Insurance

Nation's Largest Travel Insurance Provider: Faltering Economy Doesn't Stop Americans From Traveling

  2008 NOV 24 - (VerticalNews.com) -- Travel Guard (http://www.traveguard.com/), the nation's leading provider of travel insurance and assistance plans, reports that despite economic uncertainties, segments of American consumers are still planning and booking travel -- in some cases for trips as far in advance as five months. Travel Guard data suggests the "empty nester" and Baby Boomer segments of the population may be sacrificing other purchases, but are not willing to give up their "right to travel."

  In figures released, Travel Guard reports the average cost of trips covered through the company's plans in September and October of 2008 dipped only slightly compared with the same period in 2007 -- from $2,057 to $2,009. While many media reports conclude that Americans are staying closer to home, this is not the case for Travel Guard clients. The number of clients traveling outside of the United States has dipped only slightly, from 79.5 percent in 2007 to 78.7 percent in 2008.

  Americans also appear to be reacting to airline capacity cuts by booking travel and buying travel insurance earlier in advance of departure. Based on Travel Guard customer data, consumers are booking their travel and buying travel insurance plans an average of 151 days -- or more than five months prior to their scheduled departure date. "That's a good idea," says Travel Guard spokesperson Dan McGinnity.

  "If you're planning a leisure trip in 2008 or early 2009, we strongly recommend you book your flight well in advance, especially if you are going to a popular destination," said McGinnity. "With fewer flights and fewer seats available, it's the best way to assure you get where you want to go."

  Travel insurance is particularly important for travelers who are purchasing trips or making partial deposits well in advance of their departure date, McGinnity noted. "Travel insurance covers you from the moment you purchase your plan until you return home from your trip," he said. "If you're booking further in advance, you have a longer period of time to cover your travel investment. A comprehensive plan through Travel Guard can reimburse you for nonrefundable airline tickets and other expenses if you have to cancel your trip for an unexpected family illness, injury, severe weather or a host of other covered reasons."

  Travel Guard offers a number of comprehensive travel insurance plans that provide reimbursement for trip cancellation, as well as interruption, delays due to covered reasons, lost, stolen or delayed baggage, and emergency medical expenses, including medical evacuation. Most plans also include a full range of personal and travel assistance services that consumers can access before and during their trip. For example, customers can call before they travel and get information on visa/passport requirements, inoculations, luggage shipping services and more. They also have access to Travel Guard Assist's 24/7 LiveTravel emergency travel service in case they need to rebook cancelled flights and make new travel arrangement or hotel reservations.*

  For more information about Travel Guard's selection of travel insurance and assistance service plans, travelers can visit http://www.travelguard.com/ or call Travel Guard's World Service Center at 1-800-826-1300.

  Keywords: Travel Guard.

  This article was prepared by VerticalNews Insurance editors from staff and other reports. Copyright 2008, VerticalNews Insurance via VerticalNews.com.