Live Chat

May I help you?

Begin Chat
Insurance Article

ICICI Travel Study: Only 40% Indians avail Travel Insurance

December 18 2015
Only 40% Indians avail Travel Insurance

although 90% of the respondents were aware of travel insurance, only 40% purchased it to secure their international trip. The lack of enthusiasm to avail travel insurance stems from lack of understanding pertaining to insurance benefits. The study was conducted on people in the age bracket of 25 to 35 years and looked into their travel habits. It covered a sample size of 1049 spread across six cities.

The survey stated that 90% of the respondents preferred to travel based on their savings and choose international destinations over domestic ones. 22% considered Singapore while 11% opted for Australia as their dream destination. Culture, heritage, health and hygiene were considered as important factors by respondents before choosing a travel destination.

Sanjay Datta, Chief, Underwriting, Claims and Insurance at ICICI Lombard said, "For some reason, travelers avoid buying insurance. They believe nothing will happen to them. Most travelers are under the belief that travel insurance is expensive. But if you compare the cost of insurance with the risk you are taking on yourself and your family, who is least prepared to handle an emergency, it is worth considering".

Write a review