UAE travel insurance demand rises, but cost stays the same | Khaleej Times
Travellers are increasingly buying annual travel coverage rather than a single-trip insurance plan
The demand for travel insurance has grown significantly following the announcement of the upcoming Eid Al Fitr holiday, as numerous residents plan to travel abroad. Insurance industry executives noted a shift in preferences, with residents increasingly opting for annual travel insurance rather than single-trip insurance.
Faisal Abbas, vice-president for employment benefits and general insurance at The Continental Group, commented, “There has been a definite surge in travel insurance during the Eid holidays. We have even seen clients opting for annual travel insurance instead of single-trip travel insurance.”
Despite the increased demand, there hasn’t been a significant rise in premiums. “Costs of travel insurance products from most insurers haven’t significantly changed in response to demand. Compared to last year, many insurers have enhanced their travel insurance benefits relative to costs,” Abbas added.