FARGO, N.D. (Valley News Live) A growing number of Americans are traveling overseas.
AAA estimates more than 30 million American family travelers will visit an international destination this year. That estimate is 9 percent more than just two years ago.
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While international travel grows in popularity, so too has the demand for travel insurance. AAA national survey data shows nearly 2 in 5 Americans are likely to purchase travel insurance for future international trips. AAA sales data also reflects that trend.
So far this year, the purchase of domestic and international travel insurance is up 20 percent. That follows a 13-percent increase seen from 2016 – 2017.
“Unexpected events like family emergencies and natural disasters can lead to missed bookings and unplanned expenses,” said Gene LaDoucer, North Dakota spokesman for AAA – The Auto Club Group. “Travel insurance is added protection for your investment and provides peace-of-mind both before and during your trip.”
Travel Insurance Helps When:
• You landed, your bags didn’t. Airlines mishandled more than 22 million bags in 2017, according to SITA. Travel insurance can provide coverage to replace needed items if luggage is delayed, damaged or stolen.
• You get sick. Insurance may help cover medical expenses while traveling, internationally and in the United States. Many hospitals outside of the country require cash payments before providing treatment.
• Health insurance. Most health insurance policies don’t cover international travel. Travel insurance can help cover medical expenses and costly medical evacuation back to the United States in emergencies.
• Flight delays and cancellations. Airlines may not cover all the costs associated with a delayed or cancelled flight. Travel insurance can help reimburse expenses such as rebooking fees, meals and accommodations.
• Economic uncertainties. The loss of a job or other income may mean having to postpone a trip planned in advance. Travel insurance can help travelers recoup their costs when funds are tight.
Top Factors Influencing Travelers’ Decision to Purchase Travel Insurance:
• 70% – The cost of the trip
• 69% – Personal or family health concerns
• 61% – How far in advance the trip is booked
• 57% – Recommendations to purchase insurance by friends or family
What Travelers Consider the Key Benefits of Travel Insurance:
• 88% – Reimbursement if they need to cancel a trip
• 76% – Assistance services like lost passport, credit card or
• 76% – Emergency medical transportation assistance
• 76% – Help with expenses due to unexpected trip interruptions, such as having to return home early because a family member got sick
• 75% – Help with expenses due to delayed or lost luggage
• 72% – Help with medical expenses while traveling