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.
Table of Contents
Top 5 Travel Insurance Providers in Australia in 2023
| Rank | Travel Insurance Provider | Policy Highlights |
|---|---|---|
| 1 | World2Cover | Unlimited 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. |
| 2 | Travel Insurance Saver | Unlimited coverage for medical expenses incurred overseas. Up to $2,500 in emergency cancellation coverage and $2,000 for lost luggage and personal effects. |
| 3 | Cover-More | Impressive benefits and coverage options. Up to $25,000 for lost or stolen luggage. Unlimited coverage for overseas medical expenses. Special business trip benefits. |
| 4 | Southern Cross Travel Insurance | Impressive standard features such as unlimited medical and evacuation coverage. Optional extras such as snow sports and motorcycle covers. |
| 5 | Fast Cover | Comprehensive 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 Provider | Key Features and Benefits | Notable Exclusions |
|---|---|---|
| World2Cover | Unlimited coverage for emergencies, cancellations, and medical expenses | Pre-existing medical conditions must be declared and approved in advance |
| Coverage for 38 pre-existing medical conditions, including migraines and sleep apnea | No coverage for travel to countries with a DFAT “do not travel” advisory | |
| Rental car excess and up to $2,000 for overseas dental treatment | No 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 Saver | Unlimited coverage for medical expenses incurred overseas | No coverage for travel to countries with a DFAT “reconsider your need to travel” advisory |
| Up to $2,500 in emergency cancellation coverage | No coverage for pre-existing medical conditions unless declared and approved | |
| Up to $2,000 for lost luggage and personal effects | No coverage for some extreme sports, such as rock climbing | |
| Additional coverage for replacement passport and travel document expenses | ||
| Cover-More | Comprehensive coverage for a range of misadventures, including pre-trip cancellation and on-trip disruptions | No coverage for travel to countries with a DFAT “do not travel” advisory |
| Up to $25,000 for lost or stolen luggage | No coverage for some extreme sports, such as bungee jumping | |
| Unlimited coverage for overseas medical expenses | No coverage for pre-existing medical conditions unless declared and approved | |
| Optional extras, such as cancellations extensions, to extend coverage | ||
| Southern Cross Travel Insurance | Unlimited medical and evacuation coverage | No coverage for travel to countries with a DFAT “do not travel” advisory |
| Optional unlimited cancellation coverage for higher premium | No coverage for pre-existing medical conditions unless declared and approved | |
| Optional extras, such as snow sports and motorcycle covers | ||
| Fast Cover | Comprehensive policy with unlimited medical and cancellation coverage | No coverage for travel to countries with a DFAT “do not travel” advisory |
| Flexible options to tailor coverage to trip duration, region, and activities | No coverage for some extreme sports, such as mountain biking | |
| Optional extras, such as cruise, motorcycle, and adventure covers | No 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.
