Jim Grace is the president and CEO of InsureMyTrip, a travel-insurance comparison website based in Warwick. With the recent surge in hurricane and tropical-storm activity along the coastal U.S., InsureMyTrip has reported higher than usual call volume from travelers seeking guidance about their options.
Grace spoke with Providence Business News about what travelers should know about travel insurance during hurricane season and what’s next for his company.
PBN: Are travelers more likely to consider purchasing travel insurance today compared with five or 10 years ago?
GRACE: Yes, travel-insurance demand is growing rapidly. The number of travelers buying travel insurance as a percentage of all travelers has grown over the years from 5-7 percent before 9/11 to 20 percent and now approaching 25 percent. At InsureMyTrip, we work hard to educate consumers about the value of travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence and expertise. We want travelers to find the right travel-insurance plan, every time.
PBN: What do travelers need to know before planning a trip during hurricane season?
GRACE: There is always risk associated with travel. Those considering a trip to a storm-prone region should be mindful that bad weather may affect their travel plans and they need to protect their trip investment. On the flip side, travelers visiting the Caribbean during this time of year may enjoy fewer crowds and better deals. The Atlantic hurricane season runs from June to November.
PBN: What plans does InsureMyTrip offer to cover travelers affected by hurricanes?
GRACE: Comprehensive travel-insurance protection is the broadest coverage available. The key is to buy early. Travel insurance is designed to cover unforeseen events. So, if you wait until after a storm has formed to buy travel insurance, your options are going to be more limited.
Travelers interested in learning more about protection plans for travel during hurricane season can visit www.insuremytrip.com or call (800) 487-4722 to speak with a licensed travel-insurance agent.
PBN: What are some of the top reasons your clients purchase travel insurance?
GRACE: Here are some of the top reasons to purchase travel insurance:
- If the traveler gets sick and must cancel a trip, travel insurance allows for the reimbursement of the pre-paid, nonrefundable trip cost.
- Travel-insurance plans may offer coverage if the traveler needs to cancel a trip due to severe weather.
- Travel-insurance plans allow for reimbursement of covered items if baggage is lost, damaged or stolen.
- Travel insurance can help reimburse a traveler for emergency medical care or fill gaps in a traveler’s primary health coverage while traveling.
- Many travel-insurance plans offer 24/7 emergency assistance services that can help travelers with hospital and doctor recommendations, arrange evacuations, or provide assistance in getting out of a country in times of crisis.
PBN: Looking forward, what is next for InsureMyTrip?
GRACE: There is a lot of great talent in Rhode Island and we are committed to keeping our headquarters in Warwick. As we near 100 employees, we look to expand our workforce with top individuals who can support our growing e-commerce and tech operations. We have built a culture that fosters innovation and celebrates the unique abilities of our talented staff.