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November 16, 2018

Younger travellers more interested in travel insurance purchase

Younger travellers are more willing to buy travel insurance compared to their older peers, according to a report by Berkshire Hathaway Travel Protection (BHTP).

The study found 33% of millennials with children interested in buying more travel insurance this year.

On the contrary, 29% of boomers said that they were planning less travel insurance in 2019.

Younger travellers travel insurance

Younger travellers were also found placing more importance on tech-driven and customisable travel insurance compared to their older counterparts.

Among younger travellers, 43% said they were willing to purchase more travel insurance on getting a customisable offering. In case of older travellers, this figure was 21%.

Also, 38% of younger travellers wanted their travel insurance to be technologically advanced. The same view was cited by only 16% of older travellers.

Overall, travellers considered Ireland to be the safest destination and Colombia the least safe. Destination safety and terrorism were cited as key concerns by travellers across all age groups.

Notably, 41% of younger travellers found global politics to be a key travel threat. The same view was shared by only 12% of older travellers.

BHTP president Dean Sivley said: “Now in our fourth year of conducting the State of Travel Insurance research, we are seeing a trend that not just Millennials but more specifically Millennials with children are showing the most notable increase in travel insurance purchase intent.

“Millennials with children are also reporting that they travel to the most places and have indicated they are doing so even if risk, real or perceived, is involved.”

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