InsureMyTrip anticipates strong demand for college travel insurance
Travel insurance comparison site InsureMyTrip reports a nearly 400% increase in college travel insurance sales over 2021 in the United States.
“More and more schools are re-engaging their study abroad and domestic travel programs. Students are very eager to return to the world – but as concerns loom over the ongoing pandemic and growing instability in Europe, travel protection is a top priority,” said InsureMyTrip Senior Vice President Suzanne Morrow.
While college travelers have stayed closer to home throughout the pandemic, international travel now accounts for around 60% of travel. Greece, Ecuador, Ireland, Italy, Iceland and the Czech Republic are the main international destinations.
Most Popular Termination for Any Reason Coverage
Seventy-seven percent of plan owners choose to add Cancel For Any Reason (CFAR) coverage. Interruption for any reason (IFAR) coverage is also in high demand, as participants seek maximum protection.
Helping to prevent financial loss from a canceled trip due to pandemic concerns is the primary motivator for purchasing travel insurance.
The Academic Explorer Travel Protection Program provides trip cancellation and interruption with additional travel insurance benefits including baggage loss, baggage delay, and trip delay. Program travel insurance is underwritten by United States Fire Insurance Company.
The program, designed to help preserve the financial investment inherent in international and domestic travel, provides flexibility for travel during uncertain times. Coverage is available for participating students, teachers and chaperones. Academic Explorer plans are used to cover a variety of educational travel, including study abroad and school trips.