Do you still have complimentary travel insurance?

Posted 4 September, 2026 sa move team

Ever booked a holiday assuming your credit card had you covered for travel insurance? With banks recently announcing changes, it’s worth checking.

Trip cancellation, travel delay and luggage cover has been stripped from some credit cards’ complimentary travel insurance. Will more banks be doing the same in future?

With the phasing out of complimentary travel insurance on several credit cards this year, there have also been changes to cover, including international medical caps and raised excesses.

For a lot of cardholders, the complimentary cover they relied on for years is shrinking, and most won’t find out until they try to make a claim.

Why banks are pulling back

The timing isn’t a coincidence. The Reserve Bank’s pending surcharge ban and lower interchange fee caps are likely to squeeze the revenue that used to fund these extras.

While the reasons may be different, the pattern appears to be the same; cover that once felt like a freebie is being trimmed back or removed.

Check before you book

Cardholders may believe holding or booking with the card means their complimentary travel insurance automatically includes cover for cancellations, delays and lost luggage.

Product disclosure statements vary widely, and the gap sometimes only becomes obvious in situations including needing to cancel a trip due to unexpected events, or a bag goes missing.

With summer travel planning underway, now’s the time to check what your card covers and have a think about the travel insurance that’s appropriate for you. Before making a decision, review the Product Disclosure Statement (PDS) to understand what is and isn’t covered..

Royal Automobile Association of South Australia Limited (ACN 677 371 274, AR No. 228575) (RAA) travel insurance policies are issued by Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548) (Tokio Marine) through RAA as Tokio Marine’s authorised representative, and are administered by Tokio Marine Management (Australasia) Pty Ltd (ABN 69 001 488 455, AR No. 1313066) as Tokio Marine’s authorised representative. This advice is general only. Before you buy, consider the PDS/FSG and TMD available on the RAA website. Terms, conditions, limits, sub-limits and exclusions apply.