More Singapore travellers buying travel insurance amid increasing safety fears worldwide
Chubb’s Survey Reveals that nearly three quarters (72%) of Singapore travellers typically purchase travel insurance when travelling for leisure, including 61% who always do. For those who always do, 74% were aged 50 and older. These results were conclusions from a 2017 online survey conducted by Chubb Travel Insurance in which 1,747 Singapore travellers responded.
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Shown below are five insights of their travel and purchase behaviour:
1. Travelling to destinations considered unsafe is an increasingly significant factor influencing the purchase of travel insurance for 40% of respondents, an increase of 11% in contrast to survey results two years ago. Anecdotal accounts of traveling without insurance is the most influential factor in purchasing travel insurance (64%).
2. Coverage/benefits, as well as price remain as two of the most important factors to the respondents when selecting a travel insurer (99%). This is followed by quality of claims service (98%), and the reputation of an insurer (97%).
3. Flight delays continue to occupy the top inconvenience experienced when travelling overseas (54%). Falling ill is the next most common incident, where more than one quarter have fallen ill during leisure travel, with only 29% visiting a doctor after returning to Singapore.
4. 59% of the survey respondents who travel for leisure are married, including 43% who are married with children.
- Married respondents worry more about being injured in an accident.
- Single respondents are most concerned about stolen luggage/travel documents.
5. The biggest worry for all respondents when travelling for leisure is being injured in an accident (55%). Older respondents (those 30 years old and above) are most concerned about being injured in an accident during their vacations, while younger respondents (those less than 30 years old) fret most about about their luggage or travel documents being stolen.
With many long weekends coming up for overseas vacations, ‘Travel Smarter’ by being better prepared. Check out the Chubb Travel Insurance website - www.chubbtravelinsurance.com.sg before you leave for your holidays.
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Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.
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