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Report Overview
The Australia travel insurance market, valued at AUD 11.48 billion in 2025, has experienced significant growth, driven by its provision of coverage for unforeseen expenses, such as medical emergencies and trip cancellations, ensuring financial protection. The market is forecasted to grow at a compound annual growth rate (CAGR) of 4.10% from 2026 to 2035, potentially reaching AUD 17.16 billion by 2035, as it offers protection against trip cancellations, delays, or interruptions caused by unexpected events, reducing financial losses.
- According to the Australian Bureau of Statistics, the short-term departures of Australian residents increased to 881,070 in January 2024.
- According to the Australian Trade and Investment Commission, overnight trips have increased to 111.6 million in 2023 from 10.0 million in 2022.
- As per the Australian Bureau of Statistics, in January 2024, the short-term visitor arrivals in Victoria increased by 59,950.
Compound Annual Growth Rate
4.1%
Value in AUD billion
2026-2035
Single-trip travel insurance is driving the Australia travel insurance market growth as these are chosen by individuals or travellers due to their cost-effectiveness and customization.
These are more affordable than the other types of insurance coverage as these are taken generally for short-term vacations, specific travel events and frequent trips within a year. Its benefits and coverage can be modified to match the specific needs of travellers.
| Australia Travel Insurance Market Report Summary | Description | Value |
| Base Year | AUD billion | 2025 |
| Historical Period | AUD billion | 2019-2025 |
| Forecast Period | AUD billion | 2026-2035 |
| Market Size 2025 | AUD billion | 11.48 |
| Market Size 2035 | AUD billion | 17.16 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 4.10% |
| CAGR 2026-2035 - Market by Region | Australian Capital Territory | 4.7% |
| CAGR 2026-2035 - Market by Region | Queensland | 3.7% |
| CAGR 2026-2035 - Market by Insurance Coverage | Annual Multi-trip Travel Insurance | 4.5% |
| CAGR 2026-2035 - Market by End Use | Business Travelers | 4.6% |
| Market Share by Region | New South Wales | XX% |
Increasing product innovations and customisation in travel insurance products due to evolving customer needs and preferences have expanded the Australia travel insurance market size. Insurance companies provide customizable add-on benefits in insurance products such as coverage of medical conditions, rental car insurance and pet care insurance.
Southern Cross Travel Insurance has revamped its travel care insurance policy to meet the specific needs of travel insurance customers who are pet owners and have introduced cover for additional pet care.
"Australia Travel Insurance Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Insurance Coverage
- Single-trip Travel Insurance
- Annual Multi-trip Travel Insurance
Market Breakup by End Use
- Business Travelers
- Family and individual Travelers
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Australia Travel Insurance Market Share
Business travellers often require specific coverage for trip cancellations, interruptions, and medical emergencies related to work-related travel. They also seek policies that include coverage for business equipment and liabilities. Family and Individual Travelers typically look for comprehensive travel insurance plans that cover a wide range of risks such as trip cancellations, medical emergencies, baggage loss, and personal liabilities during leisure travel.
| CAGR 2026-2035 - Market by | Region |
| Australian Capital Territory | 4.7% |
| Queensland | 3.7% |
| New South Wales | 3.3% |
| Victoria | XX% |
| Western Australia | XX% |
| Others | XX% |
Leading Companies in the Australia Travel Insurance Market
The growth of the travel insurance market is fueled by increasing international and domestic travel creating the need for travel insurance products, companies provide customised solutions to individuals.
- Allianz Australia Limited
- Zurich Financial Services Australia Ltd.
- nib Travel Services (Australia) Pty Ltd.
- Fast Cover Pty Ltd
- AIG Australia Limited
- 1Cover Pty Ltd.
- Australia Post Group
- American Express Company
- AWP Australia Pty Ltd
- Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.10% between 2026 and 2035.
Based on the type, the travel insurance market is bifurcated into single-trip travel insurance and annual multi-trip travel insurance.
Key players in the industry are Allianz Australia Limited, Zurich Financial Services Australia Ltd., nib Travel Services (Australia) Pty Ltd., Fast Cover Pty Ltd, AIG Australia Limited, 1Cover Pty Ltd., Australia Post Group, American Express Company, and AWP Australia Pty Ltd among others.
The different end-use in the travel insurance market include business travellers and family and individual travellers.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, and Western Australia and others.
In 2025, the Australia travel insurance market reached an approximate value of AUD 11.48 billion.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach a value of around AUD 17.16 billion by 2035.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| Report Features | Details |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Insurance Coverage |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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