Dec 02, 2020

Vaccine Developments Will Stoke Travel Demand According to Allianz Survey

Allianz Travel Insurance Customers Say a Proven Vaccine Will Open Door to 2021 Travel

RICHMOND, VA, December 2, 2020 — Significant progress in the race to find a COVID-19 vaccine should prod American travelers to book their next trip, according to Allianz Partners’ latest survey* of its U.S. travel insurance customers. The survey’s findings come at a time when Americans are rapidly learning of promising developments around potential vaccines, bringing newfound hope for the travel industry and 2021 vacation plans.

The travel insurance and assistance provider** surveyed 3,500 of its customers in order to gauge travelers’ intent in booking trips more than 100 miles from their home (for at least two nights) and to track changing travel sentiment since a similar survey was conducted in the spring.  

The majority of customers (58%, up 6 points from the Spring survey), who were surveyed shortly before the news broke last month about a promising vaccine, responded that a proven vaccine would make them feel safe again to travel, with customers over the age of 65 placing more importance on the vaccine than customers under the age of 45. Health officials announcing it is safe to travel was second (48%, up three points), and the previously top safety measure, advanced sanitization efforts at hotels, airports, etc. (47%, down five points), came in at third but was the most important factor among customers under the age of 45.  

Almost a third of the customers surveyed (32%, up two points) are still not certain when they’ll next travel. Allianz also found 9% of customers over the age of 65 will be traveling this fall, compared to 18% of customers under the age of 45.

Additionally, the survey discovered that most Americans plan to fly (70%, up 5 points) for their next trip, while travelers opting to drive to their destination have taken a back seat, (19%, down 9 points). Whether the drop in road trip travel is tied to winter weather and driving conditions, or the potential COVID-19 vaccines, the result is a positive sign for the airline industry, which faced a difficult year of decreased demand and the task of rebuilding customer trust through advanced safety measures. 

“The promise of a highly-effective COVID-19 vaccine could be a substantial step toward recovery for the travel industry, and as our survey found, a key factor in customers feeling more confident booking trips for 2021,” said Daniel Durazo, Director of Marketing and Communications at Allianz Partners USA. “With pent-up travel demand at a seemingly all-time high, we anticipate Americans will be looking to book their ultimate itineraries in 2021 to their favorite destinations.”  

Until further notice, although Allianz travel insurance products generally do not cover known, foreseeable, or expected events, epidemics, government prohibitions, warnings, or travel advisories, or fear of travel, Allianz has made several temporary claims accommodations for trip cancellations, trip interruptions and emergency medical care for those who become ill with COVID-19, and is temporarily accommodating refunds of travel insurance premiums to customers whose travel suppliers have canceled their trips due to COVID-19, so long as no payable claim has been filed under the plan.***

Allianz Partners offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies and directly to consumers. For more information on Allianz and the policies offered for travelers, please visit: http://www.allianztravelinsurance.com.

# # #

*Methodology: This press release examines results from an Allianz Travel survey of a random sample of 3,500 OTA, B2C, Airline and Retail customers who purchased a policy between 11/1/19-9/30/20. The survey ran from 10/27/2020-11/9/2020 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.

 

About Allianz Partners
Allianz Partners (AGA Service Company) is a leading consumer specialty insurance and assistance company with operation centers in 35 countries. In the United States, the company offers Allianz Travel-branded travel protection plans and served over 45 million customers last year. 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.

Allianz - December_2020_TravelPulse_Survey_Question