The great travel insurance shake-up

The great travel insurance shake-up

If you are after great value travel insurance for you and your family, go online, that’s the clear verdict from the results of Mozo’s inaugural Experts Choice Travel Insurance Awards.

With a meticulous eye, Mozo’s experts analysed and compared 57 travel insurance providers for 133 international travel insurance policies, with the aim of showcasing the best basic and comprehensive policies out there for singles and families.

Our research showed online providers are delivering standout value compared to in-store bought travel insurance policies with all top awards claimed by online providers. These travel insurance policies are underwritten by Allianz, Mitsui Sumitomo Insurance, Lloyd’s, SCBL and ACE to give you peace of mind when you jet-set overseas.

Basic travel insurance at a glance

As the name suggests, basic cover generally provides you with the essentials, such as medical cover and personal liability. Some policies will also have minimum coverage for personal effects.

Who’s it good for? If you’re travelling overseas and are staying in the one location – say lounging by the pool at a resort – for a short period of time and are looking to cut costs, basic travel insurance may tick the boxes for your trip.

PROS

CONS

– wallet-friendly price

– great for those that just want medical cover

– usually doesn’t include luggage & personal effects cover

– pre existing conditions generally not covered

Best value basic travel insurance

Mozo’s Experts Choice Award winners for best value basic cover for singles and families are:

Gold Winner: Insure&Go One Trip Bare Essentials – unlimited overseas medical cover, $2,000 luggage and personal effects cover per person, $1,500,000 personal liability, $100 excess.

Silver Winner: 1Cover Basic – unlimited overseas medical cover and $5,000,000 personal liability, $100 excess.

Bronze Winner: Worldcare Budget – unlimited overseas medical and $5,000,000 personal liability, $100 excess.

Comprehensive travel insurance at a glance

Comprehensive cover usually includes unlimited medical, luggage and personal effects, loss of income, trip amendment or cancellation, rental car excess, cash, personal liability and much more…

Who’s it good for? Globetrotters, if you’re jet-setting overseas for an extended period of time and are staying in more than one location, comprehensive travel insurance should fit all your travel insurance needs. If you have a pre existing condition you’ll also need a comprehensive policy but there are some exclusions so always check with the insurer to ensure that your exact condition will be covered for your trip.

PROS

CONS

– usually has unlimited medical cover

– high luggage and personal effects cover

– cover for pre existing conditions

– peace of mind

– can be more expensive

– paying for things you won’t use

Best value comprehensive travel insurance

Mozo’s Experts Choice Award winners for best value comprehensive cover for singles and families are:

Gold Winner: Southern Cross Travel Insurance TravelCare – unlimited overseas medical expenses, $25,000 ($50,000 family) luggage and personal effects cover and $50,000 ($100,000 family) cancellation fees cover, $100 excess.

Silver Winner: Worldcare Comprehensive – unlimited overseas medical cover, $12,000 ($24,000 family) luggage and personal effects and unlimited cancellation fees cover, $100 excess.

Bronze Winner: 1300 Travel Insurance Comprehensive – unlimited overseas medical cover, $7,500 ($15,000 family) luggage and personal effects, and unlimited cancellation fees cover, $100 excess.

Holiday-goers and world nomads, once you’ve decided which travel insurance bracket you fall under, search Mozo’s online travel insurance market to find the best value policy for your trip. Remember to always read the fineprint!

See all the travel insurance winners and runners up at the Mozo Experts Choice Travel Insurance Awards hub here.

The great travel insurance shake-up was last modified: June 29, 2015 by Mozo

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5 Comments - Write a Comment

  1. Could be really useful if you could also make a similar comparison between the ‘free’ travel insurance products offered by the various credit card products.

    For many people, the quality of the travel insurance offered by the card will be a major buying decision when choosing their card.

    Reply
    1. Mozo

      Glad you asked that question Michael as we wrote a story on just that a couple of months ago. Click here to read our write-up on complimentary travel insurance from premium credit cards.

      Reply
  2. Why have you not put down anything about the FREE travel insurance that comes with some credit cards? I’d like to see these insurances compared. If Mozo is about saving us money, it doesn’t get much better than FREE – but of course it depends on the conditions, and the quality of the coverage. Noone compares these yet.

    Reply
  3. 86 year old boy -avoiding strokes by using warfarine for the last 5 years-having no probles.cut the grass at my place etc.
    83 year old wife has a sore back,but does the home work,great Hungarian cooking for us and large family
    Had a CBA gold card till last year-used it to go to Europe(mostly France and Italy,Spain) yearly 7 times-no health claims.
    The insurer (Zurich) does not take private insurance,so what can you offer?
    If any,send an e-mail.
    Regards
    Lew and Edith.

    Reply

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