Richmond, Virginia, May 17, 2022 – A new survey of Allianz Partners USA customers finds that travel insurance is high on their packing list as 90% say they are likely to purchase travel insurance for their next trip. The survey also found that most Allianz customers plan to travel in the near future with summer trips planned to U.S., European and Caribbean destinations. Cruise will rebound significantly as almost a fifth of Allianz customers are planning cruises while just one in ten will take road trips. COVID outbreaks and the impact of inflation are the top concerns of Allianz Travel Insurance customers. The survey results included the opinions of a random sample of more than 2,000 Allianz customers.
Travel insurance continues to be an important consideration for travelers, with 90% of survey* respondents reporting they were ‘extremely or somewhat likely’ to purchase trip protection when booking their next trip.
When asked about summer travel concerns, the top two cited by respondents were “another COVID spike causing travel issues/delays” (37%) and “testing positive for COVID before or during my trip” (24%). Other concerns include “more expensive food and entertainment” (7%) and “higher fuel prices” (6%).
Allianz customers remained bullish on travel, with 60% saying they will travel in the next one to four months, and 21% saying they will take a trip in the next month. Summer travelers are primarily electing for domestic destinations with 46% traveling within the continental US, and European getaways taking 27% of customers across the pond. Mexico, Caribbean and Hawaii account for 16% of customers’ planned summer trips and 5% are headed to Canada, a review of customers found.
To take these summer trips, air travel continues to be the favored mode of transportation with 61% of respondents flying to their destinations. Cruising made gains compared to last year – with 18% of customers answering it would be their primary mode of transportation, up from a similar survey in 2021that noted only 11% of respondents were opting to sail. Despite the launch of the typical road trip season, driving accounted for only 11% of 2022 summer travel plans.
Polling customers on what they are choosing to do on their summer trips, the survey revealed that 44% plan to go to the theater or attend a show as the favored activity on summer travel itineraries, followed by a concert or music festival (19%). Fifteen percent of respondents said they were going to a health-focused retreat/event or visiting a theme park, 13% will attend a sporting event, 12% a wedding and 9% a conference.
“Our customers tell us that they’re eager to travel this summer and explore the destinations that they’ve waited so long to visit,” said Daniel Durazo, director of external communications at Allianz Partners USA. “But they’re also taking precautions to protect their travel investment against unforeseen covered circumstances that may derail their trip. While COVID continues to be a top concern, travel insurance can provide coverage for covered epidemic illnesses, medical emergencies and individually-ordered mandatory quarantines, as well as other unexpected covered cancellations, trip interruptions, travel delays and baggage issues.”
In March 2021, Allianz Partners announced enhancements** to many of its travel insurance products in most states through an Epidemic Coverage Endorsement. Products that include this endorsement may provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding due to a suspected illness. These products may also cover emergency medical care and transportation or provide reimbursement for change fees and loyalty points deposit fees if the customer becomes ill with an epidemic disease. Availability of the Epidemic Coverage Endorsement, and specific covered reasons under that endorsement, varies by product and by state. See your plan for details.
Allianz Partners offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies, hotel companies, cruise lines and directly to consumers. For more information on Allianz and available travel policies, please visit https://www.allianztravelinsurance.com/.
*Methodology: This press release examines results from an Allianz Partners survey of a random sample of 2,621 customers who purchased a policy through a travel advisor or other retail distribution partner between late March and mid-April 2022. The survey ran from April 25, 2022 to May 5, 2022, and asked questions about purchasing behavior and summer travel plans. A trip was defined as at least two nights away at a destination 100 miles or more from home.
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