“You never know”, “just in case”…
Since the health crisis and the cascading disappointments suffered by travelers who had booked their holidays and were ultimately unable to leave, serenity has not returned to people's minds. .
Anyway not yet.
Even though the pandemic seems behind us, a recent survey by Allianz Partners, a major player in travel insurance and assistance, reveals that more than 58% of young families now plan to make flexible travel reservations to cope to unforeseen circumstances.
Even more significant: the intention to take out travel insurance is up sharply in five major European markets (Belgium, Germany, France, Italy, United Kingdom), rising from 21% of travelers in 2019 to 55% in 2022 for international travel.
1800 euros is the average cost of the trip per person to be covered in the event of subscription to cancellation insurance.
Source: Philtr
In line with this growing demand for insurance, Allianz Partners recorded in 2022 the highest number of claims for reimbursement after departure.
Figures that reflect the increase in stressors facing travelers today.
“In addition to health concerns, travelers now have to deal with geopolitical upheaval, high inflation and wider economic uncertainties.
The result is a new attitude towards travel, where the demands for flexibility and protection against the unexpected are even greater,”
said Joe Mason, director of travel marketing at Allianz Partners.
Read also Canceled flight: how to get a refund for your plane ticket?
Secure your trip and your wallet
According to a recent study carried out in the United Kingdom, consumers would also be reassured to pay for more protection.
When three travel insurance packages are offered (e.g. gold, silver and bronze), the share of respondents opting for silver and gold packages has increased by 5 points compared to bronze since the pandemic.
This change in attitude towards travel insurance is also noted by the online comparator Philtr, which finds in 2022 that 20% of travelers who have taken out travel insurance on the platform also want cancellation insurance (compared to 17% in 2021) .
“We have also noticed an evolution in the duration of insured trips: relatively short trips in the first four months of 2022, then much longer at the end of the year, with a return of student internship type trips, studies abroad, working holiday program…”
explains David Dumont, CEO of Philtr.
