(PRNewswire) - The first COVID-19 case was diagnosed in the United States on January 20, 2020. Since then, there have been many changes to the way we live our lives, do business, and travel.
As the pandemic enters its third year, InsureMyTrip looks back at how travelers and the US travel insurance industry may have adapted over the past two years.
Travelers are more apt to buy travel insurance as the pandemic continues to impact travel worldwide, this includes younger travelers
Providers have adapted policies to cover COVID-19 as any other unforeseen illness
Travel insurance requirements issued by countries, tour companies, and cruise lines have become more prevalent
How Travelers Adapted to COVID-19 Pandemic
According to data from InsureMyTrip, the number of travel insurance policies sold spiked in January and February 2020. But then, the travel industry took a major hit as parts of the world went into full or partial lockdown for much of 2020.
Fast forward to 2021-2022, the number of travel insurance policies purchased begins to steadily increase, as more people get vaccinated, and countries reopen to tourists. Today, travel insurance demand continues to rise.
Prior to pandemic:
Cancel For Any Reason and quarantine coverage not widely known
Travel insurance was rarely required to visit a country
Most travel insurance policyholders were over 35 years old
Searches for "Pandemic travel insurance" and "Cancel For Any Reason" are most popular
Younger travelers (18-24) are now more apt to buy travel insurance
Advice for Purchasing Coverage During the Pandemic
Purchase early, before an issue/illness becomes known, to get the most coverage options available
Read the policy carefully and ask questions
Consider Cancel For Any Reason, if eligible
Know what coverage may be required by your travel provider or the country you are visiting
"Travelers can find coverage for unforeseen COVID-19 related issues as travel insurance companies adapt their current coverage. It is important to read the details of a policy and ask questions if something isn't clear," says Walch.
Jan. 12, 2022
Media Contact:Meghan Kayata
*An illness must be unforeseen prior to purchase
**Self-quarantine and government/border closures to stop the spread of Covid-19, are not considered covered quarantine.
It's simple. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise.