Travel Insurance Demand Hits Highest Level Since March 2020
Last updated on 03/28/2023
WARWICK, R.I., Mar. 16, 2021 -- Today, InsureMyTrip, the nation's first-and-largest unbiased travel insurance comparison site, said the number of policies sold for future trips hit their highest levels since March 2020. This comes as the Transportation Security Administration also announced over 1.3 million U.S. airport passengers were screened last Friday, the highest number of passengers screened since March 15, 2020.
"We still have a long way to go until travel gets back to pre-COVID-19 levels, but there are encouraging signs of a recovery underway," says Cheryl Golden, vice president of ecommerce for InsureMyTrip. "Travel insurance is now top-of-mind for travelers. And, as the travel industry begins to rebound from a pandemic-related slump, we are doing everything we can to ensure travelers have the right travel insurance."
Expanded Travel Insurance Coverage
More traditional travel insurance companies are now expanding or adapting coverage for travelers during the coronavirus pandemic. Here are some general examples, if eligible:
- Must visit doctor or hospital during a trip due to COVID-19 illness
- Get sick with COVID-19 and must cancel a trip
- Physician orders a quarantine before trip
- Lost a job during the coronavirus pandemic by no-fault of your own
In addition, some plans are now offering higher travel delay limits in order to help with additional accommodation expenses due to a covered quarantine.
InsureMyTrip also recommends travelers strongly consider a Cancel For Any Reason (CFAR) upgrade. This upgrade offers the most trip cancellation flexibility and is the only option available to cover fear of travel. Full terms of coverage will be listed in state-specific policy. If eligibility requirements are met, reimbursement is typically up to 50-70 percent of the pre-paid non-refundable trip cost.
The unbiased travel insurance comparison site also released a groundbreaking "COVID-19 recommendation tool" to guide travelers towards plans that may be best suited to cover COVID-19-related travel concerns.
"This simple recommendation tool can save travelers hours of searching online for travel insurance that may offer coverage for certain COVID-19 related issues," says Golden.
Note: coverages are governed by the specific plan certificate. Traditional travel insurance does not offer cancellation coverage for fear of travel, whether related to COVID-19 or not. Cancel For Any Reason is required.
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