New Analysis Finds Travelers More Likely To Purchase Travel Insurance

A new survey by Allianz Partners USA found that the majority of customers surveyed were likely to purchase travel insurance again and discovered what they were most concerned about when considering insurance policies.

The top three travel concerns that travelers were most worried about were flight cancellations, delays or missing connections (55 percent), the pandemic or pandemics (43 percent) and needing medical attention during a trip (32 percent).

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The analysis also found that the top three benefits customers would most want in a travel insurance plan include trip cancellation due to a sick or injured traveler (65 percent), trip cancellation due to the pandemic (57 percent) and medical emergency payment (42 percent) ). These demonstrates that individuals are overwhelmingly concerned more about health-related risks both before and during travel than anything else.

Of the 1,100+ individuals surveyed, the majority were first-time travel insurance purchasers (at 48 percent). Forty-five percent of those surveyed had purchased travel insurance at least twice. While the margins are close, this majority means that more people believe it’s necessary when planning a trip than they had previously.

“We adapted to the changing travel landscape to better accommodate customers as they navigate travel during and beyond the COVID-19 crisis,” said Daniel Durazo, director of marketing and communications at Allianz Partners USA. “Understanding our customers’ needs is crucial to providing innovative products that our valued travel advisor partners can offer to make their clients feel more confident in their travels.”

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