Ethan M. Steinberg
speaker
126 appearances
2 recordings
1 series
first heard Jul 2023
last heard Aug 2023
Ethan M. Steinberg’s voice in public audio — every appearance, attributed to the second.
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Appearances
The pandemic exposed to people just how much is out of our control when we're traveling.
So maybe you're supposed to fly from Paris to London, but you're too sick to do that.
So you end up having to stay in Paris.
Travel insurance, again, depending on your plan, could help you out with those extra hotel costs.
Travel insurance is wildly more popular now than it was before the pandemic.
The pandemic exposed to people just how much is out of our control when we're traveling.
At least that's what travel agents are saying.
And data from a few different firms offers insight into this trend.
IntelliTravel, which is an agency that oversees about 70,000 travel advisors across the country, they said that the number of clients who purchased insurance with Allianz, which is their largest travel insurance partner, grew 48% year over year through June.
And the revenue bump associated with that rise was about 75%, meaning that people aren't only buying more travel insurance, but they're buying costlier and more comprehensive plans.
It is, yes.
And that's just year over year.
And it kind of grew the year before that as well during the pandemic.
There's a range.
It could be anywhere from less than $50 to thousands.
And primarily it depends on two things, the total trip cost and the age of the traveler.
Of course, the more your trip costs, the more you'll be paying, and that's on average.
And the same goes with age.
Data from travelinsurance.com, which is a website that allows people to comparison shop between different travel insurance plans, it shows that the range is about 4% to 10% of your total trip cost.
If you are working with a travel agent, often they will offer you a bunch of different plans that you could choose from.
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