More than 74% of Gen Z and millennial Australians are booking travel insurance just days before departure, with 25% doing it on the day they fly. With peak European summer holidays on the horizon for Aussie travellers, Zoom Travel Insurance is urging young Aussies not to fall into the ‘last-minute trap’.
Zoom Travel Insurance says many young travellers are unaware that most policies have a waiting period of 48 to 72 hours before certain benefits activate, including medical and cancellation cover.
“We know that young travellers are juggling rising travel costs, fluctuating exchange rates and tighter budgets,” said Natasha Sullivan, Marketing Manager at Zoom Travel Insurance.
“But travel insurance is one thing you simply can’t afford to skip or delay.”
The company warns that unexpected disruptions, such as illness, extreme weather, or natural disasters, may not be covered if the insurance is purchased after the event becomes known.
“That means if you fall sick or have to cancel just a day after purchasing your policy, you may not be covered,” Sullivan said.
“Buying your policy early covers you in the lead-up to your trip – not just once you’re in the air.”
“While it can be tempting to procrastinate your purchase, or skip it altogether, travel insurance can be a lifeline when you’ve invested significantly into your holidays,” she said.
“Airfares and accommodation costs are often non-refundable, and it’s always wise to buy your policy early to ensure you’re covered.”
Gen Z and millennials: Fewer trips, longer stays
Zoom’s latest data also sheds light on how young Australians are travelling post-pandemic. Gen Z (born 1995–2012) and millennial travellers (1981–1996) are taking fewer trips, but travelling for longer.
More than half of all travellers aged 18–29 booked trips of 14 days or more. Millennials aged 29–44 were also most likely to travel for at least 8 to 14 days.
“Given the current financial climate it is potentially appealing, and often more economical, to take fewer, longer trips, stretching one’s travel dollar further,” said Sullivan.
“We’ve seen a massive surge in young Aussies determined to make up for opportunities missed during the pandemic albeit on a shoestring budget.
“That often means cutting corners on travel insurance or leaving it to the last minute, which can backfire.”
Choose cover to match your plans
Zoom is also reminding travellers to choose insurance based on their specific activities and destination, rather than going for the cheapest option.
“Your policy should match your travel plans. Think about activities like skiing, hiring scooters, or even working abroad – you might need additional coverage that isn’t covered under standard cover,” said Sullivan.
With travel costs on the rise and overseas holidays often planned months in advance, Sullivan says the key is locking in your insurance early.
“If you’ve locked in your flights and accommodation, lock in your travel insurance too. It could save you thousands if something goes wrong before or during your trip.”
KARRYON UNPACKS: Aussie Gen Zs and millennials are travelling longer but insuring later. Delayed cover can mean no protection when it matters. For agents, it’s a sharp prompt: lock in insurance chats early—before that 72-hour window becomes a gap in cover.
