NZ insurer Southern Cross Travel Insurance and Allianz-underwritten Worldcare have come up trumps in a survey by financial services research firm Cannex, winning five-star ratings for their international travel products.

Suncorp has joined Worldcare at the top for domestic travel insurance, while direct travel insurer Zuji Australia – also underwritten by Allianz – shares the top spot with Worldcare for medical-only travel insurance.

A report by Cover-More Travel Insurance last week says about 40% of Australians travel without insurance, while the Department of Trade and Foreign Affairs says it handles more than 25,000 cases each year of Australians in difficulty overseas.

Cannex Head of Research Steve Mickenbecker says people who can’t afford travel insurance simply can’t afford to travel.

“Fortunately in Australia we have a lot of companies who provide excellent travel insurance policies,” he said.