Just under half of millennials buy travel insurance

TravelInsurance1Just under half of millennial travellers regularly purchase travel insurance for their journeys, according to the CWT Connected Traveller Study.

More than 1,900 travellers from 16 countries were surveyed to understand the difference in attitude between millennials and older travellers.

Whereas 49% of millennials opt to get travel insurance cover, it is less of a priority for older travellers as just 36% of generation X and 31% of the Baby boomer generation choose to purchase it.

Just under 60% of millennials – those between the ages of 24 and 34 – travel with other people, while 43% jet off with colleagues from work and 15% go with their friends and family.

In contrast, more than 70% of the Baby boomer generation travel on their own, while only 23% and 6% travel with work colleagues or friends and family, respectively.

“We see a massive generational shift among the habits of younger travellers. Millennials are far more sociable when they travel, love technology and are most concerned about their own personal safety,” said Julian Walker, Carlson Wagonlit Travel’s Head of External Communications.

Nearly one-third (29%) of millennials have cancelled a trip due to security concerns, compared to 20% of those aged between 35 and 51, and just 12% of Baby boomers.

Millennials are also more inclined to keep in touch with loved ones when travelling, with 45% revealing they contact family or friends at least once a day.

Skype is seemingly the method of choice for millennials, with 31% of using the video calling platform to stay in touch with loved ones, as opposed to just 17% of Baby boomers.

When it comes to maintaining contact with colleagues, email is everyone’s preferred option, although millennials were found to be much more likely to pick the phone up and call than anyone else.

If you’re thinking of travelling overseas in the coming year, be sure organise your multi-trip insurance in advance.

Date Created: 01 December 2017

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