World Nomads reduces travel insurance costs for young adventurers

Global travel insurance company World Nomads is introducing a 15 per cent reduction in travel insurance premiums for young travellers.

Over 80 per cent of its policies in the UK are for travellers under the age of 40 and World Nomads’ sales statistics suggest they are increasingly seeking coverage for far-flung destinations.

Sixty per cent of its policies in 2023 have been sold for destinations outside of Europe, with Asia, Australia, and New Zealand making up 20 per cent sold this year. Policies for Thailand have surged by 10 per cent in 2023.

In addition, 40 per cent of policies sold now cater to journeys lasting over two weeks, extending up to three months, reflecting a trend towards more elongated travel periods. 

“This year we have seen a sales spike for long-haul destinations – and travellers want to stay longer too,” said Jonathan Frankham, General Manager UK and Europe. “But the cost of living crisis hits this demographic hard. Too many travellers are prepared to take their chances – which is just a false economy. Medical expenses, extreme weather, strikes, cancellations and even war have all hit the travel headlines recently, and these events can prove very costly if you have no travel insurance back-up.”

He added: “An average policy claim in the UK is over £400, so getting a good-value travel insurance policy covering the time you are away, the destination you are going to and activities you plan to do is a no-nonsense no-brainer.

“For example, a typical 25-year-old male traveller heading to Thailand from 1–15 November will now cost just £69.50. This is drastically less than the average cost of UK claims, at £431.76, which we anticipate will leave travellers with extra funds to explore, experience, and create lasting memories.”