First travel insurance for trips to space announced

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Travel insurance has just taken on a whole new dimension with the announcement by German company Allianz that it is going to start offering insurance for people taking trips into space.

The news was reported by Reuters which revealed how the company could begin to provide insurance to travellers as early as next year.

It is timed to coincide with the first commercial space trips provided by Virgin Galactic, which has already reserved seats for 450 people.

The trips into space will cost the passengers $200,000, and for that they will spend a few minutes in sub-orbital space where they will experience weightlessness and will be able to see the curvature of the earth.

It’s a new dawn for travellers wealthy enough to afford the trips, and Allianz is getting into the market early. It did not want to provide too many details in case it ends up helping its competitors, but it did say that its prices will range from a low of $700 for a basic policy to around $10,000.

It suggested that it may end up providing about 20 different packages in total, and it will add extra features such as property cover and medical cover.

It is thought that such commercial trips into space are going to become more popular over the coming years. In fact, some companies are already providing trips into orbit for a hefty price tag.

Wherever people are travelling, opportunities are going to exist for travel insurance firms to get in on the action, and Allianz could be the first of many insurance companies to start offering space cover for those lucky or rich enough to experience trips that really are out of this world.


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