Travel insurance coverage purchasing is on the rise among Americans

travel insurance coverage - trip details

A Generali Global Assistance survey says 51 percent are now buying these policies.

Generali Global Assistance (GGA) published its travel insurance coverage survey finds, showing that Americans are purchasing these policies more often when they head away from home.

This, according to the Holiday/2021 Travel Sentiment Survey held from October 26 to November 5.

The GGA travel insurance coverage survey involved the participation of 1,138 travelers in the United States. It asked about their upcoming plans and preferences for heading away. The findings showed that 74 percent who said that they would be traveling this year were planning to do so during the holiday season. Moreover, 47.6 percent said that they intended to buy a policy to cover their 2020 trip.

“The average person’s willingness to travel is increasing and while there’s still plenty of pandemic related uncertainty, according to our Holiday/2021 Travel Sentiment Survey, most Americans are planning to travel domestically during the upcoming holiday season,” explained GGA CEO Chris Carnicelli.

“The pandemic has also impacted the average consumers’ willingness to purchase travel insurance with almost 60% of U.S. travelers indicating they are more likely to buy travel insurance now compared to their willingness to buy before the Covid-19 pandemic. Consumers’ demands around travel will continue to change in the wake of the pandemic and our team is consistently looking for ways to enhance our offerings in response,” Carnicelli added.

Travelers heading away in 2021 will be even more likely to buy travel insurance coverage for their trips.

The pandemic has had a substantial impact on Americans’ impression of the importance of buying protection or insurance to cover their trips. Among the survey participants, 58.1 percent said they had a greater likelihood of buying a policy for all trips from now on. Another 32.8 percent reported having every intention of buying a policy for the trips they would be taking in 2021.

When making a decision as to which insurer should cover the trip, there were certain factors that stood out as the most influential. Price was the most important factor for 33.3 percent of the survey participants. Another 19.4 percent felt that travel insurance coverage was the most important factor. Finally, 13.4 percent said travel insurance coverage - trip detailsthat online reviews and ratings were the factors with the largest impact on their choice.

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