Travel insurance marketplace reveals budget-friendly destinations for spring



Travel insurance marketplace reveals budget-friendly destinations for spring | Insurance Business America















What’s the average price of a trip this year?

Travel insurance marketplace reveals budget-friendly destinations for spring

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.









Destinations

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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