Richmond, VA, August 13, 2020 – A recent Allianz survey* of 4,300 of its U.S. travel insurance customers has found that 44%, or more than four in ten, anticipate traveling before the end of 2020. Leading the customers who won’t travel this year, 30% of the survey respondents don’t know when their next trip will be.
The survey also found a subtle correlation between customer age and when customers plan to travel next. Older customers were more likely to report that they don’t know when they will travel next, compared to younger customers. Specifically, the survey found that 31% of customers ages 55 and up said they don’t know when they will travel again vs. 26% of customers under the age of 55 who provided the same answer. Twenty-five percent of customers under the age of 55 said they will travel within the next 1 to 3 months, compared to 17% of customers ages 55 and up who plan to do the same.
When asked how they will travel next, 65% of Allianz customers indicated they will fly, while 28% will drive. For those planning to book an airline seat, 36% of all respondents planned to fly domestically while 28% were going to fly to an international destination. For those hoping to leave the country, European landmarks tied with sandy beaches in Mexico, the Caribbean and Hawaii as the top destinations.
“Our survey has found that our customers are eagerly awaiting the day that they can resume traveling to their favorite destinations,” said Daniel Durazo, Director of Marketing and Communications at Allianz Partners USA. “While our customers plan to enjoy domestic trips now and in the near future, international trips will be on many a wish list in 2021. In fact, the majority of our customers who say they don’t plan to travel this year have indicated that their next trip will be to an international destination.”
Due to the uncertainty surrounding COVID-19, Allianz is allowing its customers to use a previously purchased travel insurance policy** any time within 770 days of the purchase date, so that it can be used for a new or rescheduled trip. Customers moving their existing plan must change their plan coverage dates prior to traveling and prior to any loss for which they are seeking coverage. In addition, if the customer takes advantage of this option to insure a new or rescheduled trip that was paid for with a travel supplier voucher, any amount paid by a travel supplier voucher would be considered part of that customer’s insured trip payments.
Although travel insurance products generally do not cover pandemics, Allianz Travel has made several temporary accommodations to provide coverage for trip cancellations, trip interruptions and emergency medical care for those who become ill with COVID-19, and has temporarily extended refunds of travel insurance premiums to customers whose travel suppliers have canceled their trips due to COVID-19.***
Allianz offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies, other travel suppliers and directly to consumers. For more information please visit: http://www.allianztravelinsurance.com.
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*Methodology: This press release examines results from an Allianz Travel survey of a random sample of 4,300 Airline, OTA, B2C and Retail customers who purchased a policy between 6/1/19-2/29/20, with travel ending before 3/1/20. The survey ran from 5/20/2020-6/25/2020, and asked several questions about when and how respondents will travel next. For consistency purposes, customers were provided with the following definition of travel: a trip to a destination that is more than 100 miles from your home and lasts for at least 2 nights. In addition, Allianz Travel analyzed the destinations selected during travel insurance quotes provided to its online customers during the second quarter of 2020.
About Allianz Partners
Allianz Partners (AGA Service Company) is a leading consumer specialty insurance and assistance company with operation centers in 35 countries. are offered by Allianz Partners (AGA Service Company), In the United States, the company offers Allianz Travel-branded travel protection plans and serves over 45 million customers annually. In addition to travel insurance, the company offers tuition insurance, event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. The company also serves as an outsource provider for in-bound call center services and claims administration for property and casualty insurers and credit card companies.
**Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan’s Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A‐" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance, TravelSmart, and AgentSmart are marks of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance. SmartBenefits proactive payments and “no receipts” payments available only on certain plans. For plans that include proactive payments: when you opt in and provide flight information, Allianz Global Assistance will monitor flights and send flight status and benefit alerts, including alerts about flight delays that qualify for automated travel delay payments. Standard message/data rates apply to SMS alerts. Automated claims and payment system availability is not guaranteed and is subject to our sole discretion. All claims subject to policy terms, conditions, and exclusions.
***Restrictions apply. These accommodations are strictly applicable to COVID-19 and are only available for customers whose plan includes the applicable benefit. All other terms, conditions, and exclusions of the plan apply as normal. Please note, the described accommodations are an explicit and limited expression of donative intent only, which is for only the limited purposes expressly specified at the link below and for no other further purpose, express or implied. Further, it is expressly not a guarantee of coverage or admission of legal or equitable liability. Nothing contained or described at the link below, nor any payment made pursuant to the position described at the link below, is or should be construed to be a waiver of any term, condition, or exclusion of any plan, or any applicable rights, remedies, or defenses under any plan or at law or equity. We and our applicable underwriters and reinsurers reserve all rights, remedies, and defenses under the plan and under applicable law and at equity. For complete details, please visit: https://www.allianztravelinsurance.com/coverage-alerts/2019-novel-coronavirus.htm.