Looking for the best* value travel insurance policies of 2016? Compare products most popular with our users
Going on a holiday? Looking for the best travel insurance* 2016? You've come to the right place. On this page you'll find the most popular products of 2016*, along with tips on what to look for in a policy, deals, coupons and other travel insurance savings tips. Ready to get a policy now? Fill out the enquiry form at the bottom of the page and start comparing policies. Want to know more about the best travel insurance* 2016? Keep on reading ...
Australian consumers are pretty savvy when it comes to sniffing out a good deal and, judging by the fact you're reading this, you're one of them. One way of getting an idea of what is not only the best travel insurance* but the best* value travel insurance, is by looking at the most popular travel insurance policies on the market. Displayed below are the most popular policies with our users.
*Data based on 13,000+ quote enquiries made through finder.com.au from July 2014 to January 2015. The policies represent those most popular with our users and are indicative of the level of cover the policy provides. This list is not a recommendation or endorsement of a product(s). *The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing travel insurance policies.
Award winning travel insurance 2015
Each year various consumer hand out awards for the best travel insurance* in a number of categories. Below are some of the policies that won best travel insurance 2015.
- Basic cover. InsureandGo One Trip - Bare Essentials policy offers excellent value. With unlimited medical and hospital cover plus $2,000 of cover for luggage and personal effects, it offers affordable cover for travellers on a budget. Similarly, Travel Insuranz Classic is designed to offer cover against essential risks without breaking the bank. Other strong performers in this category were 1Cover’s Basic policy and Budget cover from Worldcare.
- Comprehensive cover. Southern Cross Travel Insurance offers its competitive TravelCare (Single Trip) policy. It features unlimited medical and hospital cover, $25,000 of cover for luggage and personal effects, $50,000 cancellation fees cover and protection against a number of other travel risks. Good2Go’s The Works policy is another strong performer in this category, offering both a broad level of cover and also some of the cheapest premiums in the class.
- Annual travel insurance. Good2Go Frequent Traveller Insurance and Travel Insurance Cover Annual Multi Trip Insurance are worth considering. Both have been recommended by CHOICE as two of the best* options for Australian consumers.
When you’re in the market for a travel insurance policy, consider the following tips to help you find the best* cover for your needs. Ask yourself:
- What do I need? Ask yourself what you want out of your policy - do you want cover for an extensive range of risks or do you just want to be protected in case the worst happens? Do you want a single policy or an annual multi-trip policy? Also consider the region you will be travelling to and whether you will need extra cover for any activities such as adventure sports.
- Have I compare a range of policies? Don’t be sucked in by slick marketing campaigns and simply sign up for the first travel insurance policy you come across. It’s a piece of cake to use finder.com.au’s resources to compare the features of different policies, so make sure you do exactly that.
- Have I read the fine print? The technical jargon contained in insurance policy product disclosure statements can be confusing and often downright boring, but it’s important to examine each policy closely so that you know exactly what is and isn’t covered. Look at the benefits, features, limits and exclusions of each policy so that you don’t suffer any nasty surprises in the future.
- How many quotes do I need? It’s quick and easy to obtain quotes from insurers online, so see how much a range of companies will charge you for cover. Don’t look solely at cost, however, as you’ll also need to take into account cover features and limits to determine a policy’s true value.
Unfortunately, there are certain traps and pitfalls you need to avoid when shopping for travel insurance. Here’s what you need to do to be a savvy shopper:
- Should I get my policy trough a travel agent? It can be quite tempting to take out travel insurance automatically when you book a holiday through your travel agent, but be warned: buying through your agent can cost you a lot more. As travel agents may add large commissions onto the prices of the policies they sell, you can usually save by buying a travel insurance policy direct from an insurer.
- Should I shop around? No one wants to think about insurance when they’d rather be daydreaming about their upcoming holiday, which is why many of us seem to settle for the first policy we come across. This is a big mistake that could end up costing you hundreds or even thousands of dollars. The best thing for all consumers to do is to research policies, shop around and compare the features and benefits on offer.
- How do I know what's covered? Every travel insurance policy contains a list of exclusions, but many travellers are completely unaware of what those exclusions are. Then when they injure themselves while riding a motorcycle or while parasailing, they’re shocked to discover their policy does not offer any coverage. Make sure you know the exact situations in which you will and will not be covered.
- Do I need to inform my insurer about existing conditions? If you have any pre-existing medical conditions, it’s essential that you tell your insurer about them when you apply for cover. If you don’t satisfy your duty of disclosure, don’t expect cover for any medical, hospital or additional travel expenses that arise as a result of your condition.
- When should I take out travel insurance? The “she’ll be right” attitude should be thrown out the window when it comes to travel insurance. Taking out cover when you book your holiday can ensure that you don’t forget to buy a policy, while it also means you’ll be covered for cancellation fees and lost deposits if unexpected circumstances force you to cancel your holiday, for example if you fall ill and are unable to travel.
What do the best* policies cover?
- Cancellation cover. The best* travel insurance policies include trip cancellation cover. It covers cancellation fees and the loss of non-recoverable deposits for travel and accommodation in these situations, if circumstances outside of your control, such as the death of a relative or if you lose your job, force you to cancel a holiday.
- Luggage and personal effects. If your luggage or personal belongings are lost, stolen or damaged during your trip, your travel insurance will cover the cost of their repair or replacement. You also usually have the option of taking additional cover for valuables you take with you on your trip.
- Emergency medical expenses. If you fall ill or are injured overseas, the best* travel insurance policies will provide cover for emergency medical assistance and the overseas medical costs you incur. This includes ambulance transportation, medical treatment, hospital accommodation and medical evacuation if necessary.
- Trip delay and additional expenses. If an injury or sickness whilst overseas means you are unable to travel and continue your holiday, travel insurance will cover your additional travel and accommodation expenses. Cover is also provided when your trip is delayed by other circumstances beyond your control, for example a family emergency.
Current insurance sales & coupon codes
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Other travel insurance who regularly have coupon codes on finder.com.au
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Finding a good deal is easy when you’re shopping for travel insurance. All you need to do is follow a few simple steps to ensure that you find a policy that offers all the cover you need and at an affordable price. Before buying a budget travel insurance policy, you may want to ask yourself the following:
Does this low cost policy give me the right cover?
Cost is typically one of the first factors many people take into consideration. It’s undoubtedly important as you do not want to be paying more for cover you can find cheaper elsewhere, but it’s also important to make sure that you are getting value for money. Some low-cost policies are cheap and nasty, providing basic coverage and containing many unexpected limits to cover, so make sure to factor this into your calculations.
Have I done a features comparison?
Next, it’s vital that you examine the product disclosure statements of each policy to learn exactly what is offered. What benefits and features does each policy offer? Does one offer higher benefit limits than other policies? Do certain insurers cover you for more adventure activities than others? Answering all these questions can help you find travel insurance that meets your needs and offers a great deal.
Do I already have cover?
If you've already paid for your trip with your credit card, you may have inadvertently paid for your travel insurance. May credit cards and high end debit cards provide you with travel insurance if you are paying for all or part of your trip with the card.
When an event occurs that could give rise to a claim, it’s important that you notify your insurance provider of this as soon as possible. You will then be required to fill out a claim form providing full details of the loss or damage, including when and how it occurred.
There are also other important steps you will need to take which can vary depending on the nature of your claim.
- What if something is stolen? You will need to report the theft to the local police as soon as possible and also obtain a copy of the written police report. If personal items are stolen, you may need to provide receipts, valuations or proof of ownership.
- What happens if I get sick overseas? If your claim is for overseas medical and hospital expenses, you may need to provide your medical bills or supporting evidence from your treating doctor.
Your insurer will request any information necessary to process your claim. It’s your duty to provide any details and documentation your provider requires in order to handle your claim promptly and effectively.
Compare travel insurance policies today
If you’re taking a holiday, you really should consider taking out travel insurance cover as well. It offers essential financial protection and the peace of mind you need to enjoy your holiday, but you need to shop around and compare your option to find the best* policy for your needs and budget.
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*The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing travel insurance policies