Up to one million Australians could be relying on complimentary credit card travel insurance that has been reduced, removed or is about to change, according to new research from Compare Club.
The study surveyed 1,000 Australian credit cardholders whose cards included complimentary travel insurance, or who were unsure whether they did.
It found more than 50% had not checked whether their own cover was affected, while 53% did not clearly understand the announced changes.
Changes are rolling out across several major banks. Selected CommBank cards lost insurance benefits from September 29, while Westpac and Bankwest changes began on October 1.
Further changes announced by ANZ take effect from this December and March 2027, while NAB reduced or removed cover on selected cards in May.
Kate Browne, Compare Club Head of Research, said travellers should check the exact policy attached to their card rather than assuming previously available benefits still apply.
“More than half of the cardholders we surveyed had not checked the changes to their own cover. This is not something to leave until check-in,” Ms Browne said.
The research found 27% of respondents relied solely on their credit card travel insurance when travelling, while 66% were concerned the changes could leave them underinsured.
More than seven in 10 said the changes made them more likely to purchase standalone travel insurance.
Depending on the card, changes may affect cancellation, luggage and delay benefits as well as purchase protection, extended warranties and other complimentary services.
Compare Club said travellers should check activation requirements, trip duration limits, medical cover and eligibility conditions for partners and dependants before departure, while also confirming which policy applies to any trip already booked.
