Stats: Pandemic Prompts More Americans to Consider Travel Insurance

The COVID-19 pandemic has not only impacted the travel plans of Americans but also changed the way they plan and protect their trips. A recent AAA Travel survey revealed that over half (55 percent) of American adults are planning a vacation of at least one overnight stay before the end of next year, and are seeking travel insurance to protect their vacation investments. According to the survey, one-third (31 percent) of U.S. travelers are more likely to purchase travel insurance for their trips planned before the end of 2022, due to the pandemic.

The ability to cancel a trip and get a refund is by far the most frequently cited benefit of travel insurance, with 69 percent of travelers saying this is most important to them when considering travel insurance for an upcoming trip. According to AAA, these travelers should look into travel insurance policies that include a “cancel at any time” component, which could offer more flexibility and protection in the event a traveler needs to cancel their trip.

While travel insurance policies have historically not covered epidemics or pandemics, in response to shifting consumer expectations, some providers have started to introduce plans that cover some losses due to COVID-19 or other epidemic diseases. AAA recommends travelers consult the expertise of a knowledgeable travel advisor  to help plan their trips and evaluate the various travel insurance options available on the market.

Recent AAA Travel bookings have increased 11 percent over 2019 levels, and interest in travel insurance has increased in turn with sales of travel insurance doubling every year. Also, some international destinations may require visitors to carry travel insurance, to help cover any unexpected medical costs that may be incurred while visiting. A knowledgeable travel advisor can help travelers navigate these and other evolving travel requirements.

The AAA Travel survey also found that six in 10 Americans (60 percent) see the benefit of working with a travel advisor to plan their upcoming trips. According to the responses, travelers’ top benefits of working with a travel advisor reflect the important role they play in today’s more complex travel environment, including: to save time when researching or planning a vacation (40 percent); for help with complicated new travel restrictions/requirements (34 percent); to find the best deals (33 percent).

Source: AAA Travel

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