Cheap Travel Insurance

Compare travel insurance policies with Savvy and find the cheapest policy from our panel of partners.

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, updated on September 4th, 2023       

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Compare Travel Insurance Quotes in 30 Seconds

If you have travel plans arranged for the near future, you'll probably be looking for the cheapest policy to suit your needs. While it isn't the only factor you should look to when comparing insurance policies, it's still essential to consider different offers so you can find the most affordable which provides adequate cover.

You can compare a range of quotes from our travel insurance partners in one place with Savvy. Simply fill out our easy form and you could have a range of offers to consider side-by-side instantly. Start the process with us today and determine what the cheapest policy for your needs is among our providers.

How do I get a cheap travel insurance policy in Australia?

While the cost of travel insurance in Australia can vary between budget and premium providers, there are several things you can keep in mind which can help you to find a cheaper policy. These include:

  • Consider the level of cover: there are different levels of cover available when purchasing travel insurance, with basic cover typically being the cheapest and comprehensive the most expensive. As such, the type of cover you choose will have a direct impact on the cost of your insurance premium. However, you shouldn't choose a cheaper policy purely because of the price; it's important to determine whether there are any policies which can offer you the cover you need.
  • Think about a shorter trip: travel insurance is more expensive the longer your trip is. That's because the longer you're away from home, the more time there is for something to go wrong (in theory). Shortening your trip can also reduce the cost of your travel insurance as a result.
  • Reduce the optional extras where possible: adding extras such as snow or adventure packs will often increase the cost of your policy, so avoiding these where they aren't necessary may help you secure a more affordable insurance package.
  • Choose your destination wisely: not all destinations are made equal in the eyes of insurers. Different countries may be assessed differently in terms of the level of risk they may pose to travellers. One major factor is the healthcare system on offer, so countries with more complex or no universal healthcare (such as the United States) will typically cost more than a holiday to Europe, for instance.
  • Increase your excess: the excess is the amount you pay out of pocket when making a claim. Some insurers will give you the option to set this yourself, with some not requiring an excess at all. However, the higher your excess, the cheaper your policy is likely to be. 
  • Take advantage of couples' or family discounts: some insurers may offer discounts for policies purchased to cover a family or couple. This could mean it's a cheaper option for you to do so if you aren't travelling solo. 

While you may be able to take advantage of some or all of these when buying travel insurance, it's important to note that there are still other factors which can impact the cost of your policy which are more out of your control. For instance, senior travellers are likely to have to pay more for their coverage than younger individuals due to the increased risk of injury or illness while on your travels. Furthermore, some insurers may require you to pay an additional premium if you suffer from certain pre-existing health conditions, so this could also have an impact on the cost of your cover. 

One of the simplest ways to help you find a cheaper policy is to compare different insurers and offers, which you can do with Savvy. You can consider policies from our trusted insurance partners side-by-side to help you determine which is the most affordable while also offering the cover you're looking for.

What does a cheap travel insurance policy usually cover?

Because travel insurance policies cater to a variety of needs, you should expect the cover available to roughly fall into the following categories:

  • Basic or medical-only cover, which includes cover for emergency healthcare and medical expenses and personal liability.
  • Mid-range offerings, which may come with added cover for trip cancellations, disruptions, luggage and personal effects, as well as increased personal liability cover.
  • Comprehensive policies which can offer a higher level of coverage for most categories covered under mid-tier policies and may offer further protection for claimable travel delay costs, special event transport and theft of cash.

All coverage listed above is subject to the terms and conditions set out in your insurance contract and your provider's terms and conditions and may vary depending on the insurer you choose to purchase from. Different policies may suit different people, which is why it's crucial to compare travel insurance quotes with Savvy before you buy. 

How should I compare cheap travel insurance?

There are many areas which you should look to compare when picking out your travel insurance policy. These include:

Policy premium

Of course, when comparing cheap policies, it's important to keep one eye on the cost. Comparing is perhaps simplest way to narrow down your options when it comes to which policies are the cheapest while still proving to be suitable in terms of the coverage they offer. However, as mentioned, this shouldn't be the one and only variable you consider, as not all of the cheapest policies may offer the coverage you need. Buying travel insurance is something of a balancing act between locking in the most affordable price and the most suitable cover.

Inclusions and exclusions

There's little point in buying a policy which doesn't offer you the protection you're looking for, as you'd be spending money on a product which may leave you vulnerable to out-of-pocket costs in areas you're looking to cover. Because of this, you should be across all the inclusions under your policy, as well as any relevant exclusions. These will vary from insurer to insurer and policy to policy, but some of the key exclusions to consider are:

  • Luggage or personal items left unattended
  • Cost of treatment for undiagnosed pre-existing symptoms
  • Travelling against government advice
  • Any claims as a result of having broken a local law 

Claim limits

In addition to the inclusions and exclusions under your policy, it's important to consider what the potential claim limits are for any events which qualify for coverage. This is worth comparing as you should look to avoid being underinsured wherever possible, even when looking for a cheap policy. For instance, while some insurers may offer up to $1,500 for travel delay expenses (such as accommodation, meals and other necessary expenses if your trip is delayed by 12 hours or more), others may increase this to $2,000.

Excess requirements

Consider what the excess you'll have to pay may be for certain situations under your policy agreement. For instance, while some insurers may require only a relatively small excess (such as $100 to $200), others may not require you to pay one at all in certain situations (subject to their terms and conditions). Also compare the customisability of excesses between insurers if you want to increase it to reduce your premiums.

Available optional extras

If you're looking to do something like rent a car, ride a motorcycle or partake in an adventure activity (in the snow or otherwise), some insurers will require you to purchase optional extra cover in order for any claimable incidents stemming from these activities to be included under your policy. Look at the extras they have available and consider their cost. Some insurers may also offer some of these as part of their main coverage, such as car hire excess, which could mean you avoid paying more for them in some cases.

Types of travel insurance

Why compare travel insurance with Savvy?

More questions on cheap travel insurance

Can I be covered for COVID-19-related expenses under a cheap travel insurance policy?

Some insurers now offer cover relating to costs stemming from COVID-19, whether they be cancellation fees if you contract the virus or become a close contact or medical expenses if you're hospitalised while on your travels. It's important to note that not all expenses will be covered, such as those which occur within 72 hours of your policy purchase (with some insurers), lockdowns and border closures and additional quarantine costs if you're a close contact. However, it's crucial to determine what is and isn't covered by your insurer before you purchase your policy. 

Who offers the cheapest travel insurance policy?

The cheapest travel insurance policy for you is likely to be different from that of the next person due to the vast array of variables at play, such as your age, health, destination, length of trip and more. As such, there's no one answer on which provider can offer the cheapest policy for your needs. Comparing with Savvy can help you consider offers from our panel side-by-side to help you determine which is the cheapest and whether it affords you suitable coverage.

Is it cheaper to take out travel insurance through my credit card?

Travel insurance can come as a built-in feature of some premium credit cards, meaning you may be able to access complimentary insurance in certain situations (although you may be required to pay your premiums as part of your annual card fees with other providers). This may mean it's cheaper than buying a policy from a specialist travel insurance company in some cases. However, it's important to compare your options and make sure the coverage you settle on is suitable for your needs and budget.

Can I purchase a cheap travel insurance policy if I’m travelling in a group?

Some insurers may offer cheaper rates if you're taking out a travel insurance policy to cover a larger group of people, with parties up to 25 able to be covered in some cases. By purchasing a group insurance policy, you may not only save money but also time, as it's more convenient than buying a policy for each traveller. However, this type of policy may require all travellers to take out the same type of cover, which may not be suited to those who have their own specific health needs not otherwise covered by a group policy.

How can I make a claim on my cheap travel insurance?

If during your travels you encounter issues which are covered in your policy, you should contact your insurer and commence the claims process as soon as realistically possible. Most insurers can be contacted either online or via phone 24 hours a day. Provide as much detail as possible and supply any supporting documentation, such as receipts, medical certificates or police reports. In most cases, you'll receive a response regarding your claim within ten business days.

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We do not compare all travel insurance brands currently operating in the market. Any advice presented above or on other pages is general in nature and does not consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.

Savvy earns a commission from our partners each time a customer buys a travel insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via their websites.

Before purchasing your policy, we recommend you refer to the provider’s PDS for any further information on the terms, inclusions and exclusions.