Travel insurance marketplace reveals budget-friendly destinations for spring
Travel insurance marketplace reveals budget-friendly destinations for spring | Insurance Business America
Travel
Travel insurance marketplace reveals budget-friendly destinations for spring
What’s the average price of a trip this year?
Travel
By
Terry Gangcuangco
The cost of spring travel this year has gone up by more than 11%, according to US-based travel insurance marketplace Squaremouth.
According to spring travel data published by Squaremouth, the average trip cost this year stands at $7,719; in 2023, the average price was $6,943; in 2022, $6,599; and in 2021, $6,172.
“High trip costs can result in significant financial loss if you need to unexpectedly cancel your trip,” Squaremouth said. “If you plan on traveling this spring, consider a comprehensive travel insurance plan with trip cancellation to protect your trip investment.
“These plans can cover up to 100% of your prepaid, non-refundable trip expenses, such as hotels and airfare, if you are forced to cancel for a covered reason.”
Meanwhile, in response to “higher than ever” travel prices, Squaremouth compiled a list of popular spring destinations with the lowest average in terms of trip costs.
Destination
Average trip cost
Bermuda
$3,987
Mexico
$4,667
Dominican Republic
$4,726
Jamaica
$4,747
Aruba
$5,121
The most popular destination, based on travel insurance policies sold, is Italy. According to Squaremouth, the average trip cost for this European favorite is $10,075.
“Many Americans are traveling long distances this spring, often with connecting flights,” added Squaremouth. “If you’re concerned about delays or missing a connecting flight, we recommend protecting your trip with a policy with strong travel delay and missed connection benefits.”
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