Young Travelers Are Catching Up!
There’s another shift happening, the Indian travellers are choosing to buy travel insurance early, with 76 per cent locking in their policies 45-50 days before their departure. This must do a lot with the visa application timeline but with an increasing awareness about travel disruptions and sudden medical risks.
Moreover, around half of all Schengen travel insurance buyers fall under the Millennials and Gen X age bracket.
What are their motivations?
For Gen X, their family or business seems to be the travel focus often leading up to high coverage and full featured plans.
Millennials, on the other hand, seem to prefer fast, digital-first options that come with easy claim processing
Gen Z are also slowly catching up with their ‘budget conscious approach’. As per the report, they are also smart about picking riders like ‘gadget protection’.
Baby Boomers, who constitute a small fraction, are choosing for the most premium option available for them and often lock in comprehensive medical and evacuation coverage.