Cost, airport issues and cancelling are top concerns for summer travellers
Travel insurance can protect holidaymakers from issues in these areas
A new survey from InsureMyTrip has founded that the main worries for travellers this summer are cost, airport issues, and having to cancel. The Covid-19 pandemic is no longer a major concern.
Cost data collected by the travel insurer showed that policyholders will pay an average of $2,415 more for a holiday this summer than in the summer of 2022.
Additionally, it found that all summer destinations for policyholders will cost more this year. The top five destinations and their costs are:
- Italy – 2023: $9,577; 2022: $7,676
- Canada – 2023: $8,191; 2022: $4,702
- United Kingdom – 2023: $8,544; 2022: $5,969
- France – 2023: $9,249; 2022: $6,496
- Mexico – 2023: $4,343; 2022: $3,360.
However, these increased costs, as well as concerns about airports and cancellations, are not deterring holidaymakers, with 81.4 per cent of the 1,600 people surveyed saying they will travel this summer.
Protecting the holiday
Travel Insurance Expert, Meghan Walch, explains how travel insurance can address the top three concerns.
As travellers pay more for vacations, they have more to lose if they need to cancel or cut a trip short, she explained. A travel insurance policy can help protect that financial investment for domestic and international trips. Also, buying early and providing an accurate trip cost when requesting a quote is essential to maximise travel insurance benefits, like reimbursement.
Issues at the airport, including flight delays, cancellations, and baggage loss, have become more prevalent over the past year. Policyholders may have coverage for these concerns under travel delay, missed connection, and trip interruption benefits.
- Travel Delay: Designed to provide reimbursement up to the stated limit for reasonable meals and accommodations while unable to travel for a certain number of hours
- Trip Interruption: May provide travellers reimbursement of the unused portion of their pre-paid, non-refundable trip costs if they must unexpectedly cut their travels short or a covered reason
- Missed Connection: Designed to provide travellers with coverage if a delayed flight (for example, three hours or more) causes a traveller to miss a cruise or tour departure.
A Comprehensive Plan includes the most benefits of all plan types, offering the best protection for the investment, she summarised.
Finally, for those who have to cancel a trip, there are two ways a policy can provide coverage.
- Trip Cancellation – This coverage is included in comprehensive plans. It is designed to provide reimbursement in the event a traveller must cancel a trip for an unforeseen, covered reason
- Cancel for Any Reason (CFAR): This add-on and optional benefit provides the most flexibility for a traveller to cancel for something other than a covered reason. If a traveller qualifies for CFAR, it can provide reimbursement of up to 50–75 per cent of the pre-paid, non-refundable trip costs two days prior to the scheduled departure.