New research by Squaremouth has found that the more the average cost of US travellers’ trips increases, the more they look towards travel insurance for financial protection.
According to the US-based travel insurance comparison site, the average cost of a trip insured on its website in the past year was around $4,000. South Carolina spent, on average, the most on trips, with an average of $5,000, while Arkansas residents spent the least, with an average of $2,300, well below the national average. These figures represent the first time since 2013 that the average amount US residents spent per trip increased year-on-year, said Squaremouth.
The increase in spending on trips has also seen a widespread increase in the amount being spent on travel insurance by US travellers. According to Squaremouth, nine states saw a 30-per-cent year-on-year increase in travel insurance sales, with 46 states in total increasing the amount they spent. In Alaska, residents spent over 50 per cent more on travel insurance, the largest jump of any state in the past year, whereas residents from Oklahoma actually spent 10 per cent less.