Travelling without cover: more than 25% of Aussies are at risk
As COVID concerns are basically non-existent at this point, another risk is rearing its ugly head and catching Australians off-guard as they head overseas - jetsetting without travel insurance.
And when flights get cancelled, luggage disappears, or an infection lands you in the hospital, that choice can backfire.
With international trips surging to record levels, Mozo’s latest Travel Insurance Report* looks at the surprising number of Aussies who are taking this risk and where they’re missing out on smarter coverage at better prices.
More travel, more risk
According to the most recent stats from the Australian Bureau of Statistics, more than 912,000 Australians arrived home from international trips in November 2024, representing a staggering 7.4% jump from pre-pandemic levels.
However, a worrying number of travellers are rolling the dice on insurance.
Here’s how they’re leaving themselves exposed:
- About 13% fly without any insurance at all, which of course leaves them completely vulnerable to hefty medical bills, cancellations or lost baggage costs.
- Another 14% rely on credit card insurance, only to discover too late that their coverage comes with overlooked restrictions and exclusions.
That means more than a quarter of Aussies could be caught out if something goes wrong overseas.
The cost of cover—and how to keep more cash in your pocket
Travel insurance prices swing wildly depending on your destination. Mozo analysed 166 policies from 51 providers and found that comparing your options can lead to significant savings.
| Destination | Avg. policy cost | Max savings by comparing |
|---|---|---|
| USA | $290 | $157 |
| Italy | $181 | $130+ |
| Bali | $169 | $130+ |
And for certain types of trips, costs climb even higher. Snowsports cover in Japan can add $191 to a policy, while cruise insurance for the South Pacific tacks on another $173.
“Travel insurance isn’t a one-size-fits-all solution. It’s about ensuring your cover aligns with your specific trip, and comparing travel insurance policies is the best way to ensure you’re getting the right coverage at the best price,” says Rachel Wastell, Mozo's money expert.
Price vs. protection: what wins out?
Most Aussies are hunting for a good deal, but are they sacrificing coverage in the process?
Our research found that 57% of travellers prioritise price, with 8% choosing the absolute cheapest policy they can find.
Another 49% check coverage details but still let price be the deciding factor.
On the other hand, 43% put coverage ahead of cost, with 5% allowing cover to be the only deciding factor, no matter the price tag.
“Choosing the cheapest policy might seem smart upfront, but if it doesn’t cover your specific needs, you could end up paying way more in the long run,” says Wastell.
The fine print problem
Here’s the kicker: most Australians don’t actually read their policy.
Mozo’s findings reveal that only 20% read their Product Disclosure Statement (PDS) in full.
The rest?
56% skim through and hope for the best, 14% give up halfway, 9% never open it and 2% don’t even know what a PDS is.
That means a huge number of travellers have no idea what they’re covered for—or what they’re not.
“This lack of awareness could leave travellers exposed to unexpected costs, especially if they assume they're covered for things they’re not,” stresses Wastell.
“It definitely isn’t the most exhilarating part of planning an overseas trip, but it could be the difference between a smooth holiday and an expensive stressful ordeal.”
How to lock in the best deal on travel insurance
Travel insurance coverage and coverage can vary more than you’d expect. Here are some tips to help you find the right policy for you and to save money in the process.
- Compare before you buy. Shopping around can save more than $100 on a two-week policy.
- Read the PDS. Knowing what’s covered can make all the difference if something goes wrong.
- Check for activity coverage. Skiing or cruising? Make sure your policy includes it.
- Look at Mozo’s award-winning policies. Mozo’s Exceptional Value Award Winners offer policies up to $191 cheaper than the average.
Bottom line
A well-chosen travel insurance policy can save you from unnecessary costs and complications. So why not take the time now to compare your options, save some money and avoid nasty surprises overseas? And don’t forget to read that PDS!
* Mozo compared 166 travel insurance policies, issued by 51 providers as part of the Mozo Experts Choice Awards for Travel Insurance 2025 and commissioned a nationally representative survey of 1,425 Australians who have previously travelled overseas, 1,037 of which purchased travel insurance.
^See information about the Mozo Experts Choice Travel Insurance Awards
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