You don’t need to break the bank to get comprehensive travel insurance. In fact, a single adult traveller could comprehensively cover their trip for less than $50*, while a family could potentially take out a comprehensive policy for less than $91**!
*Based on a quote for a single adult travelling to New Zealand for seven days in July 2022.
**Based on a quote for a family of two adults and two children travelling to New Zealand for seven days in July 2022.
The cost of your policy can depend on a few factors that might affect the cost of your travel insurance.
A comprehensive plan will always cover you to a greater extent than basic travel insurance. If you’re a budget traveller planning international travel, a basic medical-only policy is a popular choice as it generally covers all your medical expenses. But before just choosing the cheapest option, consider your individual circumstances.
There are three main reasons you might want to consider a comprehensive policy:
If your destination is known for frequent travel delays, bad weather, natural disasters or higher crime rates, you may want the protection of a comprehensive policy. Preparing for the unexpected keeps you from paying hundreds or thousands out of pocket on re-booking flights and accommodation, replacing stolen belongings or wasting unused tickets.
You never know when something might go wrong on a trip, so an important reason you might consider a comprehensive plan is if you want trip delay and cancellation cover. A basic policy may sometimes cover some expenses, but comprehensive cover will grant you greater claim limits. In addition, you can also be covered for property damage or loss, higher levels of medical assistance, personal liability and more.
A comprehensive travel insurance policy will have higher claim limits with fewer conditions. This can be particularly helpful if you’re travelling with valuable items and need a higher limit for lost or stolen belongings. Or, if other unexpected additional expenses arise that you need compensation for.
Every travel insurance policy is different, so be sure to read the PDS to understand the extent of your cover.
While comprehensive travel insurance may be more expensive than a basic medical-only policy, you can still find good deals. If you don’t want to compromise on cover but don’t want to hurt your wallet either, consider: