It's pretty clear that millennials are in love with travel. The evidence is on Pinterest, Instagram, Facebook and confirmed by survey after survey.
The latest Millennial travel data shows they are traveling smarter too. Rather than foregoing vacation days, Millennials are using them all.
New research from TravelInsurance.com shows that Millennials are traveling longer and spending fewer dollars. The data indicated that Millennials spend as much as $1,000 less than other age groups when they travel and they take trips that are, on average, two days longer.
Other findings show that older Millennials take shorter trips than younger Millennials. Travelers ages 31-35 take trips that are 17 days long and 18- to 25-year-olds are gone for as many as 22 days.
Where are they going? Peru and Thailand top the list, differing from their older counterparts. Top travel destinations for all ages are the U.S. followed by the U.K., Mexico, Italy, France and Spain.
While longer vacations are great, TravelInsurance.com points out the necessity of having an insurance plan. Even if you are spending less money, protecting yourself and your travel investment is important.
"Travel can be an incredible experience for younger generations, whether a backpacking trip through Europe, an extended honeymoon throughout Southeast Asia or your first family road trip across the U.S.," said Stan Sandberg, co-founder of TravelInsurance.com.
"But if you worked hard all year and saved for your dream vacation, why risk losing all of that investment if something goes wrong? Protecting your investment as well as yourself and your loved ones on these adventures through travel insurance can be one of the best decisions you can make."
Sandberg points to many reasons why it's especially important for Millennials to obtain coverage, and the reasons go beyond just protecting an investment.
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Millennials have the highest uninsured rates of any generation. The longer travelers are away from home, the more likely it is that something could happen and travel insurance can help mitigate some of the expenses of getting sick abroad.
Transamerica Center for Health Studies (TCHS) research indicates that nearly half of millennials have minimized healthcare costs by skipping, delaying or stopping care. Travel insurance that includes medical coverage can be worth it on an extended break.
While a love of adventure is a key reason for travel, adventure has its risks. Travel insurance can ensure that you get the help you need wherever you are.
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