Tag: travel insurance policy

Travel insurance benefits may not be worth it, says Senator

H. Cutner
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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Average 2017 travel insurance policy covered far cheaper trips

G. Turner
travel insurance policy suitcase vacation

A recent Generali Global Assistance study showed travelers spent 19 percent less on covered trips. Among travelers who purchased a travel insurance policy last year, coverage was being applied to trips that cost an average of 19 percent less than they had the year before. The data was published by Generali Global Assistance, through its Travel Insurance division. The travel insurance analysis used the insurer’s proprietary data throughout the 2017 season. Throughout 2017, the average cost of a trip covered by a travel insurance policy was $1,883. This represented a…

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Revolut travel insurance covers you using geolocation tech in your phone

H. Cutner
Revolut Travel Insurance

This Fintech startup offers a subscription service offering international medical and dental coverage. The new Revolut travel insurance, the product of a Fintech startup, now offers international medical and dental coverage. The product involves the use of a mobile app and geolocation technology. For a small daily subscription fee, users are covered even when they travel from one country to another. The unique new form of Revolut travel insurance lets travelers purchase a basic cheap coverage that will follow them wherever they go, regardless of whether they head out of…

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Scam travel insurance claims are becoming more commonplace

Julie Campbell
travel insurance scam airport

According to recent data the most rapidly growing coverage segment is also a massive target for scams. Though auto policies have traditionally been the area in which insurers have traditionally had to be the most vigilant in watching for scammers, travel insurance has suddenly started to see the emergence of a new trend in false claims. The General Insurance Association (GIA) has reported that this insurance sector is growing exceptionally fast. The GIA has noticed this trend as a growing number of people travel overseas and recognize the importance of…

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Travel insurance for “snowbirds” to U.S. is proving expensive due to exchange rate

Julie Campbell
Travel Insurance

The low Canadian dollar is getting in the way of winter travelers who usually head south to the United States. The so-called “snowbirds”, that is, the Canadians who often spend their winter months in warmer American states, are facing struggles with the travel insurance they need to ensure they will have medical coverage while they’re away from home. This high cost of insurance coverage is the direct result of the Canadian dollar, which is hitting decade lows. Not only is it now more expensive for these travelers to exchange their…

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