Covid-19 Changed Everything About Travel Last Year, According to Travel Insurance Data

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Jan 08, 2021, 13:00 ET

ST. PETERSBURG, Fla., Jan. 8, 2021 /PRNewswire/ -- Almost one year following the onset of the Covid-19 pandemic, the travel landscape is still unrecognizable from years past. Using data from trips booked in 2020, travel insurance comparison website, Squaremouth.com, reports that almost everything about travel has changed.

Average Traveler Age Drops
Squaremouth reports the average age of their travelers has dropped, likely due to the high-risk nature of older travelers who contract Covid-19.

In 2019, the average traveler age was 50. By the end of 2020, this dropped to 38 due to a drastic dropoff in older travelers.
Prior to the Covid-19 pandemic, the Baby Boomer generation insured by far the most trips. Now, younger Gen Xers comprise the highest demographic.
Of their total travel share, Squaremouth reports growth in every age group under 60, while every age group over 60 saw a decline from last year.

Popular Destinations Make Caribbean Shift
Widespread international border closures have drastically changed where Americans are traveling.

Prior to Covid-19, international trips comprised 90% of all travel. In the 10 months following, this has dropped to 67%.
European countries once ruled travel bookings, comprising up to 45% of all trips. Following international travel bans, Americans are remaining closer to home, with European trips accounting for less than 10% of travel going into 2021.
Caribbean countries that remained open to US tourists skyrocketed in popularity. Of the 20 most popular international destinations post-Covid, seven are Caribbean islands.

Travelers Spend Less on Trips
Refundable bookings and other travel deals may contribute to the lower cost of travel following the Covid-19 pandemic. Squaremouth reports a steady decrease in trip costs being insured since January of last year.

Following the pandemic, the average trip cost being insured has dropped by 13%.
By the end of 2020, travelers were spending roughly $1,600 less on travel than in the months immediately preceding the pandemic.

Squaremouth maintains a large portfolio of travel insurance products that offer coverage related to the coronavirus 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 here.

Methodology: Data is based on travel insurance policies purchased through Squaremouth.com, comparing sales trends since the start of the Covid-19 pandemic to data from the immediate months and year prior.

ABOUT SQUAREMOUTH
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.

Available Topic Expert: Megan Moncrief [email protected] (727) 378-0938

SOURCE Squaremouth