The days of cheap pandemic-era travel are gone, with many land vacations costing more now than they did in 2019. According to data collected by InsureMyTrip, a vacation in the Bahamas this holiday season is costing policyholders nearly $1,300 more than it did in 2019. A holiday trip to Mexico is just over $1,800 more than in 2019.
The news is slightly rosier for clients heading to the Caribbean this holiday season. Insurance policies for Caribbean vacations are averaging about $5,853, which is about $1,100 less than the average Caribbean holiday vacation in 2019, though it’s $1,600 higher than it was last year.
While it’s unclear if the average price of these policies is driven solely by higher prices, or by consumers choosing to spend more after too much time at home, the news is good for travel advisors. Not only are advisors making more commission, but the opportunity to sell their clients on travel insurance has never been better.
“Travelers are paying more for vacations this holiday season, which means they have more to lose if they need to cancel or cut a trip short,” said InsureMyTrip director of product, Meghan Walch.