How to save hundreds on travel insurance with your credit card
If you’ve got travel on your mind this year, you might have taken to pricing travel insurance policies and had a nasty shock. Finding a cheap travel insurance policy is more difficult than it once was, with the necessary coverage seriously stacking up.
But consider this: you could save hundreds of dollars with the credit card that’s already in your wallet. Many credit cards allow you to access a level of travel insurance as a cardholder benefit - which means you could already be paying for insurance that you aren’t taking advantage of.
Standalone travel insurance vs. credit card travel insurance - which is cheaper?
There’s no simple way to answer the question of which form of travel insurance is cheaper, as a lot of it will come down to circumstance. While it may seem initially cheaper to use the travel insurance included with a credit card, you might not think so once you’re stuck up in hospital with a skiing injury!
While a standalone travel insurance policy will present you with a price, it can be a little tricky to work out the cost of travel insurance on a credit card. Firstly, if you already hold a credit card with travel insurance - which covers 110 products in our database - there is no additional cost. However, travel insurance is often one of the perks that comes with a rewards credit card or a premium credit card.
It’s important to consider the annual fees of these cards, where the average annual fee of a rewards credit card in the Mozo database is $217 (compared to an average of $136 across all credit cards).
Of course, the upfront cost isn’t all there is to travel insurance.
Does credit card travel insurance work the same as taking out a travel insurance policy?
There are a few things to keep in mind if you’re weighing up using your credit card’s travel insurance rather than taking out a standalone policy. The two operate a little differently, and while credit card travel insurance may work out cheaper for you, it’s not necessarily a one-to-one comparison.
In order to qualify for travel insurance on your credit card, you will need to fulfil some requirements. This can mean paying for your full airfare on the credit card in question, or it can be as small as paying $250 of your travel expenses on the card whose insurance you’re going to use. Depending on the card, there may be other requirements regarding the length of your trip and your age.
The travel insurance included with your credit card may also fail to cover certain things, like pre-existing conditions. Check the terms and conditions to see whether you’ll be covered, or have the option of upgrading your coverage. The same goes for add-ons like cruise and skiing coverage, which are not standard to credit card travel insurance.
Remember to also check whether or not your credit card’s travel insurance covers your spouse and any dependents, as you might find that a separate policy works out to be better value once everything else is factored in.
Choosing the right travel insurance can be a big decision, but it can also mean travelling safely and comfortably - without putting your health and safety in the hands of chance.
Start comparing rewards credit cards below (and make sure to check out their travel insurance policies).
To get you in tip top travel condition, check out the Mozo picks for best travel insurance and best travel money.
Compare rewards credit cards - last updated 2 November 2024
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Citi Rewards - Rewards Points Offer
Citi Rewards Program
$199 $99 in the first year
100,000
1 point up to $10,000/month
100,000 bonus Citi reward Points when you spend $5,000 on eligible purchases within 3 months from approval. That’s $400 when you Pay with Points! Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
CompareCompareRewards - Rewards Points Offer
100,000 bonus Citi reward Points when you spend $5,000 on eligible purchases within 3 months from approval. That’s $400 when you Pay with Points! Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
- Rewards program
- Citi Rewards Program
- Annual fee
- $199 $99 in the first year
- Bonus points
- 100,000
- Earn rate per $1
- 1 point up to $10,000/month
- Intro rate
- -
- Ongoing Purchase rate
- 21.49% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- 22.24% p.a.
- Interest free days on purchases
- 44
- Foreign exchange
- 3.40%
- Late payment
- $30.00
- Points earning
- 1 point per dollar on Mastercard, up to $10,000 per month
- Reward point expiry
- Never
- Bonus points
- 100,000
- Sydney to Melbourne
- 19500.0
- Sydney to London
- 299000.0
- $100 Gift card
- 20900.0
- Card Benefits
- Travel Insurance,
Extended Warranty,
Purchase Protection,
Mobile phone insurance,
Rental Vehicle Excess Insurance
- Rewards Bonus Points
- Points uncapped for eligible international purchases.
Read reviews and learn more about rewards credit cards
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Apply By 14 Jan 2025
American Express Qantas Ultimate Card
Qantas Frequent Flyer
$450
50,000
1.25 points up to 100,000 points/year, then
1 point uncappedReceive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
CompareCompareQantas Ultimate Card
Receive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $450
- Bonus points
- 50,000
- Earn rate per $1
- 1.25 points up to 100,000 points/year, then
1 point uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 44
- Foreign exchange
- 3.00%
- Late payment
- $30.00
- Points earning
- 1.25 points per dollar on Amex, up to 100000 points per year, then
1 point per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 50,000
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Account alerts by SMS,
Card Purchase Cover ,
Travel Inconvenience Cover
- Rewards Bonus Points
- 1.25 points per dollar on everyday purchases. Earn 0.5 Qantas Points per $1 spent at government bodies, earn 2.25 Qantas Points per $1 spend on selected Qantas products and services.Exclusions apply. After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Points per $1 spent.*
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Kogan Money Black Card
Kogan Rewards Points
$0
No current offer
1 point uncapped
Get 0% p.a. on purchases and balance transfers for 9 months with a 1% balance transfer fee. Reverts to cash advance rate. $0 annual fee to pay. Earn 2 rewards points per dollar on your eligible purchases at Kogan.com & 1 rewards point per dollar on your everyday purchases, almost anywhere (T&Cs apply). FREE Kogan First membership valued at $129/year. Add up to 4 additional cardholders at no cost.
CompareCompareBlack Card
Get 0% p.a. on purchases and balance transfers for 9 months with a 1% balance transfer fee. Reverts to cash advance rate. $0 annual fee to pay. Earn 2 rewards points per dollar on your eligible purchases at Kogan.com & 1 rewards point per dollar on your everyday purchases, almost anywhere (T&Cs apply). FREE Kogan First membership valued at $129/year. Add up to 4 additional cardholders at no cost.
- Rewards program
- Kogan Rewards Points
- Annual fee
- $0
- Bonus points
- No current offer
- Earn rate per $1
- 1 point uncapped
- Intro rate
- 0% p.a. for 9 months
- Ongoing Purchase rate
- 21.99% p.a.
- Balance transfer rate
- 0% p.a. for 9 months and then 22.74% p.a. (1.00% balance transfer fee)
- Cash advance
- 22.74% p.a.
- Interest free days on purchases
- 44
- Foreign exchange
- 3.40%
- Late payment
- $30.00
- Points earning
- 1 point per dollar on Visa, uncapped
- Reward point expiry
- Never
- Bonus points
- No current offer
- Sydney to Melbourne
- N/A
- Sydney to London
- N/A
- $100 Gift card
- 10000.0
- Card Benefits
- -
- Rewards Bonus Points
- Earn up to 2 points per $1 of eligible spend on Kogan exclusive brand purchases.
Read reviews and learn more about rewards credit cards
-
Citi Rewards - Balance Transfer and Purchases offer
Citi Rewards Program
$199
No current offer
1 point up to $10,000/month
Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
CompareCompareRewards - Balance Transfer and Purchases offer
Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
- Rewards program
- Citi Rewards Program
- Annual fee
- $199
- Bonus points
- No current offer
- Earn rate per $1
- 1 point up to $10,000/month
- Intro rate
- 0% p.a. for 15 months
- Ongoing Purchase rate
- 21.49% p.a.
- Balance transfer rate
- 0% p.a. for 15 months and then 22.24% p.a. (2.00% balance transfer fee)
- Cash advance
- 22.24% p.a.
- Interest free days on purchases
- 44
- Foreign exchange
- 3.40%
- Late payment
- $30.00
- Points earning
- 1 point per dollar on Mastercard, up to $10,000 per month
- Reward point expiry
- Never
- Bonus points
- No current offer
- Sydney to Melbourne
- 19500.0
- Sydney to London
- 299000.0
- $100 Gift card
- 20900.0
- Card Benefits
- Travel Insurance,
Extended Warranty,
Purchase Protection,
Mobile phone insurance,
Rental Vehicle Excess Insurance
- Rewards Bonus Points
- Points uncapped for eligible international purchases.
Read reviews and learn more about rewards credit cards
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Apply By 3 Dec 2024
American Express Essential® Rewards Credit Card
Membership Rewards
$108
60,000
1 point uncapped
Receive 60,000 Membership Rewards® Bonus Points* when you apply online through the link on this page by 3 December 2024, are approved and spend $3,000 on eligible purchases on your new American Express Essential Rewards® Credit Card within the first 3 months. T&Cs apply. New American Express Card Members only.
CompareCompareEssential® Rewards Credit Card
Receive 60,000 Membership Rewards® Bonus Points* when you apply online through the link on this page by 3 December 2024, are approved and spend $3,000 on eligible purchases on your new American Express Essential Rewards® Credit Card within the first 3 months. T&Cs apply. New American Express Card Members only.
- Rewards program
- Membership Rewards
- Annual fee
- $108
- Bonus points
- 60,000
- Earn rate per $1
- 1 point uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Foreign exchange
- 3.00%
- Late payment
- $30.00
- Points earning
- 1 point per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 60,000
- Sydney to Melbourne
- 15600.0
- Sydney to London
- 239200.0
- $100 Gift card
- 20000.0
- Card Benefits
- Extended Warranty,
Account alerts by SMS
- Rewards Bonus Points
- Earn up to 5 points per $1 spent on eligible eat and drinks purchases, up to 3 points per $1 spent on selected streaming subscriptions, up to 2 points per $1 spent at selected major retailers.
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