Coverage for Covid-19 related concerns has dominated travel insurance sales since the onset of the pandemic, and remains the top concern for many travelers.
ST. PETERSBURG, FLA. — News of the new and highly transmissible Omicron variant couldn't come at a worse time, as the travel industry prepares for the busiest season since the onset of the Covid-19 Pandemic.
Travel insurance comparison site, Squaremouth.com, analyzed data from thousands of policies purchased for travel this holiday season to identify trends that show the state of travel going into Christmas week.
Covid Concerns Top of Mind (and on the Rise)
Coverage for Covid-19 related concerns has dominated travel insurance sales since the onset of the pandemic, and remains the top concern for many travelers. This holiday travel season, 33% of travelers on Squaremouth.com specifically sought out Covid coverage for trips this holiday season.
Travelers Spending More on Trips
With travelers regaining confidence, spending on holiday trips has increased this year, especially for travelers taking within the United States. Travelers taking domestic trips around Christmas and New Years are spending nearly 20% more this year compared to 2020, with the average domestic trip costing about $5,579. Spending for international trips has also increased over 2020, rising by 5% to $5,818.
Number of Insured Travelers Quadruples
Earlier this year, Squaremouth reported insuring more travelers than prior to the pandemic. This holiday season, the comparison engine has insured 300% more travelers than last year, and 70% more than 2019.
“Interest and awareness surrounding travel insurance is at an all-time high as we approach the busy holiday travel season,” said Megan Moncrief, chief marketing officer for Squaremouth. “Travelers are preparing differently this year by opting for travel insurance, to protect themselves in case travel plans are affected by unpredictable events from cancellations to illnesses.”
Caribbean Destinations Outpace European Countries as Most Popular
Despite additional borders opening to US tourists, Caribbean destinations that have largely remained open throughout the pandemic continue to attract the most travelers.
This holiday season, 6 out of Squaremouth’s top 10 international destinations are Caribbean countries, with the Dominican Republic, Turks and Caicos, and the British Virgin Islands joining the list for the first time.
This shows that travelers are cautiously confident traveling internationally this holiday season. Prior to the pandemic, close to 90% of trips booked for holiday travel were to international destinations. While border closures forced many travelers to stay stateside last year, Squaremouth reports a 326% increase in the number of US tourists traveling internationally this holiday season.
Travelers can quote, compare, and buy travel insurance for their holiday travel on Squaremouth.com. Squaremouth sells over 90 plans from 20+ providers, and offers the largest portfolio of products offering coverage related to the Covid-19 pandemic.
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.
