Significant portion of Aussie millennials plan to travel without insurance: ICA

Almost eight in 10 Australians under 30 are planning to travel more often.

A significant number of under-30s are planning to leave Australia without the protections afforded by appropriate travel insurance, the Insurance Council of Australia said.

Citing the results of its joint survey with the Australian Government’s Smartraveller website, in general, Australians plan to travel more in the future but after two years of lockdowns, there is an atmosphere of caution amongst many of those intending to travel.

However, the 2022 joint survey shows that an alarmingly high number of people hold mistaken beliefs about the support they would receive from the Australian Government if something was to happen to them when overseas.

12% of under-30s are ‘active rejectors’ of travel insurance who consciously plan to travel without insurance, in comparison to 3% of those aged over 30. The most common reason given for this is being unsure that travel insurance is needed. 

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70%t of all respondents and 78% of under-30s say they are planning to travel more often in future in response to being unable to travel during 2020 and 2021. 68% said the pandemic has made them feel less confident to travel overseas and nine in ten (86 per cent) say they’ll be more cautious about travelling to places where it could prove harder to get back to Australia in a crisis.

More than two-thirds think that if an Australian has a medical emergency overseas, a representative will ensure they get the medical treatment they need. One in two believe that if an Australian has a medical emergency overseas the Australian Government will arrange and fund repatriation.

95% say that cancellation cover for claims relating to Covid-19 will be an important consideration when they come to purchasing travel insurance.