Dollar Saver tip #44
Credit card travel insurance can be just as good as a policy you'd pay for, without the same price tag.
Right now, it seems like every other person is going on an overseas holiday (or planning one). I just got back from a trip to the UK and definitely noticed the rising costs for flights, accommodation and meals.
But one way I saved was by getting comprehensive travel insurance through a credit card.
Did you know?
International holiday travel and accommodation costs increased 6.2% in the year to June 2023, with the ABS stating it was one of "the most significant price rises" driving inflation.
Not everyone considers travel insurance essential, but the Australian government recommends it. In fact, the SmartTraveller website says it's "as important as a passport"!
When I was comparing travel insurance, I found a credit card that offered a similar level of cover to a policy I'd considered buying – which saved me around $200.
One of the main reasons this worked for me was because I already wanted a new credit card to help save on overseas transaction fees. So, including travel insurance in my comparison made sense.
For someone who doesn't want a credit card, comparing travel insurance policies you can pay for is still a valuable and essential part of the trip.