Discover what details may increase or decrease the price of your travel insurance policy before you protect your trip.

Woman who purchased travel insurance looks at ruins in Jordan

Source: Getty


If something goes wrong while you're travelling, things can get stressful ... and expensive. Thankfully, that's where travel insurance can help. 

“When you purchase travel insurance, you may receive access to emergency or financial assistance if an unexpected incident arises,” says Todd Nelson, Managing Director of Cover-More Travel Insurance in Australia 

“The policy may provide a measure of protection that could prove well worth the cost of the travel insurance premium if the unthinkable were to happen during your trip." 

How much does travel insurance cost?

Have you ever asked yourself "How much does travel insurance cost?" when booking a trip and researching how to protect it? If so, you’re likely not alone.   

While the answer to this question varies – so many factors can influence the cost of your travel insurance – here are some of the most common elements of a travel insurance policy and how they can affect your premium.  


These 12 factors may affect how much your travel insurance costs: 

  1. Your destination 
  2. Your age 
  3. The length of your trip 
  4. The insurance plan you choose 
  5. The excess level you choose 
  6. If you require Cruise Cover  
  7. If you include Snow Sports cover 
  8. If you include Adventure Activities Cover 
  9. If you include Amendment & Cancellation Costs cover 
  10. If you include Motorcycle/Moped Riding cover 
  11. Your existing medical conditions 
  12. The valuables you're taking on your trip 


#1. Can my destination affect how much travel insurance costs? 

Where you plan to travel to can affect your travel insurance price. Why? Because each country has a different level of risk. 

You may find you pay a higher travel insurance premium when travelling to a country with high medical costs (such as the United States of America).  

Alternatively, your insurance costs may be lower for a country with a Reciprocal Health Care Agreement with Australia (such as New Zealand), as this would give you access to subsidised medical care.  

Your destination’s distance from Australia can also play a part in how much your travel insurance costs. Why? Because the further away from home you are, the more costly a repatriation or evacuation would be should you need it. This risk is factored in when your premium is calculated. 

The likelihood of experiencing a natural disaster, terrorist threat or similar at your destination may also hike up your insurance premium. 

You may find some travel insurers do not provide cover for some destinations. For example, our Cover-More travel insurance plans generally do not provide cover if you do not follow an advice or warning of ‘Do not travel’ issued by the Australian Government on the website or that has been published in the mass media and the subject of your claim is related to the reason for the advice or warning.  

To find your next holiday destination’s current overall advice rating, visit Smartraveller’s destinations page.  


#2. Can my age affect how much I must pay for travel insurance?

Generally, how much your travel insurance costs will increase as you get older, especially once you are over 65. This is because travellers over 65 have a higher risk profile than younger travellers, particularly when it comes to health and safety.  

For example, older travellers are more likely to have more health conditions, which increases the risk of a claim relating to medical expenses. Similarly, older travellers may be more likely to be targeted by thieves in some countries.

This doesn’t mean you need to stop travelling. Travellers up to 99 years of age are eligible for our Cover-More travel insurance plans. Get a quote online now to understand the cost of travel insurance for your next trip.

Group of older women with travel insurance take selfie during holiday

Source: Getty


#3. Will the length of my trip affect my travel insurance cost? 

The cost of travel insurance is generally lower for shorter trips and higher for longer trips. This is because the policy cost is generally calculated according to the risk of something happening ... and there is a greater risk of something happening if you’re away for an extended period. 

For example, our travel insurance policies generally provide cover for emergency medical expenses, lost items, and cancelled flights. If you are away for longer, then the chances of experiencing these scenarios may increase, so your premium may increase too.

If you are buying a Cover-More Annual Multi-Trip (AMT) policy, we also offer you the option to pick your maximum trip duration. This provides you with greater control over the cost of your travel insurance policy. 

On an international AMT policy, you can select cover for trips:

  • Up to 30 days
  • Up to 45 days
  • Up to 60 days

On a domestic AMT policy, you can select cover for trips:

  • Up to 15 days
  • Up to 30 days

To understand how the length of your trip on a Single Trip policy or an AMT policy affects the travel insurance price for your trip, get a quote online now.


#4. Will the Cover-More travel insurance plan I choose affect my travel insurance price?

When purchasing your Cover-More travel insurance policy, you’ll notice we offer several different plans for international and domestic trips with varying levels of cover, including:

  • Domestic Basic
  • Domestic Comprehensive
  • Domestic Comprehensive+
  • International Basic
  • International Comprehensive
  • International Comprehensive+

The Basic insurance plan options generally cost less than the comprehensive ones. However, they also offer a lower level of cover. It’s always smart to compare our plans to determine which one is best for your travel plans as well as your budget.

We also offer Annual Multi-Trip travel insurance plans for regular travellers. While this is pricier than a one-off policy, it can provide cover for every trip you take over 12 months (up to the maximum trip length you select). This means it may reduce your travel insurance cost per trip if you travel very frequently. 

As always, it’s important to read the PDS in full to ensure this product is right for you and contact us if you have any questions before you get a quote.


Father and his kids purchasing travel insurance before their trip

Source: Getty


#5. Can my excess level increase how much I have to pay?

The excess amount you choose may affect the cost of your travel insurance. 

When you purchase a Cover-More travel insurance policy for an international trip, you can choose your excess amount: $0, $100, or $250.

Please note: If you’re purchasing a Cover-More travel insurance policy for a domestic trip, an excess amount of $50 is automatically applied. 


#6. Will my travel insurance cost more if I’m going on a cruise?

Cruise ship holidays are some of the most enjoyable trips you can have – but they do come with risks. That’s where our Cover-More Cruise Cover option comes in. 

If you’ve purchased a travel insurance policy with us and you’re going on a multi-night sea or ocean cruise, you must tell us and we’ll provide you with the option to include our Cruise Cover in your policy to help ensure you remain protected while on your cruise.  

Adding our Cruise Cover to your insurance policy will increase your travel insurance price. However, this cost is marginal compared to what you may have to pay if you need emergency assistance during an uninsured trip – and without it, any claims related to the cruise element of your trip may be denied.

For example, some cruise ships do not have doctors on board. This means if you find yourself extremely unwell or injured while on your cruise, you may need to be evacuated and taken to a hospital, which could be extremely costly if you don’t have the correct level of travel insurance. 

Our Cruise Cover provides several important benefits, including  Onboard Medical and Dental cover, Ship-to-Shore Medical cover, Sea Sickness cover and more, so you can focus more on your nautical adventure.     

Family of four, who purchased travel insurance with snow sports cover, go skiing during their holiday

Source: Getty


#7. Will my travel insurance cost increase if I'll be taking part in snow sports?

If you’re heading off on a skiing or snowboarding trip, it’s smart to protect your travels. Yes, your travel insurance costs may be higher because of the heightened risks involved in these activities; however, suffering even a minor injury while out in the snow may leave you with huge medical costs, especially if you need to be airlifted off the slopes for medical assistance. 

So, to help prevent the possibility of being stung by outrageously high medical costs in the event of an injury or medical episode, you may wish to consider purchasing travel insurance with adequate winter snow sports cover.

At Cover-More, our Snow Sports cover is available if you want to vary the cover offered by our base plans and must be included in your policy when purchasing your travel insurance if you want protection while out on the slopes. 

We have two options available for you to choose from to suit the snow sports you have planned – Snow Sports and Snow Sports+ – and an additional premium will apply when adding either option to your policy.


#8. Will I have to pay more if I’ve booked adventure activities?

If you have planned an action-packed holiday filled with adventure activities or extreme sports, considering protecting your trip with adequate insurance cover is even more crucial. 

At Cover-More, we provide cover for 80+ adventure activities as part of our base plans. However, some adventure activities not automatically included require an additional level of cover because of the risks involved. This extra cover generally comes at an added cost on top of your baseline travel insurance price. 

For example, we automatically offer protection for abseiling and snorkelling on all Cover-More travel insurance plans. However, if you're taking part in more extreme adventure activities such as dune buggying or skydiving, you’ll need to pay extra to include our Cover-More Adventure Activities or Adventure+ Activities cover for the required level of protection.    

Father and son, who purchased travel insurance before their trip, go snorkeling while on holiday

Source: Getty


#9. Will my travel insurance price increase if I want cancellation cover?

The cost of travel insurance can also be affected by whether you want to include cancellation cover in your policy. 

If you are planning a more expensive trip or have booked many non-refundable activities, then including adequate cancellation cover may be a good idea. 

Our Cover-More travel insurance plans don’t automatically include cancellation cover, but you can choose various levels of Amendment & Cancellation Costs cover when purchasing your travel insurance for an additional premium.      

#10. Will I have to pay more if I’m planning to ride a motorcycle or moped during my travels?

Travelling on a motorcycle or moped can be an exciting way to explore destinations like Bali, Thailand and the Greek Islands, especially if you’re adventurous at heart. However, riding a motorcycle or moped – whether you’re the one in control of the vehicle or the passenger – can be risky. And if you do get involved in an accident while on a motorbike or moped, you could end up with an expensive medical bill.

That’s why it’s smart to tailor your travel insurance policy to include Motorcycle/Moped Riding cover or Motorcycle/Moped Riding+ cover if you are planning on hiring a motorcycle or moped on your trip. This will increase your premium, but this is because of the risks associated with this activity. 

Before locking in your travel insurance, you may want to research our two levels of Motorcycle/Moped Riding cover to decide which one best suits your travel plans and understand the cover requirements (such as always wearing a helmet and meeting the licence requirements).


#11. Will the cost of my travel insurance be higher if I have existing medical conditions?

Our bodies are unique and are made up of complex systems which can be inter-related. In order to holistically evaluate each traveller's existing medical condition, we need a picture of their overall health.

If you have one or more existing medical conditions that you would like your travel insurance policy to contain benefits for, you should tell us about them. Then, we can complete an online health assessment and, if we approve, we can offer you cover. An additional premium may apply. 

Our Cover-More travel insurance plans automatically provide cover for several medical conditions as long as you meet the criteria set out in the policy for all your conditions. Some automatically included conditions are:

  • Acne
  • Asthma
  • Coeliac Disease
  • Gout
  • Hypertension

However, for automatic coverage to apply, you must meet all the conditions, which includes ensuring all your medical conditions are included in this list.

If one or more of your existing medical conditions are missing from our list of automatically included conditions, you’ll need to complete our online medical assessment when generating a quote.

If the declared conditions are approved by us, you’ll be able to include the cover in your policy. While some conditions will not require an additional premium, others will.     

Female traveller with travel insurance takes photos during her trip

Source: Getty


#12. Will the valuable items I’m taking on my trip increase my insurance premium? 

If you are taking high-value luggage items with you, you may be able to increase the specified item limit of the policy. 

Our Cover-More travel insurance plans allow you to increase the item limit on some items when you purchase your policy. While this will cost you extra, it may be well worth paying for help safeguarding your valuables during your travel adventure. 

If you are considering increasing cover for your high value items, it is important to note that the standard terms and conditions outlined in the PDS will apply to your luggage items. Under our policy, cover for luggage items is subject to depreciation, the original purchase price of the item and other factors. Please ensure you read the Combined FSG/PDS carefully when choosing which level of cover is right for you and your items.  


Protection when you need it the most

There’s no one answer to the question “How much is travel insurance in Australia?” because your travel insurance price will always vary depending on your age, destination, trip length, excess level, your selected plan, the policy upgrades you opt for, the activities you take part in while on your trip, and more.

One thing is clear cut, though – protecting your travels can provide you access to emergency assistance and may provide a level of financial protection should the unthinkable happen on your trip. That’s why it’s important to consider purchasing a travel insurance policy before your next trip. Then you can focus on making the most of your time away, knowing we may be able to provide assistance should something go wrong.


Want to protect your upcoming trip?

While your travel insurance premium may vary depending on your travel plans and other factors, you can  focus more on your holiday once you’ve insured your trip.

Get a quote online now to discover our insurance plans and our options to help you vary your policy to suit your holiday.