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Catch-all travel insurance booms as U.S. flyers take Thanksgiving risks
Nov 25, 2020
(Reuters) - U.S. websites have seen a surge in travelers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks.
FILE PHOTO: Passengers depart Hartsfield–Jackson Atlanta International Airport ahead of the Thanksgiving holiday during the coronavirus disease (COVID-19) pandemic, in Atlanta, Georgia, U.S., November 23, 2020. REUTERS/Chris Aluka Berry
Data from insurance comparison website Squaremouth on Tuesday showed the number of insurance policies purchased for U.S. domestic trips over the upcoming holiday was up 170%, compared to the same period of 2019.
Some 40% of all Thanksgiving travelers specifically searched for coronavirus cover, replacing top concerns from previous years, such as weather and financial defaults, and spurring a rise in the overall cost of cover.
“Cancel-for-any-reason” policies, which typically allow cancellations up until two days before departure and a 75% reimbursement, cost up to 40% more than a regular policy.
“It’s just gotten to a point I think people are tired of being stuck at home and they’re looking to get away and go somewhere,” said Jeremy Murchland, president of U.S. travel insurer Seven Corners.
More than 3 million passengers passed through U.S. airports over the weekend, discarding advice from the Centers for Disease Control and Prevention to stay at home as coronavirus infections reached daily records.
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