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Catch-all travel insurance booms as US flyers take risks

Published : Friday, 27 November, 2020 at 12:00 AM  Count : 88

Nov 25: US websites have seen a surge in travelers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks.
Data from insurance comparison website Squaremouth on Tuesday showed the number of insurance policies purchased for US domestic trips over the upcoming holiday was up 170per cent, compared to the same period of 2019.
Some 40per cent of all Thanksgiving travelers specifically searched for coronavirus cover, replacing top concerns from previous years, such as weather and financial defaults, and spurring a rise in the overall cost of cover.




"Cancel-for-any-reason" policies, which typically allow cancellations up until two days before departure and a 75per cent reimbursement, cost up to 40per cent more than a regular policy.
 "It's just gotten to a point I think people are tired of being stuck at home and they're looking to get away and go somewhere," said Jeremy Murchland, president of US travel insurer Seven Corners.
More than 3 million passengers passed through US airports over the weekend, discarding advice from the Centers for Disease Control and Prevention to stay at home as coronavirus infections reached daily records.
Overall traveler numbers are still down 60per cent from a year ago, but Squaremouth, one of the country's main insurance price aggregators, said its data suggested that the total number of travelers seeking cover was up 26per cent year-on-year.    -Reuters



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