Though most of us expect the holidays to be a busy travel time, 2023 could be one for the record books. According to a recent holiday travel survey conducted by Deloitte, nearly 50% of Americans plan to take a trip between Thanksgiving and the middle of January. And with well over 100 million people heading to airports and out on the roads during such a short period of time, delays and other travel issues are inevitable.
This could especially be the case at airports. A full 37% of surveyed travelers say they plan to take a flight this holiday season, and we all know the kind of ripple effect just a few delays can have on that level of passenger volume.
This demonstrates yet another reason why the right insurance is essential for your holiday travel.
Survey respondents indicated that they plan to spend an average of $2,725 on their holiday trips. A large portion of these costs will likely be paid in advance for airfare and hotels. These costs are usually nonrefundable. If a personal illness or family emergency forces you to cancel your trip this holiday season, you could get stuck paying for a vacation even if you have to stay at home.
Travel insurance can help. Trip cancellation coverage can see to it that you’re reimbursed for eligible prepaid, nonrefundable travel costs if you have to cancel your trip for a covered reason. Most plans can also offer coverage for things like travel delay, trip interruption, and lost baggage, reimbursing you for the significant additional expenses you can incur.
So, before you write off travel insurance as an unnecessary expense, consider how much you could stand to lose if your trip was cancelled, delayed, or cut short. A small investment in travel insurance could save you a significant amount of cash if your trip hits a snag. And if previous holiday travel seasons have taught us anything, snags are almost a sure thing.