Since COVID-19 has reduced to endemic levels, many are looking forward to travel going back to normal. Good news is that the trends are already showing high promise of a comeback. Yonder Travel Insurance shares findings of hope for the travel industry and how to navigate travel plan changes.
Travel Restrictions Lifted
Traveling feels a bit more normal since levels of COVID-19 restrictions are easing on several fronts. These include the CDC ending testing requirements for U.S. residents returning to the States and other destinations abolishing travel restrictions for foreign travelers.
Consistent Traveler Volume
According to the Transportation Security Administration (TSA), the average volume of travelers nowadays is 2.0 to 2.5 million. These numbers are only 5-10% of what they were in 2019, which was a record-breaking year of travel, but the fact that they remain stable is encouraging. When it comes to who feels more comfortable traveling, 78% of Millennials and 76% of Gen Xers feel most comfortable traveling with Baby Boomers (73%) and Gen Zers (72%) falling shortly behind.
Increased Travel Insurance Awareness
COVID-19 brought an increased awareness to trip cancellations and the importance of travel insurance. For example, in 2021, 48% of Allianz customers bought travel insurance for the first time! Although there are signs of travel improving, the unexpected still happens.
Contracting COVID-19 might cause you to cancel your trip and lose your nonrefundable costs. Flight delays or lost luggage may require you to dig into your travel budget for unplanned expenses like extra toiletries, clothes, extra hotel stays, or meals. Plus, medical emergencies and medical evacuations overseas can be costly and difficult to coordinate on your own. All these events are examples of what travel insurance would protect or cover!
“Travel insurance is becoming essential to travelers for the first time,” says Terry Boynton, President, and Co-Founder of Yonder. “Most of the calls we receive on a daily basis are first-time travel insurance buyers. Our team of friendly humans maintains a 5-star rating on Google for a reason as they help address questions and concerns regarding travel.”