The primary reason for taking out travel insurance when you journey away from home, either within Australia or overseas, is to ensure that you’re afforded a level of coverage to help you avoid a steep bill. You can buy a policy suited to your needs as a traveller by comparing offers from some of Australia’s top insurers right here with Savvy.
Considering different offers will help you choose with more confidence which is the best for you both in terms of coverage and cost. Start the process of comparing your options with us today and get a quote with your chosen insurer before you know it.
What is travel insurance coverage?
When purchasing a travel insurance policy, the coverage it offers is the list of events and incidents for which you can make a claim to compensate yourself. In many ways, travel insurance policies are defined by their coverage, as what is and isn’t included will have a significant bearing on whether it’ll be the best policy for your needs as a traveller. In terms of what coverage travel insurance offers, this will depend on the level of cover you opt for. Comprehensive travel insurance can offer cover for the following:
- Medical expenses: if you’re on holiday overseas, having travel insurance can be a lifesaver if you fall ill or are injured and require treatment. You can also have the costs of emergency transportation, medical evacuation and repatriation in Australia covered by your policy.
- Personal effects: being covered for the loss or theft of, or damage to, your items is another benefit of taking out comprehensive travel insurance. This is usually up to a set limit, which will vary depending on the insurer you choose, but often ranges from $5,000 to $15,000.
- Cancellation: should a covered event get in the way of your holiday and cause you to cancel part or all of your trip, your insurance can cover any fees you’re charged to do so. This is often unlimited, while you can also claim for expenses relating to trip disruptions and resumptions up to a set limit.
- Hire car excess: renting a car whilst away from home and damaging it could leave you with a hefty excess to pay the vehicle hire company. Fortunately, you can access rental car excess cover through your travel insurance, which will either come as part of the main coverage or as an optional extra.
- Personal liability: you can also access cover for personal liability if you’re found to be at fault for damage to someone’s property or causing injury to another person. On comprehensive policies, this cover will generally reach up to $5 million.
- Optional extras: on top of the standard insurance, most policies will allow you to pay a bit extra to access additional coverage. This may be for certain activities such as snowboarding or skiing cover, other adventure activities or even cover for a cruise.
However, if you take out basic travel insurance, you’ll likely only receive cover for medical costs and personal liability. As such, this type of insurance is better suited to those who are travelling light, don’t have many bookings or are only taking a short trip.
Can I get travel insurance with COVID-19 coverage?
Yes – there are many insurers today who offer coverage for COVID-19-related expenses. This will generally come as part of your standard insurance policy, but the specifics about what will be covered can vary between providers. Some of the main areas you can be covered for are:
- Medical costs relating to a COVID-19 infection, including emergency transportation
- Cancellations made due to a positive diagnosis, becoming a close contact before departure or a family emergency where someone else falls ill
- Additional travel expenses as a result of a positive diagnosis, such as having to quarantine and pay for further accommodation
- Pet care if your time away from home is extended unexpectedly due to COVID-19
- Medical evacuation and repatriation if you need to be returned to Australia
- If you pass away overseas due to COVID-19 and have your remains returned to Australia
You won’t be covered for all COVID-19-related expenses under your policy, though. It’s important to consider what you won’t be able to claim for with travel insurance, which can include the following:
- If you travel against government advice
- Cancellations made due to travel bans, lockdowns or border closures
- Cancellations or extended stays due to quarantine as a close contact
- Claims made after not wearing a mask in a high-risk setting
How do I compare travel insurance policy coverage?
When picking out which travel insurance policy and provider is the best for you, there are many factors to consider. Each of these will play a role in your decision-making process, so it’s crucial to keep these in mind when completing your comparison:
Inclusions and exclusions
Of course, what is and isn’t covered will be a key feature of your comparison, as it’s important above all else to make sure you’re covered in all the areas you need. Not all insurers will offer the same inclusions and exclusions, so be sure to compare them between providers.
Cost of premium
While how much your premium costs shouldn’t necessarily be the most important factor, it's still worth comparing different quotes based on their price to avoid overpaying for your coverage. Cheaper doesn’t always mean better, but don’t pay more than you need to for travel insurance.
Some insurers will impose age limits on their coverage (or certain aspects of it), which start from the age of 65. While some insurers may not offer policies to those aged 75 or over, others don’t have any strict age limit and can cover those up to the age of 99 or even 130.
Certain parts of your coverage, such as personal items and trip disruption, can only be claimed up to a set amount, which varies between insurers. To use the trip disruption example, some companies enable you to claim up to $50,000, while others may only afford $30,000 of cover.
Not all companies cover all countries. If you’re looking for cover for a Thailand trip and are visiting several nearby countries, make sure your policy covers you for each of these to avoid being caught short if something happens while you’re outside of Thailand.
Make sure the policy you choose offers the extras cover you need for whatever you plan on doing whilst away from home. If you’re looking to partake in some rock climbing or abseiling, for instance, make sure you can be covered for it either by your main policy or via an added adventure package.
Types of travel insurance
International travel insurance can offer cover for a range of events, including medical expenses, lost luggage or items, cancellation fees and more when you're overseas and a long way from home.
If you're journeying within Australia, domestic policies are designed to offer many of the same protections as international travel insurance (with the exception of medical expenses).
The most standard and common type of travel insurance, this policy can cover you for one trip starting and ending in Australia (and is available for both international and domestic travel).
As the name suggests, this type of travel insurance covers multiple trips over a 12-month period. Depending on your insurer, you may be able to take an unlimited number of trips up to 90 days each.
You don't have to have a return ticket booked to take out cover while you're overseas. One-way travel insurance enables you to access cover without a set end date, such as if you're moving temporarily.
You may need to take out specialist coverage if you're setting sail on a cruise. Fortunately, cruise insurance can cover emergency evacuation, cabin confinement and more.
Just because you're older doesn't mean travel insurance isn't still important. If you qualify for cover, seniors' travel insurance can offer greater peace of mind for included events while you're travelling.
Adding winter sports or ski cover to your policy can add protection against damage to your equipment, piste closure due to bad weather and activities such as back-country skiing, heliskiing and more.
Looking to enjoy some adventure sports on holiday? An adventure sports pack can grant you cover for a range of activities, such as hiking, scuba diving and motorcycle or scooter riding.
Jetsetting with the whole clan in tow? Some insurers offer family travel insurance, which enables you to include yourself, your partner and your dependent children under one policy to help you save.
If you're travelling interstate or overseas with your partner (or simply another friend or family member), you may be able to access a discount by taking out a joint or duo travel insurance policy.
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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.