A QUARTER of all Singapore travellers who did not buy travel insurance have regretted their decision, according to a study detailing the top travel mishaps to befall this group.
According to ACE Insurance’s online travel survey conducted with 525 Singaporeans in 4Q2014, 78 per cent of the respondents have experienced a travel mishap, with the top three mishaps being flight delays (54 per cent), falling ill (39 per cent) and baggage loss (19 per cent).
Although over 80 per cent travelled abroad for leisure more than twice a year, nearly one in four have regretted not buying travel insurance for their leisure travel.
While biggest travel worries included being injured in an accident (24 per cent), falling ill (23 per cent) and having valuables or travel documents stolen (15 per cent), the least concern was about political uncertainty and terrorism (nine per cent).
Interestingly, those aged 30 and below are more worried about loss or delay of luggage than those above 40 years old, who are more worried about being injured in an accident.
About 79 per cent of the younger respondents are also not likely to buy travel insurance for short trips, yet they travel more than any other age groups, with 64 per cent travelling more than twice a year.
ACE Singapore country president, Mack Eng, commented: “As more Singaporeans become avid travellers, there is a need to advocate ‘travelling smarter’ and to ensure that they are adequately protected.
“Travel insurance purchase is so convenient these days with the Internet and secured online payment. It is not surprising 65 per cent of respondents from all age groups who buy travel insurance, buy it online.”
The survey involved 525 participants in a study of their travel behaviour.
