According to new data* from InsureandGo millennials are more likely to travel solo (67% to 55%) than baby boomers, who are twice as likely to travel as a couple (42% to 24%).
While millennial travellers have purchased more policies from the online insurer than baby boomers in the last 12 months, it seems both groups are on the same seasonal page – preferring to travel in the winter months of June and July.
In terms of policy purchases, baby boomers are more likely to shell out for additional coverage for a top tier policy and are more likely to purchase a mid-range policy than millennials.
“Despite all the talk about their differences, it seems baby boomers and millennials have similar habits when it comes to travelling and insurance. We’ve seen most baby boomers and millennials opt for mid-range and higher levels of cover. As would be expected, we do see that baby boomers tend to opt for the more comprehensive policies that can provide additional coverage for things such as income loss and curtailment, and higher limits for claimable items like baggage,” added Mr Etkind.