Most Australian tourists either have no insurance or have inadequate coverage

Recent survey results from Quantum Market Research, on behalf of the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade’s Smartraveller, shed light on the worrying trend of uninsured travel among Australians.

The alarming tendency that many people are venturing abroad without proper protection was brought to light by the poll, which included replies from 1,000 travelers.

According to the results, a significant 16% of Australians chose not to have travel insurance on their most recent international vacation, putting themselves in danger. A shocking 60% of travelers under the age of 30 have expressed a readiness to go on future travels uninsured, which is especially concerning given the frequency of this lack of coverage among younger travelers.

“These findings are concerning, as they suggest that a significant number of Australians are putting themselves at risk by traveling without considering potential health and safety risks or purchasing travel insurance,” warned Andrew Hall, CEO of the ICA. You won’t have access to or even be able to pay for services like Australia’s public health system once you depart the nation. A large portion of your vacation preparations should revolve around taking personal responsibility, so it’s wise to familiarize yourself with your policy’s specifics.

Why Australians either don’t have enough insurance or don’t have any at all
Significantly, the poll found that even among people with travel insurance, many were overconfident in their coverage and didn’t bother to read their policy details.

Only one-fifth of insured travelers admitted to reading and fully comprehending their PDS in its entirety prior to departure.

The decision-making process was also influenced by financial constraints; 15% of recent travelers who did not have insurance cited affordability as the main reason.

Worryingly, 34% of people surveyed said they would consider going without insurance altogether if the cost of travel continues to rise.

One in ten Australians may forego purchasing travel insurance altogether as a consequence of the cost-of-living problem, according to a report by Southern Cross Travel Insurance (SCTI), which was corroborated by the survey results.

Hall stressed the significance of carrying sufficient protection when traveling, particularly during the holiday season.

In case of unforeseen circumstances like a medical emergency, misplaced baggage, or airline cancellation, “travel insurance is as important as your passport; it can provide valuable protection,” he emphasized. “As the Christmas season approaches, we want to remind all Australians to be cautious and have enough insurance before going abroad.