As thousands of school leavers make their final plans for Schoolies – a rite of passage for Australian teenagers – Understand Insurance is urging parents and their children to think about having the right insurance cover.
Understand Insurance research reveals one in four young adults (24 per cent) believe it is acceptable to travel without insurance, compared with just 12 per cent of travellers over 30.
And though figures from the Department of Foreign Affairs and Trade show Bali and Fiji are the most popular overseas destinations for schoolies, it is unlikely travel insurance is high on the list of priorities of school leavers.
But Understand Insurance spokesperson Campbell Fuller says the consequences of travelling without insurance could be financially devastating, and the Australian Government does not pick up the pieces if something goes wrong.
He says parents and teens should also be aware not all travel insurance policies cover risky activities, such as adventure sports and using motorcycles and mopeds.