How the Covid-19 Vaccine Rollout is Changing Traveler Behavior
It's been just over 3 months since the rollout of the Covid-19 vaccine, and there has already been a notable shift in traveler behavior. Travel insurance comparison site, Squaremouth, breaks down how the Covid-19 vaccine is impacting the way travelers are approaching their trips in 2021.
Travelers are Spending More on Trips
- Since the rollout of the vaccine, U.S. travelers are spending 10% more on their trips on average
Due to the extreme uncertainty caused by the Covid-19 pandemic, travelers had been more hesitant than usual to spend money on trips. Amid the rollout of the vaccine, Squaremouth reports that travelers are regaining their confidence.
On average, U.S. travelers are spending $338 more per trip over the past three months. Travelers are now spending more than $3,800 per trip, a 10% increase from the three months prior to the vaccine.
Travelers are Planning Further Ahead
- The average traveler is buying travel insurance more than 70 days before their trip
Since the rollout of the vaccine, travelers are planning their trips much sooner. The average traveler is buying their travel insurance policy 71 days before they depart for their trip. Before the vaccine became available, the average traveler bought their policy 58 days ahead of their trip.
Travelers are More Willing to Take Shorter Trips
- The average trip length has decreased by 20% since the vaccine rollout
Travelers are still willing to travel, despite facing a completely new layer of challenges that come with traveling during a pandemic. Although U.S. travelers are planning and booking more trips, Squaremouth data shows their trips are notably shorter.
In the three months since the vaccine became publicly available, the average trip insured through Squaremouth.com is less than 16 days. This is down more than 20% from the three months prior, when the average trip length was nearly 20 days.
Squaremouth maintains a large portfolio of travel insurance products that offer coverage related to the Covid-19 pandemic, including cancellation and emergency medical benefits for contracting the virus, and Cancel For Any Reason coverage. Travelers can search for policies that include Covid-19-related coverage, including Cancel for Any Reason, here.
Methodology: Squaremouth.com hosts the largest number of travel insurance providers and policies that offer coverage related to the Covid-19 pandemic. Squaremouth Analytics has compared thousands of travel insurance policies purchased pre-and-post-pandemic to identify changes and trends in travel insurance.
Squaremouth compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth's comparison engine and third-party customer reviews, travelers can research and compare travel insurance policies side-by-side. More information can be found at www.squaremouth.com.
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