New Research from Aviva Shows Many Holidaymakers Under-Insured

According to the results of a new survey released today by Aviva, Singaporean holidaymakers are under-insured and startlingly unaware of the benefits of travel insurance.

The study showed that over half (51%) of travellers go on holiday with no insurance whatsoever on a regular basis, despite high levels (71%) experiencing major incidents or disruptions on holiday and nearly one third (31%) losing valuable items on their travels – all of which can be covered.

The study, which was commissioned by one of Singapore's largest direct online insurance companies to help the firm better understand the needs of travellers from the red dot, also revealed that many are completely unaware of what travel insurance covers.

An astonishing 49% didn’t know that travel insurance can cover the misconnection of scheduled (IATA) flights; whilst 41% were unaware they can be compensated if the airline they have booked with goes bankrupt. Worse still, nearly one third (31%) had no idea they can claim on the theft of valuables and one in five did not realise insurance covers medical fees for injuries caused by accidents.

The research went on to show that some holidaymakers believe travel insurance is completely unnecessary. One in four respondents said they feel insurance is not required for short trips, while one in ten aged between 21 and 30 stated it is not useful at all. This was greater than the number of those in the same age bracket that felt being insured was a necessity.

“We were shocked to discover that so many people are exposed to flight delays, lost baggage, medical expenses and a host of other unforeseen circumstances, which are sadly a reality of modern travel. All of these things and more are covered by Aviva's range of comprehensive travel insurance products, which start from as little as Sin$11.88. That's less than a tube of sun block!” said Paul Jackson, Head of General Insurance, Aviva Asia Pacific.

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