Travel Insurance Analysis: Commonwealth Bank Platinum

Information verified correct on October 22nd, 2016

Credit cards have become more than just an easy and safe way to avoid carrying around cash. Not only can you now also shop securely online and pay for just about anything anywhere in the world, you can also be rewarded and protected when you use your card.

One of the benefits you can enjoy on a Commonwealth Bank Platinum credit card is comprehensive travel insurance for you and your family. With travel becoming more and more accessible to people, the demand for travel insurance is also increasing.

Though one does not wish for any happenstance to occur during a trip, it is still wise to prepare for and be protected from those kinds of situations. Delayed flights, cancelled accommodations, and even lost luggage could make any well-planned trip a nightmare. Not only that, the extra money you may have to shell out for non-refunds of cancelled bookings can add to the stress.

Travel insurance is designed to reduce this stress and make trips more enjoyable. While you can buy travel insurance coverage, the complimentary insurance offered by credit card companies such as CommBank gives you a way to save money on the cost of coverage when you go overseas.

The eligibility conditions for your trip will depend on your situation and the card that you choose. For example, if you have an eligible CommBank Platinum credit card, you will automatically get a base level of cover for your trip for up to 6 months. You can also activate your coverage via NetBank to get comprehensive insurance and upgrade your policy for even more options.

But as travel insurance policies vary, it’s important to consider a range of factors before choosing between complimentary credit card insurance and a paid option. So let us examine the advantages and disadvantages of credit card travel insurance.

Travel Insurance – Is it for you?

Travel insurance is just one more thing to organise and think about when you’re going away. But you can save some time and money if you have an eligible Commonwealth Bank Platinum credit card. If you don’t have a CommBank Platinum credit card at the moment, you can weigh up the pros and cons below to decide if a card with complimentary insurance is worth it for you.


  • It’s complimentary. As stated earlier, most travel insurance linked to credit cards has no additional charge. With CommBank’s complimentary travel insurance, a base level of cover is automatically provided.
  • It is comprehensive once it is activated. By activating your CommBank complimentary travel insurance, you can get a greater level of coverage for your trip. You’ll also have options for upgrading your policy for key types of travel, such as cruises.
  • It can cover a spouse or dependent children. CommBank Platinum complimentary travel insurance will cover the eligible cardholders and their spouse or dependents travelling with them, providing they also meet the eligibility requirements for cover.


  • Taxis not included. While this credit card travel insurance policy cover most major ways of travel, it does not include taxi rides for some of the coverage options.
  • There are excess costs. If you need to make a claim under this travel insurance policy, you will still have to paid the specified excess costs related to each type of claim you make. Refer to the Commonwealth Bank Credit Card Insurances Product Disclosure Statement on the CommBank website for specific claim excess costs and requirements.
  • Credit card fees and charges. You’ll still have to pay the annual fees and any interest charges applicable your CommBank Platinum credit card.
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Commonwealth Bank Platinum card features

While free travel insurance is a valuable benefit when you plan to go overseas, it shouldn’t be the only reason you choose the Commonwealth Bank Platinum credit card. Some of the other features you can get on this type of card include:

  • Interest free days. If you pay your balance in full by the statement due date, you can get access to an interest free period up to a certain number of days for each statement period.
  • Extended warranty insurance. This coverage provides an extended warranty in addition to the Australian manufacturers’ warranty for eligible items purchased with your card.
  • Purchase protection insurance. This coverage offers up to 90 days protection against theft, loss or damage of eligible items purchased with your card.
  • Interest rates. All credit cards will apply interest rates to balances carried on the account. Make sure you check these rates for any CommBank Platinum credit card or other option you’re considering.
  • Annual fees. Platinum credit cards usually charge an annual fee. If you choose a CommBank Platinum credit card, make sure the benefits you get outweigh this cost so that you know you are getting value from the card.
  • Other fees. Commonwealth Bank Platinum credit cards may have other fees for certain types of transactions, such as ATM withdrawals or overseas purchases. Refer to your credit card Product Disclosure Statement or check the CommBank website for further information.

Commonwealth Bank Platinum complimentary travel insurance is issued by Allianz Australia Insurance Limited and offers both basic and comprehensive coverage for overseas travel. For more information on this insurance, you can refer to the Commonwealth Bank Credit Card Insurances Product Disclosure Statement, available on the CommBank website.

If you’re considering getting a CommBank Platinum credit card to make use of the complimentary insurance options available, make sure you also look at the other features and factor in any costs associated with the card. It’s also important to compare a range of other platinum credit cards so that you can find an option that suits your individual needs.

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51 Responses to Travel Insurance Analysis: Commonwealth Bank Platinum

  1. Default Gravatar
    peter | September 8, 2016

    I purchased my flight tickets with my Commonwealth platinum card. I will be OS for 9 months. I thought the insurance covered the whole time away but in trying to register it stated 6 months only and an additional fee if I wish to take up the travel insurance. If I don`t pay the fee am I insured for the first 6 months as I am not able to register my trip without paying the $ 560 excess?

    • Staff
      Ally | September 21, 2016

      Hi Peter,

      Thanks for your inquiry.

      Kindly note that is an online comparison service and does not represent any financial institute such as Commonwealth Bank.

      However, I was able to speak with their agent and confirm that there is a need to pay the excess if you wish to upgrade the policy.

      That said, I have emailed you the contact number of Allianz who are the underwriter for the cover so that you may get in touch with them directly.

      Also, you might want read through our Complete guide to Commonwealth Bank complimentary travel insurance as it’s something that you might be interested in.

      I hope this has helped.


  2. Default Gravatar
    Juan | August 23, 2016

    Our insurance covers more than you – your spouse or partner and up to 10 dependent children travelling with you are also covered.

  3. Default Gravatar
    Dr | April 10, 2016

    I am currently overseas and I lost my I watch would please tell me whom to contact to claim it on my platinum credit card with your bank. Let me know urgently please.

    • Staff
      Ysa | April 12, 2016

      Hi Dr. Kais,

      Please note that you have come through, an online comparison service, and is not directly affiliated with Commonwealth Bank.

      As stated on the Commonwealth Bank insurance policy:
      “If items were stolen, wilfully damaged, or accidentally lost, you must give us the police report number, or if the incident
      occurred while you were overseas, a copy of the report you obtained from the police or nearest government agency or authority. The report should be certified by the relevant authority as being a true and correct copy of the original.”

      You may wish to refer to the PDS link I’ve sent to your email for the CommBank insurance policy and Allianz Global Assistance contact details.

      I hope this helps.


  4. Default Gravatar
    RoD | March 24, 2016

    I have a diamond awards CBA MasterCard and an AMEX card. Do we have automatic complementary travel insurance within Australia with flights/ car hire purchases? Particularly interested to know what is the provision for car rental excess charges in case of accidental damage to a hire car.

    • Staff
      Sharon | March 24, 2016

      Hi Rod, thanks for your inquiry.

      As a CBA cardholder, you will automatically receive the Base cover complementary travel insurance. To be covered by the rental vehicle insurance excess charge, you need to have purchased motor vehicle insurance or damage waiver from the rental company or agency you rented the rental vehicle form. Please refer to the section under ‘Rental Vehicle Insurance Excess’ on this page for the full details.

      I hope this helps,

  5. Default Gravatar
    Cathie | March 14, 2016

    if my 18 year old son uses my Commonwealth Platinum card to purchase a return flight to Europe for 8 weeks, will he be covered for travel insurance?


    • Staff
      Sharon | March 15, 2016

      Hi Cathie, thanks for your inquiry.

      As per Commbank’s travel insurance cover PDF, the dependent child/children become eligible for the international travel insurance provided that he/she is travelling with the cardholder for the entire journey.

      For more details, please refer to the Credit Card Complimentary Insurance and Guaranteed Pricing Cover pdf I have sent to your email.

      I hope this helps,


  6. Default Gravatar
    Linus | October 10, 2015

    Hi, I am travelling overseas and plan to book my ticket worth $1200 using the CBA Platinum card, I will activate the policy via Netbank once i book my tickets. Please advise if i will be covered for travel insurance, Thanks.

    • Staff
      Sally | October 12, 2015

      Hi Linus,

      Thanks for your question.

      As long as you activate the insurance and ensure you meet the other eligibility requirements (e.g. any pre-existing medical conditions), you should receive cover.

      For a comprehensive guide of Commonwealth Bank’s complimentary insurance, please visit this page.

      I hope this has helped.



    • Default Gravatar
      Linus | October 12, 2015

      Thank You Sally !
      Kind Regards

  7. Default Gravatar
    Jennifer | September 16, 2015

    Hi I am travelling to Europe and the US next year. I have a Diamond Amex card and paid for my flights with that card. Am I automatically covered for travel insurance or do I need to apply or advise the bank at all before I leave?

    • Staff
      Jonathan | September 17, 2015

      Hi Jennifer,

      Thanks for your inquiry.

      As a Commonwealth Bank cardholder, you are automatically eligible for the International Travel Insurance Base Cover. However, if you want to activate or upgrade the policy, you may do so by simply logging on to Netbank. Please refer to the following link for the complete guide of Commonwealth Bank complimentary travel insurance.

      I hope this has helped.



  8. Default Gravatar
    Sherrie | August 20, 2015

    Hi can someone please write back to my email above to discuss travel insurance.
    I need to clarify that my partner and I are still covered
    We have been traveling so far for 6 months and need to make sure I’m covered for 12 months as advised by commbank over the phone and in store before we left
    I’m worried because I’ve read you have changed insurance providers and you know need to login and have a insurance number but we didn’t need that when we booked out tickets with your old provider
    We had a platinum card and it’s been canceled as we don’t need it being overseas (can’t afford bank charges) but was advised we would still be covered because we used the card to purchase our flight tickets
    I’ve also just read that you need a return ticket home to be covered but we also don’t have this because we only purchased one way tickets as we are going to be traveling for about 3 yrs
    I was also advised that this wasn’t a problem we are ok

    If someone can email me directly for reassurance that would be fantastic

    Kind regards


    • Staff
      Jonathan | August 20, 2015

      Hi Sherrie, thanks for your inquiry!

      Diamond cardholders are eligible for up to 12 months of cover. You may like to refer to our complete guide on the new insurance policy from Commonwealth Bank. Please also refer to the PDF I have sent to your email (page 10, definition journey) for the details you are looking for in print.



  9. Default Gravatar
    Ursula | July 30, 2015

    Hi I have just paid a deposit of approx three thousand dollars via my platinum card for my international travel. Is cancellation covered in the event I am unable to travel. When does the travel insurance commence I.e, from time of payment for cancellation or other and where do I get a policy from. Is it necessary to inform the insurers of payment and trip details. Thanks

    • Staff
      Sally | July 31, 2015

      Hi Ursula,

      Thanks for your inquiry.

      Your insurance company is Allianz and has the sole authority to issue your Activated Policy.

      Your trip cancellation will be covered in the event that you fail to travel for the following reasons listed on this page. Your cover will commence immediately provided that you get a return overseas travel ticket or you have paid for A$1,000 of your prepaid travel expenses via your Commonwealth Bank Platinum account before leaving Australia.

      Please also note that it is not necessary for you to inform the Commonwealth Bank of your trip details as the policy is automatically activated once the above conditions are met.

      I hope this has helped.



  10. Default Gravatar
    robert.h.antrobus | July 27, 2015

    Am I covered for travel insurance in Australia? Do I need any documents or travel insurance number before leaving? I am a platinum cardholder and are travelling to Birdsville for five days.

    • Staff
      Jonathan | July 27, 2015

      Hi Robert,

      Thank you for your comment.

      You need activate first your insurance via NetBank or over the phone. You‘ll receive a Certificate of Insurance with a personalised policy number. Please refer to page 26 of the PDF I have sent to your email for the travel insurance eligibility requirements.

      I hope this helps!



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