Youngsters 'failing' on travel insurance comprehension

Many people in the 18- to 24-year-old age bracket simply don't understand the benefits of travel insurance - and thus place their parents' financial security at risk when setting off on their travels, one expert has claimed.

Tom Griffiths, founder of travellers' information site gapyear.com, says that young people often view travel insurance as an "obligation" - and claims that many would give more thought to a purchase of pen knife than they would to the selection of an insurance policy.

"The younger guys - the 18-24 year old market - they're all indestructible. They think 'things aren't going to happen to me," he opined.

"I think the big thing is that they also don't understand insurance. A lot of the young travellers don't actually know what it is or what it does - they see it more as an obligation as opposed to actually understanding that it's useful for emergencies."

According to statistics from gapyear.com, around 25 per cent of travellers aged between 18- and 24-years-old either don't have insurance cover or are underinsured.


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