Looking for other insurance options?
Find out how to protect your finances during the global coronavirus pandemic with insurance.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Travel insurance provides financial protection from risks such as medical emergencies, cancellation fees and lost deposits and lost or stolen luggage. However, before you run out and get comprehensive travel insurance, check if cover is provided through your debit card. You might be pleasantly surprised.
One of the features offered by many high-end debit cards is complimentary insurance policies. In addition to features like purchase protection and extended warranty insurance, many cards also offer comprehensive travel insurance.
If you want to use your debit card’s travel insurance for your next trip, keep in mind that you need to satisfy certain conditions to activate your cover. Rather than automatically covering you whenever you hop on a plane, these policies typically require you to spend a certain amount of your trip expenses on your card. For example, you may need to use your debit card to book and pay for your flights.
Once in place, these policies provide protection against a range of risks. Cover differs between cards, but complimentary debit card travel insurance typically covers things like delayed flights, delayed luggage, lost luggage and other travel interruptions. Some also offer financial protection when you require overseas emergency medical assistance or a stay in hospital.
Limits and sub-limits on debit card travel insurance differ from those offered by standalone policies, so make sure to compare this feature when deciding on the right insurance for your needs.Back to top
Although complimentary travel insurance has long been offered with premium credit cards, it is now becoming a more regular feature with premium debit cards. For example, the NAB Gold Visa Debit Card comes with overseas travel insurance as standard.
You need to spend $500 on pre-paid overseas transport or accommodation costs to activate your cover, which then protects you against everything from overseas medical emergencies to cancellation fees, lost luggage and personal liability.
The HSBC Premier Debit Card also provides international travel insurance to cardholders. This policy covers overseas medical and hospital expenses, journey resumption after the death of a relative, cancellation fees, rental vehicle excess and travel delay.Back to top
Many premium credit cards come with complimentary travel insurance included as standard. However, just like debit card travel insurance, credit card travel insurance comes with its own list of pros and cons.
The main advantage of this cover is that you can save money by not buying a standalone travel insurance policy. If you have a platinum credit card on which you are already paying an annual fee, there’s no need to fork out extra cash for more cover.
Although the exact type and level of cover offered differs between credit cards, most policies will provide cover for the same risks that a normal travel insurance policy would. This includes overseas emergency medical expenses, cancellation fees and lost deposits, lost or stolen luggage, lost passports, travel and luggage delays, rental vehicle excess and personal liability.
However, it’s important to read the fine print associated with your credit card travel insurance policy before deciding whether or not it offers an adequate level of cover. Many credit card policies cap cover at a lower limit than standalone policies. For example, a credit card might only cover up to $500,000 of overseas emergency medical expenses while a standalone policy could offer unlimited cover.Back to top
Find out how to protect your finances during the global coronavirus pandemic with insurance.
There are some important factors you should be aware of when you are considering using your debit card or credit card’s travel insurance policy to provide cover for your next trip. These include:
Debit card travel insurance undoubtedly has a number of benefits for cardholders. However, there are many cases where it does not offer sufficient coverage for some people. This could include those people who want a high level of cover, those who are planning extended journeys, or those who want the flexibility to add extra options to their cover.
In such situations, it often makes sense to consider taking out standalone travel insurance cover. Standalone policies typically offer a higher level of coverage than debit and credit card policies, while you can often opt to add in extra cover for things like adventure sports.
You can take out a standalone policy through your travel agent, but this approach is not always recommended. Travel agents may add a hefty commission on top of the price of the policies they offer, so you can end up paying much more than you need to. Instead, it's usually cheaper to take out a policy online from a direct travel insurer.
However, some travel agents do sometimes have cheaper policies so it's important to consider all policies. It’s quick and easy to get a quote online, plus you can use finder.com.au’s comparison tools to weigh up the pros and cons of competing policies.
Whether you opt for insurance from your debit card or from a standalone policy, it’s important to take a close look at the fine print. While complimentary insurance on premium-level debit cards can provide adequate financial protection for many travellers, you’ll need to closely examine the cover your card offers to determine whether it is right for you, or whether you’d be better off seeking out a standalone travel insurance policy.Back to top
Made a search before? Retrieve your search results
Find out what exactly TPD insurance covers and how to determine an appropriate level of cover to give adequate protection in the event of disablement.
If you need to make a claim on your TPD insurance, follow these steps to ensure you have the best chance of making a successful claim.
Your guide to how the Financial Ombudsman Service can help resolve disputes between you and your travel insurer.
Major names in health insurance and travel have moved fast to offer rewards to people who've received the COVID-19 vaccination.
Find out how both Medicare and private health insurance cover occupational therapy to get the assistance you need.
Find out how term life insurance actually works and receive quotes for cover securely.
The outbreak of covid-19 has many people wondering about their insurance options. This guide helps answer all you life insurance question during the coronavirus outbreak.
A no-frills card offering a $0 annual fee for the first year, $400 back when you meet the spend requirement and a 13.74% p.a. interest rate on purchases.
Compare cat insurance from popular Australian insurers to get more for your money and protect your cat from injuries or illnesses.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.