The data found that 65 per cent of the website’s users are choosing a more expensive ‘silver’ or ‘gold’ tier product over a cheaper ‘bronze’ tier product when selecting a travel insurance policy for international travel. This includes 37.5 per cent purchasing silver policies in the first half (H1) of 2022, compared with 34.6 per cent for the same period in 2019, and 27.5 per cent purchasing gold tier policies for H1 2022, vs 25.6 per cent in H1 2019.
By contrast, fewer people are buying the cheaper, least comprehensive bronze tier policies – previously the site’s most popular option (35 per cent in H1 2022) – than pre-pandemic (39.8 per cent in H1 2019).
MoneySuperMarket also found that over half (51 per cent) of travellers in the second quarter (Q2) of 2022 bought their insurance at the last minute – often days before their trip.
Responding to the short-termism illustrated by this figure, Rachel Ditchburn, Travel Insurance Expert at MoneySuperMarket said: “With the on-going travel chaos and Covid still affecting travel plans, it has never been more important to double-check that your travel insurance provides the protection you need,” said Rachel Ditchburn, travel insurance expert at MoneySuperMarket.