Aussies scrimping on travel insurance
Australians are foregoing insurance when they travel because of concern about the global financial crisis, according to research from direct insurer 1Cover.
The company, which is underwritten by Allianz Australia, says 70% of more than 1300 travellers interviewed for a survey admit they travel without insurance and one in five say it’s too expensive.
1Cover MD Eddie Feltham says 4.3 million Australians or 36% have been a victim while travelling in a situation that could have been covered by insurance.
One-third of Aussie travellers don’t believe travel insurance is necessary if they visit a “safe” place and don’t take part in dangerous sports, while 16% don’t buy insurance because they say they are “careful”.
The research shows 22% of claims are due to delayed or lost luggage, 9% for injury or illness, and 9% for cancellations due to strikes or natural disasters.
The company, which is underwritten by Allianz Australia, says 70% of more than 1300 travellers interviewed for a survey admit they travel without insurance and one in five say it’s too expensive.
1Cover MD Eddie Feltham says 4.3 million Australians or 36% have been a victim while travelling in a situation that could have been covered by insurance.
One-third of Aussie travellers don’t believe travel insurance is necessary if they visit a “safe” place and don’t take part in dangerous sports, while 16% don’t buy insurance because they say they are “careful”.
The research shows 22% of claims are due to delayed or lost luggage, 9% for injury or illness, and 9% for cancellations due to strikes or natural disasters.