Nearly 4 in 10 Americans are likely to purchase insurance for future international trips

BOISE – (July 31, 2018) – Growing consumer confidence means more Americans are crossing international travel destinations off of their bucket lists. But with many once-in-a-lifetime trips costing several thousands of dollars, nearly 4 in 10 Americans now say they are likely to purchase travel insurance the next time they go abroad, according to a new survey by AAA.

Travel Insurance 2018 stat

“It’s a continuation of the travel pattern we’ve seen surrounding recent holidays,” says AAA Idaho spokesman Matthew Conde. “With current spending habits driven by low unemployment and a growing amount of disposable income, people are willing to pay for a bigger, grander travel experience.  As the price tag goes up, so does the need to consider protecting that investment.”

More than 30 million family travelers are expected to take an international journey this year, an increase of nine percent over the last two years. In 2017, AAA members nationwide insured trips that were approximately 18 percent more expensive than the previous year, according to AAA travel insurance partner Allianz.

Travel insurance can help adventurers prepare for the unknown, such as an unexpected health problem, missing luggage, a need for supplemental health insurance, and flight delays and cancellations. Some travelers may not realize that most health insurance policies don’t cover international travel, and many hospitals outside of the U.S. require cash payments before they begin treatment.  Medical expenses, including emergency evacuation, can be very costly.

After the cost of their trip (70 percent), respondents said that the primary motivators to purchase travel insurance include health concerns (69 percent), how far in advance the trip is booked (61 percent), and recommendations from family and friends (57 percent).

“AAA encourages travelers to consider the relatively low upfront costs of travel insurance,” Conde said. “Find a reasonable policy that makes sense for your situation.”