With the high cost of everything, travelers find it tough to decide if their trip requires coverage.
Holiday travel insurance is being taken very seriously this year as challenges continue for travelers heading away to visit friends and family.
Overbookings, delays, lost luggage and unexpected cancellations are among those challenges.
Thanksgiving trips were considered to be a small indicator of what is to be expected throughout the rest of the holiday season. What they have shown is that, as has been the case since the start of the pandemic, travelers are looking more carefully at holiday travel insurance and think of the coverage as increasingly important.
With travel expected to meet or even exceed pre-pandemic levels in the United States, but with the ongoing challenges still very much an issue, it’s no mystery why travelers would want to investigate the various options they have available to cover themselves against the risk of financial losses.
Inflation is making it harder for travelers to decide if they want holiday travel insurance.
This year, travelers find themselves facing an increased struggle in making their coverage decisions. Expense is easily among the primary factors determining whether people decide to buy a policy. This has always been the case. The debate is typically because the expenses related to traveling are already high enough that anything additional – and the average policy costs about 10 percent of the overall cost of a trip – can seem out of the question. That said, because those expenses are so high, there is an increased sense of risk of losing all that money if something unexpected should occur.
The reality of those unexpected risks has become exceptionally clear over the last few years, as millions of people discovered how quickly circumstances can change and cause all their plans to have to be altered or cancelled altogether.
That said, it remains important to note that not all holiday travel insurance policies are the same. Therefore, it is very important to clearly understand precisely what is covered as well as what exclusions exist. That way, if a claim does need to be made, there won’t be any unwanted surprises.