Travelers could end up paying double if they don’t shop around before buying a travel insurance politics, shows a recent analysis of Mozo data.
By comparing travel insurance, you can save up to $621, which could instead go towards your vacation budget.
“Rushing into a travel insurance policy without shopping around can be a very costly mistake and set vacation budgets back hundreds of dollars,” says Claire Frawley, personal finance and insurance expert at Mozo.
Obviously, the cost of travel insurance varies by destination as shown in the table below. But if you do your research and compare travel insurance policies, you could save a lot of money.
Compared to 2019, the cost of travel insurance has increased by 57%, data from Mozo revealed. But if you consider the rising cost of travel since nations began opening their borders, it’s no surprise that the cost of living crisis also had an impact on the costs of travel insurance policies.
Frawley says it’s more important than ever to make sure you’re covered before boarding a plane. With COVID continuing to cause damage and flight cancellations becoming more common, it might be a good idea to have insurance to protect you against any potential unforeseen incidents.
Travel insurance tips and tricks
Everyone wants to travel. Below are some tips and tricks to help you find travel insurance that suits your needs:
- Compare policies to make sure you get the best coverage.
- Read the fine print to make sure your policy covers all of your vacation plans.
- Know where you stand if you catch Covid and need to pay for an extended stay, cancel your flight or self-quarantine.
- Stay up to date with all local government advice and regulations
If you’re looking to get travel insurance, start with the winners of Mozo’s Experts Choice Travel Insurance Award 2022, which recognizes providers who have beaten their competition by providing high-value, quality travel insurance. Alternatively, you can start comparing travel insurance policies below.
^ See Mozo Experts Choice Travel Insurance Awards information
Mozo provides general product information. We do not take into account your personal goals, financial situation or needs and we do not recommend any particular product. You must make your own decision after reading the PDS or offer documentation, or after seeking independent advice.
Although we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you choose to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.