North America Travel Insurance Market Outlook, 2030
Description
The North America travel insurance market is witnessing strong growth as travelers increasingly seek protection against medical emergencies, trip cancellations, lost luggage, and unforeseen disruptions, driven by rising international travel, higher health costs abroad, and heightened awareness after the COVID-19 pandemic. Demand is expanding for flexible plans such as “cancel for any reason” coverage, short-term trip policies, and customizable add-ons like cruise, adventure sports, and business travel insurance, reflecting consumers’ need for choice and affordability. American International Group, Inc. offers a range of travel insurance solutions designed to address the specific needs of travelers worldwide, including policies focused on comprehensive medical coverage, trip cancellation, and personal liability. Known for its robust financial backing, the company is equipped to support travelers in complex or high-risk situations, making it an appealing choice for international travelers and expatriates. However, regulatory frameworks remain complex, as the U.S. regulates travel insurance largely at the state level with varying requirements for disclosures, licensing, and consumer protection, while Canada imposes provincial rules on pre-existing conditions and policy wording, making cross-border product standardization a challenge. Moreover, travel insurance providers must comply with strict disclosure standards, fair marketing practices, and evolving guidelines around solvency and consumer rights, all of which shape product design and rollout. In February 2025, Trawick International, a leader in global insurance, expanded into Canada with the launch of three new travel insurance plans designed exclusively for Canadian residents, including TrueNorth Trip Protection Plus, TrueNorth Travel Medical, and TrueNorth Trip Protection Lite. This place has a 10-day free look period.
According to the research report ""North America Travel Insurance Market Outlook, 2030,"" published by Bonafide Research, the North America Travel Insurance market was valued at more than USD 6.76 Billion in 2024. The surge in outbound tourism, with millions of people traveling across borders for leisure, business, education, and medical purposes, which amplifies the need for comprehensive policies covering medical expenses, evacuation, cancellations, and theft; according to recent travel trends, international tourist arrivals are steadily recovering post-pandemic, reinforcing the demand base. Where a single hospital visit in regions like North America can cost thousands of dollars, making travel insurance a necessity rather than an optional add-on, particularly for elderly and business travelers. Digital-first insurers and InsurTech companies are leveraging AI for faster claims processing, blockchain for secure data management, and parametric models for instant payouts triggered by predefined events like flight delays, creating opportunities for differentiation and efficiency gains. Embedded insurance, offered seamlessly through airlines, booking portals, and travel apps, is an also pushing adoption rate higher, since customers can purchase cover with a single click during trip planning. Supporting events, trade shows, and conferences such as the International Travel & Health Insurance Conferences (ITIC), World Travel Market (WTM), and industry seminars on insurance technology provide platforms for insurers, brokers, and tech providers to network, showcase innovations, and forge partnerships that strengthen global reach. Interesting facts include the growing popularity of “cancel for any reason” (CFAR) policies, which surged after COVID-19, as travelers demand more flexibility in uncertain environments, and the fact that digital distribution channels are now outpacing traditional agents in several regions, especially among younger travelers who prefer app-based policy management.
Market Drivers
• High Frequency of International and Domestic Travel: North America, particularly the United States and Canada, has one of the highest rates of international and domestic travel in the world. A large proportion of the population engages in overseas vacations, business trips, student travel, and medical tourism. This constant movement creates strong demand for comprehensive travel insurance coverage to safeguard against unexpected medical emergencies, flight cancellations, and loss of valuables. Furthermore, many destinations require proof of travel insurance before granting entry, which boosts adoption among North American travelers who frequently visit Europe, Asia, and other regulated regions.
• Strong Healthcare Costs and Risk of Medical Emergencies Abroad: The extremely high cost of healthcare in North America compared to many other regions is a major driver of travel insurance adoption. Travelers understand that even a minor medical emergency abroad can lead to substantial financial burdens if not covered by insurance. Policies that include overseas medical coverage, emergency evacuation, and hospitalization benefits are therefore highly valued. Additionally, the aging baby boomer population in the U.S. and Canada, which represents a large segment of frequent travelers, seeks travel insurance to cover pre-existing medical conditions, creating steady growth in demand.
Market Challenges
• Misconceptions and Limited Awareness Among Certain Travelers: Despite strong adoption in urban areas, a challenge persists in reaching occasional or budget-conscious travelers who underestimate the value of travel insurance. Many believe that their existing health or credit card insurance is sufficient to cover overseas medical costs, which often is not the case. This misconception leads to lower penetration in some segments. Moreover, policy language complexity and lack of transparency in coverage exclusions discourage first-time buyers, limiting broader market expansion in North America.
• Rising Premiums and Inflationary Pressures: One of the biggest challenges for insurers in North America is balancing affordability with comprehensive coverage. Inflation in medical costs, higher airline disruptions, and an increase in claims related to global uncertainties such as pandemics, natural disasters, and geopolitical instability have driven premiums upward. These higher costs discourage younger travelers and budget-conscious consumers, who often view travel insurance as optional rather than essential. For insurers, managing profitability while keeping premiums competitive remains a difficult balancing act.
Market Trends
• Integration of Travel Insurance with Digital Platforms: A strong trend in North America is the integration of travel insurance offerings with online booking platforms, airlines, and fintech apps. Consumers can now purchase policies instantly while booking flights or hotels online, making coverage more accessible. Mobile apps also enable easy claim submission, real-time assistance, and customized coverage options. This seamless digital integration appeals to tech-savvy travelers and is driving adoption, particularly among millennials and Gen Z who prefer convenience and transparency.
• Growing Popularity of Customized and Adventure-Specific Policies: North American insurers are increasingly designing niche travel insurance plans tailored to unique traveler categories. With a rise in adventure tourism such as skiing, hiking, and diving, specialized plans covering high-risk activities are gaining traction. Similarly, long-term coverage for students, remote workers, and elderly travelers is expanding. The trend reflects a shift away from one-size-fits-all products toward highly personalized policies that align with the lifestyle and needs of modern travelers, giving insurers a competitive advantage in a mature market.
The Long-stay Travel Insurance type is moderately growing in North America due to the rising number of remote workers, retirees, and long-term travelers seeking extended coverage for health, trip interruptions.
The rise of remote work and the growing popularity of the digital nomad lifestyle have created a new demographic of travelers who spend months outside their home countries while continuing their professional or entrepreneurial activities. Unlike short-term vacationers, these long-stay travelers require insurance policies that provide comprehensive medical coverage, protection against trip interruptions, and safeguards for personal belongings for extended periods, often ranging from several months to a year. Additionally, retirees and senior citizens increasingly seek long-stay insurance to cover overseas wintering or multi-month leisure travel, driven by the desire to explore foreign destinations without sacrificing security or healthcare support. This trend is further reinforced by North Americans’ increasing awareness of the risks associated with international travel, including unexpected medical emergencies, cancellations due to unforeseen events, and travel advisories linked to political, health, or environmental factors. Insurance providers in the region have responded by offering flexible, customizable policies that cater specifically to long-duration stays, featuring options such as coverage for pre-existing medical conditions, extended medical evacuation, telemedicine support, and continuity of coverage in multiple countries. While the growth is moderate compared to short-term or single-trip policies, it reflects a steady and strategic expansion of the market as travelers seek specialized solutions that go beyond standard travel insurance packages. Moreover, the global pandemic has heightened the emphasis on health and safety, encouraging travelers to secure extended coverage before embarking on prolonged stays abroad. The market for long-stay travel insurance in North America is therefore influenced by a mix of demographic shifts, lifestyle changes, technological advancements, and risk-conscious behavior.
Medical Insurance is leading in the North American travel insurance industry because travelers prioritize access to quality healthcare and financial protection against high medical costs during trips abroad.
The United States and Canada have some of the highest healthcare costs globally, and even routine medical emergencies while traveling can become financially burdensome for travelers. This risk awareness drives a strong demand for travel medical insurance, as individuals seek coverage that protects against unexpected accidents, illnesses, or hospitalizations overseas. Additionally, the complexity of healthcare systems abroad and variations in medical standards make it essential for North American travelers to secure insurance that guarantees access to reliable medical facilities, emergency medical evacuation, and continuity of care in unfamiliar locations. The rise in international tourism, whether for leisure, business, education, or extended stays, has further reinforced the necessity of medical travel insurance, as travelers are increasingly exposed to diverse health risks, including infectious diseases, accidents, and chronic condition flare-ups. In addition, the COVID-19 pandemic has significantly intensified travelers’ focus on medical coverage, as uncertainties around treatment, hospitalization, quarantine requirements, and repatriation highlighted the critical role of insurance in mitigating health-related financial risks. North American insurance providers have responded by offering comprehensive medical travel insurance plans that cover hospitalization, physician visits, emergency medical evacuation, prescription medications, and sometimes additional services like telemedicine consultations or coverage for pre-existing conditions, ensuring that travelers can receive timely and quality care anywhere in the world. The popularity of this insurance type is also supported by regulatory and institutional factors, such as visa requirements for certain countries that mandate travelers to have adequate medical insurance before entry, particularly for students and long-stay visitors.
Online platforms are leading in the North American travel insurance industry because they provide convenient, quick, and customizable insurance solutions that match the digital-first preferences of modern travelers.
The proliferation of internet access, mobile devices, and e-commerce has transformed the way travelers plan and book trips, making online platforms the natural choice for comparing, selecting, and purchasing travel insurance policies. These platforms offer a streamlined experience, allowing users to receive instant quotes, customize coverage options, and complete transactions without the need for in-person interactions or extensive paperwork. The ability to access multiple insurers and policy options through a single interface not only saves time but also enables travelers to make informed decisions based on their unique requirements, such as trip duration, destination, age group, or type of travel. Furthermore, online platforms provide easy access to reviews, ratings, and user experiences, which helps build trust and transparency in decision-making a factor that is particularly important in North America, where consumers are highly informed and value clarity in product offerings. Technological advancements such as AI-driven recommendation engines, automated claim processing, and 24/7 virtual support further enhance the attractiveness of online platforms, offering seamless service even in emergencies while abroad. The COVID-19 pandemic accelerated this trend as travelers sought contactless and digital solutions for purchasing insurance, managing policies, and handling claims, reinforcing the convenience and safety advantages of online channels over traditional offline methods. In addition, partnerships between online travel agencies, airlines, and booking platforms with insurance providers have facilitated the bundling of travel insurance during ticket or package purchases, increasing penetration and driving growth through online channels.
The Education Travelers end-user type is growing in North America because an increasing number of students, interns, and academic professionals are traveling abroad for education, research, and exchange programs, driving demand for travel insurance that covers health, travel disruptions, and safety.
North American universities and colleges attract thousands of international students annually, while a significant portion of domestic students also pursue study-abroad programs, internships, and research opportunities across the globe. These travelers often face unique risks, such as medical emergencies, trip interruptions, lost luggage, and liability issues, which necessitate comprehensive travel insurance coverage. The increasing emphasis on global exposure and international experience in education has made study abroad an integral part of academic curricula, further boosting the number of long-term and short-term student travelers. Insurance providers are responding to this trend by offering policies specifically tailored to the needs of education travelers, including coverage for tuition reimbursement in case of unforeseen travel cancellations, health insurance that meets visa requirements, and protection for personal belongings. The COVID-19 pandemic highlighted the critical need for insurance coverage among education travelers, as program cancellations, travel restrictions, and medical uncertainties became more prevalent, prompting universities and students to prioritize policies that safeguard their academic investments and personal well-being. Additionally, governments and educational institutions increasingly require students and interns to secure travel insurance as part of visa and enrollment processes, creating a regulatory push that drives adoption. Digital channels have also played a significant role in facilitating growth, as students and parents can easily research, compare, and purchase travel insurance policies online, benefiting from instant quotes, flexible coverage options, and simplified claims processes.
The 1–17 years old age group is moderately growing in North American travel insurance because parents increasingly seek protection for their children’s health, safety, and travel-related risks during family vacations, study programs, and international trips.
Families increasingly consider travel insurance essential when planning international vacations or sending children on study-abroad programs, cultural exchanges, or summer camps, recognizing that medical emergencies, accidents, or travel disruptions can occur unexpectedly. The financial burden of medical treatment abroad, coupled with the need for specialized pediatric care, makes insurance coverage a critical safety net for this age group. Travel insurers in North America have responded to this demand by designing policies specifically tailored for minors, often bundled with family coverage, which provide comprehensive medical protection, emergency evacuation, accidental death and disability coverage, and support services such as 24/7 medical assistance and teleconsultations. Moreover, the COVID-19 pandemic reinforced the importance of securing coverage for children, as travel disruptions, quarantine requirements, and potential exposure to infectious diseases emphasized the vulnerability of minors and the necessity of insurance protection. While parents prioritize health coverage, travel insurance also addresses non-medical risks, including trip cancellations, lost luggage, and delays, ensuring the smooth execution of family travel plans. The moderate growth in this age group reflects the fact that, while demand is rising steadily, it is largely tied to family travel patterns and specific educational programs rather than mass adoption, as minors do not travel independently as frequently as adults. Online platforms and digital distribution channels have further supported this growth by making it easier for parents to compare and purchase child-inclusive policies quickly, customize coverage, and manage claims efficiently.
The USA leads the North American travel insurance industry due to its high outbound travel volume, strong insurance infrastructure, and a consumer culture that prioritizes risk management and financial protection.
The United States dominates the North American travel insurance market largely because of its massive and diverse outbound travel population, which consistently drives demand for travel-related financial protection. Americans are among the most frequent international travelers in the world, visiting regions across Europe, Asia, Latin America, and the Caribbean, as well as domestic travel to remote or high-risk areas. This high travel frequency creates a consistent and expanding market for travel insurance products, ranging from trip cancellation and medical coverage to emergency evacuation and comprehensive multi-trip policies. Moreover, the U.S. insurance sector is highly developed, featuring sophisticated underwriting processes, extensive distribution networks, and technologically advanced platforms that facilitate online policy purchases, claims management, and real-time customer support. The country’s regulatory framework, while rigorous, ensures consumer protection and builds trust in the travel insurance ecosystem, further encouraging adoption. American travelers tend to be risk-averse and value the peace of mind that comes from knowing they are financially safeguarded against travel disruptions, medical emergencies, or unforeseen events. The proliferation of digital channels, mobile apps, and AI-powered policy customization in the U.S. has also transformed how travelers purchase and manage insurance, making it more accessible, convenient, and tailored to individual needs. Furthermore, partnerships between travel agencies, airlines, and insurance providers have expanded distribution, offering travelers bundled solutions that make insurance a routine consideration rather than an optional extra.
***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.
According to the research report ""North America Travel Insurance Market Outlook, 2030,"" published by Bonafide Research, the North America Travel Insurance market was valued at more than USD 6.76 Billion in 2024. The surge in outbound tourism, with millions of people traveling across borders for leisure, business, education, and medical purposes, which amplifies the need for comprehensive policies covering medical expenses, evacuation, cancellations, and theft; according to recent travel trends, international tourist arrivals are steadily recovering post-pandemic, reinforcing the demand base. Where a single hospital visit in regions like North America can cost thousands of dollars, making travel insurance a necessity rather than an optional add-on, particularly for elderly and business travelers. Digital-first insurers and InsurTech companies are leveraging AI for faster claims processing, blockchain for secure data management, and parametric models for instant payouts triggered by predefined events like flight delays, creating opportunities for differentiation and efficiency gains. Embedded insurance, offered seamlessly through airlines, booking portals, and travel apps, is an also pushing adoption rate higher, since customers can purchase cover with a single click during trip planning. Supporting events, trade shows, and conferences such as the International Travel & Health Insurance Conferences (ITIC), World Travel Market (WTM), and industry seminars on insurance technology provide platforms for insurers, brokers, and tech providers to network, showcase innovations, and forge partnerships that strengthen global reach. Interesting facts include the growing popularity of “cancel for any reason” (CFAR) policies, which surged after COVID-19, as travelers demand more flexibility in uncertain environments, and the fact that digital distribution channels are now outpacing traditional agents in several regions, especially among younger travelers who prefer app-based policy management.
Market Drivers
• High Frequency of International and Domestic Travel: North America, particularly the United States and Canada, has one of the highest rates of international and domestic travel in the world. A large proportion of the population engages in overseas vacations, business trips, student travel, and medical tourism. This constant movement creates strong demand for comprehensive travel insurance coverage to safeguard against unexpected medical emergencies, flight cancellations, and loss of valuables. Furthermore, many destinations require proof of travel insurance before granting entry, which boosts adoption among North American travelers who frequently visit Europe, Asia, and other regulated regions.
• Strong Healthcare Costs and Risk of Medical Emergencies Abroad: The extremely high cost of healthcare in North America compared to many other regions is a major driver of travel insurance adoption. Travelers understand that even a minor medical emergency abroad can lead to substantial financial burdens if not covered by insurance. Policies that include overseas medical coverage, emergency evacuation, and hospitalization benefits are therefore highly valued. Additionally, the aging baby boomer population in the U.S. and Canada, which represents a large segment of frequent travelers, seeks travel insurance to cover pre-existing medical conditions, creating steady growth in demand.
Market Challenges
• Misconceptions and Limited Awareness Among Certain Travelers: Despite strong adoption in urban areas, a challenge persists in reaching occasional or budget-conscious travelers who underestimate the value of travel insurance. Many believe that their existing health or credit card insurance is sufficient to cover overseas medical costs, which often is not the case. This misconception leads to lower penetration in some segments. Moreover, policy language complexity and lack of transparency in coverage exclusions discourage first-time buyers, limiting broader market expansion in North America.
• Rising Premiums and Inflationary Pressures: One of the biggest challenges for insurers in North America is balancing affordability with comprehensive coverage. Inflation in medical costs, higher airline disruptions, and an increase in claims related to global uncertainties such as pandemics, natural disasters, and geopolitical instability have driven premiums upward. These higher costs discourage younger travelers and budget-conscious consumers, who often view travel insurance as optional rather than essential. For insurers, managing profitability while keeping premiums competitive remains a difficult balancing act.
Market Trends
• Integration of Travel Insurance with Digital Platforms: A strong trend in North America is the integration of travel insurance offerings with online booking platforms, airlines, and fintech apps. Consumers can now purchase policies instantly while booking flights or hotels online, making coverage more accessible. Mobile apps also enable easy claim submission, real-time assistance, and customized coverage options. This seamless digital integration appeals to tech-savvy travelers and is driving adoption, particularly among millennials and Gen Z who prefer convenience and transparency.
• Growing Popularity of Customized and Adventure-Specific Policies: North American insurers are increasingly designing niche travel insurance plans tailored to unique traveler categories. With a rise in adventure tourism such as skiing, hiking, and diving, specialized plans covering high-risk activities are gaining traction. Similarly, long-term coverage for students, remote workers, and elderly travelers is expanding. The trend reflects a shift away from one-size-fits-all products toward highly personalized policies that align with the lifestyle and needs of modern travelers, giving insurers a competitive advantage in a mature market.
The Long-stay Travel Insurance type is moderately growing in North America due to the rising number of remote workers, retirees, and long-term travelers seeking extended coverage for health, trip interruptions.
The rise of remote work and the growing popularity of the digital nomad lifestyle have created a new demographic of travelers who spend months outside their home countries while continuing their professional or entrepreneurial activities. Unlike short-term vacationers, these long-stay travelers require insurance policies that provide comprehensive medical coverage, protection against trip interruptions, and safeguards for personal belongings for extended periods, often ranging from several months to a year. Additionally, retirees and senior citizens increasingly seek long-stay insurance to cover overseas wintering or multi-month leisure travel, driven by the desire to explore foreign destinations without sacrificing security or healthcare support. This trend is further reinforced by North Americans’ increasing awareness of the risks associated with international travel, including unexpected medical emergencies, cancellations due to unforeseen events, and travel advisories linked to political, health, or environmental factors. Insurance providers in the region have responded by offering flexible, customizable policies that cater specifically to long-duration stays, featuring options such as coverage for pre-existing medical conditions, extended medical evacuation, telemedicine support, and continuity of coverage in multiple countries. While the growth is moderate compared to short-term or single-trip policies, it reflects a steady and strategic expansion of the market as travelers seek specialized solutions that go beyond standard travel insurance packages. Moreover, the global pandemic has heightened the emphasis on health and safety, encouraging travelers to secure extended coverage before embarking on prolonged stays abroad. The market for long-stay travel insurance in North America is therefore influenced by a mix of demographic shifts, lifestyle changes, technological advancements, and risk-conscious behavior.
Medical Insurance is leading in the North American travel insurance industry because travelers prioritize access to quality healthcare and financial protection against high medical costs during trips abroad.
The United States and Canada have some of the highest healthcare costs globally, and even routine medical emergencies while traveling can become financially burdensome for travelers. This risk awareness drives a strong demand for travel medical insurance, as individuals seek coverage that protects against unexpected accidents, illnesses, or hospitalizations overseas. Additionally, the complexity of healthcare systems abroad and variations in medical standards make it essential for North American travelers to secure insurance that guarantees access to reliable medical facilities, emergency medical evacuation, and continuity of care in unfamiliar locations. The rise in international tourism, whether for leisure, business, education, or extended stays, has further reinforced the necessity of medical travel insurance, as travelers are increasingly exposed to diverse health risks, including infectious diseases, accidents, and chronic condition flare-ups. In addition, the COVID-19 pandemic has significantly intensified travelers’ focus on medical coverage, as uncertainties around treatment, hospitalization, quarantine requirements, and repatriation highlighted the critical role of insurance in mitigating health-related financial risks. North American insurance providers have responded by offering comprehensive medical travel insurance plans that cover hospitalization, physician visits, emergency medical evacuation, prescription medications, and sometimes additional services like telemedicine consultations or coverage for pre-existing conditions, ensuring that travelers can receive timely and quality care anywhere in the world. The popularity of this insurance type is also supported by regulatory and institutional factors, such as visa requirements for certain countries that mandate travelers to have adequate medical insurance before entry, particularly for students and long-stay visitors.
Online platforms are leading in the North American travel insurance industry because they provide convenient, quick, and customizable insurance solutions that match the digital-first preferences of modern travelers.
The proliferation of internet access, mobile devices, and e-commerce has transformed the way travelers plan and book trips, making online platforms the natural choice for comparing, selecting, and purchasing travel insurance policies. These platforms offer a streamlined experience, allowing users to receive instant quotes, customize coverage options, and complete transactions without the need for in-person interactions or extensive paperwork. The ability to access multiple insurers and policy options through a single interface not only saves time but also enables travelers to make informed decisions based on their unique requirements, such as trip duration, destination, age group, or type of travel. Furthermore, online platforms provide easy access to reviews, ratings, and user experiences, which helps build trust and transparency in decision-making a factor that is particularly important in North America, where consumers are highly informed and value clarity in product offerings. Technological advancements such as AI-driven recommendation engines, automated claim processing, and 24/7 virtual support further enhance the attractiveness of online platforms, offering seamless service even in emergencies while abroad. The COVID-19 pandemic accelerated this trend as travelers sought contactless and digital solutions for purchasing insurance, managing policies, and handling claims, reinforcing the convenience and safety advantages of online channels over traditional offline methods. In addition, partnerships between online travel agencies, airlines, and booking platforms with insurance providers have facilitated the bundling of travel insurance during ticket or package purchases, increasing penetration and driving growth through online channels.
The Education Travelers end-user type is growing in North America because an increasing number of students, interns, and academic professionals are traveling abroad for education, research, and exchange programs, driving demand for travel insurance that covers health, travel disruptions, and safety.
North American universities and colleges attract thousands of international students annually, while a significant portion of domestic students also pursue study-abroad programs, internships, and research opportunities across the globe. These travelers often face unique risks, such as medical emergencies, trip interruptions, lost luggage, and liability issues, which necessitate comprehensive travel insurance coverage. The increasing emphasis on global exposure and international experience in education has made study abroad an integral part of academic curricula, further boosting the number of long-term and short-term student travelers. Insurance providers are responding to this trend by offering policies specifically tailored to the needs of education travelers, including coverage for tuition reimbursement in case of unforeseen travel cancellations, health insurance that meets visa requirements, and protection for personal belongings. The COVID-19 pandemic highlighted the critical need for insurance coverage among education travelers, as program cancellations, travel restrictions, and medical uncertainties became more prevalent, prompting universities and students to prioritize policies that safeguard their academic investments and personal well-being. Additionally, governments and educational institutions increasingly require students and interns to secure travel insurance as part of visa and enrollment processes, creating a regulatory push that drives adoption. Digital channels have also played a significant role in facilitating growth, as students and parents can easily research, compare, and purchase travel insurance policies online, benefiting from instant quotes, flexible coverage options, and simplified claims processes.
The 1–17 years old age group is moderately growing in North American travel insurance because parents increasingly seek protection for their children’s health, safety, and travel-related risks during family vacations, study programs, and international trips.
Families increasingly consider travel insurance essential when planning international vacations or sending children on study-abroad programs, cultural exchanges, or summer camps, recognizing that medical emergencies, accidents, or travel disruptions can occur unexpectedly. The financial burden of medical treatment abroad, coupled with the need for specialized pediatric care, makes insurance coverage a critical safety net for this age group. Travel insurers in North America have responded to this demand by designing policies specifically tailored for minors, often bundled with family coverage, which provide comprehensive medical protection, emergency evacuation, accidental death and disability coverage, and support services such as 24/7 medical assistance and teleconsultations. Moreover, the COVID-19 pandemic reinforced the importance of securing coverage for children, as travel disruptions, quarantine requirements, and potential exposure to infectious diseases emphasized the vulnerability of minors and the necessity of insurance protection. While parents prioritize health coverage, travel insurance also addresses non-medical risks, including trip cancellations, lost luggage, and delays, ensuring the smooth execution of family travel plans. The moderate growth in this age group reflects the fact that, while demand is rising steadily, it is largely tied to family travel patterns and specific educational programs rather than mass adoption, as minors do not travel independently as frequently as adults. Online platforms and digital distribution channels have further supported this growth by making it easier for parents to compare and purchase child-inclusive policies quickly, customize coverage, and manage claims efficiently.
The USA leads the North American travel insurance industry due to its high outbound travel volume, strong insurance infrastructure, and a consumer culture that prioritizes risk management and financial protection.
The United States dominates the North American travel insurance market largely because of its massive and diverse outbound travel population, which consistently drives demand for travel-related financial protection. Americans are among the most frequent international travelers in the world, visiting regions across Europe, Asia, Latin America, and the Caribbean, as well as domestic travel to remote or high-risk areas. This high travel frequency creates a consistent and expanding market for travel insurance products, ranging from trip cancellation and medical coverage to emergency evacuation and comprehensive multi-trip policies. Moreover, the U.S. insurance sector is highly developed, featuring sophisticated underwriting processes, extensive distribution networks, and technologically advanced platforms that facilitate online policy purchases, claims management, and real-time customer support. The country’s regulatory framework, while rigorous, ensures consumer protection and builds trust in the travel insurance ecosystem, further encouraging adoption. American travelers tend to be risk-averse and value the peace of mind that comes from knowing they are financially safeguarded against travel disruptions, medical emergencies, or unforeseen events. The proliferation of digital channels, mobile apps, and AI-powered policy customization in the U.S. has also transformed how travelers purchase and manage insurance, making it more accessible, convenient, and tailored to individual needs. Furthermore, partnerships between travel agencies, airlines, and insurance providers have expanded distribution, offering travelers bundled solutions that make insurance a routine consideration rather than an optional extra.
***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.
Table of Contents
91 Pages
- 1. Executive Summary
- 2. Market Dynamics
- 2.1. Market Drivers & Opportunities
- 2.2. Market Restraints & Challenges
- 2.3. Market Trends
- 2.4. Supply chain Analysis
- 2.5. Policy & Regulatory Framework
- 2.6. Industry Experts Views
- 3. Research Methodology
- 3.1. Secondary Research
- 3.2. Primary Data Collection
- 3.3. Market Formation & Validation
- 3.4. Report Writing, Quality Check & Delivery
- 4. Market Structure
- 4.1. Market Considerate
- 4.2. Assumptions
- 4.3. Limitations
- 4.4. Abbreviations
- 4.5. Sources
- 4.6. Definitions
- 5. Economic /Demographic Snapshot
- 6. North America Travel Insurance Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Insurance Types
- 6.4. Market Size and Forecast, By Insurance Coverage
- 6.5. Market Size and Forecast, By Distribution Channel
- 6.6. Market Size and Forecast, By End-User
- 6.7. Market Size and Forecast, By Age Group
- 6.8. United States Travel Insurance Market Outlook
- 6.8.1. Market Size by Value
- 6.8.2. Market Size and Forecast By Insurance Types
- 6.8.3. Market Size and Forecast By Insurance Coverage
- 6.8.4. Market Size and Forecast By Distribution Channel
- 6.9. Canada Travel Insurance Market Outlook
- 6.9.1. Market Size by Value
- 6.9.2. Market Size and Forecast By Insurance Types
- 6.9.3. Market Size and Forecast By Insurance Coverage
- 6.9.4. Market Size and Forecast By Distribution Channel
- 6.10. Mexico Travel Insurance Market Outlook
- 6.10.1. Market Size by Value
- 6.10.2. Market Size and Forecast By Insurance Types
- 6.10.3. Market Size and Forecast By Insurance Coverage
- 6.10.4. Market Size and Forecast By Distribution Channel
- 7. Competitive Landscape
- 7.1. Competitive Dashboard
- 7.2. Business Strategies Adopted by Key Players
- 7.3. Key Players Market Positioning Matrix
- 7.4. Porter's Five Forces
- 7.5. Company Profile
- 7.5.1. Allianz SE
- 7.5.1.1. Company Snapshot
- 7.5.1.2. Company Overview
- 7.5.1.3. Financial Highlights
- 7.5.1.4. Geographic Insights
- 7.5.1.5. Business Segment & Performance
- 7.5.1.6. Product Portfolio
- 7.5.1.7. Key Executives
- 7.5.1.8. Strategic Moves & Developments
- 7.5.2. Zurich Insurance Group Ltd.
- 7.5.3. Axa S.A.
- 7.5.4. Chubb Limited
- 7.5.5. American International Group, Inc.
- 7.5.6. Tokio Marine Holdings, Inc
- 7.5.7. Assicurazioni Generali S.p.A.
- 7.5.8. Aviva plc
- 7.5.9. MetLife, Inc.
- 7.5.10. UnitedHealth Group Incorporated
- 7.5.11. Seven Corners, Inc.
- 7.5.12. Berkshire Hathaway Travel Protection
- 8. Strategic Recommendations
- 9. Annexure
- 9.1. FAQ`s
- 9.2. Notes
- 9.3. Related Reports
- 10. Disclaimer
- List of Figures
- Figure 1: Global Travel Insurance Market Size (USD Billion) By Region, 2024 & 2030
- Figure 2: Market attractiveness Index, By Region 2030
- Figure 3: Market attractiveness Index, By Segment 2030
- Figure 4: North America Travel Insurance Market Size By Value (2019, 2024 & 2030F) (in USD Billion)
- Figure 5: North America Travel Insurance Market Share By Country (2024)
- Figure 6: US Travel Insurance Market Size By Value (2019, 2024 & 2030F) (in USD Billion)
- Figure 7: Canada Travel Insurance Market Size By Value (2019, 2024 & 2030F) (in USD Billion)
- Figure 8: Mexico Travel Insurance Market Size By Value (2019, 2024 & 2030F) (in USD Billion)
- Figure 9: Porter's Five Forces of Global Travel Insurance Market
- List of Tables
- Table 1: Global Travel Insurance Market Snapshot, By Segmentation (2024 & 2030) (in USD Billion)
- Table 2: Influencing Factors for Travel Insurance Market, 2024
- Table 3: Top 10 Counties Economic Snapshot 2022
- Table 4: Economic Snapshot of Other Prominent Countries 2022
- Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
- Table 6: North America Travel Insurance Market Size and Forecast, By Insurance Types (2019 to 2030F) (In USD Billion)
- Table 7: North America Travel Insurance Market Size and Forecast, By Insurance Coverage (2019 to 2030F) (In USD Billion)
- Table 8: North America Travel Insurance Market Size and Forecast, By Distribution Channel (2019 to 2030F) (In USD Billion)
- Table 9: North America Travel Insurance Market Size and Forecast, By End-User (2019 to 2030F) (In USD Billion)
- Table 10: North America Travel Insurance Market Size and Forecast, By Age Group (2019 to 2030F) (In USD Billion)
- Table 11: United States Travel Insurance Market Size and Forecast By Insurance Types (2019 to 2030F) (In USD Billion)
- Table 12: United States Travel Insurance Market Size and Forecast By Insurance Coverage (2019 to 2030F) (In USD Billion)
- Table 13: United States Travel Insurance Market Size and Forecast By Distribution Channel (2019 to 2030F) (In USD Billion)
- Table 14: Canada Travel Insurance Market Size and Forecast By Insurance Types (2019 to 2030F) (In USD Billion)
- Table 15: Canada Travel Insurance Market Size and Forecast By Insurance Coverage (2019 to 2030F) (In USD Billion)
- Table 16: Canada Travel Insurance Market Size and Forecast By Distribution Channel (2019 to 2030F) (In USD Billion)
- Table 17: Mexico Travel Insurance Market Size and Forecast By Insurance Types (2019 to 2030F) (In USD Billion)
- Table 18: Mexico Travel Insurance Market Size and Forecast By Insurance Coverage (2019 to 2030F) (In USD Billion)
- Table 19: Mexico Travel Insurance Market Size and Forecast By Distribution Channel (2019 to 2030F) (In USD Billion)
- Table 20: Competitive Dashboard of top 5 players, 2024
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