Best travel insurance

Looking for the best travel insurance? We've compared 20+ brands, so you don't have to.

While there's no single best travel insurance that's right for everyone. Finding a policy that works for you is easier when you use the Finder Ratings, which sort policies based on how much they cover so you can find the best travel insurance for you.

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What is the best travel insurance in Australia?

Each year finder.com.au hands out awards for travel insurance in two categories:

• Best Travel Insurance – Comprehensive
• Best Travel Insurance – Value

What separates Budget Direct from the pack?

Budget Direct Comprehensive cover edged out its competition in a couple of areas, specifically by providing unlimited emergency companion and disruption of journey cover. It also has one of the higher levels of cover for rental vehicle excess as standard.

Where is the policy lacking?

While this was rated our best comprehensive travel insurance, it did have a couple of shortfalls when compared to other similar products. Notably for its lower-than-average cover for accidental death, hijack and luggage and personal effects.

Honourable mentions

It was a tight competition in 2018, with Fast Cover’s Comprehensive coming so close to the top spot that it was highly commended. Other finalists were:

What separates Tick Travel insurance from the pack?

While it was slightly more expensive than its competition, Tick Travel Insurance – Standard offers cover for accidental death, family emergency, hospital cash allowance, loss of income, cancellation fees, lost deposits, luggage and personal effects and a host of benefits not normally covered on lower-cost policies.

Where is the policy lacking?

Since this is a low-cost policy, it’s really hard to fault it for not being more comprehensive, but if you had to pick one thing it would be nice if it covered credit card fraud and replacement.

Honourable mentions

What makes a travel insurance policy “the best”?

Finding the best policy comes down to knowing what you want covered and the Finder Rating is a way for you to get a high-level idea about the value a policy offers.

We spoke with Travel Insurance Direct about not only what they thought was important to have covered but also how often those items were claimed:

What should the best policy cover?

When looking for travel insurance there are must-haves and nice-to-haves. When looking for the best policy, it really should have cover for both must-haves and nice-to-haves.

Must-haves

• Medical cover
  • Medical cover protects you against the financial costs associated with overseas medical treatment for a sudden illness and covers costs such as rides in an ambulance, hospital or doctor’s bills. When comparing top travel insurance policies, the best international travel insurance policies offer unlimited cover.
• Accident cover
  • Accident cover protects you against the financial costs associated with overseas medical treatment if you sustain a sudden injury and protects you from costs such as rides in an ambulance, hospital or doctor’s bills. When comparing top travel insurance policies, again you’re going to want to look for one with unlimited cover.
• Flight cancellations and delays
  • If your flight is cancelled due to a claimable event such as a natural disaster your policy will cover you for the additional expenses you incur such as accommodation costs. A top policy will provide unlimited cover for this benefit.
• Travel delays
  • If your trip is delayed due to an operational error on behalf of your airline, your policy will cover you for some incidental costs such as meals and in some cases accommodation.
• Trip interruption
  • Trip interruption covers you for additional costs such as flights and meals if you have to head home for an unforeseen event such as a death in the family.
• Medical evacuation
  • If because of a sudden onset of an illness or injury you need to be repatriated back to Australia or you require evacuation from a location to a nearby hospital, your policy will cover the associated costs. Again, the best policies offer unlimited cover for this.
• Luggage and personal effects cover
  • If your luggage is damaged, lost or stolen, your policy will generally cover you for some of the replacement costs up to both the policy and per item limit. If you have expensive items, it’s better to find a policy that allows you to buy additional coverage for expensive items.
• Trip cancellation
  • If you need to cancel your trip due to circumstances outside of your control such as an illness, your policy will cover cancellations costs such as lost deposits and non-refundable bookings. The best policies will offer unlimited cover.
• Luggage delay cover
  • If you arrive somewhere but for some reason your luggage doesn’t follow suit, then your policy will provide you cover for the essentials to get you through until it arrives.
• You have to pay rental car insurance excess
  • This is only a must-have if you’re renting a car but if you are, travel insurance excess cover provides you with cover for the deductible charge applied by rental companies when you’re involved in an accident.

Nice-to-haves

• Your passport or travel documents
  • If your passport is lost or stolen while you’re overseas, a top policy will cover you for the reasonable replacement costs.
• You incur a loss of income
  • If you’re involved in an accident overseas and you’re unable to return to work, the best policies will offer you some support in the form of a monthly stipend to replace your lost income.
• Your credit cards
  • If your cars are lost or stolen while you’re away, your policy will cover you if you suffer a financial loss as a result.
• You suffer a total permanent disability
  • If you’re involved in an accident overseas, the best policies will provide you with a lump sum benefit depending on the type of life-altering injury.
• You become legally liable
  • If your negligence leads to someone getting injured or you damage somebody’s property, this benefit will cover you for compensation you’re legally liable for, with the best policies offering cover upwards of $1 million.
• Accidental death
  • If you die while overseas, the best international policies pay a benefit to your estate along with the associated costs of repatriating your remains.

Is it best to get a single trip or annual policy?

When you’re looking for travel insurance you’ll come across the option of choosing a single or annual trip policy. Both have their pros and cons but single trip policies are best for you if you don’t plan on travelling much over the next 365 days or if you’re going on one long trip (annual policies cap the length you’re allowed to travel in a single go).

Annual policies are best if you’re a bit of a jet-setter. Buying an annual policy generally works out cheaper than buying single trip policies if you plan on making more than four shorter trips in the next year.

What isn’t covered even by the best policies?

Sadly, not even the crème de la crème of travel insurance policies cover everything.

Below are a few items no policy provides cover for:

All policies are different, so make sure you check the relevant PDS for a full list exclusions.

Best travel insurance companies

Finding the best travel insurance company is not as simple as getting the best policy. For the best travel insurance company, you’re going to want to look at how good its products are in conjunction with things like the company’s reputation and how many complaints it receives.

The table below displays data collected by the Australian Financial Complaints Authority (AFCA) in 2017–18 on your chance of having a dispute per 100,000 with these travel insurers and underwriters. If you’re not sure what the underwriter for a travel insurance company is, you’ll be able to find it listed in the PDS.

Check the underwriter

Those listed in the table above are the underwriters of a whole host of travel insurance brands in Australia. So when you’re looking at a policy, it’s always smart to look at which underwriter is used.

Check online reviews

Before you take out your policy, have a quick whip around the Internet to see what previous customers have said about their claims experiences, whether their emergency assistance team was helpful or just customer service in general. Sure, you’re always going to find negative comments, especially in the world of insurance but if the reviews are all overwhelmingly bad, you might want to look at taking your business elsewhere.

Getting the best value out of your travel insurance

Sometimes you’re not after the best policy but rather after the best bang for your buck, this is no truer than when trying to find the best travel insurance for the whole family.

We analysed policies from three of our most popular partners to see how their policies for Bali compared. We looked at a 10-day trip to Bali using a 30-year-old traveller. These quotes were retrieved on 30 August 2018.

• Basic policies
• Standard policies
• Comprehensive policies

How to find the best travel insurance for...

Every traveller is different, which is why finding the best policy is so hard. These guides should help you narrow down your search:

• 

  Best for the budget traveller

  Compare the best cheap travel insurance policies on finder.com.au

• 

  Best for pregnant travellers

  Compare travel insurance policies that cover for travel up until your 32nd week of pregnancy.

• 

  Best cover for pre-existing conditions

  Compare policies that don’t automatically exclude any conditions.

• 

  Best cover for seniors

  Find the best cover for over 65s with cover for unlimited overseas medical assistance.

• 

  Best cover for winter sports

  Find the best policy that covers all your ski and snowboard needs.

• 

  Best cover for two wheels

  If you’re going to be riding a motorcycle compare policies that cover up to 250cc bikes.

• 

  Best cover for cruises

  Protect yourself against the costs of missed shore excursions and cabin confinement with top cruise cover.

• 

  Best cover for backpackers

  Travelling on a budget doesn’t mean you should go without cover, protect yourself on a budget.

• 

  Best cover for high-value items

  Compare policies based on their limits for individual items.

Picture: Unsplash