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2024 Travel Insurance Comparison: Your Guide To The Best Policies

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When planning a vacation, travel insurance should be one of your top priorities. There are so many different insurance providers, and it can be challenging to determine which is the best for you. To help you narrow it down, we will compare some of the most popular travel insurance providers and help you decide which is the best for your needs!

This travel insurance comparison does not compare every option for insurance, but rather, the best travel insurance companies as recommended by the travel community and from our own experiences.

snow farm new zealand tubing

Do I Really Need Travel Insurance?

I’ve planned everything so nothing could go wrong.

But I’ve never needed to claim before.

I never get sick!

We aren’t going anywhere dangerous.

It’s just a quick trip.

I already have private health insurance.

I’ve heard a lot of reasons against booking travel insurance before. And some of these things we had said ourselves before we had things go wrong while abroad.

If you are wondering if you should get travel insurance for your next trip, our answer is definitely YES!

While we never anticipate things going wrong, if there is anything these past few years have taught most of us is that sometimes even the most unexpected can happen.

Hearing travel horror stories and having our own negative experiences definitely changed our view on getting insurance.

These stories aren’t designed to scare you but they do help make a point about why you should get travel insurance.

We will share some of our least favourite travel experiences below!

But first, here is a quick look at our top recommendations for the best travel insurance:

  • Cheapest Travel Insurance: Allianz
  • For Digital Nomads & Long-Term Travel: SafetyWing
  • For Adventure Travel: World Nomads

How To Choose The Right Travel Insurance Policy?

child snorkelling near the Gold Coast

When it comes to choosing the right travel insurance premium for your trip, there are a few things to consider

The first important thing to look at is what type of coverage each trip policy provides and whether or not the coverage is adequate for your travels.

Different policies may include different types of coverage such as medical evacuation, emergency medical treatment, emergency dental, lost or delayed luggage, trip cancellation costs and more.

Make sure to read the description of each policy thoroughly so that you are aware of what type of coverage is included.

Choose a policy that is right for your individual needs as well as the type of trip you are taking. For example, if you plan on participating in certain activities such as scuba diving or skiing, make sure to look into policies that cover those activities.

Also, most policies will have exemptions due to certain circumstances such as a pre-existing medical condition or events outside your control like natural disasters or pandemics.

Be sure to ask questions about these exemptions if you are unsure about them.

What seems like a great policy on the surface might in fact have some unexpected fine print that may end up costing you a lot more if something goes wrong while you are travelling.

The lower-cost policies may offer less coverage or have higher excesses which can be more expensive in the long run.

Finally, it is also beneficial to read reviews from past customers of the provider you are considering and find out their experiences

Our Worst Travel Moments

family visiting budapest with kids overlooking the danube
Simon in his only outfit after his luggage was lost for 4 days when in Budapest

We’ve been pretty lucky with avoiding any major travel disasters so far and hope to keep it that way.

But there have been a few lousy experiences where having the peace of mind of insurance sure did help save us a lot of money!

One of our worst travel experiences was leaving a nearly new mobile phone at an airport in Punta Cana. I had it in my hand just before boarding but either dropped it, left it on a seat or had it stolen just before boarding. We will never know, but that phone was long gone despite many efforts to try and get it back.

Thankfully travel insurance meant I wasn’t out of pocket for the full cost of a brand-new mobile phone when we got back.

It has also helped us completely recover the costs of having to cancel a trip to Thailand for our 10th wedding anniversary due to the dreaded you know what, back in 2020.

We’ve also had smaller claims for lost luggage and medical appointments with sick kids abroad.

Best Travel Insurance Comparison

We all have different needs, so we’ve worked hard to compare the best travel insurance policies and who they are best for since travel insurance policies are not a one size fits all kinda situation!

Below you will find a comparison of travel insurance providers including Safetywing VS World Nomads VS Heymondo VS Allianz VS Cover-More to give you a great starting point to choose what suits you best!

For the purpose of this review, we have also put together an example cost of a trip for 4 (2 adults and 2 kids) travelling from Australia to Europe for 14 days to give you an idea of the cost differences you may encounter.

World Nomads Insurance Review

For a very comprehensive travel insurance policy, World Nomads is a great option. They offer medical, trip cancellation/interruption and baggage loss coverage as well as optional add-ons like adventure sports and rental car damage waiver coverage.

World Nomads also includes some of the most comprehensive coverage for extreme sports and adventure travel which makes them stand out in this category. They are also popular with backpackers.

Their insurance policies can be from 1 week in length to a full year of coverage, with a fantastic online quote system to help you choose the right cover for your circumstances.

Example cost: $308 AUD for a 14-day base policy for a family of 4 or $401 AUD for the explorer plan (comprehensive).


  • Budget & comprehensive options
  • Great coverage for adventure travel
  • Highly recognised brand


  • No multi-trip policy options
  • Underwritten by various insurance providers makes them a little more inconsistent

Heymondo Review

Heymondo is a great choice for budget-minded travellers looking for basic coverage and flexibility in their policy.

They can sometimes be a little cheaper than World Nomads and many other popular providers and they have some great tools, including a support app for quick communication. This includes 24/7 chat with a doctor.

Heymondo has a fantastic annual-multi trip package if you are planning to travel frequently and also a long-stay plan. This can often work out much cheaper than purchasing a policy for each upcoming trip individually.

Heymondo has COVID-19 coverage in all their policies which include covering extended stays due to medical quarantine, medical costs and cover for non-refundable expenses.

They also have the option of Heymondo premium, which gives you much more extensive medical and health coverage without being excessively more expensive.

The one negative is that Heymondo policies are limited to individuals 69 years and over 90 days, so no multigenerational trip or newborn coverage!

heymondo travel insurance review

Example cost: $250 USD for a 14-day medical policy for a family of 4 or $334 USD for the premium plan.


  • Budget & comprehensive options
  • Multi-trip plan options
  • Great app & support tools
  • COVID-19 cover


  • Does not cover individuals over 69 or newborns under 90 days old

SafetyWing Insurance Review

SafetyWing is an excellent choice for those who are looking to travel long-term, offering one of the first nomad insurance policy options for full-time travellers.

With the rise of the digital nomad lifestyle and being able to work remotely, SafetyWing has risen to the challenge with built-in travel and safety insurance.

safetywing travel insurance review

One of the other things that drastically sets them apart is the fact that you can get a policy after you have already left home, while most insurance policies require you to purchase it before your trip begins.

This means they have global coverage, including the ability to be covered even when you are back in your home country! The option of a monthly subscription-like insurance service makes it very easy to cancel or pause as needed.

They also cover COVID-19, unlike many other insurance providers.

Example cost: $68.04 USD for 30 days for an adult aged 40-49 or $42 USD for a child under 10 (or up to 2 children policies free with adult policies).


  • Simple pricing & monthly subscriptions
  • Digital nomad insurance
  • Can sign up for a policy after you have already left home
  • Free child policy with an adult policy


  • No comprehensive option
  • Does not cover high-risk sports

Cover-More Travel Insurance Review

Cover-More is a great option for those who are looking for comprehensive coverage with lots of customization options.

They offer medical, trip cancellation/interruption, and baggage loss coverage as well as optional add-ons like adventure sports and rental car damage waiver coverage.

They are one of the most popular options for travel insurance in Australia for good reason and we have used them on more than one occasion.

They have 3 main insurance plan options – international basic plan, international comprehensive plan and international comprehensive plus plan, each with varying inclusions. You can lower your premiums by paying a higher excess of $250 or set your excess to $0 for potential claims.

The comprehensive plans can also be purchased as annual multi-trip plans for frequent travel.

Each of the plans has on-trip COVID-19 coverage, but only the plus plan has pre-trip cover.

Example cost: $190 AUD on an international basic plan with a $250 excess for a family of 4 for 14 days travelling from Australia to Europe or $294 AUD for an international plan plus.


  • Basic and comprehensive options
  • Ability to choose your excess to reduce upfront premiums
  • Annual multi-trip plans
  • Adventure travel plans
  • COVID-19 coverage options


  • Does not cover risky activities such as high altitude trekking

Allianz Travel Insurance Review

Allianz is a great option for those looking for comprehensive coverage with lots of options to customise their policy. They offer medical, trip cancellation/interruption, and baggage loss coverage as well as optional add-ons such as rental car damage waiver coverage.

They also have a cheap travel insurance plan that just covers health and medical emergencies.

One of the best things about an Allianz travel insurance policy is that they insure older travellers who aren’t always covered by other travel insurance companies.

They do have the option to add on adventure upgrades if you plan on skiing or going on a cruise for example.

Example cost: $180 AUD for a 14-day basic medical policy for a family of 4 or $227 AUD for the comprehensive plan.


  • Basic and comprehensive options
  • Annual multi-trip plans
  • Adventure travel upgrades
  • COVID-19 coverage options
  • Can apply for certain pre existing conditions coverage
  • Comprehensive coverage for travellers over 75


  • Extra excess cost for adventure activities

How To Find Travel Insurance – Our Booking Process

Before every trip, we do our research for travel insurance using the following steps.

Start by working out your travel itinerary, including where you plan to visit and your travel dates. Knowing the type of activities you have planned for your trip will also help you do your research.

Visiting any of the recommended travel insurance websites, input your details into the online quote system, taking care to fill in your details accurately.

Use a notebook or a spreadsheet to document how much travel insurance will cost for each provider, taking note of inclusions and exclusions.

It is usually based on the exclusions vs total price that helps us narrow down our preferred option.

We always take the time to read the product disclosure statement before purchasing a travel insurance policy.

It is within the product disclosure statement that you might find exclusions you weren’t aware of from the online quote summary.

sand board at lancelin

Travel Insurance FAQS

Travel insurance is a great way to protect you and your family from any mishaps during your travels, whether it be cancelled flights, lost or stolen luggage, or even medical emergencies.

If I have private health insurance, do I still need travel insurance?

Yes. Even if you have private health insurance, it is important to get travel insurance as most domestic private health insurers only cover medical expenses in your country of residence, not overseas. Travel insurance coverage includes both medical and non-medical related items such as cancellation fees, lost or stolen luggage and more.

Can I find long-term travel insurance?

Yes. There are a few relaible travel insurance companies that offer long-term coverage for nomads looking to travel full-time for an extended period, such as SafetyWing or World Nomads.

Long-term policies usually cover multiple trips in the duration you choose and can be tailored with additional features such as adventure sports coverage and rental car damage waiver coverage.

Do I need to purchase travel insurance before I leave?

It depends on the insurance provider. Some companies, such as SafetyWing, offer policies that can be purchased after you have left home, while most require you to purchase before your trip begins. Be sure to check with your insurer for their specific policy requirements.

I am travelling several times in the same period. Can I get one insurance policy to cover all my trips?

Yes. Many travel insurance companies offer annual multi-trip policies that cover multiple trips taken in the same year. Some providers even allow you to extend your policy for a longer period of time if needed. Be sure to check with your insurer for their specific policy details and coverage options.

Do I need travel insurance for Domestic travel?

It is not mandatory to have travel insurance for domestic travel, however, it can still be beneficial depending on the type of trip you are taking.

Many domestic travel insurance policies offer coverage such as trip cancellation/interruption, lost or stolen luggage cover, medical treatment and more. It is worth considering if you think your trip has a high risk of being interrupted or cancelled

Halong Bay Cruise
Our youngest daughter feeling better after a night of vomiting on a Halong Bay cruise

Do I need cruise travel insurance?

Yes. It is important to make sure you are covered with a comprehensive travel insurance policy if you are travelling on a cruise. Not all travel insurance policies automatically cover you for taking a cruise so ensure you choose a policy that is specific to cruising.

Does travel insurance cover pandemics?

It depends on the policy. Many travel insurance companies now offer coverage for pandemics, including COVID-19, but it varies depending on the provider and the type of policy you purchase. Be sure to check with your insurer for their specific pandemic coverage requirements and what is included in their policies.

What does travel insurance not include?

While this is a difficult question to answer as each policy covers slightly different things, especially when comparing budget vs comprehensive travel insurance.

However, generally speaking, travel insurance typically does not cover the following:

  • Natural disasters
  • Global pandemics or crises that commence prior to your booking your trip
  • Events that happen due to lack of care on your part
  • Pre-existing medical conditions
  • Pregnancy and childbirth
  • And some may have restrictions on certain activities like skydiving or scuba diving.
back at the airport during the pandemic

Bonus Travel Insurance Tips

Travel insurance can be a large expense, especially if you are a budget traveller! Here are some of our favourite tips for how to find cheap travel insurance or save money while still staying safe:

  • Check your credit card benefits – Some premium credit card accounts offer free travel insurance as part of the annual fee.
  • Do your research – We always compare at least 3 different travel insurance companies before we book to make sure we are getting the best price that still has everything we need.
  • Single trip or multi-trip – If you have more than one trip coming up, consider getting a multi-trip policy instead as it can often work out cheaper.

Need More Travel Planning Tips?

Check out our travel tips for everything you need to plan your next family adventure, from packing tips to itinerary planning and much more. Here are some of our favourite travel planning guides:

Overall, travel insurance can be a crucial component of planning any trip, and the right policy can help you protect your financial investment while abroad. Be sure to do your research before purchasing a policy to ensure that it meets all your needs and provides the coverage you need. Happy travels!

We hope this guide helps you to compare travel insurance and find the right policy for you and your family!

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We want to hear from you!

Do you have any of your own travel insurance reviews to share about any of these providers or others you have used? Tell us all about it!