Forty-two percent of GO Group survey respondents have purchased travel insurance at least once. Of those, 22 percent said they always purchase it, 16 percent said they usually do and 28 percent said they do sometimes.
Almost 300 people responded to the survey which was conducted by GO Group LLC, an international ground transportation provider.
Twenty-two percent of those who have purchased travel insurance said they have had to cancel a trip and use their insurance, while 71 percent they have not had to do so.
Of those who had to cancel a trip, 47 percent they were satisfied with the results provided by their policy, while 14 percent said they were not. Thirty-nine percent said they could not recall.
Comments included one respondent who said they were not satisfied when they has to use their insurance purchased from a cruise line, noting that not everything was covered. Another said travel insurance they purchased wasn’t worth it; the reimbursement for a flight delay was only $50 and hotels near airports often cost more than twice that amount.
Those who haven’t purchased travel insurance cite various reasons, the top one at 55 percent being that they don’t think it is necessary, followed by those who would rather take the risk. Fourteen percent said it was too expensive. Five percent said they were unaware travel insurance existed and two percent said it wasn’t offered but their trip planner. Others noted they already have travel insurance through their credit cards.
When those who have never purchased travel insurance were asked if they would consider doing so, 32 said “yes”; 29 percent said “maybe” and 40 percent replied “no.”
“According to our survey, almost half of travelers have already purchased or are considering purchasing travel insurance to protect against financial loss due to family emergencies and other unforeseen circumstances,” says John McCarthy, president, GO Group. “These numbers may rise as we are seeing an uncertain travel climate due to natural disasters and violence in tourist areas.”