Demand for COVID-19 Coverage Drives Sales for Top Travel Insurance Providers

ST. PETERSBURG, Fla., Nov. 5, 2020 /PRNewswire/ -- 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

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.

View more information on the coverages offered by these providers and policies.

Methodology: Data is based on all travel insurance policies purchased through Squaremouth.com between March 12, 2020  – October 10, 20200.

KEY CURRENT RESOURCE:

Squaremouth.com created the Coronavirus Pandemic Current Event Center which is updated daily with available travel insurance coverage and answers to FAQs as the COVID-19 pandemic evolves.

ABOUT SQUAREMOUTH

SQUAREMOUTH compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth's comparison engine and third-party customer reviews, travelers can research and compare travel insurance policies side-by-side. More information can be found at www.squaremouth.com.

Available Topic Expert:
Kasara Barto
kbarto@squaremouth.com

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SOURCE Squaremouth