On the road again: Summer road trip safety tips

Not even the pandemic can stop the nearly 85% of Americans expected to take a road trip this summer.

According to the Expedia report, 72% of survey respondents specifically said they’re choosing to go on a road trip this summer because it feels safer than flying.

Summer travel sure looks different in 2020. Although COVID-19 is keeping many travelers out of airports, it is not stopping adventure-seekers from reaching their getaway via four — or two — wheels.

About 85% of Americans will likely take a road trip this summer, according to the Expedia 2020 Summer Travel Report. Interest in domestic travel also is up 10% year-over-year, says the report, as the demand for ‘staycations’ increases.

“While the desire to get away is still going strong for many of us, how and where we’re choosing to go this summer looks different,” Nisreene Atassi, senior director of PR and social for Expedia.com, said in the report. “Beaches and national parks remain popular, but more Americans are choosing destinations that are closer to home and drivable, versus going somewhere more exotic. Interestingly, we’ve seen that travelers are making these plans at the last minute. Things are so unpredictable right now with COVID-19, so it’s possible that travelers feel more comfortable making travel plans for the near future vs. planning too far ahead.”

Road safety tips

Road trippers should consider these tips from Expedia when journeying this year:

Plan ahead: Plan where to stop for gas, how long to drive each day, and the time of day to drive through different areas/towns during the trip.
Know where to stay: Fifty-two percent of travelers expect to stay in a hotel or motel this summer, says Expedia. Make sure to research ahead or inquire about new hotel policies during the pandemic, such as decreased occupancy. Travelers also can opt for alternative accommodations, such as rentals, RVs, or staying with friends and family.
Vehicle maintenance: Have the car serviced or inspected before embarking on a trip to avoid any possible vehicle trouble on the road. Expedia also suggests that travelers consider renting a car with more space or better milage, if appropriate, and to bundle hotel and car rental packages to save money.
Download apps: Download apps that may come in handy while driving, whether it’s kid-friendly games or navigation tools.
Have cash: Be prepared for tolls, tipping and cash-only services.
Bring the essentials: In addition to the basics such as clothing and toiletries, road trippers should pack snacks, an emergency kit, a spare car key, ID and insurance card, and cleaning/sanitary products.

How insurance can come in handy

It probably goes without saying, but the most critical insurance needed for a road trip is, of course, auto coverage. But other coverages can come in handy, too. MONEY outlines three road trip scenarios and how insurance may apply to each.

If items are stolen: Homeowners or renters insurance may help cover items that are unlawfully taken from a hotel, rental, or even from a car, says MONEY. Travel insurance also will cover thefts while on a road trip, but beware of exclusions, as travel policies often exclude items such as musical instruments.
If expensive possessions are lost or damaged: Accidental damage or loss of personal belongings may be covered by some travel insurance policies. Another option would be to turn to credit card purchase-protection programs that will cover damage to an item bought within the time limit.
If a hotel or rental home needs to be canceled: Many hotel chains and online rental marketplaces have altered cancellation policies during the pandemic. But if something goes awry during a road trip and a cancellation falls outside policy terms, some credit card companies offer trip cancellation or trip interruption benefits that could trigger a reimbursement.

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Commercial P&C Insurance

Commercial Office Space Set for a Strong Comeback

The sustained increase in demand for office space across the nation since late 2022 suggests that the market has moved past its lowest point, according to insights from the real estate technology platform, VTS. Demand for office space began to rise in late 2022 and continued into early 2023. Since then, the office market has experienced a period of stability and growth, supported by favorable economic factors, indicating a market rebound. This conclusion is drawn from the VTS Office Demand Index (VODI), which tracks unique new tenant tour requests for office properties in key U.S. markets. The VODI serves as an early indicator of future office leasing activity. According to the index, demand for office space has grown consistently over the past 12 months, closing the second quarter with a 17% year-over-year increase and a 34% rise from the VODI’s lowest point in December 2022. A significant shift in office-based employment patterns further supports the belief that demand for office space has stabilized. After reaching its peak in August 2022, office-based employment declined by 3.9% in early 2024. However, this trend has since stabilized, and employment growth has remained steady. Additionally, a recent decrease in work-from-home rates has fueled the renewed demand for office space. “They say you can only recognize a market bottom after it has passed, and the office space market is no exception. Following what we now see as the bottom, the national demand has gradually increased, though it remains susceptible to economic challenges,” said Nick Romito, CEO of VTS. “However, the growth observed in VODI over the past 18 months, coupled with positive trends in the office-using workforce, suggests that the market has reset, and the worst is behind us.” It’s important to note that this national trend does not impact all local markets equally. Cities like Los Angeles and New York City have seen healthy growth in office space demand, while markets such as San Francisco and Washington, D.C., have experienced prolonged stagnation. In Los Angeles, office space demand surged in the second quarter, briefly surpassing pre-COVID levels, driven by an increase in the average size of office spaces sought by tenants. New York City followed a similar overall pattern, though with some softness in the second quarter. Conversely, San Francisco’s demand for office space remains unpredictable, largely due to its tech-focused workforce, which continues to favor remote work more than other industries. “Markets heavily dependent on the tech sector, like San Francisco and Seattle, are on a markedly different post-COVID recovery path compared to more diversified markets like Los Angeles and New York City. It may take some time before we see office demand in San Francisco and Seattle return to pre-COVID levels,” added Ryan Masiello, Chief Strategy Officer at VTS.

Cyber Liability

Global IT Outage Puts Business Interruption Insurance in the Spotlight

In July, a global IT outage had a significant impact on business interruption insurance policies, overshadowing the effects on cyber insurance coverages. “This incident wasn’t a result of a malicious attack, which is why typical cyber insurance policies may not have been activated,” explained Peter McMurtrie, a partner in West Monroe’s insurance sector, in an interview with PropertyCasualty360.com. “Where coverage was applicable, factors like deductible amounts, waiting periods, and coverage limits played a critical role in determining the extent of exposure,” McMurtrie noted. “Standard policies for small businesses were less likely to offer coverage, while more complex policies for mid-sized companies and Fortune 500 corporations may have included broader triggers for non-malicious outages caused by third-party software issues.” The outage was triggered by a software update on July 19, 2024, by cybersecurity firm CrowdStrike, which affected organizations worldwide using Microsoft Windows. This interruption had far-reaching consequences, including disrupting hospital systems, media outlets, financial institutions, delaying thousands of flights, and halting daily business operations. McMurtrie emphasized that while the initial impact of the outage was similar for both large and small businesses, the ability to recover operations and whether insurance covered the loss of business income varied. “Larger companies are more likely to have advanced disaster recovery plans that ensure service redundancy following unexpected outages,” he added. “Their insurance programs also tend to cover a wider range of incidents.” According to Microsoft, the CrowdStrike update error affected over 8.5 million Windows devices globally. The incident highlighted the interconnected nature of our global ecosystem, including cloud providers, software platforms, security services, and their clients. “It’s a stark reminder of the importance of prioritizing safe deployment and disaster recovery across the tech industry,” the company said in a blog post. McMurtrie pointed out that the outage’s widespread impact was largely due to its effect on organizations that are critical to societal infrastructure—sectors like agriculture, airlines, banking, energy, government, healthcare, manufacturing, and retail. “Insurance companies base their risk appetite on their ability to understand and price risks appropriately. This becomes increasingly challenging with emerging threats,” he said. “However, I anticipate that insurers will respond by clarifying policy language, refining risk selection criteria, and possibly developing new products specifically designed for this evolving exposure.”

On the road again: Summer road trip safety tips