Bank Australia Travel Insurance

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Bank Australia is a provider of travel insurance and other financial products, such as home loans, personal loans, bank accounts and credit cards. Its travel insurance products are provided through Allianz.

What types of travel insurance does Bank Australia offer?

Through Allianz, Bank Australia offers a variety of domestic and international travel insurance products. It has essentials, comprehensive, multi-trip, and domestic policies available. Varying levels of the essentials, comprehensive and domestic policies are offered depending on whether the travel insurance is for a single person, a couple or family. 

A multi-trip policy can be purchased for individuals only, however an additional premium can be purchased to cover a spouse, partner, or children providing that they are under 75 years of age.

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What does Bank Australia domestic travel insurance cover?

A Bank Australia domestic travel insurance policy will cover you for lost or stolen luggage, cancellation, rental vehicle excess and legal liability, among other things. Please note that exclusions may apply.

For more details about what is and isn’t covered, check out the Product Disclosure Statement (PDS) on Bank Australia’s website.

What does Bank Australia international travel insurance cover?

Bank Australia’s international travel insurance policies may cover you for a medical or dental emergency, lost, delayed or stolen luggage, delayed travel expenses, cancellation fees and legal liability, depending on the policy that you purchase.

Please note that exclusions may apply depending on the type of policy you choose and level of cover, as well as general exclusions.

For more details about what is and isn’t covered, check out the PDS on Bank Australia’s website.

Bank Australia Travel Insurance FAQs

Yes, Bank Australia’s international travel insurance policies have unlimited cover for overseas medical and hospital expenses under its comprehensive, essentials and multi-trip policies. It also says that while ‘unlimited’ means there is no capped dollar sum, the costs and expenses claimed must be reasonable.

The Bank Australia non-medical plan does not provide any emergency assistance or cover for medical and hospital expenses.

Various conditions and exclusions apply, and hospital accommodation and medical treatment will only be covered by Bank Australia during the 12 month period after the illness appeared or the injury happened.

For more information, read Bank Australia’s PDS.

Yes, Bank Australia will cover you up to a certain amount for replacing, repairing or reimbursing luggage and personal effects that are lost, stolen or damaged while travelling. 

Under Bank Australia domestic travel insurance policy, luggage and personal effects may be covered up to $10,000 per individual for single or couple plans and $20,000 for a family plan.

Under Bank Australia’s international travel insurance policy, a comprehensive travel plan may cover up to $20,000 for a family plan or $10,000 per person for individual or couple plans. An essentials policy may cover up to $6,000 for a family plan or $3,000 per person for individual and couple plans.

Bank Australia states that sub-limits may apply depending on the type of luggage. Further details are set out in the PDS.

Yes, Bank Australia travel insurance will cover up to a certain amount for lost deposits and cancellation fees for pre-paid travel arrangements due to unforeseen circumstances outside the traveller’s control on a policy. Bank Australia offers unlimited cancellation cover on its comprehensive, domestic, multi-trip and non-medical plan policies. Read the PDS for more information.

You can purchase a Bank Australia travel insurance policy by first comparing your options with Canstar and then generating a quote online. 

You can also apply directly through Bank Australia. If you need help applying, contact Bank Australia.

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You can lodge a claim with Bank Australia online, in store or over the phone.

Bank Australia travel insurance is underwritten by Allianz Insurance. It says you’ll need to have the following information at hand when making a claim:

  • Your policy number and personal details
  • Supporting documentation for your claim (for example your itinerary, receipts, flight detailers etc.)
  • Bank account details for payment of your claim

Allianz advises it may take between 15 to 30 minutes to submit your claim.

Bank Australia was founded in 1957 as the CSIRO Co-operative Credit Society and has since joined together with 72 other credit unions and co-operatives. It became Bank Australia in 2015. Bank Australia state that it is Australia’s first customer-owned Bank and that its investments are used to create positive social and environmental change.

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Written by: Eliza Parry-Okeden | Last updated: July 19, 2019