Both paid and unpaid breaks are on the rise, with 53% of organisations reporting they offer sabbaticals to all staff in their benefits packages
A rising trend in ‘grown up gap years’ is leading to millions of people taking sabbatical from work later in life.
New research from MoneySuperMarket today reveals how 4.9 million Brits have taken a sabbatical from work – defined as time over and above normal paid leave from the workplace – including a third of over-40s.
Recent years have seen an explosion in mid-career sabbaticals – from those in their late twenties wanting to see the world now their career is underway, to newlyweds celebrating with an extended break and parents with older, independent children.
Both paid and unpaid breaks are on the rise, with 53% of organisations reporting they offer sabbaticals to all staff in their benefits packages.
Yet four in 10 (39%) people didn’t know about a clause that could invalidate their home insurance while they’re out of the country.
Failing to notify your home insurance provider of a trip longer than 30 days can invalidate your policy, meaning many insurers won’t pay out.
Nearly a fifth of Brits (17%) have put their homes and belongings at risk by going away for more than 30 days without notifying their insurance company.
Younger people are driving the grown up gap year travel trend, with nearly half of Gen Z and Millennials having either been on a sabbatical or currently planning one, compared to 30% of Gen X and 24% of Baby Boomers.
The average cost of a grown up gap year is £9,553.44. Three in 10 (28%) travelled with a partner while 19% went solo and 21% travelled with kids. Among those who have taken one, 13% left the country for more than a year, while 20% went for between six months and a year.
Nearly half of Brits (47%) said they took a sabbatical simply because they needed a break from work, while 35% wanted to ‘reevaluate their life’. Nearly a quarter (23%) missed out on travelling before they started working and 18% wanted to travel before settling down to start a family.
Research comes as UK property insurance payouts are set to hit their highest level in nearly 20 years, driven by high building costs and the effects of climate change.
Claims paid by insurers in 2024 will total £5.5bn according to external analysis3 – the highest level since 2007 when torrential summer floods broke records and were classified as a natural disaster.
MoneySuperMarket’s research shows that four in 10 people surveyed had made a claim on their home insurance in the last five years, with an average pay out of £10,2164. Escape of water is the top cause of home insurance claims, according to MoneySuperMarket data.
Milly Whitehead, 54, is co-founder of The Leap and an expert in mid-life travel. She said: “Mid-life travel is all about empowerment. It’s about having that adventure so you can move to the next part of your life feeling invincible.
“But it is so important to make sure you prepare correctly to do that. It is astonishing that more people don’t know that they have to tell their insurance provider if they are away for more than 30 days.
“We always work with the people who travel with us to make sure they are properly covered for everything planned, so they can enjoy their adventure.”
MoneySuperMarket’s home insurance expert Kara Gammell said: “It’s great that more people have the opportunity to take a sabbatical, but there’s lots to think about when you’re planning such a big trip.
“Getting the right travel insurance is crucial, but you should also make sure your home and possessions are protected while you’re away. You need to let your home insurance provider know if you’ll be away for more than 30 days and if necessary take out unoccupied property cover to protect your home. It’s as simple as a phone call or logging into your policy online to do and means you can enjoy your trip worry free.”
