UStiA Survey Reports 17% Increase in Purchase on Travel Insurance Plans
Oct 06, 2015
2014 was a big year for travel
According to The Travel Protection Market Survey 2012-2014 produced by UStiA** (United States Travel Insurance Association), over 152 million Americans were covered by a variety of travel related protection products
in 2014. That includes emergency service products, annual products, per-trip protection, travel medical and various other programs offered from UStiA member companies.
Think about that. With the U.S. population topping out at 318 million in 2014
that means nearly 50% of Americans were covered at some point by a travel protection plan or related product.
Why is this important?
You're probably asking yourself, "So what? Who cares?"
Those are both great questions. This survey is very telling and is a strong indication that travelers are becoming savvier about planning trips.
the term is cautiously optimistic would be most appropriate. Every traveler (should) approach travel experiences with optimism but also must keep in mind the "what ifs" associated
Additionally, an increase in travel protection plans suggests a stronger economy. How? These plans typically cost between 4-8% of total trip cost. It, of course, is an assumption, but seems fairly easy to deduce that most
have more disposable income to spend on adding coverage to their trip.
3 shareable sound bites from the 2014 market survey
- Americans spent over $2.2 billion on all types of travel protection.**
- 24.5 million travel protection plans were sold by UStiA member companies.**
- Approximately 33.4 million Americans were covered (specifically) by a travel protection plan.**
Trip Protection Plans by Seven Corners
With more and more Americans discovering the need to include trip protection while planning vacations, it's up to UStiA member companies to be "johnny on the spot" when it's time to purchase.
If you're currently in the market for a plan, consider RoundTrip® Trip Protection. It might be the best travel insurance plan you've never heard of...
Important information from the United States Fire Insurance Company.
**Source: The Travel Protection Market Survey 2012-2014, conducted by the UStiA. (ustia.org)
Image Source: UStiA - The Travel Protection Market Survey 2012-2014