(WWLP) – According to a study by AAA, 31% of those surveyed are more likely to purchase travel insurance due to the coronavirus pandemic.
It is well established that the coronavirus pandemic has had a profound impact on most people. According to a study by the American Automotive Association (AAA), this impact has extended into the ways most surveyed Americans plan their trips; 55% of American adults are planning a vacation that includes at least one overnight stay before the end of 2022. Roughly one third of American travelers are more likely to purchase travel insurance specifically due to the pandemic.
“Travel insurance is relatively inexpensive for the large amount of peace of mind it affords, and that’s more valuable than ever in light of the pandemic,” said Mary Maguire, Director of Public and Government Affairs at AAA Northeast. “Americans have seen how important travel insurance is to protect their vacation investment and are prioritizing this purchase at the start, now more than ever.”
Also according to that study, 69% of those who purchased travel insurance said the ability to cancel a trip and get a refund was a major driver of the additional purchase. Many policies of travel insurance allow consumers to cancel their trip. AAA warns consumers who do plan to purchase travel insurance to ensure the purchase policy includes some variation of the phrase “for any reason” when it comes to cancelations. This is because most travel insurance options have historically not covered global pandemics.