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Travel Insurance in the US Industry Data and Analysis
While demand for travel insurance has exhibited substantial volatility over the past five years, long-term growth has been robust. Pandemic-era travel restrictions in 2020 led to an unprecedented decline in travel insurers’ revenue, as international and domestic trips plummeted sharply and consumer willingness to travel waned. When restrictions eased and incomes recovered, pent-up demand for travel led to a vigorous rebound in travel insurance sales in 2021, with continued robust growth through 2024 as travelers caught up on delayed plans. Strong revenue expansions, along with elevated investment income because of recent jumps in interest rates, have bolstered profit’s revenue share in the last five years. As the pandemic backlog subsides, the market expects to see slower revenue gains in 2025. Overall, revenue for travel insurers has mounted at a CAGR of 3.7% over the past five years, reaching $5.8 billion in 2025. This includes a 2.0% jump in revenue in that year.
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What's included in this industry analysis
IBISWorld's research coverage on the Travel Insurance industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released October 2025.
About this industry
What's this industry report about?
The Travel Insurance industry in the United States operates under the NAICS industry code OD4771. Providers underwrite (i.e. assumes, pools and spreads out risk of financial losses over policyholders in exchange for premiums) travel insurance policies. Coverage can include losses from trip cancellation and delay, lost baggage and medical emergencies. Related terms covered in the Travel Insurance industry in the United States include underwriting, premiums, claims and flash sale.
What's included in this industry?
Products and services covered in Travel Insurance industry in the United States include Domestic trip cancellation/interruption, International trip cancellation/interruption and Travel medical plans.
What companies are included in this industry?
The Travel Insurance industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Travel Insurance industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Travel Insurance industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Travel Insurance industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Travel Insurance industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Travel Insurance industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Travel Insurance industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Travel Insurance industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Travel Insurance industry in the United States.
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Frequently Asked Questions
What is the market size of the Travel Insurance industry in the United States in 2026?
The market size of the Travel Insurance industry in the United States is $5.8bn in 2026.
How many businesses are there in the Travel Insurance industry in the United States in 2025?
There are 144 businesses in the Travel Insurance industry in the United States, which has declined at a CAGR of 2.4 % between 2020 and 2025.
How may import tariffs affect the Travel Insurance industry in the United States?
The Travel Insurance industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Travel Insurance industry in the United States?
The Travel Insurance industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Travel Insurance industry in the United States grown or declined over the past 5 years?
The market size of the Travel Insurance industry in the United States has been growing at a CAGR of 3.7 % between 2020 and 2025.
What is the forecast growth of the Travel Insurance industry in the United States over the next 5 years?
Over the next five years, the Travel Insurance industry in the United States is expected to grow.
What does the Travel Insurance industry in the United States include?
Providing domestic trip cancellation and interruption insurance and Providing international trip cancellation and interruption insurance are part of the Travel Insurance industry in the United States.
How competitive is the Travel Insurance industry in the United States?
The level of competition is moderate and increasing in the Travel Insurance industry in the United States.
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