ST. PETERSBURG, Fla., Aug. 17, 2023 /PRNewswire/ — This summer has been the most expensive summer on record for travelers. However, high prices aren’t the only worry for travelers this season.
Squaremouth.com, the nation’s leading travel insurance marketplace, shares the most pressing concerns among travelers as we approach the final stretch of a hot, and pricey, summer travel season.
New Survey Reveals Summer Travel Concerns
In a recent Squaremouth survey of more than 4,000 travel insurance customers, 73% of respondents said they were more concerned or equally concerned about protecting their trip costs this summer compared to previous years.
This can be attributed to more than half of respondents spending more than they usually do on their upcoming summer trip.
When polled about what motivated their decision to buy travel insurance, Squaremouth customers revealed the following:
68% said their biggest concern was getting sick or injured while traveling
16% reported they were most worried about having to cancel their trip
14% stated their primary concerns involved delays or missing a connecting flight
The remaining customers attributed their concerns to losing luggage or being impacted by the ongoing passport delays
Reflecting on Last Summer’s Travel Disruptions
While no two travel seasons are identical, looking back at travel insurance claims data from past summers can help predict what type of disruptions travelers are likely already facing this year and what can be expected for the remainder of summer.
The table below shows the frequency and average payout of various types of claims:
|
Claim Type |
% of All Claims |
Average Claim |
||
|
2022 |
2021 |
2022 |
2021 |
|
|
Delay |
29.54 % |
27.24 % |
$461.58 |
$534.18 |
|
Cancellation |
36.32 % |
40.08 % |
$3,781.26 |
$3,715.97 |
|
Medical Emergency |
21.79 % |
18.68 % |
$738.38 |
$1,331.66 |
|
Baggage |
12.35 % |
14.01 % |
$224.86 |
$223.76 |
Notable Findings From Summer Claims Data:
Claims relating to trip cancellations are consistently among the most common and most expensive
Medical emergency claims have become more frequent
Travel insurance saved travelers $1,698 last summer on average
Notes to editors
Available Topic Expert: James Clark, Content Specialist, is available for comment and interview. [email protected]
About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth’s intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.
SOURCE Squaremouth