InsureMyTrip Releases Holiday Travel Insurance Outlook 2023

Last updated on 01/11/2024

WARWICK, R.I., Oct. 30, 2023 -- As holiday spirits rise and trips get booked, InsureMyTrip unveils its insights into what travelers can expect for the 2023 Holiday Season. InsureMyTrip predicts a surge of travelers, increasing travel costs, and the potential for issues at the airport.

Top Holiday Destinations
According to data from InsureMyTrip, travelers are either staying close to home or seeking out warm weather this Thanksgiving and Christmas.

Top 3 Destinations for Both Thanksgiving and Christmas Travelers:

  1. United States
  2. Mexico
  3. Bahamas

Cost of Holiday Travel
Travel costs continue to trend higher as we get into the holiday season. While many Thanksgiving travelers are finding deals and spending 6.2% less this year over last – Christmas vacationers are seeing a 22% price hike.

Average Thanksgiving Travel Costs
- 2023: $3,592
- 2022: $3,800

Average Christmas Travel Costs
- 2023: $10,125
- 2022: $8,300

Top Holiday Travel Concerns
Travel concerns and stress tend to increase over the holiday season.

Flight Cancellations/Delays: Due to the high volume of travelers and sometimes unpredictable winter weather, flights can often get delayed or canceled, especially in places prone to snow and ice.

Crowds and Overbooking: Popular tourist destinations can become extremely crowded during holiday seasons, leading to long wait times, crowded attractions, and even overbooked accommodations.

Higher Prices: The demand for accommodations, flights, and other travel services usually spikes during holidays, leading to higher trip costs.

Lost or Delayed Luggage: With the increase in passenger numbers, there's a higher chance of luggage being lost, delayed, or mishandled by airlines.

Unforeseen Circumstances: Natural disasters, strikes, political unrest, terrorism or even unexpected personal emergencies can disrupt travel plans.

Holiday Travel Insurance Tips from InsureMyTrip
While these travel concerns cannot be prevented, travelers can be prepared. Here are five (5) tips to take the stress out of traveling during the holidays with travel insurance.

  1. Plan Ahead: Purchasing travel insurance well in advance can help ensure you get the coverage you need – as some benefits are time-sensitive.
  2. Comprehensive Coverage: To safeguard against the most common holiday travel concerns, opt for a comprehensive travel insurance plan. It offers a wide array of benefits including trip cancellation, trip delay, trip interruption, baggage, and emergency medical.
  3. Consider "Cancel for Any Reason": For added flexibility, especially in these unpredictable times, consider policies that offer the optional Cancel for Any Reason (CFAR) benefit.
  4. Check Medical Coverage: If traveling abroad, ensure your plan provides adequate medical coverage in your destination country. Remember, many domestic health insurances, including Medicare, offer limited or no coverage outside home borders.
  5. Stay Informed: Always keep an eye on travel advisories, both from your home country and your destination. Being informed can help you make timely and safe travel decisions.

Our travel insurance experts are available for interview regarding deeper insights, trend analysis, or to explore the best travel insurance options for your holiday plans.

Note: all terms and conditions, coverage limits, and benefits differ from policy to policy. It is important to review and understand the details of a policy before purchasing.

Media Contact:
Meghan Kayata
[email protected]

About InsureMyTrip

You like options. We do too. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.

SOURCE InsureMyTrip