Travel insurance has gained popularity as a gift for Schoolies for parents’ peace of mind as teens head abroad to celebrate their annual rite of passage.
Fiji, Bali, Thailand, and even Vanuatu, a place more traditionally seen as a go-to for couples, stand as the top overseas getaways for Schoolies this year, according to Cover-More Travel Insurance data.
It’s a destination trend reflected in coverage, with the leading travel insurance and assistance provider noting these locations as the main focus of policies held by 17- and 18-year-olds during the Schoolies period, with parents stumping up the cost in many cases.
Among them is Sydney mum Pippa Price, who is covering the cost of the travel insurance for her son Oscar’s trip to Bali. It is a practical gift, one that gives her peace of mind as Oscar explores the tourist hotspot with a large group of friends.
“He’s a good kid and is quite well-travelled, but it gives you that extra level of comfort – you just want to make sure they’re covered,” Price said.
That includes having the right travel insurance to help cover medical costs if Oscar ends up injured from riding a scooter, moped, or motorbike, all popular modes of transportation in Bali.
“The one thing I am worried about is him getting on a scooter, as much as I’ve asked him not to, I think he will,” she added. “I want to make sure he’s covered for that. I’ve drilled into him that if he gets really dehydrated with gastro then he needs to go to a hospital, but it’s the bike I’m concerned about, with him being 18 and raring to go.”
Fiji is by far the No.1 overseas destination Schoolies have been seeking insurance coverage for, accounting for more than half of the Cover-More Travel Insurance policies for 17- and 18-year-olds during the Schoolies period. Bali was the second most popular destination, accounting for a third of policies in this demographic, followed by Thailand and Vanuatu.
Cover-More Travel Insurance CEO, Todd Nelson, said parents wanted their teens to have the time of their life on Schoolies, but were also looking to ensure they would be covered in the unlikely event something went wrong.
“For many young people, Schoolies is more than a holiday; it’s a milestone that marks the symbolic start of their transition into the next phase of their life,” Nelson said. “With so much focus on fun, freedom and exploration, an expensive bill arising out of situations like a hospital stay or medical evacuation is the last thing anyone wants from their Schoolies experience.
“Travel insurance provides an essential safety net to help ensure this rite of passage is remembered for only the right reasons. It’s about peace of mind for parents and a safety net for Schoolies.”
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