Majority of Travelers Have Purchased Travel Insurance |
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Written by U. S. Insurance News
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Monday, 23 June 2008 |
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Travelers want peace of mind when they take trips. And many agree on how they can have it: by purchasing travel insurance.
Two out of three worldwide travelers and 60 percent of U.S. travelers
have purchased travel insurance, according to a new survey of 3,700
travelers from TripAdvisor®. More than half of those surveyed (51 percent) said the top reason for purchasing this insurance is for peace of mind.
“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,” observed Michele Perry, vice president of global communications for TripAdvisor.
A significant portion of travelers plan to buy travel insurance in the next year, according to the survey: 47 percent of worldwide travelers and 35 percent of U.S. travelers. Sixty-five percent of global respondents and 50 percent of U.S. respondents are most likely to purchase single-trip travel insurance.
The economy weighed on the minds of some U.S. travelers when deciding whether to purchase the insurance. Fifteen percent of them said they are more likely to buy travel insurance due to the current economic state.
The survey also asked U.S. travelers which portion of the coverage is most important. The top three were:
- trip cancellation, 53 percent
- medical or health, 19 percent
- travel delay or interruption, 10 percent
Among U.S. participants in the survey, 20 percent have made a claim through their travel insurance. Of those, 25 percent found the process “simple,” 23 percent described it as “time consuming,” 19 percent viewed the process as “frustrating,” and 18 percent thought it “efficient.”
Eighteen percent of U.S. respondents have been refused on a claim, and among those who have, more than one-third—36 percent—don’t know why.
Finally, the survey found, it pays for travelers to check their other insurance policies before buying travel insurance. Seven percent of U.S. respondents have bought travel insurance only to discover later that they were covered under another policy.
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