Market Size of US Travel Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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US Travel Insurance Market Analysis
The United States travel insurance market is estimated to USD 3.8 billion during the current year and is poised to grow at a CAGR of greater than 3% during the forecast period.
The travel industry is recovering from the aftermath of COVID-19, with air passenger volumes on the rise. As per Expedia's 2022 Travel Trends Report, 59 percent of American respondents had planned domestic trips for the year, while 37 percent are planning both domestic and international trips. With significant importance on safeguarding and acute awareness of the ever-present risk of unexpected cancellations and possible shifting rules and regulations, travel insurance is in need. In fact, according to Yonder Travel Insurance, customers are purchasing travel insurance earlier in the booking process and a growing number of millennials are buying travel insurance.
