Trends in travel insurance from TripAdvisor
Travel Insurance News - 16/06/2008
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One of the largest travel communities worldwide, TripAdvisor, recently surveyed travellers to learn more about their travel habits. The survey found that two thirds of travelers across the globe purchase travel insurance when setting out beyond their country’s borders. In America, rates were slightly lower, with just 60 per cent of respondents purchasing travel insurance. For most Americans who traveled insured, their primary concern was peace of mind.
The survey of over 3,700 travellers worldwide found that 47 per cent of people were planning to purchase a travel insurance policy within the next 12 months. Of the global respondents to the survey 65 per cent were planning to buy a single-trip policy rather than an annual plan. Economic conditions motivated 15 per cent of American travelers to purchase insurance when they may not have done so in the past.
For American travelers, the most important element to their comprehensive travel insurance policy was trip cancellation. Fifty-three per cent of respondents ranked it first. The second most important element of coverage was medical and health coverage, followed by travel delay/interruption (19 per cent and 10 per cent respectively).
When it came to filing a claim with their travel insurance company, only a fifth of American travelers had done so but 25 per cent of those who had found it to be “simple.”
"The fact that two-thirds of worldwide respondents have purchased trip insurance reinforces that travelers hold vacations sacred, and an investment that is worth protecting," said Michele Perry, vice president of global communications for TripAdvisor.
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