Travellers’ concerns motivating them to buy insurance

This summer, travellers have spent more than ever on holidays, due to the rising costs across the world.

However, the high prices are not the only thing that travellers are worried about this travel season.

Travel insurance marketplace Squaremouth.com has revealed the most pressing concerns amongst travellers.

In its recent survey of more than 4,000 travel insurance customers, 73 per cent said they were more concerned or equally concerned about protecting their trip costs this summer compared to previous years. This can be attributed to more than half of respondents spending more than they usually do on their upcoming summer trip.

When polled about what motivated their decision to buy travel insurance, Squaremouth customers revealed the following:

• 68 per cent said their biggest concern was getting sick or injured while travelling
• 16 per cent reported they were most worried about having to cancel their trip
• 14 per cent stated their primary concerns involved delays or missing a connecting flight
• The remaining customers attributed their concerns to losing luggage or being impacted by the ongoing passport delays.

While no two travel seasons are the same, looking back at travel insurance claims data from past summers can help to predict what type of disruptions travellers are likely already facing this year and what can be expected for the remainder of summer.

The table below shows the frequency and average payout of various types of claims: