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A trip
can take a big bite out
of your budget so many
Americans are hedging
their bets by insuring
those costly trips -
especially from
cancellation.
Is trip insurance a good
idea for your next
vacation? If you
choose to take out a
policy, what should you
know first?
Here
is some information from
TripAdvisor
Majority of Travelers
Rest Insured While on
Vacation
 TripAdvisor
Survey Reveals 60 Percent
of U.S. Respondents Have
Purchased Travel
Insurance
Travelers Most
Concerned about Trip
Cancellation
NEWTON, Mass., June 16
/PRNewswire/ --
TripAdvisor®, the world's
largest travel community,
today announced the
results of its travel
insurance survey of more
than 3,700 travelers
worldwide. Two-thirds of
worldwide respondents and
60 percent of U.S.
respondents have
purchased travel
insurance. About one half
of those surveyed (51
percent) said the number
one reason for purchasing
travel insurance is for
peace of mind.
Future Planning
Forty-seven percent of
travelers and 35 percent
of U.S. respondents plan
to buy travel insurance
in the next 12 months.
Sixty-five percent of
global respondents and 50
percent of U.S.
respondents are most
likely to purchase
single-trip travel
insurance. Fifteen
percent of U.S.
respondents said they are
more likely to buy travel
insurance due to the
current economic climate.
Full Coverage
The most important
coverage while traveling
is trip cancellation,
according to 53 percent
of U.S. respondents,
followed by medical or
health (19 percent).
Travel delay/interruption
(10 percent) was
considered the next most
important coverage.
Making Claims
Twenty percent of
insured U.S. respondents
have made a claim on a
travel insurance policy,
of which 25 percent found
the process "simple," 23
percent summed it up as
"time consuming," 19
percent called the
process "frustrating,"
and 18 percent claimed it
as "efficient." Eighteen
percent of U.S.
respondents have been
refused on a claim, and
among those who have, 36
percent don't know why.
Other Travel
Insurance Tidbits:
-- Seven percent of
U.S. respondents have
bought travel insurance,
only to discover they
were covered under
another policy.
-- Eight percent of
U.S. respondents have had
regrets about not buying
travel insurance in the
past.
-- Sixty-six percent
of U.S. respondents are
most likely to purchase
travel insurance when
they book their trip and
53 percent check the
quote on a price
comparison website.
"The fact that
two-thirds of worldwide
respondents have
purchased trip insurance
reinforces that travelers
hold vacations sacred,
and an investment that is
worth protecting," said
Michele Perry, vice
president of global
communications for
TripAdvisor.
Source:
TripAdvisor
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