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Saturday, August 3, 2013

Gen Xers most likely to travel without insurance



Gen Xers most likely to travel overseas without travel insurance

Independent research conducted by SureSave has shown that Gen Xers are 30% more likely than Millennials (Gen Y) or Baby Boomers to travel overseas without travel insurance.

The research, involving 1,000 Australian respondents[1], showed that almost a quarter (24%) of 30-39 year olds said they had travelled overseas without insurance within the last two years. Travellers aged 60+ were the least likely to travel unprotected (13%), closely followed by 18-29 year olds (15%).

Michael Callaghan, Executive General Manager at SureSave, says the guidance offered by travel agents and online resources such as smartraveller.gov.au has been very effective in reinforcing the importance of travel insurance, but there is still more work to be done.

"If you travel without insurance, you're putting yourself at risk and there can be serious financial consequences. Even a short stay in a US hospital can cost a traveller tens of thousands of dollars if they're not protected. A travel insurance policy is a very small price to pay for coverage in the event that something goes wrong," says Callaghan.
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When asked about their attitudes towards travel insurance, 30% of all Aussies do not always purchase travel insurance, with 12% saying they never or rarely bother with travel insurance and 18% choosing to take out a policy depending on their perceptions of their destination.

"The good news is that 70% of all Australian travellers say they wouldn't leave the country without a travel insurance policy," says Callaghan.

"SureSave is investing in new research and materials to make sure travel insurance are products easy for travel agents to sell and for travellers to understand. This includes offering travellers a wider range of tailored policy options to ensure that all budgets and travel styles are catered for."

KEY STATISTICS:
  • 1 in 8 Australians say they never or rarely bother with travel insurance.
  • 30-39 year olds are 30% more likely than other age groups to travel overseas without insurance.
  • 70% of all Australian travellers say they wouldn't leave the country without a travel insurance policy.
About SureSave:

SureSave is a leading travel insurance provider. SureSave covers more than 300,000 travellers each year in Australia, is 100% Australian owned and is underwritten by Lloyd’s.
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