As Inbound Tourism Grows, Visitors Insurance Takes Off

Travelers visiting the US are increasingly purchasing visitors insurance policies before making their journey. This insurance – offered by G1G, Insubuy and other companies – is primarily intended to protect foreign travelers against unexpected medical expenses while in the US. However, it isn’t limited to medical. Some travelers buy visitors insurance to protect against airline cancellations and delays. Those seeking visitor policies can choose between two plan types: comprehensive and the cheaper (but riskier) scheduled benefit insurance. Either way, buyers of such insurance policies are advised to read the fine print before buying.

Key Takeaways:

  • There’s visitors’ insurance because it is estimated that approximately 77 million international travelers visit the United States every year and with this number, something is sure to go wrong.
  • Visitors insurance is slowly growing according to data and companies like GIG and Insubuy offer them with special policies that are tailored for the international visitor.
  • Travel insurance for visitors is centered around travel medical plans which might include insurance plans that offer an array of medical benefits.

“If you’ve never heard of visitors insurance, it’s probably because it’s a relatively small subset of the $12 billion global travel insurance industry.”

Read more: https://www.forbes.com/sites/christopherelliott/2019/02/10/as-inbound-tourism-grows-visitors-insurance-takes-off/#cfe85235c4d5

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