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Sift Study: The average family wastes hundreds of $ on travel insurance

Travel insurance for a trip typically costs 4-10% of the total cost of the trip. That means if you’re paying what the average family does for a vacation, you’re looking at tacking on an additional $200 to $470 to your bill.

Sift recently launched a new version of its app that monitors travel insurance protections that many credit cards come. With so many consumers being unaware of what these hidden benefits as well as other credit card points/rewards, we decided to take an in-depth look at the 20 most commonly used credit cards on the Sift app to help them see how much they can save on their next vacations.

The average family spends a whopping $4,700 on their vacations. From the airfare and rental car to the hotel, food, and activities, the cost adds up quickly! That’s why the Sift team decided to take an in-depth look at the 20 most commonly used credit cards on the Sift app to see how to save you the most money on your next vacation.

In a new study, Sift looks at these cards to analyze things like money back on delayed flights and baggage, travel accident insurance, and restaurant reward points – added up, these perks could save you over $1,000 on your next trip.

Here are a few highlights:

  • Up to $500 back for delayed flights
  • Up to $3000 in reimbursement for delayed or lost luggage
  • Up to $10,000 in trip cancellation or interruption insurance
  • Car rental damage or theft insurance for up to 30 days
  • Up to $1,000,000 in travel accident insurance
  • 3x points for every dollar spent on air travel and hotels
  • 5x points on flights booked directly with airlines
News Editor - TravelDailyNews Media Network | + Posts

Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.

She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

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