Stats: 38 Percent of Americans Purchase Travel Insurance

Around four in 10 Americans, 38 percent, say they would likely buy travel insurance for future international trips according to a recent AAA Travel phone survey. Trip cancellation protection, with 88 percent of respondents citing it, ranked as the top reason for purchasing.

Other leading factors for buying travel insurance included the cost of the trip (70 percent), personal or family health concerns (69 percent), how far in advance the trip is booked (61 percent) and recommendations made by friends or family (57 percent).

From 2016 to 2017, AAA members purchasing travel insurance increased by 13 percent. In 2018 its travel insurance sales have risen over 20 percent year-to date. Based on data from AAA’s travel insurance partner Allianz Global Assistance, insured trips in 2017 were 18 percent more expensive than 2016.

According to Bill Sutherland, the senior vice president of AAA Travel and Publishing, over 30 million family travelers will go to an international destination in 2018, a nine percent increase from 2016. Sutherland cited family emergencies and natural disasters as the main unknowns concerning travelers.

AAA, a not-for-profit organization established in 1902, offers travel, insurance, financial and car-related services to more than 58 million members. It based its data on a phone survey it conducted of 1,003 adults in the United States.

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