2 in 3 travellers want a COVID-19 cover option with their travel insurance

woman-going-up-the-escalator-at-the-airport

For a year-and-a-half overseas travel has been little more than a pipe dream for most Australians, but that dream might soon become a reality in the coming months as our borders reopen for fully vaccinated travellers.

But as would-be jetsetters start tentatively coming up with itineraries and re-familiarising themselves with the idea of packing, many travellers will also be thinking about their options when it comes to securing COVID-19 cover through their travel insurance.

According to a recent survey of 1,670 Australians commissioned by Mozo, 69% of respondents said that they would be willing to pay for ‘COVID cover’ if it came as an option with their travel insurance.

“After almost two years of rolling lockdowns and border closures, many Australians are eager to take off on an international adventure but with COVID still running wild, taking the time to find the right travel insurance policy could really pay off,” says Mozo spokesperson, Tom Godfrey.

At present, COVID cover options differ considerably between travel insurance providers though. For instance, while some travel insurance policies state that they will cover medical, quarantine and cancellation costs for travellers who catch the disease, COVID-related impacts such as border closures or government travel bans are often excluded.

“Even though COVID has been with us for some time, there are currently very few COVID cover options available. It’s clear travel insurance providers will be pedalling hard to offer consumers some level of cover as the pandemic continues to create challenges for the travel industry around the globe,” says Godfrey.

COVID cover isn’t the be all and end all for travellers though, as the survey found that 59% of people would still consider getting travel insurance even if it didn’t cover cancellations caused by an outbreak.

Cashed up and ready to fly

Perhaps unsurprisingly, the survey revealed a real pent up demand for international travel among Australians, with 55% of people saying that they were looking to head overseas when the borders open up again.

It also appears that travellers aiming to get away have been bulking up their savings accounts to do so, as the research found that those planning on travelling internationally in the next 12 months are intending to spend $5,861 on average. In fact, 16% said that they are likely to spend $10,000 or more.

How much do international travellers intend to spend in the next year?

AmountTravellers (%)
Up to $5,00051%
$5,001 - $10,00035%
$10,001 - $15,00013%
More than $15,0003%

According to the Department of Home Affairs, international travel could recommence again as soon as November for fully vaccinated citizens and permanent residents.

The exact reopening date is yet to be determined though, and states and territories will only be able to re-open to international travellers once they have hit the double dose vaccination threshold of 80%.

RELATED: Looking at international travel in 2022: What are my best credit card options?

Thinking about organising a trip abroad but not sure what type of payment option you want to take with you? Check out our dedicated travel money hub for a rundown of the options available, as well as a number of handy guides.

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