Why you shouldn’t wait to book your travel insurance

By Gabriella Margerison · · 3 min read
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Travelling overseas for the family holiday is an increasingly popular end-of-year option for Aussie households especially after the pandemic lull of the last few years. So why then do we wait so long to organise one of the most important ingredients for a successful overseas holiday - travel insurance?

In early 2023, Southern Cross Travel Insurance (SCTI) research found that three in four (74%) Australians who travelled overseas in 2022 came across issues, with the most common being illness other than COVID-19 (43%), followed by airline-related issues such as loss of luggage, flight delays or cancellations (38%).

But it seems that many travellers are unaware of the benefits of booking travel insurance early. 

Often, travellers believe that a travel insurance policy only begins once they board their flight or touchdown in a foreign land. What they don’t realise is that they may be missing out on some of their policy’s best benefits.

Whether you’re currently planning a big overseas adventure or are eagerly awaiting your day of departure, here are a few reasons to book your travel insurance ASAP.

Cancellation cover is king

While medical or luggage cover only gets going once your actual holiday does, cancellation cover starts working for you even before your first flight lifts off the tarmac. The level of cancellation cover will vary depending on the travel insurance policy. Some insurers offer unlimited cover. Other insurers may only let you claim up to a certain amount to which you agreed (and others may not even offer cancellation cover at all).

For example, if you’re heading to New York for a white Christmas this December, but you fall ill just days before departure, cancellation cover will generally reimburse, all or a portion, of the non-refundable costs of your flights and accommodation, potentially saving you thousands.

You can usually claim on cancellation cover if you’re unexpectedly made redundant from your job, if you or a relative gets sick or you fall pregnant, but check out your Product Disclosure Statement (PDS) to find policy specific exclusions.

You can always adjust your cover

If you’re putting your trip together one piece at a time, it’s a good idea to take out travel insurance from the moment the first flight or hotel is booked and a deposit is made.

While you can always update your provider on new destinations and tourist activities as you plan your trip more and more, you’re not able to claim cancellation cover on a travel insurance policy you take out after you’ve cancelled your big holiday plans.

You’ll have time to do your research

The days leading up to any big holiday are always a little frantic with all the last minute must-do’s to tick off your list, so the last thing you want is to have to spend a few hours doing the research needed to nab an adequate travel insurance policy.

Fortunately, if you turn to taking out a travel insurance policy as soon as you make that first holiday deposit, you’ll have plenty of time to do the research needed with tools like Mozo’s travel insurance comparison tables.

And while price is a pretty important factor when deciding which policy to go with, Mozo Spokesperson, Rachel Wastell says it’s important you don’t skimp out on necessary levels of coverage.

“Holidaymakers should do due diligence before taking out an insurance policy and check the coverage levels and policy features to select the policy that best matches their needs while still being at an affordable price point,” she said.

So if you want to kickstart your travel insurance research, check out some commonly asked questions about travel insurance or start comparing today by visiting our tailored, travel insurance comparison tool.

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Last updated 13 May 2025 Important disclosures
  • Mozo Expert Choice Badge
    International Travel Insurance
    covid medical cover
    Yes
    covid cancellation cover
    Yes
    overseas hospital
    Unlimited
    cancellation cover
    $5,000 limit per policy with option to increase limit

    Get protection in a few simple steps with Freely travel insurance all in the palm of your hand. Freely Travel offers 24/7 emergency and medical support, 24/7 customer service. Plus, you can tailor your policy so you only pay for what you need, and adapt your cover in near real time. Add-ons such as car rental excess, snow sports or other activities also available. Receive 10% off your travel insurance policy with promo code: MOZO2025. T&Cs apply, go to site for full detail.

    Go to site
    Details
  • Mozo Expert Choice Badge
    Gold Plus
    covid medical cover
    Yes
    covid cancellation cover
    Yes
    overseas hospital
    Unlimited
    cancellation cover
    Choose $0 or Unlimited

    Specialist Travel Insurance for those with pre-existing medical conditions (T&Cs apply). No upper age limits. Unlimited medical cover available with 24/7 emergency medical helpline. Unlimited cancellation cover available. Fast online quote process.

    Go to site
    Details
  • Comprehensive
    covid medical cover
    Yes
    covid cancellation cover
    Yes
    overseas hospital
    Unlimited
    cancellation cover
    Choose from $2,000 up to $100,000

    Enjoy unlimited medical cover and 24/7 emergency assistance services when you travel. Get unlimited cover for cancellation fees and prepaid travel expenses. Cover for luggage and travel documents. $5,000,000 personal liability cover.

    Go to site
    Details
  • Comprehensive
    covid medical cover
    Yes
    covid cancellation cover
    No
    overseas hospital
    Unlimited
    cancellation cover
    Choose $0 to Unlimited

    Australia Post International Comprehensive Travel Insurance covers overseas medical expenses, cancellation costs and more (T&Cs apply). Optional extras like cover for existing medical conditions and winter sports available. 24/7 emergency support. Get a quote in minutes. Reduce your premium with variable excess. Policies may not be available to all travellers. Australian Postal Corporation ABN 28 864 970 579 (AR No 338646) is the distributor of Australia Post Travel Insurance.

    Go to site
    Details
  • Mozo Expert Choice Badge
    Comprehensive
    covid medical cover
    Yes
    covid cancellation cover
    No
    overseas hospital
    Unlimited
    cancellation cover
    $20,000

    Travel Insurance Saver brings you peace of mind on your travels. Compare three tiers of insurance cover, featuring benefits like 24 hour emergency assistance, emergency medical cover, luggage cover, cancellation cover and more.

    Go to site
    Details

^See information about the Mozo Experts Choice Travel Insurance Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

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