Many news outlets were reporting that travel insurance quotes have gone up since Brexit. This was largely down to the the fall of the Pound Sterling. This fall in the £ has pretty much put up all costs for Brits, particularly when they go on holiday.
The pound is bound to bounce back at some point once the terms of Brexit are settled and the economy grows again, but that does not mean that travel insurance for Brits will go reduce.
If the UK is out of the European Union then presumably it will be treated as a third country. This also means it’s citizens will be treated as such and this could see travel insurance rocket to the same sort of levels as when you visit America.
When you buy travel insurance you are usually presented with the following options; Europe, World without US/Canada, Worldwide. It in not inconceivable that the Europe option is taken away meaning you will pay the same for travel insurance if you are travelling to Australia or Austria.