How much does travel insurance cost?

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A guide on travel insurance costs

Updated March 5, 2024
Written by Tiana Lee-Collins
Reviewed by Adrian Taylor

Expert tips for choosing the right travel insurance policy that suits your budget

Our travel insurance expert, Adrian Taylor, has some first class tips for you on how to choose a suitable policy that fits your trips needs.

Adrian Taylor
Executive General Manager – General Insurance

Choose your excess

Most policies will allow you to choose the excess amount, and this will have an impact on the premium. Should you need to make a claim, the excess is the amount you need to contribute, so make sure you choose an amount that you can afford.

Customise your cover

Most policies will include options to allow you to customise your cover. You can choose to include cover for cruise and ski trips, and also include cover for any pre-existing medical conditions, although this will affect the cost of your premium.

Consider what inclusions you need

While premiums between products will differ, the cover (including the limits, benefits, exclusions and conditions) will vary. It’s always important to understand the policy to ensure you have the cover you need.

Factors affecting the cost of travel insurance

Your age

Where you plan to go

How long you’re travelling for

What level of travel cover you need

Optional extras

Do you have pre-existing medical conditions?

Your policy excess

The type of insurance you need

Which insurer you choose

How much does travel insurance cost?

Based on the above information, you can understand why it’s difficult to say exactly how much travel insurance costs, which is why travel insurance policies vary depending on a person’s individual circumstances. Change just one of the above factors, and the cost would change.

As of 7 July 2023, for a 40-year-old travelling alone on a single trip overseas to the United Kingdom from the 1st to the 15th of September 2023, there are 82 single trip policies available to them through our comparison service. A medical-only/basic policy could cost as little as $37, while a comprehensive policy is available for $94.

Meet our travel insurance expert, Adrian Taylor

Adrian Taylor
Executive General Manager – General Insurance

As the Executive General Manager of General Insurance, Adrian Taylor believes in educating customers about the importance of travel insurance so that anyone can kick back and make the most of their time away from home. While no one wants a disrupted holiday, a suitable travel insurance policy can provide a financial safety net for yourself, your belongings and your trip in case things go wrong.