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Travelers booking trips last week (Nov. 6 through Nov. 12) were focused mainly on the United States, Mexico and Israel. Those are currently the most popular top destinations based on travel insurance policy sales.
The average travel insurance cost for the top 10 destinations ($263) went up by $18.13 compared to the week before. The current overall average cost of travel insurance is $291 per trip.
Travel Insurance Highlights This Week
- The most popular destination for travel is currently the United States.
- Average spending on future trips to the top 10 destinations is $3,738
- The most popular length for future trips is 16 days.
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Top 10 Travel Destinations and Costs
Domestic vs. International Trips
Many Americans who bought travel insurance last week are planning to take their trips overseas: 91% of travel insurance sales were for international trips.
The average trip cost for international travelers was $4,034. For domestic travelers, the average trip cost was $3,822.
International travelers paid an average of $265 for their travel insurance plans purchased last week, and domestic travelers paid an average of $220.
Average Trip Length and Cost
Last week the average trip length was 16 days.
Travelers ages 75 to 79 are planning the longest trips, at 21 days.
Travelers ages 60 to 64 are spending the most on their trips at an average of $2,858 per person. The overall average trip cost based on travel insurance sales for the 10 most popular destinations last week was $3,738.
Top Concerns Among Travelers
Last week, travelers were most interested in these issues and coverage types, based on searches done when shopping for travel insurance.
What Does Travel Insurance Cover?
The best travel insurance policies contain a variety of helpful coverage types, including:
- Trip cancellation: Reimburses non-refundable, pre-paid trip costs if you cancel for a reason listed in your travel insurance policy.
- Cancel for any reason: This add-on expands trip cancellation coverage. It lets you receive reimbursement for money you lose no matter why you cancel a trip.
- Travel medical: Pays for ambulances, hospital and doctor bills, lab work, medicine and X-rays if you need medical treatment during your trip.
- Emergency medical evacuation: Pays for emergency medical transportation to the nearest adequate treatment center.
- Trip delay: Provides compensation for meals, hotels, transportation and other reasonable expenses if you’re delayed for a reason covered in your policy, as long as the delay is after the required waiting period.
- Baggage: Reimburses you for the depreciated value of lost, stolen or damaged luggage and personal items covered by your policy.
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Who Needs Travel Insurance?
If you’re making large, non-refundable deposits for a trip, you may want travel insurance as a financial safety net in case you lose the money. For example, the trip cancellation insurance within a travel insurance typically covers the money you lose when you have to cancel a trip because of illness, injury, hurricanes and other common travel problems.
Travel insurance is also a good idea if you’re traveling abroad because many U.S. health insurance plans have limited or no coverage outside the country, including Medicare. The travel medical insurance portion of a policy can be crucial in case you get sick or are injured abroad.
