Adventure Travel Insurance Market Report 2025

The adventure travel insurance market size has grown strongly in recent years. It will grow from $2.34 billion in 2024 to $2.55 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth during the historic period can be attributed to the rising popularity of solo adventure tourism, increasing demand for customized insurance products, higher incidence of travel-related medical emergencies, greater accessibility to remote adventure destinations, and growing interest in ecotourism and experiential travel.

The adventure travel insurance market size is expected to see strong growth in the next few years. It will grow to $3.56 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%. In the forecast period, growth is expected to be driven by a stronger focus on real-time emergency support, wider adoption of wearable health trackers for travelers, increasing emphasis on personalized insurance coverage, growing popularity of multi-activity adventure travel packages, and rising travel activity among senior adventure tourists. Key trends anticipated include technology-enabled claims processing, advancements in wearable technology, progress in telemedicine services, technology-driven fraud detection systems, and the development of mobile app-based insurance platforms.

The increase in international travel is expected to drive growth in the adventure travel insurance market. International travel involves crossing national borders for purposes such as tourism, business, education, or visiting friends and family. This rise is fueled by growing disposable incomes, enabling more individuals to afford overseas trips for leisure, work, or study. Adventure travel insurance supports international travel by offering coverage for high-risk activities, appealing to thrill-seekers and outdoor enthusiasts. It helps reduce financial uncertainties by covering emergencies and trip interruptions, boosting traveler confidence and safety. For example, according to the United Nations World Tourism Organization, a Spain-based UN specialized agency, international tourist arrivals increased by 172% between January and July 2022 compared to the same period in 2021. Thus, the growth in international travel is fueling the adventure travel insurance market.

Key players in the adventure travel insurance market are creating innovative insurance plans to improve coverage for high-risk activities and meet the evolving demands of adventure travelers. These plans provide financial protection against unforeseen travel events such as trip cancellations, medical emergencies, lost baggage, or delays. For instance, in May 2025, SOVENTURE Insurance, a US-based travel insurance provider, launched a suite of plans tailored for digital nomads and adventure seekers who frequently travel. These plans include emergency medical evacuation from remote locations, coverage for high-risk activities such as rock climbing and scuba diving, and flexible policy extensions for long-term travelers. This offering aims to empower globetrotters by reducing financial risks and allowing them to enjoy their adventures with peace of mind.

In November 2024, WorldNomads.com Pty Limited, an Australian insurance company, partnered with Gap 360 Ltd to offer adventure travel insurance directly through Gap 360’s booking platform. This collaboration seeks to improve traveler safety by providing easy access to customizable insurance plans covering high-risk activities, medical assistance, and travel disruption services. Gap 360 Ltd. is a UK-based adventure travel company that offers adventure travel insurance.

Major players in the adventure travel insurance market are Zurich Insurance Group Ltd., Chubb Limited, Generali Global Assistance, AXA Assistance, International Medical Group, Cover-More Group, Seven Corners Inc., Travelex Insurance Services Inc., Berkshire Hathaway Specialty Insurance, Global Rescue LLC, Travel Guard Group Inc., Battleface Insurance Services, Travel Insured International, World Nomads Group Pty Ltd, Arch RoamRight, InsureandGo Insurance Services Limited, InsureMyTrip, Allianz Global Assistance, Redpoint Resolutions LLC, Trawick International Inc., and Squaremouth, Adventure Care Assist.

North America was the largest region in the adventure travel insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in adventure travel insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the adventure 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.

Adventure travel insurance is a specialized policy designed to cover risks associated with high-risk activities during travel, such as hiking, scuba diving, skiing, or mountain biking. Its main goal is to provide financial protection for medical emergencies, trip cancellations, equipment loss, and evacuation related to adventure sports.

The key coverage types in adventure travel insurance include comprehensive coverage, trip cancellation insurance, emergency medical coverage, accidental death and dismemberment insurance, and specialized activities coverage. Comprehensive coverage offers broad protection against various travel-related risks, including trip cancellations, medical emergencies, and lost baggage. The range of adventure activities covered includes surfing, diving, kitesurfing, and jet skiing, with policies available in different durations such as short-term, annual, single-trip, and multi-trip plans. These insurance products are offered through multiple channels, including insurance companies, brokers, online platforms, and others, serving a wide array of end-users such as individuals, families, and groups.

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

The adventure travel insurance market includes revenues earned by entities through evacuation and rescue services, coverage for extreme sports and activities, equipment loss or damage reimbursement, and 24/7 travel assistance and support. 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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