InsureMyTrip anticipates high demand for academic travel insurance
Academic travel demand is steadily increasing in the US as K-12 schools and higher education institutions are starting to engage again following a wave of cancellations caused by the pandemic
Travel insurance comparison site InsureMyTrip reports a nearly 400-per-cent increase in academic travel insurance sales over 2021 in the US.
"More and more schools are reengaging their study abroad and domestic travel programmes. Students are quite eager to get back out in the world again – 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 academic travellers remained closer to home throughout the pandemic, international travel now comprises roughly 60 per cent of trips. Greece, Ecuador, Ireland, Italy, Iceland, and Czech Republic are top international destinations.
Cancel for Any Reason coverage most popular
Seventy-seven per cent of plan holders opt 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 the financial loss of a cancelled trips due to pandemic-related concerns is the top motivating factor for buying travel insurance.
The Academic Explorer travel protection programme provides trip cancellation and interruption with additional travel insurance benefits including baggage loss, baggage delay, and travel delay. Travel insurance in the programme is underwritten by United States Fire Insurance Company.
The programme, designed to help safeguard the financial investment that is inherent in international and domestic trips, offers flexibility for travel during uncertain times. Coverage is available for participating students, faculty, and chaperones. Academic Explorer plans are used to cover a variety of educational travel, including study abroad and class trips.