Travel insurance booms during economic crisis
More Australians are buying travel insurance than ever before and instead of foregoing travel are opting for cheaper overseas holidays as the economy weakens.
Research by AAMI shows 95% of Australians say they wouldn’t sacrifice travel insurance to save money.
Just six months ago, a different AAMI study found 28% of Australians did not buy travel insurance when they went on a holiday. A quarter of those said it was an added cost they couldn’t afford.
At a time when Australians are financially struggling it seems the risk of travelling without insurance is too great.
AAMI Executive Manager Operational Services James Merchant told insuranceNEWS.com.au online travel insurance purchases are increasing because it is cheaper, more convenient and has a simpler claims process. He says online business is safer as direct insurers have a brand to protect.
Research by AAMI shows 95% of Australians say they wouldn’t sacrifice travel insurance to save money.
Just six months ago, a different AAMI study found 28% of Australians did not buy travel insurance when they went on a holiday. A quarter of those said it was an added cost they couldn’t afford.
At a time when Australians are financially struggling it seems the risk of travelling without insurance is too great.
AAMI Executive Manager Operational Services James Merchant told insuranceNEWS.com.au online travel insurance purchases are increasing because it is cheaper, more convenient and has a simpler claims process. He says online business is safer as direct insurers have a brand to protect.