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Travel Insurance Broker

Find out how a broker may be able to help you and compare travel insurance options with Savvy.

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, updated on September 4th, 2023       

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Compare Travel Insurance Quotes in 30 Seconds

Travel insurance is as important as your bags and passport when you’re taking a trip for business or leisure. However, finding the right policy that’s tailor-made for your journey can be tricky. Travel insurance brokers are there to make that decision easier and Savvy can show you how they work.

By doing your homework with us, you’ll find out exactly how travel insurance brokers operate, how much they cost and the pros and cons of enlisting their help, as well as how you can find the right travel insurance policy right here with us. Start the process with Savvy today.

What is a travel insurance broker and how do they work?

Travel insurance brokers are specialists who help you compare deals and find the best coverage for your upcoming trip. There are countless policies on the market, offering a diverse range of different conditions, inclusions and exclusions, so finding the right one for your upcoming getaway can be tricky. A broker can sift through the unnecessary policies to help you find and secure a travel insurance product which is the best fit for your next trip away.

Aside from comparing travel insurance for you, brokers can also liaise with your insurance provider whenever necessary, including if you need to make a claim. This allows you to save time and a lot of hassle when you’re busy making the most of your time away.

What are the pros and cons of using a travel insurance broker?

Putting your faith in a broker to find the best travel insurance policy allows you to leave the decision up to the experts so you can get on with planning your trip. However, there are arguments for and against using a specialist third-party broker to find a travel insurance policy. These include:

Pros:

  1. Expert advice: travel insurance brokers know policies and providers like the back of their hands, so they’ll know where to look for the coverage you need. Some of these brokers have been in the game for years and can provide you with an educated decision on which travel insurance quote is best suited to you.
  2. Doing the legwork for you: one of the key benefits of purchasing travel insurance through a broker is that it saves you plenty of time and hassle shopping around and looking at various policies, as it’s not always easy to know where to look. Brokers do the running around for you so they can find a policy that aligns most with your needs and the type of holiday you want to take.
  3. They study the fine print: most brokers have an intimate knowledge of what is included, and what isn’t, across most travel insurance policies. They also have plenty of knowledge when it comes to the general exclusions of each policy, allowing them to provide you with one which is sufficient for the holiday you’re planning on taking.
  4. Filing claims while you’re away: whether you’ve taken a trip to Argentina or are exploring the landmarks of Sydney, your travel insurance broker can manage any claims you have to make if something goes awry while you’re on holiday. This can save you time so you can get back to relaxing and enjoying your trip.

Cons:

  1. It can be costly: you’ll often have to pay for the luxury of having someone chase down the perfect travel insurance policy. Brokers commonly charge fees for finding you a policy, which vary depending on who you choose, so it’s a good idea to get a breakdown of the charges.
  2. Potentially limited with options: brokers tend to work for a limited selection of Australian travel insurance providers. Some brokers receive a commission for selling these products. This has the potential to limit your options, as your broker may not always present you with the best policy for your needs on the market.
  3. Dependent on them: while a broker can give you added peace of mind if you’re travelling overseas, it can also leave you totally dependent on them while you’re away from home. For example, if you’re in sunning yourself on holiday in Fiji and need to file a claim, you’ll be relying on them to do the work, rather than be able to do so yourself.
  4. Time-consuming: dealing with a broker can chew up more time than simply doing your own research on travel insurance policies online.

If you’re looking at your options aside from a travel insurance broker, Savvy can help you track down the right travel insurance for your next holiday with our easy-to-use website. Our straightforward online tool lets you compare quotes from various providers and get a side-by-side comparison of the price of the premiums on leisure or business trips. You also get to weigh up the costs, excesses, benefits and claim limits on each policy to take the guesswork out of your decision.

Frequently asked travel insurance broker questions

Aside from a broker, how else can I purchase my travel insurance?

You can purchase basic or comprehensive travel insurance through travel agents, insurance companies or certain banks or simply by going out and doing the research yourself. There are also some credit card companies which offer complimentary travel insurance, which may be conditional on you purchasing your flights or accommodation using the card.

What details and documents do I need to provide my broker?

If you’re wondering what you need to take out travel insurance with a broker, you don’t need much. A broker will need a few details to help find the right travel insurance policy that suits your unique circumstances, including:

  • The full name and date of birth of all travellers
  • The countries you intend to visit
  • How long you are travelling for
  • Whether you have any pre-existing medical conditions
  • If you’ve received two doses of the COVID-19 vaccine
Do I need a travel insurance broker to take a domestic trip?

You can still purchase domestic travel insurance through a broker if you’re just taking a road trip across Australia or visiting family and friends in Sydney. However, if your trip is relatively short and inexpensive, you may simply decide to skip using a broker and compare options yourself with Savvy.

Should I buy my travel insurance through a travel agent instead?

Buying your travel insurance through a travel agent can be convenient if you’re already going through them for your flights and accommodation. It can also give you peace of mind that if anything goes wrong, your agent can help you out. However, buying your policy through a travel agent can be expensive because they often charge you a commission on top of the standard cost of the policy. It’s also likely you won’t be given the same level of choice when it comes to your policy, which is one of the benefits you get by comparing with Savvy.

What do I do if I need to make a claim?

Making a claim on your travel insurance is usually pretty painless and can be done in no time at all. Generally speaking, most insurance companies will allow you to submit your claim online, which includes the following steps:

  • Enter your policy reference number and attached email address
  • Complete the online claim form and provide plenty of detail
  • Attach your supporting documents, such as medical or police reports and any receipts
  • Provide your bank account details for your refund
  • Wait for an outcome

 

Most insurers will tell you it can take up to ten working days to receive a verdict on your claim. It’s important to respond to questions about your claim quickly so it doesn’t hold up the process. Also, it’s a good idea to file a claim as soon as possible so the details of the incident are fresh in your mind.

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Disclaimer:
We do not compare all travel insurance brands currently operating in the market. Any advice presented above or on other pages is general in nature and does not consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.

Savvy earns a commission from our partners each time a customer buys a travel insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via their websites.

Before purchasing your policy, we recommend you refer to the provider’s PDS for any further information on the terms, inclusions and exclusions.

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