Travelers Search for COVID-19 Coverage
As travelers begin booking trips into 2021, coronavirus concerns are still top of mind.
- Over a third of travelers searched for a policy that specifically included cancellation or medical coverage in the event they contract COVID-19 before or during their trip.
Interest in Cancellation Coverage Spikes
Cancellation protection remains a high priority, as 81% of policies purchased include Trip Cancellation benefits. Now, travelers are willing to spend more for more coverage.
- Pricey Cancel for Any Reason policies offer the most extensive cancellation coverage and account for 22% of all policies purchased, a 552% increase from last year.
Traveler Spending Has Increased
Despite reported travel deals and discounts, travelers are spending more on their trips this year.
- The average cost for international trips is $4,343.66, an 18% increase from last year.
- Domestic travelers are spending 27% more on their trips, with an average trip cost of $3,513.03
Planning Future Trips Further In Advance
Amidst COVID-19, travelers are being cautious and planning trips further in the future.
- With uncertainty surrounding travel restrictions, travelers heading to international destinations are purchasing their policies an average of 4 months prior to their departure, 50% further out than last year.
- Domestic travelers are planning trips 19% further out than last year.
Most Popular Destination Remains the Same
COVID-19 hasn’t changed travelers’ top destination choice, as the United States remains the most popular destination overall.
- As border closures limited international trips, travelers are insuring more domestic trips than international trips.
- Domestic trips account for 52% of all insured travel booked during the pandemic.
Methodology: Data is based on travel insurance policies purchased through Squaremouth.com between March 12 – September 21, 2020 for all future travel. Statistics reflect year-over-year changes unless otherwise noted.
SQUAREMOUTH compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth’s comparison engine and third-party customer reviews, travelers can research and compare travel insurance policies side-by-side. More information can be found at www.squaremouth.com.