Tag: travel insurance trends

Millennials and Gen Z are buying travel insurance for their trips

Logan B.
Travel insurance - person on hammok on beach looking at phone

Those generations are notably more willing to purchase coverage than those older than them. Even in the face of inflation, Millennials and Gen Z are headed away on vacation and they are purchasing travel insurance to make sure that what they spend is covered against the unexpected. These two generations are far more willing to pay more to protect their vacation investments. Across all generations, 73 percent of people are willing to pay for travel insurance or refundable booking options for their trips, according to a recent report by the…

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Men buy more trip insurance but are also riskier travelers, survey

G. Turner
Trip insurance - airport during COVID-19 pandemic

Berkshire Hathaway Travel Protection research shows that men are more willing to take travel chances. While men are more likely to purchase trip insurance before they travel, they’re also more inclined to take risks amid the COVID-19 pandemic crisis, found a Berkshire Hathaway Travel Protection survey. Women are more likely to comply with government safety and health guidance. The survey also showed that while women are less likely to buy trip insurance, their travel is less risky. They are more likely to follow government recommendations for health and safety. Moreover,…

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AIG underscores travel insurance shortfalls in current ecosystem

Logan B.
Travel insurance shortfalls - Hand - Airplane

The changing nature of the travel industry as a whole has caused coverage to fall short of what it should be. AIG recently released a report on the current travel insurance shortfalls as travelers leave their agents behind. The report was titled “Insuring Travellers in the Digital Age.” The current travel comparison trend is boosting convenience but is leaving travelers under-insured. The AIG report pointed out that the average traveler will visit 28 websites throughout the 53 day period before they book their trips. The internet is offering them tools…

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Travel insurance trends head toward protecting travelers from terrorism losses

H. Cutner
travel insurance trends - phone security check

Interest in these coverage products has been on the rise due to a growing number of global events. Leading travel insurance trends aren’t just focused on hurricanes and illness anymore. A considerable number of traveler inquiries are now seeking to make certain that they are protected against losses from terrorism, too. This shift in the market has been greatly driven by the rise in terrorist attacks happening in popular travel destinations. Travelers feeling a growing concern about the way terrorism could affect their plans and are requesting information and are…

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Travel insurance coverage is being purchased for very specific reasons

Julie Campbell
Travel insurance Young Man Luggage Staning In Front Of Air Plane

Among the drivers that cause travelers to buy a policy, worries over hurricanes top the list. The results of a recent travel insurance survey have shown that there are some very specific reasons that consumers are purchasing this coverage, among which, hurricanes have been generated the largest amount of worry. The findings revealed that unexpected weather is enough to cause travelers to want to insure themselves. The research was conducted by a comparison website called InsureMyTrip. It determined that severe weather is making people the most worried about their vacation…

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Travel insurance sales spike as the MH370 mystery continues

Julie Campbell
business travel insurance

Fliers headed into or through the South East Asian region are feeling a higher sense of risk. In light of the heart wrenching disappearance of the Malaysia Airlines flight MH370 and the 239 people who made up its passengers and crew, travel insurance has become a product that fliers are packing with them much more frequently, as people feel rattled about the situation in the South East Asian region. This has occurred at the same time that some travelers have simply cancelled their plans, outright. Many people are feeling quite…

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Travel insurance fraud spikes in the UK

G. Turner
Travel Insurance

The summer heat wave is being blame for the sudden skyrocketing levels of fraudulent claims. Cancelled vacation and lost baggage travel insurance claims have risen sharply during the summer of 2013 and the heat wave that briefly held in place over the United Kingdom is being blamed. Vacationers frequently decided to stay home in the hot weather since they didn’t need to pay to seek it elsewhere. The travel insurance fraud associated with cancelling pre-booked vacations in order to opt to remain at home because the weather remained hot is…

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