ST.
PETERSBURG, Fla., Aug. 1, 2024
/PRNewswire/ -- Far fewer travelers are planning Labor Day trips
this year, with 88% opting to stay home, according to customer
data* from travel insurance marketplace, Squaremouth.com.
The travel industry has struggled recently amid global flight
delays, increasing travel costs and a rocky start to hurricane
season, and travelers are feeling the effects.
Here are two Labor Day travel trends that offer a good
indication of how Americans are viewing travel this fall and how
travel insurance can help.
Trip Costs are Skyrocketing
This summer, over half of
Squaremouth travelers reported spending more compared to years
past, with the majority attributing the increase to inflation and
the rising cost of travel. Labor Day Weekend is proving no
different, with an average trip cost of $2,696 up a staggering 25% over last
year.
Protect Your Trip Investment: With trip
costs continuing to rise, it's even more important for travelers
with prepaid expenses to protect their financial investment in
their trip. Insuring the cost of your trip typically costs only
5-10% of your total trip cost and can cover up to 100% of your
prepaid expenses if you are prevented from taking your trip for
reasons, such as an illness, extreme weather, or delay of a travel
carrier.
Travel Delays are Top Concern
Of travelers opting to
take trips over the holiday weekend, the majority indicate concerns
over flight cancellations and delays, while only 24% are concerned
over heavy traffic and inclement weather.
Make Delays More Comfortable: While
there's no way to guarantee your flight will leave on time, travel
insurance can help protect you financially and make delays more
comfortable. Travel Delay coverage can refund meals and hotels
during a delay and may even cover the additional costs paid to
catch up to your destination.
*Squaremouth polled more than 2,000 customers regarding their
upcoming Labor Day travel plans to determine the current trends
among travelers buying travel insurance. The survey was sent to all
Squaremouth customers between 07/26/2024 and
08/1/2024.
About Squaremouth: Squaremouth.com has
insured over 3 million travelers. Using Squaremouth's intuitive
quoting and comparison engine, award-winning support team, and
verified customer reviews, travelers can save time and money to find
the best travel insurance policy for their trip.
Available Topic Expert: Jenna
Hummer is available for comment and interview.
jhummer@squaremouth.com
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SOURCE Squaremouth