Long Stay Travel Insurance Market Report 2025

The long stay travel insurance market size has grown strongly in recent years. It will grow from $3.57 billion in 2024 to $3.83 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period is attributed to rising international student enrollments, increased demand for overseas work opportunities, growing outbound tourism from emerging economies, expansion of corporate travel assignments, and a rise in retirement-related relocations.

The long stay travel insurance market size is expected to see strong growth in the next few years. It will grow to $5.04 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. In the forecast period, growth is expected to be driven by the increasing adoption of digital travel insurance platforms, greater awareness of long-term travel risks, a growing need for visa-compliant insurance, expansion of flexible coverage plans, and a rising preference for remote work abroad. Key trends anticipated include advancements in policy management technologies, innovations in biometric-based travel identity verification, development of real-time claims settlement tools, creation of tailored traveler profiles, and innovations in hyper-personalized insurance coverage.

The rise in international student mobility is expected to boost the growth of the long-stay travel insurance market in the coming years. International student mobility refers to students pursuing academic programs or exchanges outside their home countries. This trend is increasing due to growing demand for quality education, as students seek better academic opportunities, global exposure, and enhanced career prospects. Long-stay travel insurance supports this mobility by providing extended coverage for medical emergencies, travel disruptions, and personal belongings, ensuring safety and peace of mind during prolonged stays abroad and improving the overall study experience. For example, in November 2024, the Institute of International Education Inc., a US-based nonprofit, reported that the number of international students enrolled in U.S. colleges and universities reached over 1.1 million (1,126,690) in 2023-2024, marking a 7% increase compared to 2022-2023. Therefore, the increase in international student mobility is driving the growth of the long-stay travel insurance market.

Leading companies in the long-stay travel insurance market are developing innovative products such as extended-duration travel insurance policies to address the demand for comprehensive coverage during lengthy international stays. Extended-duration travel insurance plans offer continuous protection for travelers staying abroad for several months up to a year or more. For instance, in March 2024, Tata AIG General Insurance Company Limited, an India-based insurer, launched Travel Guard Plus, a comprehensive travel insurance plan. This product provides flexible coverage options, including a single-trip policy valid for up to 365 days and an annual multi-trip policy covering up to 180 days per trip. It caters to diverse travel needs by offering protection against personal baggage loss, flight delays, pandemics, and adventure sports. The plan also includes customizable add-ons and assistance services such as baggage and lost passport tracking, with specialized coverage options for senior citizens and Schengen visa travelers.

In December 2024, Zurich Insurance Group Ltd., a Switzerland-based insurer, acquired the personal travel insurance and assistance business from American International Group (AIG) for $600 million. This acquisition aims to reinforce Zurich’s leadership in the global travel insurance market by expanding its customer base, distribution channels, and digital capabilities. AIG, a US-based insurer, provides long-stay travel insurance through its Travel Guard division.

Major players in the long stay travel insurance market are Zurich Insurance Group Ltd., Chubb Limited, Generali Global Assistance, Campbell Irvine Ltd., Acko General Insurance Ltd., AXA Assistance, Travelex Insurance Services Inc., AllClear Travel Insurance Services Limited, World Nomads Group Pty Ltd., DR‑WALTER GmbH, InsureMyTrip LLC, SafetyWing Inc., Brunel Insurance Brokers Ltd., Flexicover Insurance Plc, Metropolitan Life Insurance Company, WorldwideInsure.com Ltd., Voyager Insurance Services Ltd., Jade Stanley Ltd, Outbacker Travel Insurance Plc, Alpha Travel Insurance Plc.

North America was the largest region in the long stay travel insurance market in 2024. The regions covered in long stay travel insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the long stay travel insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

Long stay travel insurance is a specialized type of travel insurance tailored for individuals traveling internationally for extended durations, usually from several months up to a year or more. It offers comprehensive protection against medical emergencies, trip interruptions, lost baggage, and other travel-related risks, ensuring continuous coverage and peace of mind during long-term stays abroad, such as for work, study, or extended vacations.

The primary coverage options for long stay travel insurance include single-trip and multi-trip policies. Single-trip long stay insurance provides continuous protection for one extended overseas journey, typically lasting several months to a year. These insurance plans are offered through various channels such as insurance brokers, insurance companies, banks, online platforms, and others, catering to a diverse range of travelers including students, business travelers, senior citizens, and others.

The long stay travel insurance market research report is one of a series of new reports that provides long stay travel insurance market statistics, including long stay travel insurance industry global market size, regional shares, competitors with a long stay travel insurance market share, detailed long stay travel insurance market segments, market trends and opportunities, and any further data you may need to thrive in the long stay travel insurance industry. This long stay travel insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The long stay travel insurance market includes revenues earned by entities through premiums for extended medical coverage, trip cancellation and interruption insurance, baggage and personal belongings protection, telemedicine and virtual health services, and travel delay and missed connection claims. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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