get at 20% discount off book value which brings it at $625 for the year.
Best all
EWL