Got the travel bug? Mozo reveals the best annual travel insurance policies of 2018

Monika Gudova

Friday 24 August 2018

Whether you’re travelling often for work or play, having travel insurance to cover you in case of an accident or unfortunate mishap should be at the top of your to-do list. Not having the right cover could leave you out of pocket and put a damper on your plans to spend your year hopping from summer to summer.

Got the travel bug? Mozo reveals the best annual travel insurance policies of 2018

Thankfully, Mozo’s Experts Choice Annual Travel Insurance Awards have just revealed our experts’ top picks for the best value and quality annual travel insurance policies around.

Mozo's experts compared a wide range of travel insurance policies in the database to find the best Annual Travel Insurance policies that are helping Aussies save.

“Annual multi-trip policies take the stress out of travel insurance for those that travel often and to different places,” said Mozo Data Manager, Peter Marshall.

“By choosing the right annual travel insurance policy, Australian travellers are saving money and saving time worrying about their level of coverage every time they go abroad.”

Exceptional Value Annual Travel Insurance

The Exceptional Value Annual Travel Insurance winners were found based on which policies had best features for the most affordable price. At the very least, policies had to include unlimited medical, at least $7,500 in luggage cover and at least $15,000 in cancellation cover.

Winners in this category were Budget Direct, InsureandGo and Travel Insurance of the Year winner, World2Cover.

“Even on a tight budget Australians need to be looking at policies that give them both great features and excellent value. The Mozo Experts Choice Exceptional Value Award winners have been put through their paces and deliver both,” said Marshall.

Exceptional Quality Annual Travel Insurance

The Exceptional Quality Annual Travel Insurance awards were decided based on the nature and extent of cover on features such as overseas medical and luggage and personal effects, as well as the inclusion of added benefits, such as the option to pay an additional premium to have no excess and allowances for certain pre-existing medical conditions.

Cover-More Travel Insurance, Qantas, Travel insurance Saver and World2Cover were all awarded winners for their Exceptional Quality policies.  

“Awards in the Exceptional Quality category were awarded irrespective of price, so these policies are really geared towards travellers who want the very best coverage they can get and aren't really concerned about the price tag,” said Marshall.

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For travellers who jet off multiple times a year, an annual travel insurance policy can wind up saving them a bundle.

We crunched the numbers with our travel insurance calculator  and found that a 30-year-old travelling to the US for a month with a single trip travel insurance policy, might pay $202.43 for World2Cover’s award-winning Top policy.

If they make this trip three times a year, they’d be paying $607.29 for travel insurance. Comparatively, World2Cover’s Annual Multi-trip policy, which offers the same coverage for 30 day blocks of travel at a time, would set them back just $269.51 for unlimited trips during the year. That’s a saving of $337.78 in this scenario and the savings only increase the more you travel.

To see the full list of winners, check out the Mozo 2018 Experts Choice Annual Travel Insurance Awards, or to compare more annual travel insurance policies, visit Mozo’s travel insurance comparison hub.

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