Must-haves
- Medical cover
- Flight cancellations and delays
- Trip disruption cover
- Medical evacuation
- Luggage and personal effects
- Passport and travel documents
- Trip cancellation
- Personal liability
- Rental car insurance excess
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Second year running winner. Budget Direct's comprehensive policy includes important benefits with high limits.
Online Travel Insurance stands out for its competitively priced policy that still offers a considerable amount of cover.
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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.
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.
Single trip | Annual multi-trip |
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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 28 May 2019.
Budget Direct | Tick Travel Insurance | Fast Cover | |
---|---|---|---|
Policy | Last minute | Basic | Basics |
Price for 10 days' cover | $39.03 | $23.51 | $24.80 |
Excess | $200 | $200 | $200 |
Overseas emergency medical assistance and hospital expenses | Unlimited | Unlimited | Unlimited |
Luggage and personal effects | $2,500 | $2,000 | Not covered |
Cancellation fees and lost deposits | Not covered | Not covered | Not covered |
Budget Direct | Tick Travel Insurance | Fast Cover | |
---|---|---|---|
Policy | Essential | Standard | Standard Saver |
Price for 10 days' cover | $55.14 | $36.18 | $41.70 |
Excess | $200 | $200 | $200 |
Overseas emergency medical assistance and hospital expenses | Unlimited | Unlimited | Unlimited |
Luggage and personal effects | $5,000 | $4,000 | $5,000 |
Cancellation fees and lost deposits | $12,500 | $5,000 | $25,000 |
Budget Direct | Tick Travel Insurance | Fast Cover | |
---|---|---|---|
Policy | Comprehensive | Top | Comprehensive |
Price for 10 days' cover | $57.19 | $39.11 | $44.70 |
Excess | $200 | $200 | $200 |
Overseas emergency medical assistance and hospital expenses | Unlimited | Unlimited | Unlimited |
Luggage and personal effects | $7,500 | $7,500 | $15,000 |
Cancellation fees and lost deposits | Unlimited | $20,000 | Unlimited |
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.
Financial services provider | Primary business | Chance of dispute |
---|---|---|
Insurance Australia Limited | General insurer | Not listed |
Chubb Insurance Australia Limited | General insurer | 0.3 |
AIG Australia Limited | General insurer | 4.5 |
AWP Australia Pty Ltd | Underwriting agency | 5.4 |
Lloyd's Australia Limited | General insurer | 8.5 |
The Hollard Insurance Company Pty Ltd | General insurer | 11.2 |
Mitsui Sumitomo Insurance Company Limited | General insurer | 12 |
Auto & General Insurance Company Limited | Underwriting agency | 12.3 |
MEDIAN | 12.3 | |
Great Lakes Insurance SE | Underwriting agency | 12.9 |
Tokio Marine & Nichido Fire Insurance Co Ltd | General insurer | 22.9 |
Southern Cross Benefits Ltd | General insurer | 23.6 |
QBE Insurance (Australia) Limited | General insurer | 25.1 |
AAI Limited | General insurer | 28.7 |
Zurich Australian Insurance Limited | General insurer | 31.1 |
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.
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.
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.
Every traveller is different, which is why finding the best policy is so hard. These guides should help you narrow down your search:
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