Australian travellers gamble on skipping insurance

Just about every time I open a newspaper there is a sob story.

Someone fell out of a raft and suffered head injuries. Or slipped on the pavement and broke a leg. Or suffered a heart attack somewhere remote. Or missed their flight. 

And, invariably, someone has opened a Go Fund Me campaign for these unfortunate folk, who were too stupid - or too cocky - to take out travel insurance.

A new survey has revealed that one in seven Australian travellers (14%) went on their most recent overseas trip without any travel insurance coverage – a trend that is particularly pronounced among younger travellers, with 23% of under-30s gambling on going uninsured.

The survey of 1001 travellers, conducted by Quantum Market Research on behalf of the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade's Smartraveller, found that two-thirds (65%) of those who travelled without insurance gave it some thought before deciding to go without. 

Almost a third of those travellers (31%) deciding to forgo insurance due to travelling to a destination they perceived as safe.

"Travelling anywhere, whether it’s overseas or domestically, is the highlight of many people’s years, but even when travelling to destinations perceived to be safe the unexpected can still happen," said ICA CEO Andrew Hall. 

"Understanding your policy and assessing what kinds of activities you plan on undertaking while you’re travelling is the best way to make sure you’re protected.

"We encourage any travellers to understand their exclusions and assess whether they need additional cover for any risky behaviours they're considering. Check Product Disclosure Statements and speak directly to insurers with any questions."  

Other findings of the survey include: 

Willingness to take risks: A large portion of travellers (45%) were willing to take risks in pursuit of unique or memorable experiences, such as trying unfamiliar foods and visiting challenging environments. 

Medical tourism: Close to half (46%) of travellers had, or would personally consider, travelling overseas for a medical procedure - most commonly dental care (30%). The most common motivation was the lower cost of treatment. 

Alcohol-related risks: While 70% of Australian travellers consumed alcohol while overseas, well under half (43%) understood that travel insurance policies vary significantly in their coverage of those affected by alcohol. 

The current global political environment: Over half (56%) of travellers agreed that the current global political environment has meant that there are countries they had planned to visit but they will now avoid. 

Full survey results can be found on the Smartraveller website.

Image: Kaitlyn Thurlow, Scop.io