Best Australian Travel Insurance Providers (2024)

In today's dynamic world of travel, securing the right travel insurance is more than just a precaution; it's a necessity. This comprehensive guide delves into the intricate world of travel insurance, spotlighting key players in the Australian market and their unique offerings. From Fast Cover's tailored policies for Australian residents to Cover-More's extensive experience and diverse plan options, we explore what sets each provider apart. We also examine 1Cover's focus on comprehensive coverage and emergency assistance, and Southern Cross Travel Insurance's commitment to customer satisfaction and policy transparency. Additionally, we look at Freely's global approach and the mixed customer feedback it receives. This guide is designed to navigate you through the nuances of policy selection, customer experiences, and the comparative advantages of these top Australian travel insurance providers, ensuring you make an informed decision for your next journey.

Fast Cover Website Overview

Fast Cover specializes in travel insurance, offering policies for both domestic and international trips. Their services are tailored to Australian residents, including Australian citizens and permanent residents, with a requirement for a valid Australian Medicare Card. They provide a range of travel insurance options, including single trip and frequent traveler policies, and cover various types of vacations like road trips, cruises, skiing, and family holidays.

Key Features:

• COVID-19 Coverage: Fast Cover includes specific provisions for COVID-19 related claims, with a 72-hour no cover period for COVID-19 related claims and a 48-hour period for non-COVID-19 claims.
• Awards and Recognition: The company has received multiple awards for their travel insurance services, including the Travel Insurance Award 2022 & 2023 and the Winner Travel Insurance of the Year 2022 & 2023.
• Australian Based: The company is Australian-owned and operated, with all their specialist sales and claims teams based in Australia.
• Variety of Policies: They offer insurance for different types of trips and travelers, including seniors up to 89 years of age, and provide unlimited medical assistance and cover.

Customer Reviews from ProductReview.com.au

Fast Cover Travel Insurance has a high rating of 4.6 out of 5 stars from 2,092 reviews on Australia's largest opinion site, ProductReview.com.au. The reviews highlight several positive aspects:

• High Satisfaction: 94% of the reviews are positive, indicating a high level of customer satisfaction.
• Value for Money: Customers rate the value for money at 4.5, suggesting that the premiums are competitive and reasonable.
• Customer Service: The customer service is highly rated at 4.6, with many customers appreciating the friendly and helpful staff.
• Claim Resolution Time: The time taken to resolve claims varies, with some resolved in less than a week, while others take longer.
• Ease of Use: The website and application process are user-friendly, making it easy for customers to purchase and manage their policies.

Insights and Considerations

1. Customization and Flexibility: How does Fast Cover tailor its policies to meet the diverse needs of different travelers, especially in the context of varying travel destinations and activities?
2. Claims Process: What are the experiences of customers who have had to make claims, especially in emergency situations or for complex issues?
3. Competitive Edge: How does Fast Cover's offerings compare with other travel insurance providers in terms of coverage options, pricing, and customer service?

Cover-More Website Overview

Cover-More offers a range of travel insurance policies for Australian residents, including international and domestic travel, single trips, and annual multi-trips. They provide coverage for COVID-19-related medical costs, amendment, and cancellation costs, among other benefits.

Key Features:

• COVID-19 Coverage: Cover-More includes cover for COVID-19-related overseas medical costs, amendment, and cancellation costs, with specific conditions and exclusions.
• Variety of Plans: They offer different levels of coverage, including Comprehensive+, Basic, and Comprehensive plans, each with varying benefits and limits.
• Additional Coverage Options: The policies cover a range of scenarios, including adventure activities, cruises, snow sports, and motorcycle/moped riding.
• Customer Support: Cover-More emphasizes their 35+ years of experience and offers 24/7 emergency assistance.

Customer Reviews from ProductReview.com.au

Cover-More Travel Insurance has an average rating of 3.3 out of 5 stars from 2,880 reviews on ProductReview.com.au. The reviews present a mixed picture:

• Customer Satisfaction: 57% of the reviews are positive, but there is a significant 41% of negative reviews.
• Value for Money: The value for money is rated at 2.2, indicating some concerns about the cost-effectiveness of their policies.
• Customer Service: Customer service is rated at 2.1, with mixed feedback regarding the helpfulness and efficiency of the support team.
• Claim Resolution Time: There are varied experiences with claim resolution times, with some claims taking longer than expected.
• Ease of Application: The process of applying for a policy is generally found to be easy by customers.

Insights and Considerations

1. Policy Clarity and Transparency: How clear and understandable are Cover-More's policy documents and terms, especially in relation to COVID-19 coverage and exclusions?
2. Claims Processing Experience: What are the common challenges faced by customers during the claim process, and how effectively does Cover-More address these issues?
3. Comparative Analysis: How does Cover-More's offerings, customer service, and claim handling compare with other travel insurance providers in the market?

1Cover Website Overview

1Cover Travel Insurance offers comprehensive travel insurance with a focus on providing 24/7 emergency assistance services. Their policies cover overseas medical and hospital expenses, luggage, cancellation benefits, and more. They also include medical cover for COVID-19.

Key Features:

• COVID-19 Coverage: 1Cover includes overseas medical cover for COVID-19 but not for trip cancellation due to COVID-19.
• Range of Policies: They offer annual multi-trip policies, ski cover, domestic cover, cruise insurance, and cover for those already overseas.
• Additional Benefits: Their policies provide unlimited overseas medical assistance, cancellation cover, luggage and personal effects cover, car rental excess, additional expenses, and credit card fraud cover.
• Customer Feedback: 1Cover is rated 4.2 out of 5 based on over 1639 reviews, indicating a positive customer response.

Customer Reviews from ProductReview.com.au

1Cover Travel Insurance has a high rating of 4.3 out of 5 stars from 4,750 reviews on ProductReview.com.au. The reviews highlight several aspects:

• High Satisfaction: 84% of the reviews are positive, suggesting a strong level of customer satisfaction.
• Value for Money: The value for money is rated at 3.7, indicating that most customers find their policies to be cost-effective.
• Customer Service: Customer service is rated at 3.6, with many customers appreciating the support provided, especially in emergency situations.
• Claim Resolution Time: The time taken to resolve claims varies, with some resolved in less than a week, while others take longer.
• Ease of Use: The process of applying for a policy and making claims is generally found to be user-friendly by customers.

Insights and Considerations

1. Policy Clarity and Coverage: How well does 1Cover communicate the details of their coverage, especially regarding COVID-19 related policies and exclusions?
2. Claims Processing Experience: What are the experiences of customers who have had to make claims, particularly in terms of efficiency and support provided?
3. Competitive Edge: How does 1Cover's offerings, customer service, and claim handling compare with other travel insurance providers in terms of value for money and customer satisfaction?

1Cover Travel Insurance appears to be well-received by customers, with high ratings for customer service and value for money. Their comprehensive coverage, including for COVID-19 medical expenses, and a variety of policy options cater to a broad range of travel insurance needs. Enhancing clarity around policy details, especially for COVID-19 related cancellations, could further improve customer satisfaction and trust.

Southern Cross Travel Insurance Website Overview

Southern Cross Travel Insurance offers a range of travel insurance policies designed to cater to various travel needs. They emphasize their commitment to providing 24/7 emergency assistance and a high rate of claim approvals.

Key Features:

• COVID-19 Coverage: SCTI provides information about their cover for COVID-19, which is a crucial aspect for travelers in the current climate.
• Variety of Policies: They offer International Comprehensive, Annual Multi-trip, International Medical Only, Domestic, and Working Overseas insurance policies.
• Claims Approval Rate: They highlight a 96% claim approval rate, indicating a high level of customer satisfaction in this area.
• Emergency Assistance: 24/7 emergency assistance is a key feature, providing travelers with support whenever and wherever needed.
• Self-Underwritten Policies: Unlike many insurers, SCTI underwrites their own policies, offering an end-to-end service.

Customer Reviews from ProductReview.com.au

Southern Cross Travel Insurance has an excellent rating of 4.7 out of 5 stars from 3,010 reviews on ProductReview.com.au. The reviews highlight several positive aspects:

• High Satisfaction: 93% of the reviews are positive, indicating a very high level of customer satisfaction.
• Value for Money: The value for money is rated at 4.4, suggesting that customers find their policies to be cost-effective.
• Customer Service: Customer service is highly rated at 4.4, with many customers appreciating the friendly and efficient support.
• Claim Resolution Time: The time taken to resolve claims varies, with some resolved in less than a week, while others take longer.
• Policy Transparency: Customers appreciate the transparency of SCTI's policies, which are easy to understand.

Insights and Considerations

1. Policy Clarity and Coverage: How effectively does SCTI communicate the details of their coverage, especially regarding COVID-19 related policies and exclusions?
2. Customer Support and Claims Processing: What are the experiences of customers in terms of support provided during emergencies and efficiency in claims processing?
3. Market Positioning: How does SCTI's offerings, customer service, and claim handling compare with other travel insurance providers in terms of overall customer experience and satisfaction?

Southern Cross Travel Insurance appears to be highly regarded by customers, with excellent ratings for customer service, value for money, and policy transparency. Their comprehensive coverage, including for COVID-19, and a variety of policy options cater to a wide range of travel insurance needs. Continuously maintaining high standards in customer support and claims processing will be key to sustaining their positive reputation in the travel insurance market.

Freely.me Website Overview

Freely presents itself as a travel insurance provider for the modern traveler. The website is a global homepage allowing users to choose their country of residence, indicating that Freely offers its services in multiple regions.

Key Features:

• Global Reach: Freely provides services in various countries, including the US and Australia.
• Association with Cover-More and Zurich: The website mentions that Freely is provided by Cover-More Inc., a company of Zurich, suggesting a strong backing and reliability.
• User Ratings: The site displays a high user rating of 4.8 based on 1,125 reviews, indicating positive customer feedback.

Customer Reviews from Trustpilot

Freely has an average rating of 3.4 out of 5 stars on Trustpilot, based on 28 reviews. The reviews present a mixed picture:

• Positive Reviews: 54% of the reviews are 5-star, indicating a significant portion of satisfied customers.
• Negative Reviews: 21% of the reviews are 1-star, highlighting some dissatisfaction among customers.
• Mixed Feedback: Customers have expressed both positive and negative experiences, with some praising the service and others criticizing it for various reasons, including claims handling and customer service.

Insights and Considerations

1. Customer Service and Claims Handling: What are the specific issues faced by customers who have had negative experiences, especially regarding claims processing and customer support?
2. Policy Transparency and Coverage: How clear and comprehensive are Freely's policy details, especially in terms of coverage limits and exclusions?
3. Reputation and Trust: Considering the mixed reviews, how does Freely's reputation compare with other travel insurance providers, and what steps could they take to improve customer trust and satisfaction?

Freely, backed by Cover-More and Zurich, appears to have a global presence in the travel insurance market. While there are positive customer experiences reflected in their high rating on their website, the mixed reviews on Trustpilot suggest areas for improvement, particularly in customer service and claims processing. Understanding and addressing these customer concerns could be key to enhancing their overall service quality and reputation.

Finding the Ideal Travel Insurance: A Guide

Embarking on a journey often involves uncertainty, and travel insurance acts as a crucial safety net. This guide will help you navigate the process of finding the best travel insurance to suit your needs.

Understanding Travel Insurance

Travel insurance is designed to mitigate significant financial risks during your travels. While it might not be necessary for less expensive trips, it's a valuable asset for costly, international, or unpredictable journeys, especially in the COVID-era.

In the year ending April 2021, travelers spent an average of $234 on travel insurance for trips lasting two to three weeks, as reported by Squaremouth. This cost represents just over 6% of the average trip cost.

Selecting the right insurance plan depends on various factors. Let's explore the common travel insurance needs, factors affecting costs, different insurance products, and how to get covered.

Coverage Offered by Travel Insurance

The coverage you need will dictate the type of policy you should choose. Here’s a breakdown:

• Travel Medical Plan: Covers medical expenses not included in your regular health insurance.
• Emergency Evacuation and Repatriation: Assistance if you need to be transported to a hospital or back home due to illness or injury.
• Trip Cancellation, Interruption, and Delay: Reimbursem*nt for nonrefundable reservations if you need to cancel or cut your trip short, or face delays.
• Cancel for Any Reason Coverage: Refunds nonrefundable reservations for any cancellation reason.
• Baggage and Personal Belongings: Covers lost, stolen, or damaged luggage.
• 24-Hour Assistance Services: Help with finding legal assistance abroad.
• Car Rental Collision Insurance: Covers rental car damages.

Factors Influencing Travel Insurance Costs

The cost of travel insurance varies based on:

• Trip Length and Cost: Longer and more expensive trips typically have higher insurance costs.
• Local Healthcare Costs: High healthcare costs at your destination can increase insurance prices.
• Pre-existing Medical Conditions: Existing health issues can raise the cost.
• Coverage Scope: More comprehensive policies are pricier.
• Age: Older travelers often face higher rates.
• Optional Supplements: Add-ons like "Cancel For Any Reason" can increase costs.

Types of Travel Insurance

Travel insurance is usually sold as a comprehensive package, but some providers offer customizable policies. The most common types include:

1. Travel Medical Insurance: Provides health coverage while traveling, excluding routine medical events and often certain adventure sports.
2. Trip Cancellation, Interruption, and Delay: Covers nonrefundable costs due to cancellation or delays for specific reasons.
3. Baggage and Personal Belongings: Reimburses for lost or damaged luggage and belongings.
4. Emergency Medical Assistance, Evacuation, and Repatriation: Covers medical expenses and transportation in emergencies.
5. 24-Hour Assistance: Offers around-the-clock help for various travel-related issues.
6. Accidental Death and Dismemberment Insurance: Pays a lump sum for accidental death or loss of limb, sight, speech, or hearing.
7. Rental Car Coverage: Covers damages to rental cars.

Single vs. Long-Term Policies

• Single Trip Insurance: Ideal for one-off trips, priced based on the trip cost.
• Long-Term Travel Insurance: Covers multiple trips, suitable for frequent travelers, with some limitations on trip length and coverage scope.

Acquiring Travel Insurance

When considering travel insurance, assess what coverage you already have, such as through credit cards. Then, decide on additional coverage needed. Common methods to obtain travel insurance include:

• Credit Cards: Some offer free travel insurance benefits when used for booking.
• Travel Agents and Reservation Sites: Offer easy-to-purchase insurance during booking.
• Insurance Companies: Direct purchase allows for customized policies.
• Comparison Sites: Compare different policies and quotes in one place.

Making the Right Choice

To find a policy that meets your specific needs and budget, compare offerings from various providers. Consider using comparison sites that feature a range of plans and customer reviews.

Selecting the right travel insurance involves understanding your coverage needs, comparing costs, and considering various policy types. Whether you opt for a single trip or long-term policy, ensure it aligns with your travel plans and offers the necessary protection.

FAQs on Best Australian Travel Insurance Providers

1. Which insurance is best for visitors to Australia?

The best insurance for visitors to Australia depends on individual needs, including the duration of stay, types of activities planned, and personal health considerations. Companies like Cover-More, 1Cover, and Southern Cross Travel Insurance are notable options, each offering various plans that cater to different requirements. It's important to look for policies that cover medical expenses, trip cancellations, and any specific activities you plan to engage in while in Australia.

2. What is the most reliable insurance company in Australia?

The reliability of an insurance company can be gauged by its customer service reputation, claim approval rate, and policy transparency. Southern Cross Travel Insurance is highly regarded in these aspects, as indicated by their high customer satisfaction ratings and a 96% claim approval rate. However, reliability can also be subjective based on individual experiences, so it's advisable to read customer reviews and compare different providers.

3. Who is best for travel insurance?

The best provider for travel insurance can vary based on individual travel needs and preferences. For Australian residents, Fast Cover, Cover-More, and 1Cover are among the top choices, each offering unique features and coverage options. Fast Cover is noted for its tailored policies and high customer satisfaction, while 1Cover is known for its comprehensive coverage and emergency assistance. It's essential to compare policies and consider factors like coverage extent, customer service, and ease of claim processing.

4. Is travel insurance worth it for Australia?

Yes, travel insurance is generally worth it for Australia, especially considering the unpredictable nature of travel and the potential high costs of medical care for non-residents. Insurance can cover unforeseen medical expenses, trip cancellations, lost luggage, and other emergencies. For international travelers, it's particularly important as they may not be covered by Australia's healthcare system. The peace of mind and financial protection it offers often outweigh the cost of the premium.

5. How much is travel insurance in Australia?

The cost of travel insurance in Australia varies based on several factors, including the length of the trip, the age of the traveler, the level of coverage desired, and any additional riders or coverage for specific activities. On average, travelers spent about $234 on travel insurance for trips lasting two to three weeks, as reported by Squaremouth. This cost represents approximately 6% of the average trip cost. However, prices can vary widely, so it's advisable to get quotes from multiple providers to find the best rate for your specific needs.