The Travel Insurance division of Generali Global Assistance (GGA) has rolled out seaside coastal travel insurance. It is mainly for coastal and lakefront travellers.
Furthermore, the seaside coastal travel insurance plan is available to guests and property managers renting coastal and other waterfront properties.
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Through this new offering, GGA is aiming to tap opportunities in the vacation rental market. According to a Phocuswright report, the sector is also expected to be worth about $36.6bn by the end of 2018.
The offering will protect customers against events such as rental car breakdowns, lost sporting equipment, and beach closures due to contaminated waters.
Generali Global Assistance North America CEO Chris Carnicelli said: “We are excited to introduce this new offering and provide additional coverage to the coastal vacation rental industry – which is a significant segment of the industry.
“As the sharing economy and home rentals continue to increase in popularity, we see tremendous opportunities in this area and plan to continue raising our market presence with customised products and services.”
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By GlobalDataThe seaside coastal travel insurance plans will also offer coverage to adverse weather and hurricanes.
Generali Global Assistance, part of Italian insurer Generali Group, offers a full suite of services. These include travel insurance and emergency services, identity protection solutions, and beneficiary companion services.
