Show:
Definitions
Stats
Legal Requirements
100

Cancelation

  •  coverage reimburses your prepaid expenses that are non-refundable
  •  policies only cover the costs under named, unforeseen circumstance (unless you have premium add ons)
100

cost

A policy typically costs between $80 and $160 for a $2,000 trip, with the industry average coming out to roughly 6% of the total vacation price

100

Is it required by states

noooooooooooooooooooooooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

200

Delay

  •  reimburse you for reasonable out of pocket expenses: meals, hotels, local transportation
  • acts as a short term bridge for waits before resuming your travel 
200

global insurance market value

The global travel insurance market is valued at over $35 billion and is projected to experience explosive growth as travel volumes rise

200

Who regulates the policies

states

300

Interruption

  • post departure benefit
  • reimburses you for an  unused prepaid trip if you have to unexpectedly leave early 
300

what percent of people use it

Approximately 14% of travelers rely on complimentary travel protection provided by premium credit cards or memberships rather than buying standalone policies

300

Who else may require it

other countries, businesses traveling

400

Lost Baggage

  • reimburses you in cash value, repair, or replacement of personal items that an airline permanently damages or loses
  • secondary coverage
    • must file a claim with carrier first
400

who uses it the most

Travelers aged 60 and older represent the largest market share for travel insurance (30%).

500

what is the main use

The largest portion of buyers purchase insurance to cover potential health issues or provider problems