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MarketWatch reported in July 2024 that Americans’ top three international travel destinations in 2022 were Mexico, Canada, and the United Kingdom. Today, those destinations along with France, the Dominican Republic, and Italy remain popular. Data from Mastercard says nearly 16 million Americans visited another country during the first quarter of 2024.
 
Florida, California, Nevada, and New York are the top destinations for travelers within the United States. Seasonally, Seattle, Las Vegas, Orlando, Honolulu, and New York City are summer favorites.
 
Cruise passengers favor travel to the Caribbean, Alaska, Hawaii, the East Coast of the U.S. and Canada, as well as California and West Coast cities. North America is the largest source market for the cruise industry. Among those who have taken a cruise, more than four out of five (82%) say they would embark on another.
 
Business Insider says slightly more than one-third (38%) of travelers purchase travel insurance. Factors influencing the decision to purchase include the traveler’s education, income, age, trip type, trip cost, and whether there are significant pre-paid non-refundable expenses associated with the planned travel. Overseas travelers are three times more likely to buy insurance. A basic policy costs about three to five percent of the trip’s total value – averaging around $221 – according to MarketWatch.
 
Of course, it’s easy to understand why travel insurance might appeal to some travelers. It offers peace of mind and typically covers emergency medical care, baggage loss or delay, emergency medical evaluation, trip interruption or cancellation, auto rental, and sometimes more. A consideration in evaluating travel insurance coverage is whether anything is specifically excluded – for example extreme sports or medical tourism.

Finding the Right Coverage

The Centers for Disease Control and Prevention suggests that consumers consider travel insurance to protect themselves in case of delays, accidents, or illness during a trip. But it’s important to differentiate between the types of coverage available. Consumers can choose between 1) trip cancellation or travel disruption insurance, 2) travel health insurance, and 3) medical evacuation insurance. Each is designed for specific situations.
 
Trip cancellation insurance is just that; it covers the financial investment of flights, cruises, or train tickets in case of illness. It may – or may not – provide for medical care while overseas. It may also allow for last-minute changes in case of a disease breakout.
 
Travel health insurance plans protect your clients if they are traveling outside the U.S. and need to pay out of pocket for medical care. It may be a particularly wise choice for those with an existing health condition, anyone traveling for six months or more, or those seeking adventure like scuba diving and hang gliding. Suggest to your clients that they check existing health insurance plans for any travel exclusions or limitations. If current coverage is inadequate, a short-term supplement travel plan may fill the void.
 
Another option is medical evacuation insurance. The CDC suggests this in situations where care is not likely to be up to U.S. standards. It will pay for emergency transportation from a remote spot to a high-quality hospital – which otherwise might cost more than $100,000.

Travel Insurance from a Leader

International Medical Group (IMG), the preeminent provider of travel and health safety solutions, has been offering global insurance benefits and assistance services since 1990. The IMG portfolio includes a wide range of programs, including internal private medical insurance, travel medical insurance, and travel insurance – plus enterprise services including insurance administrative services and 24/7 emergency, security, and travel assistance.
 
IMG’s dedicated team of international, multilingual specialists and highly training customer service professionals is available whenever you and your clients need them.

 Word & Brown has been partnering with IMG to offer travel insurance for decades. We can help you get started if you want to offer IMG products and services to your clients. Contracting is easy. After which, you can offer travel-related coverage for individuals, families, and groups. Deductibles range from zero dollars to $2,500. Plus, you can add options for Life, Dental, and Hospital Indemnity, single or multiple trips, and more. Learn more, start new producer contracting, or begin your registration today.
 
Learn more, start a new registration request, or begin your registration request online.