Friday, June 1, 2018
More American travelers than ever are purchasing travel insurance for vacations this summer. As the busy travel season begins, leading travel insurance comparison site, Squaremouth, reveals the biggest summer travel trends, including where travelers are headed and how much they're spending.
Demand for Travel Insurance Increases
More travelers are insuring their summer trips this year, compared to last year.
32% more travelers have purchased travel insurance for trips during the months of June, July and August 2018, compared to the same months in 2017.
What are Travelers' Biggest Concerns?
Travel insurance policies are comprehensive and typically include many benefits, however, Trip Cancellation and Emergency Medical are among the most common and popular benefits.
More than 80% of travelers buy policies with cancellation coverage to be able to get their money back if they need to cancel their trip.
Travelers buying policies with Flight Accidental Death & Dismemberment coverage for trips this summer increased 69% compared to last summer.
Travelers buying policies specifically with Hurricane & Weather coverage for trips this summer increased 14% compared to last summer.
Where are Travelers Headed This Summer?*
While the United States remains the most popular destination for summer travel overall, travel to international destinations continues to increase.
Canada is the top international destination for travelers this summer.
Norway and Germany have a significant increase in travelers compared to last summer with a gain of 67% and 47% respectively.
*Top 10 Destinations for American travelers ranked by year-over-year growth in the months of June, July & August
How Much are Travelers Spending?
Overall, travelers are spending slightly more on vacations this summer compared to last.
The average trip cost for a Top 10 Destination is $6,080.
Travelers heading to Mexico are spending the least, with an average of $3,310 per trip.
Travelers heading to Norway are spending the most, with an average of $9,754 per trip.
Top 10 International Destinations
Related Report: Travel to 'Last Chance' Destinations Spikes