Americans more likely to buy travel insurance than they were pre-pandemic

Buy Travel Insurance - person waiting in airport

This crisis has drawn attention to the reality of risk and unexpected events that can suddenly occur. About 45 percent of Americans are likely to buy travel insurance to cover future trips as movement is introduced once more, according to a recent NerdWallet survey. The survey involved the participation of 2,000 adults across the United States. The research was designed to help better understand the impact of the COVID-19 pandemic crisis on the financial habits of Americans. What it found was that there was a greater likelihood that Americans would…

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Chubb and Travelers insurance companies win Louisiana bank DOJ settlement

A Louisiana bank will not be able to recover the $11.7 million DOJ settlement under its professional liability policies with Travelers Cos. Inc

The financial institution will not be able to recover the $11.7 million from the federal government. A Louisiana bank will not be able to recover the $11.7 million DOJ settlement under its professional liability policies with Travelers Cos. Inc. and Chubb Ltd. units. The reason is that the government was not the bank’s client, according to a ruling by the federal court of appeals last week. This most recent ruling upheld an earlier decision on the case from a lower court. IberiaBank Corp, a bank based in Lafayette, Louisiana, came…

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Consumers seek hurricane travel insurance coverage for their vacations this season

Hurricane travel insurance coverage - Hurricane in Key West

After a few years of activity during the Atlantic storm season, travelers are looking into their options. The last few years have come with active Atlantic storm season, encouraging travelers this year to look into hurricane travel insurance coverage. Travelers are looking into the types of policy available and how much it will cost. The hurricane season runs from June through November every year. While some seasons see barely any storm activity at all, others are highly active. This year has already seen storms and Barry managed to make landfall…

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Boeing 737 Max bans underscore importance of travel insurance policies

Boeing 737 Max Bans - Boeing 737 Plane

Travelers around the world are experiencing cancellations and delays due to airspace bans for the jets. Countries around the world, including the United States, European Union’s 32 nations, Canada and others worldwide have implemented Boeing 737 Max bans. These apply both to flight suspensions and movements in and out of airspaces. Travelers insurance is proving helpful for many travelers experiencing associated delays and cancellations. Travelers affected by the Boeing 737 Max bans aren’t just those flying in and out of the countries that have suspended the Max 8 and Max…

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Travel insurance benefits may not be worth it, says Senator

Travel insurance benefits - airport

Senator Edward J. Markey from Massachusetts released a report casting doubt on the coverage. Democrat Senator Edward J. Markey of Massachusetts issued a new report focusing on travel insurance benefits and whether or not they hold value. In it, he examined the travel insurance industry as a whole within the United States. According to Senator Markey, travelers aren’t getting the coverage they think they are. According to Markey’s report, travelers from the United States “get much less coverage…than they are led to believe.” This conclusion was based on an investigation…

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International travel insurance more common than domestic among Americans

International Travel Insurance - Woman tourist taking photos

More people in the U.S. purchase coverage if they’re traveling outside the country, says AAA Travel. Americans are more likely to purchase international travel insurance than coverage when they are traveling domestically, says a new AAA Travel study. Travelers are more likely to think they need coverage if they’re leaving the country. The research showed that almost four in ten Americans – 38 percent – will typically buy international travel insurance for their trips. Among those individuals, the most important benefit to those policies is trip cancellation defense. Among those…

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Travel insurance offers people surprising benefits for a staycation

travel insurance

Many people wouldn’t even think to buy coverage for a vacation whey they’re staying home, but there are advantages. Staycations have become quite popular over the last few years – particularly since the economic crisis – but while travel insurance may be a common purchase when you’re heading out of state or out of the country, many people don’t realize that it can offer them benefits when they’re vacationing at home, too. Despite the fact that added medical coverage isn’t required, there are more benefits to travel policies. Throughout the…

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