WorldTrips Reports Higher Travel Insurance Demand as Trip Costs Rise

CARMEL, Ind., Dec. 12, 2022 /PRNewswire/ -- The latest customer data from WorldTrips shows an increasing number of travelers are spending more on vacations. The average cost for a 2023 trip to Europe is already around $8,817 — that's up from $4,684 in 2022.  Domestic trips also went up with the average cost at $7,878. This comes as the price for airline tickets, accommodations, and food and entertainment continue to rise worldwide. 

"The average trip cost trend in 2023 for popular U.S. tourist destinations is a stark reminder of the macro-economic trends directly impacting consumers," said Mark Carney, CEO of WorldTrips. "Buying a travel insurance plan that includes a trip cancellation benefit should be on all travelers' radar as they prepare for these more expensive trips in 2023."

Atlas Journey is travel protection designed for U.S. residents traveling domestically and abroad. Atlas Journey Economy, Preferred, and Premier base plans include trip cancellation, trip interruption, travel delay, emergency medical coverage, emergency medical evacuation, and baggage protection, in addition to 24/7 emergency travel assistance. Travelers can customize the amount of trip protection and enhance coverage with optional upgrades:

Trip Cancellation for Any Reason (CFAR) – 50% or 75% back for cancellation due to a non-covered reason (upgrade only available on Preferred and Premier plans)

Trip Interruption for Any Reason – interruption coverage for a non-covered reason (only available on Premier plan)

Destination Wedding – coverage in case destination wedding is canceled

Adventure Sports – extends coverage to include sports such as safari, bungee jumping, hang gliding, and more

Rental Car Damage and Theft – adds collision damage waiver, coverage for theft of rental vehicle

Medical Evacuation Hospital of Choice and Increased Maximum Benefit Limit – doubles medical evacuation coverage and offers evacuation to hospital of choice

Pet Care – adds cancellation coverage for death/critical illness of your dog or cat; vet care if traveling with you

Primary Coverage: Baggage Damage or Loss – doubles baggage and baggage delay coverage and makes baggage coverage primary

Vacation Rental Accommodations – interruption coverage if rental is unclean/overbooked or keys are lost

Additional Covered Events for Academics, Sporting Events, Volunteer and Mission Programs – adds cancellation coverage if student is required to take a test, school year is extended, or sporting event is scheduled

Travelers can visit WorldTrips.com to buy products in addition to obtaining destination-specific travel safety and security information.

Methodology: Data is gathered from travel insurance purchases for Atlas Journey plans made between January 1, 2022 – December 1, 2022.

Media Contact:Clay Coomer, WorldTrips
press@worldtrips.com 

WorldTrips is a full-service organization offering a comprehensive portfolio of travel medical and trip protection insurance products designed to address the insurance needs of travelers worldwide. WorldTrips is a member of the Tokio Marine HCC group of companies. For more information about WorldTrips, please visit WorldTrips.com.

In the State of California, operating as WorldTrips Insurance Services. California Non-Resident Producer License Number: 0G39705

WorldTrips' Atlas Journey, Atlas Cruiser, and Atlas On-The-Go trip protection insurance products are underwritten by Tokio Marine HCC's U.S. Specialty Insurance Company (USSIC). USSIC is a Texas-domiciled insurance company, based in Houston, operating on an admitted basis throughout the United States. Coverage is available to U.S. residents of the U.S. states and District of Columbia only. This plan provides insurance coverage that only applies during the covered trip. You may have coverage from other sources that provides you with similar benefits but may be subject to different restrictions depending upon your other coverages. You may wish to compare the terms of this policy with your existing life, health, home, and automobile insurance policies. Coverage may not be available in all states.

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SOURCE WorldTrips