The warning comes in response to SCTI's 2024 Future of Travel report which found 2.4 million Australians would avoid taking out travel insurance to save money if they were under financial pressure. It is what was done.
SCTI said it has seen a number of complaints from Australian travelers resulting from “simple accidents that have resulted in expensive medical bills”.
Such incidents include a 14-year-old man who slipped and broke his arm while on vacation in the United States while trying to get out of a bathtub, and a 94-year-old man who fell and broke his hip in Fiji. This resulted in a bill of over $160,000.
SCTI emphasized that the cost of adequate travel coverage is often negligible compared to the cost of the trip itself. The company also pointed out that the medical costs incurred in an accident overseas are far less than the cost of simply paying insurance premiums.
“Many Australian travelers underestimate the potential costs of common travel incidents,” said SCTI CEO Joe McCauley. “From minor medical incidents to lost luggage, expenses can add up quickly and leave travelers in a precarious financial situation. Investing in travel insurance can help protect against these unexpected expenses. It's a simple but important step.”
The Future of Travel report also revealed that eight in 10 Australians are looking to reduce their travel expenses over the next 12 months in response to rising costs of living.
