Travel insurance: the attributes,consequences, and values of using travel insurance as a risk-reduction strategy

Risk seems all too often to be a travel companion. The purchase of travel insurance is one way to mitigate this, yet only a small body of research has examined consumer decision-making in this context. Using the Repertory Test and Laddering Analysis, this research examines the attributes of travel insurance, the consequences of its purchase and the terminal values that this satisfies. It presents a Hierarchical Value Map which tracks the customer journey. The study contributes to academic knowledge by identifying that not all attributes of travel insurance are brand-controlled and not all values are about reducing risk.