Travel insurance is growing in popularity among consumers in 2023, survey finds

Photo (c) Peter Dazeley - Getty Images

The trend has increased as travel has become more chaotic

While many consumers may be looking to get away in 2023, a new survey revealed that doing so may come with an additional purchase: travel insurance

According to a new study conducted by VisitorsCoverage, a travel insurance company, nearly 80% of travelers are more likely to protect their trip with travel insurance this year than in previous years. It may not be that surprising, considering how chaotic air travel has become.

“Travelers are now more aware of unforeseen circumstances that can affect their travel plans, and they are eager to take precautions to protect their environment,” said Rajeev Shrivastava, VisitorsCoverage CEO. 

Better safe than sorry

The survey included responses from over 1,000 adults across the country who reported traveling more than twice a year. They answered questions about their top travel concerns in 2023, their travel ideas and plans for the year, how they plan on traveling, and more. 

First and foremost, protecting a trip with travel insurance was a popular topic among survey respondents. Nearly 80% said that they’d be more likely to buy travel insurance this year than in previous years – a figure that is up 50% from years past. This highlights the fact that regular travelers are thinking differently about their travel plans in general. 

While the number one travel concern for the year was inflation and the rising costs associated with traveling, concerns about safety, weather, and delays were also prevalent. Fifteen percent of respondents are worried about both inclement weather and the risk of illness, while over 20% are concerned about flight delays, and 16% cited the fear of the unknown as one of their concerns. 

Consumers are ready to travel

Despite these concerns, consumers have plans to travel in 2023 – and no destination is off limits. Overall, nearly 90% of participants reported that their 2023 travel plans will be for leisure.  

Nearly 45% of participants said they’ll be taking more than five trips this year, and nearly 45% said they’ll be taking three or four trips this year. Seventy percent of respondents plan to travel both within the United States and abroad, with Europe being the most favored international locale. 

For those who may be looking for inspiration for their next getaway, the majority of the participants turn to their trusted friends and family or social media. So, if you’re thinking about your next vacation, consider asking those closest to you or those you interact with online. 

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