High gas prices burn a hole in everyone’s wallet, but as the economy gets better and there becomes a higher demand for traveling, Americans begin to spend more on summer travels. According to a survey that was recently released by a global travel assistant company called Mondial Assistance USA, in the summer of 2011 Americans spent about $16 billion more then they did back in 2010, which is quite a large jump.
Almost half of all Americans have said that they are fairly confident that they will be taking a summer vacation this year, which has went up by 5 points since last year, and in the last two years it has gone up by 10 points. According to the survey, Americans plan to spend about $86 billion on the summer vacations of 2011.
And if that wasn’t enough, more Americans are actually planning on spending more money on these vacations as well. The average family plans on spending about $1,700 dollars this year on the vacation, up by about $200 dollars from last year. Some of these people also plan on getting travel insurance, but before you do as well, it is best to know what it does for you.
Travel insurance is when they cover medical expenses for the trip, things that may get lost on the trip as well as covering emergency evacuations that may affect your time there. If the trip gets canceled they can reimburse you for your loss, if the trip is delayed or in case of lost or stolen luggage. Even from trip cancellations to delays in your travel due to weather. It is a great tool to have on your side for when you go traveling.