Top 5 Travel Insurance Providers in Australia in 2023

By | April 7, 2023

As travel restrictions are gradually being lifted worldwide, Travel Insurance Australians are eager to explore new destinations. However, it’s crucial to think about packing travel insurance before going on a trip. With so many options available, it can be challenging to find the right policy for your needs. This article provides expert tips and announces the crowned winners of the top 5 travel insurance providers in Australia in 2023.

Top 5 Travel Insurance Providers in Australia in 2023

RankTravel Insurance ProviderPolicy Highlights
1World2CoverUnlimited coverage for emergencies, cancellations, and medical expenses. Coverage for 38 pre-existing medical conditions. Includes rental car access and up to $2,000 for overseas dental treatments. Coverage for many amateur and outdoor sports activities at no extra cost.
2Travel Insurance SaverUnlimited coverage for medical expenses incurred overseas. Up to $2,500 in emergency cancellation coverage and $2,000 for lost luggage and personal effects.
3Cover-MoreImpressive benefits and coverage options. Up to $25,000 for lost or stolen luggage. Unlimited coverage for overseas medical expenses. Special business trip benefits.
4Southern Cross Travel InsuranceImpressive standard features such as unlimited medical and evacuation coverage. Optional extras such as snow sports and motorcycle covers.
5Fast CoverComprehensive travel insurance policy with great medical benefits and COVID-19 coverage. Flexible options that allow customers to tailor their coverage according to their trip duration, region, and activities.

World2Cover is crowned the winner of the prestigious travel insurance company of the year award. Their top policy offers exceptional value and quality, with unlimited coverage for emergencies, cancellations, and medical expenses. It also covers 38 pre-existing medical conditions, including migraines and sleep apnea. Furthermore, it includes rental car access and up to $2,000 for overseas dental treatments. This policy provides coverage for many amateur and outdoor sports activities, such as bungee jumping, at no extra cost.

Travel Insurance Saver, underwritten by NIP, offers the Essentials policy that stands out with unlimited coverage for medical expenses incurred overseas. It also provides up to $2,500 in emergency cancellation coverage and $2,000 for lost luggage and personal effects. When tested for a hypothetical 14-day family trip to Vietnam, the policy was deemed to provide exceptional value.

Cover-More’s Ultra comprehensive policy stands out with its impressive benefits and coverage options. The policy offers generous coverage for a range of misadventures, including pre and on-trip coverage. It also provides up to $25,000 for lost or stolen luggage, unlimited coverage for overseas medical expenses, and special business trip benefits. Customers can customize their policy with optional extras, such as the cancellations extensions add-on to extend their coverage.

Southern Cross Travel Insurance offers a single trip comprehensive insurance policy that caters to both solo and family travelers. It boasts impressive standard features, such as unlimited medical and evacuation coverage, which are sure to please. Customers can opt to increase the cancellation limit to unlimited, but this will come with a higher premium. Optional extras such as snow sports and motorcycle covers are also available. However, it’s worth noting that pre-existing conditions are not automatically covered, and customers may need to undergo a medical assessment and pay an additional premium to have them included.

Fast Cover offers a comprehensive travel insurance policy that comes with great medical benefits and COVID-19 coverage. The policy offers flexible options that allow customers to tailor their coverage according to their trip duration, region, and activities. It also provides unlimited medical and cancellation coverage. The policy includes coverage for COVID-19 with unlimited medical coverage if you contract the virus during

Travel Insurance Provider Key Features and Benefits

Travel Insurance ProviderKey Features and BenefitsNotable Exclusions
World2CoverUnlimited coverage for emergencies, cancellations, and medical expensesPre-existing medical conditions must be declared and approved in advance
Coverage for 38 pre-existing medical conditions, including migraines and sleep apneaNo coverage for travel to countries with a DFAT “do not travel” advisory
Rental car excess and up to $2,000 for overseas dental treatmentNo coverage for some extreme sports, such as skydiving
Coverage for amateur and outdoor sports activities, such as bungee jumping, at no extra cost
Travel Insurance SaverUnlimited coverage for medical expenses incurred overseasNo coverage for travel to countries with a DFAT “reconsider your need to travel” advisory
Up to $2,500 in emergency cancellation coverageNo coverage for pre-existing medical conditions unless declared and approved
Up to $2,000 for lost luggage and personal effectsNo coverage for some extreme sports, such as rock climbing
Additional coverage for replacement passport and travel document expenses
Cover-MoreComprehensive coverage for a range of misadventures, including pre-trip cancellation and on-trip disruptionsNo coverage for travel to countries with a DFAT “do not travel” advisory
Up to $25,000 for lost or stolen luggageNo coverage for some extreme sports, such as bungee jumping
Unlimited coverage for overseas medical expensesNo coverage for pre-existing medical conditions unless declared and approved
Optional extras, such as cancellations extensions, to extend coverage
Southern Cross Travel InsuranceUnlimited medical and evacuation coverageNo coverage for travel to countries with a DFAT “do not travel” advisory
Optional unlimited cancellation coverage for higher premiumNo coverage for pre-existing medical conditions unless declared and approved
Optional extras, such as snow sports and motorcycle covers
Fast CoverComprehensive policy with unlimited medical and cancellation coverageNo coverage for travel to countries with a DFAT “do not travel” advisory
Flexible options to tailor coverage to trip duration, region, and activitiesNo coverage for some extreme sports, such as mountain biking
Optional extras, such as cruise, motorcycle, and adventure coversNo coverage for pre-existing medical conditions unless declared and approved
COVID-19 coverage with unlimited medical coverage and up to $5,000 for cancellation fees

In summary, when choosing a travel insurance policy, it is important to consider the key features and benefits offered by each provider, as well as any notable exclusions or limitations. Some of the most important factors to consider include coverage for medical emergencies, cancellations, and lost luggage, as well as coverage for pre-existing medical conditions and any extreme sports or activities you plan to participate in during your trip. Additionally, it is important to carefully review the policy documentation to ensure that you understand the terms, conditions, and exclusions of your coverage.

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