Squaremouth analysed data from thousands of policies purchased for travel between Thanksgiving and New Year’s Eve to identify four new trends this holiday season.
Coverage for Covid-19 related concerns has dominated travel insurance sales since the onset of the pandemic. Thirty-four per cent of travellers on Squaremouth specifically sought out Covid coverage for trips this holiday season. This is the highest level of interest in Covid coverage that Squaremouth has seen and is an increase from 21 per cent during the 2020 holiday travel season.
Earlier this year, Squaremouth reported insuring more travellers than prior to the pandemic. This holiday season, the comparison engine has insured 300-per-cent more travellers than last year, and 70-per-cent more than 2019.
Interest in travel insurance at a high
“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. “Travellers 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.”
Despite additional borders opening to US tourists, Caribbean destinations that have largely remained open throughout the pandemic continue to attract the most travellers. This holiday season, eight out of Squaremouth’s top-10 international destinations are Caribbean countries, with the Dominican Republic, Turks and Caicos, and the US Virgin Islands joining the list for the first time.
Prior to the pandemic, close to 90 per cent of trips booked for holiday travel were to international destinations. While border closures forced many travellers to stay stateside last year, Squaremouth reports a 326-per-cent increase in the number of US tourists travelling internationally this holiday season.