Travel insurance for expensive items

Sometimes when travelling we need to take expensive items with us, like a laptop for work, a camera to take high-quality holiday snaps, or an engagement ring to propose to your significant other while on a romantic getaway. In these cases, you may need to think about taking out a travel insurance policy that covers expensive items.

What does travel insurance cover?

Travel insurance can help cover costs associated with medical treatment, theft or loss of your belongings, and cancellation or delays among other things.

However, all travel insurance policies have a range of limits that apply to different kinds of claims, such as a cap on the amount of money you can claim back if something you take with you is damaged, lost, or stolen. 

So if you want to take expensive items with you, what are your options? Well, that depends on what items you want to take, how much they’re worth, where you’re travelling, and how you would like to insure those items.

What insurance options are available to cover your expensive items?

Here are some options available to help cover expensive items while travelling:

1. High-limit travel insurance policies
2. Single item travel insurance, listing specific expensive items, and relevant add-on cover to travel insurance policies
3. Stand-alone insurance policies (not travel insurance) for a specific expensive item that includes ‘worldwide’ cover
4. Portable contents insurance that includes ‘worldwide’ cover
5. Credit card insurance (if your card has this option) with worldwide cover.

1. High-limit travel insurance policies

Travel insurance policies typically cover luggage and personal effects up to a certain ‘claim limit’. A claim limit is the maximum amount you can claim if something you own is lost, stolen, or damaged while travelling.

Standard travel insurance policies generally cover ‘unspecified items’, which are luggage and personal effects that aren’t specifically listed on the insurance certificate for an agreed amount. Unspecified items can include things an insurer believes a traveller may take with them on a trip, like cameras and mobile phones. 

There may also be ‘sub-limits’ that apply for different groups of items and apply regardless of the value of a single particular item. It’s also important to note the insurer’s list of unspecified items might not cover every item you want to take with you, and might not provide cover for the full value of each item.

A hypothetical example may help to illustrate how this type of insurance works:

Samantha is going to Los Angeles and she’s purchased a travel insurance policy that includes up to $20,000 for unspecified items. There are sub-limits in the policy that puts a cap on what she can claim per item, including:

• $3,000 for camera equipment and personal computers like laptops
• $1,000 for mobile phones
• $750 for an unspecified item or set (including jewellery)

Samantha takes with her:

• a camera she recently purchased for $2,999,
• a $2,000 laptop computer,
• and two rings valued at $2,000 in total.

Even though the total value of Samantha’s items add up to less than $10,000, the sub-limits per item may prevent her from claiming their full value if they were lost. According to the conditions of her policy, she could claim the camera as a $2,999 single item and the laptop as a $2,000 single item, as they are both under the sub-limit per item for that category ($3,000).

Her rings, however, are valued over the single item claim cap of $750. They may also be considered a ‘set’ by the insurer. So Samantha could be at risk, if her rings were lost, of only being able to claim $750 (or $1,500 if they weren’t deemed a ‘set’) of the $2,000 value.

Also, she discovers her insurer does not cover the software on the computer, which could cost up to $500 to reinstall on a new laptop, which she would have to pay herself.

The above example shows why it’s a good idea to know:

• The value of the individual items you’re taking, either via a proof of purchase receipt or valuation certificate
• The total of the unspecified items covered in your policy
• If any sub-limits apply and in which categories
• If your items are above those sub-limits and the total claim limit
• If the level of insurance is enough to cover every item’s value if everything you’re taking was lost, stolen, or damaged.

If this type of insurance falls short, a traveller may consider taking on a more expensive policy with higher claim limits and sub-limits, or a policy that allows ‘specified items’ to be covered. It’s also worth talking to your provider and confirming what will and won’t be covered more broadly.

Which travel insurance providers have the highest standard cover limits?

Our expert Research team reviewed policies on our database to find examples of policies that offered the highest standard cover limits for unspecified items:

Source: Canstar - 13/10/2026. Based on public travel insurance products on Canstar’s database. *Refers to the maximum combined amount payable for replacing luggage and personal effects lost or damaged per single policy. Excludes multi-trip policies. Table sorted by international and domestic policies, then in descending order based on personal item cover limit amount, then alphabetically by underwriter, then alphabetically by provider. Read the PDS and terms and conditions before purchasing a policy.

2. Single item travel insurance, listing specific expensive items, and relevant add-on cover to travel insurance policies

Some travel insurers offer cover for specific items, as well as the option of adding on insurance and/or increasing claim limits for these specific items (usually at an extra cost). This is where you tell the insurer what expensive items you’re taking with you, hence the specified item policy description, and the insurer agrees to cover those items up to a certain value and with certain conditions.

Insurers tend to have different rules about what can be specified, and under what conditions you could make a claim for those items. For example, an insurer may not allow bikes, musical instruments, or watercraft (except surfboards) to be specified due to their overall cost and risk of theft and damage. Across policies, there can also be different claim limits and sub-limits applied to specific items too.

Also each insurer will likely require proof of ownership and value, which could be in the form of an original receipt or a valuation certificate, but make sure to check the Product Disclosure Statement (PDS) to confirm.

Which travel insurance providers have the highest specified item cover limits?

Our Research team reviewed providers on our database to find examples of policies that offered the highest cover limits for specified items.

Source: Canstar- 13/10/2026. Based on public travel insurance products on Canstar’s database. *Refers to the benefit limit for highest available specified high value item. Excludes multi-trip policies. Table sorted by international and domestic policies, then in descending order based on specified item cover limit amount, then alphabetically by underwriter, then alphabetically by provider. Read the PDS and terms and conditions before purchasing a policy.

3. Stand-alone insurance policies (not travel insurance) for a specific expensive item that includes ‘worldwide’ cover

Some insurers offer stand-alone policies that insure a single high-value item, usually for its full replacement value. Some of these policies also include ‘worldwide cover’, which means you’re able to travel overseas with the item and it will be covered if it’s lost, damaged, or stolen. Conditions and exclusions (things that won’t be covered) will apply, including where you plan to travel to and what you plan to do while you’re there. Check your PDS to find out what’s covered, as well as when and how you can claim.

For example, you can insure:

• High-value jewellery and watches with a dedicated jewellery insurance policy
• Mobile phones with a dedicated mobile phone insurance policy
• High-end bicycles and e-bikes
• Professional camera and drone gear
• Musical instruments
• Golf clubs and associated sporting equipment
• Hearing aids and other medical devices.

4.  Portable contents insurance that includes ‘worldwide’ cover

When you take out a contents insurance policy to cover the items in your home, it’s usually possible to add insurance that also covers these items when you leave it. Some insurers offer portable contents insurance as a separate product, while others include it as a standard feature on their contents insurance policies.

Generally, this type of cover insures items that regularly leave your home with you, like handbags, laptops, musical instruments, or sporting equipment. It can also cover items you keep on your person, such as glasses, wedding and engagement rings, or clothing.

Portable contents insurance typically provides cover for your items for theft and accidental loss or damage while you’re away from home anywhere in Australia or New Zealand. Some policies may extend this cover to other countries when you’re travelling for a certain period of time.

The policies could have:

• Unspecified item cover for items listed by the insurer in the policy, up to a certain limit per policy and per item type.
• Specified item cover for items you ask the insurer to include on your policy and for which you’ll receive cover (up to a certain limit).

However, to work out whether or not you might be covered, you’ll need to read the PDS or contact the provider directly. You may like to ask questions like:

• Where can you travel and be covered? If worldwide cover is included, what countries does the policy cover and are there any specific geographic exclusions?
• What items are included automatically in the policy? Can you add on other items? How much are the items covered for? How does this stack up against the value of the items you want to take overseas?
• How do you make a claim? What proof of ownership and value do you need?
• Do you need to let the provider know when you’re going to travel with the items, such as on an overseas trip or an extended Australian holiday?

5. Credit card insurance (if your card has this option) with worldwide cover

Some credit card packages include a range of insurances, such as:

• Travel insurance: Could cover claims made for loss, theft, or damage of expensive items (up to the claim and sub-claim limits) while travelling domestically or overseas, depending on the card and the type of insurance.
• Purchase protection: Could cover loss and damage of items purchased using the credit card, but may have exclusions. For example, travelling with the item or buying the item overseas may be excluded.
• Extended warranty cover: Extends the cover of the manufacturer’s warranty of specific items purchased using the credit card, which may help if you’re travelling with an item that stops working or breaks.

Which credit card providers have the highest standard item cover limits?

Our Research team examined the credit cards with travel insurance available on our database and found examples of some of the highest standard item cover limits.

Source: Canstar - 13/10/2026. Based on personal credit cards on Canstar’s database that offer complimentary travel insurances. *Refers to the maximum combined amount payable for replacing luggage and personal effects lost or damaged per single policy. Table sorted in descending order based on personal item cover limit amount, then alphabetically by underwriter, then alphabetically by provider. Read the PDS and terms and conditions before purchasing a policy.

These policies may provide cover for your valuables while you’re travelling, but there could be exceptions, exclusions, and coverage limits, such as:

• You may need to pay for a certain amount of travel costs on the card before going on your trip
• Time limits on travel
• Certain excluded items (like sporting equipment and musical instruments)
• The inability to purchase extra insurance for more expensive items, or to extend cover above the value limits listed in the policy
• What’s considered a ‘pair’ or a ‘set’, which could impact the value you could claim on a number of things (such as a camera, tripod, and lens)
• Whether or not you have to report the theft or loss to the police or an authority at your destination, and the time limit in which you must do so.

Typically, it costs more to have a credit card with this type of insurance included. This type of coverage is usually offered with credit cards that have higher annual fees and purchase rates like rewards credit cards.

As with all financial decisions, it’s a good idea to read and understand the PDS, TMD, and any other important documents given to you by financial institutions and providers.

What are some exclusions for travel insurance for high value items?

If your insurer deems you’ve been negligent or acted irresponsibly with your belongings, they’ll more than likely deny your claim. Here are some other common exclusions:

• Leaving belongings unattended, including in a vehicle and not making an effort to conceal or secure them in a safe compartment.
• Failing to report lost or stolen items to the relevant authorities like the police, as well as to your insurance provider within an appropriate timeframe.
• Being under the influence of alcohol or drugs when your belongings were lost, stolen, or damaged.
• If the item/s you’re claiming for do not have associated receipts or proof of purchase.
• If you lose your mobile phone or have it stolen and you cannot supply its International Mobile Equipment Identity (IMEI) number.

It’s important to check with your provider to see what exclusions apply to your policy.

Are there options for domestic travel insurance for expensive items?

Will your choices for travel insurance for valuables be different if you’re travelling locally versus abroad? Insurance options are generally similar if you plan on travelling within Australia or overseas. You may not necessarily be required to have ‘worldwide’ cover on your portable contents insurance or single-item insurance if you’re only travelling a short distance from your home. 

However, if you’re planning a long Australia-wide trip or are intending on travelling large distances within the country, you may need to check with your provider if specific items are still covered.