Changes to travel insurance offered with credit cards are likely to mean more people consider standalone options, according to Cover-More.

Chief sales officer Mike Stein says it is too early to quantify the impact, but some customers will seek a standalone policy because their card no longer provides travel insurance or the cover no longer suits their trip.

“The standalone market is likely to attract more first-time or infrequent buyers who are accustomed to receiving travel insurance as a card benefit,” he told insuranceNEWS.com.au.

“These travellers are now being asked to make a much more active and informed decision about the protection they need.”

But Mr Stein says it cannot be assumed every affected customer will make the move, and the concern is that a traveller may not realise something has changed and head overseas believing they have the same protection as previously.

Reserve Bank changes this month remove card payment surcharges and lower the interchange fees banks can charge, causing lenders to overhaul card-related offerings, including reducing or removing complimentary travel insurance.

“There is an opportunity for the standalone market, but it is also an important moment for our industry to support travellers,” Mr Stein said.

“That means making travel insurance easy to access, use and understand, so customers know what has changed, can make an informed choice and avoid an unintended gap in protection.”