The Travel Insured Guide to Comparing Travel Insurance Benefits
A comprehensive comparison guide to select the right benefits and limits on your next travel cover.
Summary of topics to be covered: (Click or tap the text to jump to a specific section)
- Information needed to start a quote – and why we need it.
- One included benefit for international trips
- Choosing the right Excess Amount
- Full list of available policy benefits and limits
- Comparing benefits: Trip Cancellation and Interruption vs Travel Delay
- Pricing 101: The how and why behind benefit prices
Getting Started: Breaking Down the Quote Process and Eligibility Requirements
We need some information from you first in order to give you a price for cover.
It might seem basic and obvious to most travellers, but it is important to know the “why” behind the process for travel insurance quote generation.
To originate a quote, we require three basic entries (all of which will also impact the price of your policy – more on that later):
- Trip start and trip end date, aka travel duration. Simply put, we need to know how many days you will be travelling for. The dates you’ll put here, at least for an international trip, reflect your flight departure and return dates to Australia.
- Destination(s) during your trip. Most of you will likely select Bali, Thailand, or Europe, but the reality is, some destinations around the world present more risk than others.
- Your age and the age of other travellers on the policy. Age and number of insureds will have an important impact on the total price of a policy.
Before even starting the quote process, it’s important to know minimum eligibility to qualify for cover. Here’s what you need to know:
- Primary insured on the policy must be 18 years old, meaning, all minors (0-17) must be added travellers to a policy of a person 18 or over.
- The age limit tops out at 99 years old. We are not able to insure any traveller over 99.
- All travellers on the policy must be Australian residents.
- You have not commenced your trip, meaning, cover cannot be purchased post-departure.
Here’s a quick visual aid of a completed quote entry form:
The One Included Benefit on Every International Policy: Overseas Travel Medical Insurance
All the other benefits available are technically optional – but medical cover is included by default.
Think of travel medical cover (for overseas travel policies) as the foundation to building your ideal protection plan. It is arguably the most important of all the available benefits, mainly due to high healthcare costs in other countries.
Don’t take our word for it: here’s what Smartraveller had to say about this benefit:
“Medical assistance is usually the highest unexpected cost for Australians overseas, and most countries won’t provide free or subsidised care to foreign visitors. Consider travel medical insurance as essential as your passport – you wouldn’t travel without one, and you shouldn’t travel without the other.”
Australian Medicare Doesn’t Cover You Overseas
The harsh reality is, Medicare provides zero coverage when you’re outside Australia and, without proper international medical cover, you’ll pay full price for all medical treatment abroad.
The other reality is, according to Australia Post research, 43% of Australian travellers incorrectly believe Medicare or the Australian government will cover overseas medical expenses.
Here’s What you Should Know about Travel Insured’s Travel Medical (Benefit) Package
- It provides unlimited cover (up to 12 months) for the treatment of an overseas medical emergency during your trip.
- It also includes cover for transportation costs to the nearest adequate medical facility or home in the event of an overseas medical emergency during the trip.
Can you see why we decided to make this the foundational benefit for our international travel policies? If you decide to not select the trip cancellation (and interruption) benefit package and must cancel a non-refundable trip, you’ll likely won’t see that money again.
Key takeaway: If you decided to not purchase an international policy (inclusive of travel medical cover) all together leaving you completely uninsured, the cost of a medical emergency type of event or emergency transportation is oftentimes a multiple-digit number.
Explore benefit pricing examples before starting your next quote.
How to Pick the Right Excess Amount
There are four options to choose from that correspond with select policy beneifts.
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Firstly, if you’re new to travel insurance in Australia, an excess amount is the amount you (the covered insured) contribute, per person, per event, in the event of a claim for benefits such as:
- Emergency Medical and additional expenses (apart from Funeral Expenses Abroad)
- Airfare reimbursement
- Cancellation or trip interruption
- Luggage and personal effects
This, of course, is subject to the nature of the specific claim that is made and if the claim is payable for a covered reason.
As previously mentioned, there are four excess amount options to choose from when buying an international policy – and the one you select will have an impact on the total cost of your policy.
Let’s use the quote example below to show how to change the excess amount and the pricing impact it has.
This quote example features one traveller on the policy who is 37 years old travelling to Bali on a 7-day trip during the middle of July. For simplicity in demonstration, the only benefit selected on this example quote is the travel medical package.
By default, the quote automatically pre-selects the $100 excess amount. Watch below to see how changing the excess amount impacts the price of the policy.
Main takeaway? If you opt for a $0 excess amount, the policy will be more expensive because you (the insured) are not financially obligated to contribute to any claim, should one arise.
For this specific quote example, here’s a quick written out breakdown in the price difference:
- $100 excess amount (default selection): $57.24
- $0 excess amount: $63.60 (+$6.36 more compared to $100 excess)
- $250 excess amount: $44.52 (-$12.72 less compared to $100 excess)
- $500 excess amount: $40.07 (-$17.17 less compared to $100 excess)
The choice is ultimately yours to make, as you consider your financial situation and circumstances.
Seen enough yet? Start building your custom policy now.
Here’s the Full List of Available Travel Insurance Benefits with Limits
Let’s get into the real reason you here – to take the complexity out of Australian travel insurance.
If you’ve never gone through the quote process to obtain an international travel insurance policy with Travel Insured before, there are two things you should know upfront:
- Other than the travel medical package, all other benefits are what we in the insurance industry call modular – meaning, a la carte – meaning, unbundled from each other – meaning, you pick and choose only the benefits you want … you get the idea.
- After you enter your information to see a price for travel insurance, certain benefits are pre-selected and require your review as you consider the needs of your overseas trip. You, the insured, of course have the option to remove these pre-selected benefits, adjust the limits on the pre-selected ones, or add other relevant benefits that might align with your specific trip needs.
Which benefits are pre-selected for Travel Insured’s international policies?
Other than international travel medical cover, here are the pre-selected benefits:
- Trip Cancellation and Interruption Package (Sum insured of $3,000)
- Travel Delay (Sum insured of $2,000)
- Personal Accident (Sum insured of $50,000)
- Personal Liability (Sum insured of $2,500,000)
- Baggage Protection (Sum insured of $1,000)
Every trip is different and at Travel Insured, we believe in providing travellers with ultimate flexibility to decide what is best from them and their unique trip.
Full List of Available Benefits and Limits, with Range of Benefit Limit Options, Where Applicable
Now that we’ve covered what to expect when getting a travel insurance quote at Travel Insured, let’s get more granular on a per benefit basis.
Already have a benefit in mind? Jump to a specific benefit section by clicking or tapping on the text below.
Benefit #1: Travel Medical Package 🏥
We’ll keep this one brief because it’s already been covered. Travel medical cover is the only non-optional benefit on an international policy. Conversely, if you’re buying cover for a domestic trip, travel medical is not offered at all. Why? This is because of the fact that you should be covered by Medicare or your health fund whilst travelling in your home country.
In case you missed the section above on travel medical insurance, this is an unlimited benefit for up to 12 months for the treatment of a medical emergency and includes cover for transportation costs to the nearest adequate medical facility or home in the event of a medical emergency during the trip.
Don’t forget! This is one of the benefits where choosing the right excess amounts is important!
Benefit #2: Trip Cancellation and Interruption Package 🚫
Here is the official compliance-approved definition of this benefit package:
Coverage for your pre-paid, non-refundable trip costs if you need to cancel or interrupt your trip for a covered reason. For instance, if you become sick with COVID-19 before your departure date, this provides a per person benefit up to the maximum of your selected level of cover.
“Your selected level of cover” is the aforementioned sum insured amount that is pre-selected at $3,000 (for this specific benefit) for you and anyone else covered on the policy. For example, if your policy includes yourself plus three other people, each person has $3,000 of trip cancellation and interruption cover. This assumes that each person has that much trip cost to insure.
This benefit can be removed all together, or you can adjust the sum insured amount. Here are the sum insured options available ranging from low to high:
- No cover, $1,000, $2,000, $2,500 $3,000, $4,000, $5,000, and $6,000
- $8,000
- $10,000
- $15,000
- $20,000
- $30,000
- $40,000
We’ll get into pricing of this benefit in a later section, but it doesn’t take a rocket scientist to understand that you’ll pay more for a policy by selecting a higher sum insured limit – that goes for all benefits where sum insured limits have varying ranges to choose from.
Benefit #3: Travel Delay Package ⌚️
Here is the official compliance-approved definition of the travel delay package:
Up to $200 per day and $2,000 per trip towards the cost of accommodation when you are unexpectedly delayed for more than 6 hours.
This is definitely one of those “glad to have” trip inconvenience benefits in the event of severe delay. If you’ve ever been stranded at a gate enduring a lengthy delay, you know what we mean.
This benefit also has a sum insured limit for you and other travellers on the order. The quote will pre-select this benefit by default with a sum insured amount of $2,000.
However, you have the option to remove or adjust the sum insured to the amount of $1,000.
We’ll get into pricing in a later section, but don’t expect pricing to change too much by removing or changing the $2,000 sum insured limit … this is one of the least expensive benefits found on our international policy.
Benefit #4: Personal Accident
Here is the official compliance-approved definition of the personal accident benefit:
Coverage up to $50,000 if you suffer accidental bodily injury during the trip which is direct cause of your death or permanent total disablement.
It’s important to understand the difference between the personal accident benefit and travel medical package benefit. In the United States market, where Travel Insured also operates, we have a similar benefit called Accidental Death and Dismemberment, oftentimes referred to as AD&D.
The personal accident benefit, while named differently in Australia, is similar. Essentially, this benefit is a financial safeguard in the event of an accident occurring during your trip that results in death or permanent disablement.
While morbid to think about, it’s basically “travel life insurance.”
This benefit also has a sum insured limit for you and other travellers on the order. The quote will pre-select this benefit by default with a sum insured amount of $50,000.
However, you have the option to remove or adjust the sum insured to the amount of $10,000.
For further context, using the quote example above for the 37 year old solo traveller going to Bali for 7 days, the cost of this benefit (alone) using the $50,000 sum insured amount is … $0.10.
Benefit #5: Personal Liability
Here is the official compliance-approved definition of the personal liability benefit:
Coverage up to $2,500,000 if your negligence during the trip causes property damage or personal injury.
People mess up sometimes. That’s just a fact of life. And that reality doesn’t change in a different location whilst travelling.
During a trip, if an insured’s failure to take proper care results in property damage or (another person’s) personal injury, the personal liability acts as a safety net.
This benefit also has a sum insured limit for you and other travellers on the order. The quote will pre-select this benefit by default with a sum insured amount of $2,500,000.
However, you have the option to remove or adjust the sum insured to the amount of $1,000,000.
For further context, using the quote example above for the 37 year old solo traveller going to Bali for 7 days, the cost of this benefit (alone) using the $2,500,000 sum insured amount is … $2.00.
Benefit #6: Baggage Protection 🧳
Here is the official compliance-approved definition of the baggage protection package:
Up to $2,000 per item, to an overall maximum selected of $10,000 for baggage that is damaged, stolen or accidentally lost during your trip. This pack also includes up to $300 for essential purchases when your luggage is delayed or misplaced for more than 12 hours.
Like travel delay, this is another trip inconvenience benefit that could really come in handy.
Airlines are nowhere near perfect and the handling of checked baggage can sometimes fail, with you, the traveller, stuck in the middle dealing with the aftermath.
The baggage protection (also commonly referred to as luggage or personal effects) benefit has a sum insured limit for you and other travellers on the order. The original quote (you’ll see) will pre-select this benefit by default with a sum insured amount of $1,000.
However, you have the option to remove or adjust the sum insured to as high as $10,000.
And if you happen to select a sum insured limit of $10,000 for baggage protection, please take us with you because we have to imagine with that much baggage protection you’re going somewhere epic.
5 Specialty Add-On Benefits Available 🚗 🎿 🏍️ 🛳️ 🐶
The previous six benefits reviewed are what we generally refer to as base policy benefits. The ones that are most well-known and standard for Australians.
We recognize that some trips are different than others and other lesser known benefits may make sense to consider, especially depending on the time of year of travel and type of trip booked.
Here are the five add-on benefits available to Travel Insured travellers when buying cover.
Vehicle Rental Damage
Sum insured options:
- $6,000
- $8,000
Who is this benefit for?
Travellers who have or are planning to hire an automobile during their trip.
What’s covered
We’ll pay up to the maximum limit of $8,000 (if chosen by the insured) for:
Rental vehicle insurance excess or repair costs (whichever is lower) you’re liable for if the rental vehicle is damaged or stolen while in your control during the trip; or
Cost of returning your rental vehicle to the nearest depot, including related airport concession charges, if you can’t return the vehicle due to an event covered by this policy.
Snow Package
What’s covered
Notwithstanding the Snow Sports general exclusion, we’ll pay up to the amount shown in the Schedule of Benefits for the relevant coverage section for claims relating to, or while participating in snow sport activities during the trip.
For example, in the event of an injury whilst skiing that requires a change to your prepaid travel plans, we will pay up to the limit applicable where you have selected Cancellation or trip interruption cover.
Cover for pre-paid costs
We’ll pay for non-refundable, pre-paid ski lift passes, snow sport equipment, hire or tuition fees you can’t use due to injury or illness sustained during your trip.
The maximum amount payable for each insured person is $300.
Cover for ski run closure
We’ll pay if you’re prevented from skiing at a pre-booked ski resort for more than 24 continuous hours during your trip due to insufficient snow or too much snow causing a total closure of the lift system.
We’ll pay a daily benefit for each insured person of $100 up to a maximum amount payable of $500.
Cover for hiring replacement snow sports equipment
If your snow sports equipment is lost, delayed or damaged during the trip, we’ll pay the necessary cost of hiring replacement equipment. All claims must be supported by receipts.
The maximum amount payable for each insured person is $300.
Motorcycle / Moped Pack
- the engine capacity is greater than 250cc;
- you don’t hold a valid Australian motorcycle licence or Australian motor vehicle driver licence;
- you don’t hold a valid licence in the country where you are riding;
- you’re riding without a helmet;
- you’re participating in a professional capacity;
- you’re racing; or
- you’re participating in motocross.
Cruise Pack
Who is this benefit for?
Pretty simple really: we recommend considering this benefit if you have booked a trip that includes a voyage out at sea via a multi-night cruise.
Here’s an example of what’s covered:
In the event of an illness requiring cabin confinement, we’ll pay up to the limits applicable for Hospital benefit and confinement.
How much does this benefit cost?
This, of course, depends on several different factors. Using the quote example from previous sections (37 year old solo traveller taking a 7-day trip to Bali during mid-July), this cruise pack benefit would cost this traveller $82.67.
Pet Boarding
Who is this benefit for?
Not sure this needs an elaborate explanation! If you’re a pet owner and plan to board your animals whilst travelling without them, this one is for you.
Here’s an example of what’s covered:
Cover applies under this benefit if your return to Australia is delayed for at least 24 hours, due to reasons beyond your control.
We’ll pay up to the amount of $1,400 (maximum) for additional kennel or cattery boarding fees for domestic cats and dogs owned by you.
How much does this benefit cost?
This, of course, depends on several different factors. Using the quote example from previous sections (37 year old solo traveller taking a 7-day trip to Bali during mid-July), this pet boarding benefit would only cost this traveller $1.63.
Similar to previous benefit sections, here is a quick quote simulation only calling attention to the specialty benefits when added to a policy.
One benefit included by default. Five optional but standard benefits with custom limits to choose from. And five specialty add-on benefits to cover more unique types of trips.
Trip Cancellation and Interruption vs Travel Delay
Breaking down the differences between two popular benefit choices.
Comparison #1:
Difference in benefit description
Trip Cancellation and Interruption:
Coverage for your pre-paid, non-refundable trip costs if you need to cancel or interrupt your trip for a covered reason, providing a per person (sum insured) benefit up to the maximum of your selected level of cover.
Travel Delay
Up to $200 per day and $2,000 (maximum per person / sum insured limit) per trip towards the cost of accommodation when you are unexpectedly delayed for more than 6 hours.
Let’s break it down
To insurance people, there’s a clear and obvious delineation between these options. But when you start interchanging words like cancel, interrupt, and delay, there’s bound to be some level of traveller confusion. Here is a simplified breakdown:
- Cancellation is a pre-departure benefit.
- Delay is a during the trip benefit for departing and returning flights.
- Interruption is a during the trip benefit.
Comparison #2:
Common scenarios when adding each benefit might makes sense
Adding trip cancellation and interruption to a policy could makes sense if:
- Your airfare is a non-refundable rate
- You’re travelling to a higher risk or unfamiliar destination
- You’re travelling during peak holiday seasons
- Not being reimbursed the total non-refundable cost of your trip would cause financial strain
Adding travel delay to a policy could makes sense if:
- You’re flying on an airline prone to delays
- You’re flying on an airline that historically has operations issues
- You’re flying to an airport (connection or final destination) prone to high traffic or operations issues
- You’re travelling during peak holiday seasons
In summary, the choice is ultimately yours on deciding whether to add these benefits or not! But hopefully this information will help you make the right decision.
A Simple Guide to How Benefits are Priced
Travel Insured trip insurance pricing 101.
While there are several rating factors working behind the scenes to determine benefit prices, here are the factors that will have the most significant impact as you decide which benefits to include and which limits to select to determine the total cost of a Travel Insured international policy.
Age of Insured(s)
Why is length of trip a factor in determining price?
- Age is one of the key factors used to determine the price of a travel protection plan because, statistically, the likelihood of needing emergency medical treatment or making a claim increases as we get older. This means there’s a higher risk for the insurer, which affects the cost of providing cover.
- Just like car insurance costs more for younger drivers due to higher risk, travel insurance is priced based on the expected level of risk — and age plays a big role in that.
Number of Insureds
Why is number of insureds a factor in determining price?
- This one should be more self-explanatory. The total cost of an order will increase the more people you add to it.
Length of Trip
Why is length of trip a factor in determining price?
- In the insurance world, we refer to this as number of coverage days, meaning, how many total (trip duration) days of cover are there to insure? From a travel medical perspective, longer duration trips mean more risk of a potential accident or emergency.
- In other words, your 7 day trip to Bali would be priced lower compared to a 21 day trip to Thailand.
Benefit Limit
Why is benefit limit a factor in determining price?
- For the benefits that have customisable limit options, the price for that benefit will change depending on the limit (maximum) selected.
- For example, if you paid more for a trip above the pre-selected trip cancellation and interruption limit of $3,000 per traveller and wish to keep that benefit and increase the limit, the cost of your policy will go up, as well.
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