DYNAMIQ IN THE NEWS: DON'T LET YOUR GETAWAY BECOME THE HOLIDAY FROM HELL
850,000 Aussie visits overseas without insurance
The Australian Travel Insurance Behaviour survey, commissioned by the Australian Government and the Insurance Council of Australia, doesn’t paint the prettiest picture of Australians and travel insurance.
A staggering 31 per cent of Australian adults have travelled outside Australia without insurance in the past three years, eight per cent in the past 12 months.
Yet it’s not a huge surprise the likelihood of having travel insurance increases as you grow wiser with 97% aged over 50 buying travel insurance last time they went overseas.
“Travelling without insurance can expose you and your family to life altering levels of debt," Dynamiq CEO Daniel Pritchard recently told ETB Travel News.
“The survey showed 72 per cent of uninsured travellers acknowledge they are exposed to this risk so it’s baffling that people are aware of this, but still go uninsured.
A real lack of awareness of what travellers are covered for is prevalent. More than a quarter (27 per cent) of survey respondents were not covered or were not sure they were covered for medical expenses.
In addition, one in ten survey respondents rode a motorcycle or moped while overseas and of those 63% were not definitely covered and 47% did not check their policy.
“Not being covered for medical expenses or for riding motorcycles is a real issue when you look at the amount of motor vehicle accidents occurring around the world.
“As the CDC notes, 1.24 million people are killed each year and 20–50 million are injured in traffic crashes and this number is likely to double by 2030.
The CDC also notes that just over half of the world’s vehicles are in developing countries yet more than 90% of road traffic casualties occur in them.
“Being covered for medical expenses is also important for both the serious and minor medical issues you might face overseas.
"Quite often I see cases, especially in developing countries, where a seemingly non-serious medical issue will quickly get out of hand and the patient will need to return to Australia for treatment. A medical evacuation is certainly not a cheap exercise so you want to ensure you’re covered for it.
“Obtaining comprehensive insurance and getting the right cover for the activities in which you’re participating overseas is vital to prevent your hard-earned adventure turning into the holiday from hell," Dan said.
Check out the Australian Travel Insurance Behaviour survey.
Daniel Pritchard is Dynamiq’s Chief Executive Officer. He has more than twenty years of international experience, and has managed global strategic and operational projects across a variety of market sectors including industrial chemicals and equipment, energy, government, technology and defence.