ST. PETERSBURG, Fla. — In what can be regarded as a sign of the times, a travel insurance comparison site has reported that the number of travel insurance policies purchased with Terrorism coverage has reached an all-time high, nearly quadrupling in the past three years.
According to sales data from Squaremouth, more than 1 in 10 travellers search for Terrorism coverage on its website, with numbers increasing each year since 2012. In the past three years, the number of customers who specifically searched for and purchased a policy with Terrorism coverage has increased by 280%; in the past year alone, that number increased by 165%.
The site also compiled a list of the three-year growth percentage of American travellers buying Terrorism coverage for top destinations. The most popular destination among travellers is the United States, with a growth percentage of 268%. Mexico (364%), Italy (242%), Canada (313%) and United Kingdom (344%) rounded out the top five destinations.
Over the past three years, the number of U.S. travellers searching for Terrorism coverage when buying insurance for trips to top European destinations increased by 332%. And with a 506% increase, American travellers heading to Germany were the most concerned.
The Terrorism insurance benefit provides cancellation coverage if a traveller is unable to take their trip due to a terrorist attack at their destination. In order for a traveller to be covered to cancel a trip due to terrorism, the attack must meet the following requirements:
- It must be deemed an act of terrorism by the U.S. Department of State
- It must be within 7-30 days of the traveler’s departure date, depending on the policy
- It must occur in or near a city listed on the traveller’s itinerary
- The traveller must have purchased their policy prior to the attack