Demand for COVID-19 Coverage Drives Sales for Top Travel Insurance Providers
ST. PETERSBURG, Fla. November 5, 2020 — US residents are eager to resume traveling, however concerns about the coronavirus are top of mind.
Data from travel insurance comparison site, Squaremouth, shows that since the pandemic began, one-third of travelers searching for travel insurance want protection for COVID-19.
Providers offering this coverage are in high demand, as Squaremouth reports a shift in top travel insurance providers to favor those offering COVID coverage.
Top 5 Travel Insurance Providers During COVID-19 – Ranked by Percent of Sales
|Provider Name||Top Selling Policy|
|Seven Corners, Inc.||RoundTrip Choice|
|Trawick International||SafeTravels Voyager|
|Berkshire Hathaway Travel Protection||ExactCare|
|Travelex Insurance Services||Travel Select|
These travel insurance providers offer policies that include trip cancellation, emergency medical and medical evacuation coverage in the event a traveler, or their family, contracts coronavirus before or during their trip.
The top three providers, Seven Corners, Inc., Trawick International, and Tin Leg, also offer the Cancel for Any Reason upgrade, which allows travelers to cancel their trip for any reason 2 days prior to departure. Travelers who cancel are eligible to receive 75% reimbursement of their trip cost instead of relying on vouchers or credits from the travel supplier.
- This extensive cancellation coverage is also top of mind for travelers following the pandemic, as 22% of all policies purchased from Squaremouth include Cancel for Any Reason coverage, a 524% increase from last year.
These five providers make up more than 70% of Squaremouth’s sales since COVID-19 was declared a pandemic on March 12, 2020.
Seven Corners, Inc.
RoundTrip Choice is Seven Corners’ best selling policy amidst COVID-19 as it includes cancellation coverage for contracting coronavirus along with the ability to add Cancel for Any Reason coverage.
- 53% of Seven Corner’s policies sold included Cancel for Any Reason coverage.
Trawick International’s SafeTravels Voyager plan includes $250,000 in Emergency Medical coverage along with $1,000,000 in Medical Evacuation coverage.
- 13% of all Trawick International customers upgraded their policy to include Cancel for Any Reason coverage.
Tin Leg’s Luxury policy offers $100,000 in primary emergency medical coverage allowing travelers to go directly through their travel insurance.
- Tin Leg policies offer customers the ability to increase medical evacuation coverage, an option 16% of customers have chosen to do amidst COVID-19.
Berkshire Hathaway Travel Protection
Berkshire Hathaway’s ExactCare policy offers $25,000 in primary emergency medical coverage, along with $500,000 in medical evacuation coverage.
- Berkshire Hathaway policies also offer the option to add on additional medical evacuation coverage before purchase, which 19% of their customers chose to do.
Travelex Insurance Services
Travelex Insurance Services Travel Select policy offers $50,000 in primary emergency medical coverage.
- 15% of Travelex customers chose to increase the amount of emergency medical and medical evacuation coverage.
Travelers can search for policies that include trip cancellation or emergency medical coverage for contracting COVID-19.
For regularly updated information about Covid-19 and travel insurance, please visit our Covid-19 travel insurance information hub.
Methodology: Data is based on all travel insurance policies purchased through Squaremouth.com between March 12, 2020 – October 10, 20200.
Notes to editors
Available Topic Expert: Megan Moncrief, President is available for comment and interview. firstname.lastname@example.org (727) 378-0938
About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth’s intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.