The findings of a study undertaken by Australian travel insurer 1Cover show that 46 per cent of travellers believe an insurance policy only kicks in once their holiday has actually started, and are thus completely ignorant of the fact that cancellation of a holiday before it even begins is remarkably common. Richard Warburton, chief operating officer of the firm, commented on the findings: “Waiting to book travel insurance until just before you depart is an easy mistake made by many, but it’s one that could end up costing thousands if plans go awry in the lead up to a trip. As soon as you’ve locked in the travel dates, you should be booking travel insurance.” He pointed out that there’s no extra cost for booking early, customers just get the benefit of the cancellation cover. Twelve per cent of Australians claimed for a cancelled holiday in 2020, according to research from the company.
Warburton speculated on the reasons why people don’t buy insurance when they book their trip, suggesting that really, people just aren’t aware of the benefits available to them. “There’s also a perception that travel insurance is expensive,” he added.