Whether you’re heading overseas for the expansive holiday you’ve been saving up for or moving around Australia for a temporary position, there are many reasons why you might wish to take out a long-term travel insurance policy. You can compare a variety of offers for your months-long trip right here with Savvy.
We’re partnered with trusted Australian insurers who can deliver you the cover you need for an extended period away from home. Finding the right deal for your needs is as simple as comparing your options with Savvy and you can commence the process of getting a quote as soon as today.
What are my long-term travel insurance options?
When it comes to taking out a travel insurance policy to cover a long-term holiday, whether international or domestic, you can access cover for up to or beyond 12 months in some cases. However, it’s important to consider the nature of your travel to ensure you take out the right type of cover. The main options for long-term travel insurance are:
Single-trip travel insurance
A single-trip policy covers you for a single round trip which starts and ends in Australia. This is the most common type of travel insurance taken out and is suitable for those who are only planning one extended trip within a given year. These can cover you for up to 12 months from your start date but must finish in Australia within that period to ensure you’re covered the whole time you’re away.
However, some insurers will enable you to extend your policy by six to 12 months while you’re overseas. This is helpful if you decide to stay longer than your original return date, but this may only apply if you’re travelling within a particular set of countries, such as the US, the UK and Canada with some providers.
One-way travel insurance
As the name suggests, a one-way policy is a type of long-term international travel insurance for those who are leaving the country without a set end date or return flight booked. This is useful for those relocating overseas indefinitely or simply who want to travel without the constraints of bookings which are set in stone, such as insurance for backpackers.
Like single-trip insurance, one-way travel insurance can cover you for up to 12 months with the scope to extend by an additional 12 months. You can also take out a new policy to cover your return to Australia, provided your flights are at least 48 to 72 hours after you purchase the policy.
Annual travel insurance
An annual travel insurance policy isn’t designed to cover a single long-term trip, but rather offers you protection for multiple trips over a 12-month period. Depending on the level of cover and the insurer you go with, your total travelling cover across 365 days can range from as little as 15 days up to as many as 90. If you’re a frequent flyer, it’ll generally be the best and most affordable option for your travel insurance needs.
What will my long-term travel insurance policy cover?
After you’ve determined whether to be covered by single-trip, annual or one-way travel insurance, it’s crucial to decide whether to take out comprehensive or basic cover. While comprehensive is the more expensive option, it offers more in the way of covered events, which may be especially important whilst you’re away from home on a long trip. The key areas which travel insurance covers are:
- Medical expenses: if you require emergency or general treatment while overseas, your policy can offer unlimited cover. This also extends to ambulance and airlifting costs and medical evacuation and repatriation.
- Cancellation costs: should you have to cancel part or all of your trip due to a covered event, you can claim any fees on your insurance. This also includes delays and resumption of your holiday (in some cases).
- Personal items: you’re protected against your items being damaged, lost or stolen, with policies generally allowing you to claim up to around $15,000 or more depending on the nature of the belongings insured.
- Rental car excess: if your hire car is damaged whilst you’re away from home, you can claim the excess paid to the rental company.
- Personal liability: should you be found liable for an injury to someone or damage to their property, your comprehensive travel insurance policy can offer financial cover up to $5 million in some cases.
In contrast, basic insurance generally only covers medical costs and personal liability (with cover for your belongings able to be added with some insurers). Many insurers these days will also offer cover for medical and cancellation costs associated with COVID-19, so you can be covered for certain costs should you test positive or become a close contact.
On top of these, you can also add cover for adventure activities such as scuba diving, rock climbing, snowboarding and skiing cover. This will, in most cases, cost you an added premium, but will enable you to make a claim should you suffer an injury on the water or in the snow.
How should I compare long-term travel insurance policies?
When comparing your options with Savvy, there are many factors to bear in mind to help you lock in the best long-term travel insurance policy for your needs. Some of the key areas to consider when comparing travel insurance include:
- Cost of premiums: while cost isn’t the most important factor to think about, it’s important to not overpay for your policy. Getting insured is about striking the right balance between cost and cover, which is especially important when you’re taking out a long-term policy (which naturally costs more).
- Inclusions and exclusions: when comparing policies, always make sure that they offer the cover you need for your holiday. Find out if there are any exclusions (such as particular pre-existing conditions) which may affect you before committing to your purchase.
- Maximum coverage: for any long-term travel, it’s important to ensure you’re covered for the period required. While some policies will max out at 12 months, others will enable you to maintain the same policy for 18 to 24 overall.
- Countries covered: not all countries will be covered by all insurers, so make sure each stop along your journey qualifies for coverage. It’s also important to bear in mind which countries are eligible for a policy extension, as there may only be a select few available for you to do so if you wish to keep the door open for a longer trip.
- Optional extras: if you’re planning on travelling to Japan for some skiing or scuba diving along the Great Barrier Reef, it’s worth checking each insurer’s optional extras to see what you’ll be covered for.
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.