The survey also found that most Allianz customers plan to travel in the near future with summer trips planned to US, European and Caribbean destinations. Cruise will rebound significantly as almost a fifth of Allianz customers are planning cruises while just one in 10 will take road trips. Covid outbreaks and the impact of inflation are the top concerns of Allianz Travel Insurance customers. The survey results included the opinions of a random sample of more than 2,000 Allianz customers.
Travel insurance continues to be an important consideration for travellers, with 90 per cent of survey respondents reporting they were ‘extremely or somewhat likely’ to purchase trip protection when booking their next trip.
When asked about summer travel concerns, the top two cited by respondents were ‘another Covid spike causing travel issues/delays’ (37 per cent) and ‘testing positive for Covid before or during my trip’ (24 per cent). Other concerns include ‘more expensive food and entertainment’ (seven per cent) and ‘higher fuel prices’ (six per cent).
Allianz customers remained bullish on travel, with 60 per cent saying they will travel in the next one to four months, and 21 per cent saying they will take a trip in the next month. Summer travellers are primarily electing for domestic destinations with 46 per cent travelling within the continental US, and European getaways taking 27 per cent of customers across the pond. Mexico, Caribbean, and Hawaii account for 16 per cent of customers’ planned summer trips and five per cent are headed to Canada, a review of customers found.
Air travel continues to be favoured
To take these summer trips, air travel continues to be the favoured mode of transportation with 61 per cent of respondents flying to their destinations. Cruising made gains compared to last year – with 18 per cent of customers answering it would be their primary mode of transportation, up from a similar survey in 2021 that noted only 11 per cent of respondents were opting to sail. Despite the launch of the typical road trip season, driving accounted for only 11 per cent of 2022 summer travel plans.
Polling customers on what they are choosing to do on their summer trips, the survey revealed that 44 per cent plan to go to the theatre or attend a show as the favoured activity on summer travel itineraries, followed by a concert or music festival (19 per cent). Fifteen per cent of respondents said they were going to a health-focused retreat/event or visiting a theme park, 13 per cent will attend a sporting event, 12 per cent a wedding and nine per cent a conference.
“Our customers tell us that they’re eager to travel this summer and explore the destinations that they’ve waited so long to visit,” said Daniel Durazo, Director of External Communications at Allianz Partners USA. “But they’re also taking precautions to protect their travel investment against unforeseen covered circumstances that may derail their trip. While Covid continues to be a top concern, travel insurance can provide coverage for covered epidemic illnesses, medical emergencies and individually-ordered mandatory quarantines, as well as other unexpected covered cancellations, trip interruptions, travel delays and baggage issues.”