Travel insurance: 15 popular brands, compared.

What is travel insurance?

Travel insurance is designed to protect you financially if something unexpectedly happens while you’re away on your trip. For example, your luggage goes missing and you have to buy all new clothes; or if you roll your ankle while hiking and need to be taken to a hospital where the medical fees are expensive. These are just a few examples but you can be covered for loads more depending on what policy you take out.

Do I need travel insurance?

Only you can answer that but here’s some clarifying questions that can help get your pros and cons list going.

• How expensive is your trip? If it’s a $200 trip, you might not be bothered by losing this amount. If it’s a $15,000 Eurotrip, you’re more likely to care.
• Are your flights and accommodation refundable? If something happens and they’re not refundable, you’ll be out of pocket.
• How many non-refundable activities have you booked? If something happens and they’re not refundable, you’ll be out of pocket.
• Could you afford to replace your belongings if they were lost or stolen? This includes things like your luggage and your phone.
• What sort of healthcare arrangement does Australia have with the destination? If you’re going to NZ then you may not be concerned as it has reciprocal healthcare but if you’re going to the US then it may be something to consider.
• How long is your trip? If your trip is only a 3 day interstate getaway then you may feel that risk mitigation is less necessary.
• Did you buy the trip with a credit card that already has insurance built in? If you’re using a credit card then it’s worth checking if it has insurance built in already and what those limits look like.
• Will you be renting a car? If so, it may be worth looking at what the car rental excess benefit is like. Some insurers will cover this for up to $10,000.
• Are you carrying expensive goods that should be insured? This could be anything from an engagement ring to a CPAP machine or hearing aids.
• Is it a risky country? This is worth asking however if it’s so risky that a travel warning has been issued, then it’s likely your insurer won’t cover you if you’re planning on visiting somewhere that is considered hazardous.
• Are you going on a cruise? It can be worth considering travel insurance for this because shipboard care is very expensive so falling ill on a cruise can be very costly without travel insurance.

Decided now that you do in fact want travel insurance? Hit that button.

What does travel insurance cover?

Travel insurance covers emergencies or accidents that might happen to you or your belongings while you're away from home. You pay a travel insurer a fee (known as a premium) that is calculated based on the risks associated with your trip. In exchange, your insurer will pay you for unexpected costs related to your trip such as the following:

• Medical expenses if you're sick or injured overseas.
• Reimbursing you if you need to cancel your trip or cut it short.
• Covering your valuables and travel documents if they get lost, stolen or damaged.
• Flight cancellations
• Lost luggage

These are just a few examples of what travel insurance can cover. To understand what you’re covered for, read the product disclosure statement (PDS) on your chosen provider’s website.

How much does travel insurance typically cost?

The cost of travel insurance varies greatly based on where you’re going, the length of your trip and how risky your planned activities are. For a domestic policy, you could be looking at anywhere between $40-$100. For an international policy, you could be up for $100-$300. These price ranges are approximate and should be used as a guide only. Your own quote will differ based on where you’re headed, the length of your trip and what level of cover you select. It’s super easy to get quotes for yourself, just use the form at the top of the page and you’ll see what’s available on Finder within 30 seconds.

Keep in mind, the cheapest policy isn't always the best. It’s important to know what you’re covered for.

When should you buy travel insurance?

It’s wise to buy travel insurance once you’ve booked costly items or things that can’t be refunded. That could be flights, accommodation, activities, anything really. Once you’ve got a trip firmed up, the best way to protect it is by taking out a travel insurance policy.

"We recently had to cancel a trip to Europe due to a family emergency, resulting in thousands of dollars lost in tickets, accommodation bookings and more. Thankfully we had travel insurance through our credit card which made sure we were covered from when we booked. We received all money lost back in full for anything we couldn’t cancel."

Elizabeth Barry

Journalist

Compare our award winners

Best Travel Insurance - Comprehensive

Tick Travel insurancewon the 2024 comprehensive award because it goes further than the majority of insurers. It scored highly for cancellation costs and rental car excess. It's also competitive on price compared to the other 30 international policies we analysed.

Best Travel Insurance - Value

Wise and Silent Travel insurancewon the 2024 value award because it's cheaper on average than the other international policies we analysed, yet it covers you for more.

Best Travel Insurance - Domestic

Wise and Silent Travel insurancewon the 2024 award for best domestic travel insurance because it scored highly for rearrangement and cancellation costs, lost and delayed luggage features and rental car excess, while remaining comparatively affordable.

‹
›

Our experts say

Our expert says

"Good to know – only a handful of insurers including SCTI and CoverMore can cover you for trip cancellations or changes before your journey because of an unexpected event. The majority don't do this. They only cover you for certain reasons. So for example, if your flight was cancelled or delayed for a reason not listed in the PDS, you might not be covered."

Gary Ross Hunter

Journalist

Types of travel insurance

• 
  
  Multi Trip
• 
  
  Cruise
• 
  
  Ski
• 
  
  Domestic
• 
  
  Senior
• 
  
  Visitors to Australia
• 
  
  Pregnancy
• 
  
  Pre-existing Conditions
• 
  
  Rental Car Excess

Travel insurance guides for our most popular destinations

Bali

Looking for inner peace? Get peace of mind with the right cover in Bali.

Singapore

Don't chew gum in Singapore, don't go there without the right travel insurance either.

USA

With some of the highest medical costs in the world, travel insurance is a no-brainer.

Europe

Italy? France? Greece? Get cover for them all with a Europe travel insurance policy.

Get a travel insurance quote

FAQs

• Is travel insurance worth it?

  Something going wrong at home is bad, but if something goes wrong overseas it can be catastrophic. From medical costs to flight cancellations, travel insurance is basically always worth it. Smartraveller, which is maintained by the Department of Foreign Affairs and Trade (DFAT), says 'if you can't afford travel insurance, you can't afford to travel'. Taking out a policy is a small price to pay compared to the thousands you could lose if something unexpected happens.

• Does travel insurance cover cancellations?

  Yes. Travel insurance can cover you for flight cancellations if something unexpected happens and you're unable to go on your trip. It can also pay for additional accommodation costs and other pre-booked plans associated with disrupted or cancelled flights. However, read the product disclosure statement because some may only cover you for certain cancellations.

• Are there age restrictions on travel insurance?

  You can usually get travel insurance with most providers if you're a senior up to the age of 80 but you might not be eligible for annual or frequent traveller policies with some brands once you turn 65. If you have any pre-existing conditions, you may have to complete an online medical questionnaire and pay more for a policy.

  Most policies will cover kids for free if they're travelling with a parent or guardian. You usually need to be under 23 to be eligible as a dependant, though this varies slightly between brands.

• Can I just get complimentary credit card insurance?

  Complimentary credit card travel insurance can offer similar cover to a standalone travel insurance policy but it often comes with lower caps on how much you can claim. You'll need to read the product disclosure statement (PDS) for the fine print regarding the excesses you will have to pay, the benefit limits, the maximum trip duration and which pre-existing medical conditions are automatically excluded.

  If you find the few dollars you save isn't worth the risk of being out of pocket, consider taking out a standalone policy instead.

• Will travel insurance cover my pre-existing condition?

  It depends on your condition. Insurers will list what pre-existing conditions they automatically cover in the product disclosure statement.

  If your condition isn't on the list, let your insurer know about your ailment and they will decide whether to cover you for claims related to that condition. You might have to pay more for a policy but you will still be able to get insurance.

• What's an excess?

  An excess is the upfront fee you'll have to pay if you need to make a claim on your travel insurance policy. Depending on how risk-averse you are, you can opt for a higher excess, which will mean lower premiums (policy cost), but this might mean that smaller claims are not worth it.