Some holidaymakers say they won’t be packing travel insurance due to the rising costs of premiums since the pandemic, according to a survey by a comparison website. 

Comparetravelinsuranceonline.com.au says its research shows that those taking out a policy say they will opt for the cheapest policy they think they can get away with. 

A survey of 100 people at the end of May found 36% of travellers would not buy travel insurance due to its increased cost while a further 26% would opt to buy the cheapest policy possible. 

A further 19% felt they didn’t need it, while 12% dismissed it as it “wouldn’t cover their pre-existing illness”.  

Compare Travel Insurance Director Natalie Ball says since the pandemic premiums have jumped on average by more than 35% because of increased travel costs and ongoing covid fallout. Other information suggests the increase could be as high as 50%, the firm says. 

Insurance for 10 days in the US would cost a traveller aged 35 between $115 to $525; a traveller aged 75 between $397 to $885 and a traveller aged 85 years between $886 to $1941. 

Ten days in Australia for a 35-year-old would be $55 to $138; $159 to $435 for a 75-year-old and $202 to $1001 for an 85-year-old. 

 “The increase to already high premiums has made travel insurance increasingly unaffordable for older travellers, particularly if they have pre-existing conditions to declare,” Ms Ball said.