Date - 30/10/2023
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Category - Travel
News Distribution: InsureMyTrip Unveils 2023 Holiday Travel Insurance Outlook
Warwick, Rhode Island - October 30, 2023 - As the holiday season approaches and travel plans are set in motion, InsureMyTrip, a leading authority on travel insurance, presents its insights into what travelers can anticipate for the 2023 Holiday Season. The outlook highlights an expected surge in travelers, escalating travel costs, and potential challenges at airports.
Top Holiday Destinations
InsureMyTrip's data reveals that for Thanksgiving and Christmas, travelers are predominantly opting for destinations close to home or those offering warm weather escapes. The top three destinations for both Thanksgiving and Christmas travelers are:
- United States
- Mexico
- Bahamas
Cost of Holiday Travel
Travel costs are on an upward trajectory as the holiday season approaches. While Thanksgiving travelers may discover some deals, spending approximately 6.2% less compared to the previous year, Christmas vacationers are facing a notable 22% increase in prices.
Average Thanksgiving Travel Costs:
2023: $3,592
2022: $3,800
Average Christmas Travel Costs:
2023: $10,125
2022: $8,300
Top Holiday Travel Concerns
The holiday season often sees an increase in travel concerns and stress factors. Key concerns include:
Flight Cancellations/Delays: High volumes of travelers and unpredictable winter weather can lead to flight delays or cancellations, particularly in regions prone to snow and ice.
Crowds and Overbooking: Popular tourist destinations tend to get overcrowded during the holidays, resulting in long wait times, crowded attractions, and potentially overbooked accommodations.
Higher Prices: The demand for accommodations, flights, and travel services surges during the holidays, subsequently raising trip costs.
Lost or Delayed Luggage: With more passengers, there's a higher likelihood of luggage being lost, delayed, or mishandled by airlines.
Unforeseen Circumstances: Natural disasters, strikes, political unrest, terrorism, or unexpected personal emergencies can disrupt travel plans.
Holiday Travel Insurance Tips from InsureMyTrip
While some travel concerns are unavoidable, travelers can prepare for a smoother holiday journey with the help of travel insurance. Here are five tips to alleviate the stress associated with holiday travel:
Plan Ahead: Purchase travel insurance well in advance, ensuring you have the necessary coverage, as some benefits have time-sensitive requirements.
Comprehensive Coverage: Opt for a comprehensive travel insurance plan to safeguard against common holiday travel concerns. It provides benefits such as trip cancellation, trip delay, trip interruption, baggage coverage, and emergency medical assistance.
Consider "Cancel for Any Reason" (CFAR): For added flexibility, especially in uncertain times, explore policies offering the optional Cancel for Any Reason (CFAR) benefit.
Check Medical Coverage: If traveling internationally, ensure your plan includes adequate medical coverage in your destination country. Many domestic health insurance policies, including Medicare, offer limited or no coverage outside your home country.
Stay Informed: Keep an eye on travel advisories from both your home country and your destination. Staying informed allows for timely and safe travel decisions.
InsureMyTrip's team of travel insurance experts is available for interviews, offering deeper insights, trend analysis, and guidance on the best travel insurance options for your holiday plans.
About InsureMyTrip
InsureMyTrip understands that travelers value options. As a leading authority on travel insurance, InsureMyTrip assists travelers in finding the right travel insurance plan each time. Leveraging technology, data intelligence, and expertise, InsureMyTrip empowers travelers to make informed insurance decisions. The Better Business Bureau rates InsureMyTrip A+.
SOURCE: InsureMyTrip
