One in six Australians are not covered when travelling – ICA

The ICA CEO expressed that travel insurance is as important as passports.

About one in six Australians (16%) did not have any form of travel insurance on their last overseas trip, the Insurance Council of Australia reported.

“These findings are concerning, as they suggest that a significant number of Australians are putting themselves at risk by travelling without considering potential health and safety risks or purchasing travel insurance,” Andrew Hall, CEO of the Insurance Council of Australia (ICA) said.

A recent survey conducted by Quantum Market Research on behalf of the Insurance Council of Australia and the Department of Foreign Affairs and Trade's Smartraveller has revealed a concerning trend of uninsured travel among Australians. 

Younger travellers, specifically those under 30, were more likely to travel without insurance, with 60% expressing a willingness to consider travelling overseas without coverage in the future. Even amongst those with travel insurance, 19% admitted to not thoroughly reading their policy documents, indicating overconfidence about their coverage.

Also, one in seven (15%) of those who travelled without insurance stated that they did so because they couldn't afford it. In response to the rising cost of travel, 34% of respondents said they would consider travelling without insurance to save money.

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The majority (86%) of travellers expressed a willingness to find ways to keep costs down while travelling, potentially increasing their risk exposure.

“Things we take for granted in Australia, such as the public health system, are not free or even available to you once you leave the country. Personal responsibility plays a big part in your travel plans and it’s important to read the details of your policy, so you know you are covered,” Hall said.

The CEO further emphasised the equal importance that travel insurance holds with passports. Hall added, “As we head into the holiday season, we urge all Australians to make sure they are properly insured before travelling overseas and to be aware of the risks they are taking.”

The survey, which gathered responses from 1000 travellers, found that a significant number of Australians are putting themselves at risk by travelling overseas without adequate protection.