Big 4 banks slash credit card travel insurance: what happens to existing bookings?
Key takeaways
- Free travel insurance is being stripped back or removed altogether from credit cards across major banks.
- If you've booked a holiday, check when your cover was activated, as you may still be protected under the old terms.
- Contact your card provider if you're unsure if your trip is covered; key dates (below) are different for each bank.
Last year I took off on a 3-week adventure around Europe with my family, and I didn't spend a cent on travel insurance.
Not because I'm happy to throw caution to the wind, but because I had free cover through my credit card. It saved me a pretty penny.
We're looking at heading overseas again next year and this time, I'll have to be a bit more strategic.
Because credit card travel insurance is changing – and not for the better.
What's changing with complimentary credit card insurance?
- Free travel insurance is being stripped back. Some cards are losing complimentary travel insurance altogether; for others, the cover is reduced.
- Fewer benefits are on offer. Cancellation, luggage and travel delay cover are among the benefits being removed or reduced.
- Higher excesses apply. On some cards, excesses are jumping up to $350 per event.
- Longer trips and high claim limits get the chop. Banks are reducing maximum trip lengths and claim limits on cards that keep their insurance.
What if you have booked an overseas trip?
Booked a holiday using your credit card with plans to rely on complimentary travel insurance, and now your credit card's travel insurance is disappearing?
You may or may not still be covered: the answer depends on your bank.
Here's a summary of what the Big Four banks are doing:
| Bank | If you've already booked | If you haven't booked yet |
|---|---|---|
| NAB | If you have an affected card, the old travel insurance doesn't necessarily apply just because you booked before the changes. NAB's changes apply to claimable events from 15 May 2026, so check your policy and when you became eligible for cover. | The new terms apply. Several NAB cards have lost complimentary travel insurance, while others have reduced cover. Check what insurance your card currently provides before booking. |
| CommBank | If you've already activated your travel insurance by 28 September 2026 and met the $500 prepaid travel spend requirement, your existing policy remains unchanged. Simply booking your holiday before 29 September isn't enough — you need to have activated the insurance. | The new insurance terms apply from 29 September 2026. You'll need to spend at least $500 in a single transaction on prepaid travel costs and activate your insurance before departure. Cover varies by card, with some benefits reduced or removed. |
| ANZ | ANZ says your cover is determined by the date of the insurable event, rather than when you booked your trip. That means booking before the changes doesn't necessarily protect you from the new terms. | The new terms apply from the relevant change dates. Some cards will have reduced travel insurance, while Rewards Platinum and, later, Rewards Black will lose complimentary travel insurance altogether. |
| Westpac | Westpac is the most generous when it comes to existing bookings. If you met the eligibility requirements before 1 October 2026, your old policy can continue to apply to eligible trips completed by 30 September 2027. | The new terms apply from 1 October 2026. Complimentary cover is being reduced to medical travel insurance, domestic travel insurance and rental vehicle excess, with cancellation, travel delay and luggage cover removed. |
If you have travel booked and you're not sure where you stand, your best bet is to contact them directly for confirmation.
If you're travelling after the changes take effect under new insurance rules and policies, then check exactly what your card will cover. Several banks are removing things like cancellation, luggage and travel delay cover, while retaining some medical and rental vehicle cover.
For peace of mind, you may want to add your own standalone travel insurance to supplement the card cover. Grab a quote in 30 seconds.
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