MINNEAPOLIS, Aug. 10, 2021 /PRNewswire/ -- Travelers who were traumatized from their cancelled trip experiences in 2020 are now considering travel insurance more than ever. The experts at Yonder Travel Insurance break down some major travel insurance trends as our world enters a post-COVID age of travel.
Consumers Buying Travel Insurance Earlier in The Booking Process
91% of quotes run on Yonder are being run within 30 days from the traveler's trip deposit date. This is up 9% from 2019. This increase may be due to a specific time-sensitive benefit called Cancel for Any Reason. Cancel for Any Reason has been the most popular and asked about travel insurance benefits in 2020, as most cancellations related to the pandemic were not covered events. Cancel for Any Reason protects 75% of your insured trip cost and would allow you to cancel for any reason at all if the benefit is purchased within 14-21 days of your initial deposit, you insure 100% of your nonrefundable trip expenses and your trip is cancelled at least 2 days prior to your departure date.
More Millennials Are Considering Travel Insurance
Older travelers have always been more risk-averse than the younger population but the number of millennials purchasing travel insurance is on the rise. Yonder saw an increase in millennial quotes on Yonder between 2019 and 2021.
"Quite a bit of the market is still dominated by baby boomers," says Beckah Morris, Operations & Marketing Manager at Yonder. "Yet, we're seeing more and more millennials shopping around and asking questions about the importance of travel insurance."
Required COVID Coverage
Popular vacation countries that have remained open for US tourists such as Costa Rica, Turks & Caicos, and French Polynesia require proof of travel insurance that documents COVID-related medical expenses will be covered if the traveler contracts COVID in-country.
"All our travel insurance providers are still treating COVID as a covered medical event," Morris states. "Some policies also include travel delay or trip interruption benefits for accommodations and meals in the event you have to quarantine at your destination."
The experts at Yonder Travel Insurance have poured over hundreds of policies to provide the best travel insurance recommendation for how YOU travel. Yonder donates meals to vulnerable children in need with each policy sold so you can travel well, and do well, when you go Yonder.
SOURCE Yonder Travel Insurance
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