Confirm your Vacation with Insurance
Though the idea may be ridiculous to you but a growing number of American tourists are seeking travel insurance for fear that they lose their jobs just before a planned vacation. Chief executive of Squaremouth.com (a website) Chris Harvey said his company sold around 6,000 policies in February 2009.
The site compares travel insurance policies. CNN reported Friday the amount almost double the number sold in February 2008. Harvey said “February is shaping up to be the best month in our history, which is kind of strange,” he said. “What we think it is that although fewer people are traveling, much, much more of those are buying insurance.” He added the trend is likely the effect of vacationer becoming increasingly worried about layoffs owing to the economy.
On the other hand, director of operations for travel insurance provider CSA Travel Protection Bob Chambers travel insurance policies focused on layoffs have been gradually gaining in popularity since previous year. He said “Typically a vacation is your third biggest investment after your house and your car,” he added “You protect those investments. Why wouldn’t you protect this one?” The insurance companies hope more polices will be taken following months.