December 19, 2022 – Forbes Advisor

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Travelers who booked trips last week (December 11th to December 17th) were primarily concentrated in the United States, Mexico and the United Kingdom (United Kingdom). These are currently the most popular destinations based on travel insurance policy turnover.

The average travel insurance premium for the top 10 destinations ($243) increased by $4 compared to the previous week. The current overall average cost of travel insurance is $235 per trip.

This week’s travel insurance highlights

  • The United States is currently the most popular travel destination.
  • Average spend on future trips to top 10 destinations increased from last week to $3,745
  • The most popular length for future trips is 17 days.

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Top 10 travel destinations and costs

Domestic travel and international travel

Many Americans who purchased travel insurance last week are planning to travel abroad. 90% of travel insurance sales were for international travel.

The average travel cost for international travelers was $3,988. The average travel cost for domestic travelers was $4,081.

International travelers paid an average of $263 for travel insurance plans purchased last week, while domestic travelers paid an average of $227.

average travel time and cost

Those who purchased travel insurance last week are planning an average of 17 days of travel.

Travelers between the ages of 70 and 84 plan the longest trips of 20 days.

Travelers aged 65 to 69 spend the most on travel at an average of $3,274 per person. The overall average travel cost based on travel insurance sales for the 10 most popular destinations last week was $3,745.

Traveler’s top concerns

Based on the searches they conducted last week when purchasing travel insurance, travelers were most concerned with these issues and types of coverage.

What does travel insurance cover?

The best travel insurance includes a variety of valuable coverage types such as:

  • Trip Cancellation: If you cancel for the reasons stated in your travel insurance, we will refund your non-refundable prepaid travel expenses.
  • Cancel for any reason: This add-on extends your trip cancellation coverage. You can get your lost money refunded regardless of the reason you canceled your trip.
  • Travel medicine: Pay for ambulances, hospital and doctor bills, lab work, medicines, and x-rays if you need medical attention while traveling.
  • Emergency medical evacuation: We will cover the cost of emergency medical transportation to the nearest appropriate treatment center.
  • Travel delay: As long as the delay has passed the required waiting period, we will compensate you for meals, hotel, transportation and other reasonable expenses if you are delayed for any reason stated in our policy.
  • load: Reimburse depreciation for lost, stolen or damaged baggage and personal items covered by the policy.

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who needs travel insurance

If you have a large non-refundable deposit for your trip, you may need travel insurance as a financial safety net in case you lose money. Covers your losses if you have to cancel your trip due to illness, injury, hurricanes, or other common travel issues.

Many U.S. health insurance plans, including Medicare, have limited or no coverage outside the country, so it’s a good idea to have travel insurance even if you plan to travel internationally. The travel medical insurance portion of the policy is very important in case you get sick or injured abroad.

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