What type of policies account for most travel plans purchased in the US?

Trip cancellation and interruption policies account for the majority of travel plans purchased in the US due to the significant financial investment that travelers make in their trips. These policies protect travelers from losing the money they spend on non-refundable travel expenses if they need to cancel or interrupt their trip for unforeseen reasons, such as illness, emergencies, or other covered events.

This type of insurance provides peace of mind for consumers who want to ensure that their travel investments are protected. As travel plans can often involve considerable costs for flights, accommodations, and activities, the ability to recover those funds is a high priority. In contrast, while medical coverage, baggage coverage, and liability insurance can also be important, they tend to be seen as supplementary components rather than the primary reason travelers purchase insurance for their trips. Thus, the prevalence of trip cancellation and interruption policies reflects a broader trend in consumer behavior focusing on financial security and risk management in travel planning.