Warwick, RI, May 15, 2025 (GLOBE NEWSWIRE) — As Americans confront a backdrop of economic uncertainty alongside high airfare and lodging costs, booking a summer getaway has become a high-stakes decision. The experts at InsureMyTrip recommend considering travel insurance to help protect both travelers’ budgets and carefully laid plans.
“Consumers are telling us they’re eager to travel but rising costs and uncertainty are forcing them to think twice,” said Suzanne Morrow, CEO at InsureMyTrip. “Our latest data reveals a 10% increase in policy purchases for the first three months of 2025 compared to the last three months of 2024 – signaling that more travelers recognize insurance as an essential line of defense against unpredictable expenses.”
Why Travel Insurance Is More Important Than Ever
In today’s volatile job market and inflation-driven economy, unexpected work or financial issues can easily derail your dream trip. That’s where travel insurance can be a game-changer.
- Cancel for Any Reason (CFAR) coverage is one of the most flexible and popular add-ons for travelers. This optional upgrade allows you to cancel your trip even if it’s not typically covered – like fear of layoffs or second thoughts.
- Must be purchased soon after you put money down on a trip (usually within 14–21 days).
- Typically reimburses up to 50–75% of prepaid, non-refundable trip costs.
- Must cancel a trip at least 48 hours before departure to receive reimbursement.
- Cancel For Work Reasons coverage is available with select plans and helps protect against job-related trip cancellations:
- If you are terminated or laid off through no fault of your own, some plans may offer a refund – as long as you’ve been employed at the company for 1–3 years prior to the event.
- If your previously approved time off is revoked after buying the policy, you may also be covered under this benefit (proof from HR required).
(Note: This usually does not apply to self-employed individuals.)
More Reasons to Insure Your Trip
- Rising airfare, hotel, and excursion costs mean higher potential losses if your plans change at the last minute.
- Medical emergencies abroad can result in significant out-of-pocket costs without proper coverage.
- Lost luggage, trip delays, and weather-related interruptions are more common – and frustrating – than ever.
Media Contact:
Meghan Kayata
About InsureMyTrip
You like options. We do too. It’s simple. InsureMyTrip finds you the right travel insurance plan, every time. As the authority on travel insurance, InsureMyTrip is committed to empowering travelers to make informed decisions by leveraging technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.
SOURCE: InsureMyTrip
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