The 2019 SureSave Travel Insurance Index* reveals that a high number of Australians continue to view travel insurance as a necessity, with many opting to book their travel insurance on the same day as purchasing travel plans. Suresave is the leading provider of travel assistance and insurance in the agency channel.
In the 2019 SureSave Travel Insurance Index*, when asked if they view travel insurance as a ‘necessity’ when travelling overseas, 73% of Australians said that they ‘wouldn’t leave the country without it’. This is a 10% improvement from seven years ago when only 63% considered travel insurance to be a ‘must’ when asked the same question.
On the other hand, 7% admit that they ‘rarely or never bother with travel insurance’. This is a vast improvement on research results from 2012, when 22% said the same, opting never or rarely to bother with travel insurance. Today, 8% of Australians still say they only purchase travel insurance ‘sometimes, when I visit destinations that might be risky’, another improvement on the 2012 results when 15% of respondents saw travel insurance as a necessity only ‘when visiting certain destinations.’
However, when it comes to thoroughly reading the Product Disclosure Statement (PDS), 35% say they know exactly what they’re covered for, whilst 51% say they only skim-read over it and have a general idea of what they are covered for. Meanwhile, 7% admit they are not sure what they’re covered for.
Matt Endycott, Head of Agency Sales at SureSave, comments,
“We are continuing to see a number of Australians who are not purchasing travel insurance when travelling overseas. By taking out travel insurance, travellers are essentially covering themselves against travel risks such as stolen luggage or unexpected medical costs abroad,
It’s important to be adequately covered at all times, regardless of the travel destination, duration of trip or activities.
“Whilst significant progress has been made over the past eight years in regards to successfully explaining the importance of travel insurance, it is apparent that there remains to be Australians who still do not have adequate travel insurance cover when they travel. We at SureSave are here to ensure that agents are kept informed on the policy options so they can confidently inform travellers. That way, if travellers have all the relevant information, they can choose the appropriate level of cover for them.
“In addition, we strongly advise travellers thoroughly read the PDS before buying travel insurance to ensure that their policy provides them with the appropriate level of cover that meets all of their individual needs.” said Endycott.
More and more Australians are embracing technology as a means of carrying their travel insurance documents. In 2019, 28% of travellers said they carry an electronic copy of the PDS, which is a rise of 16% since 2015.
“We encourage travellers to keep a copy of their Certificate of Insurance with them when travelling as it contains the essentials needed when contacting our Emergency Assistance team. This can be accomplished by carrying the hard copy or digital copy (or both). While you can certainly carry the hot line phone number and policy number instead, if the travel insurance coverage needs verifying your coverage while travelling, it is important to have access to the plan certificate. The PDS is emailed to all customers prior to travel and is also conveniently available online and can be accessed easily at any point, should it be required. ”
For more information on SureSave, please visit https://www.suresave.com.au/.
*SureSave’s 2019 Travel Insurance Index is the company’s eighth consecutive annual independent research project. The SureSave Travel Insurance Index is an annual, independently commissioned piece of research, involving 1,000 respondents in Australia.
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