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U.S Travel Insurance Outlook – 2012

2012 TRAVEL INSURANCE OUTLOOK In 2012, travelers spent an average of 5.5% of their total trip cost on travel insurance The overall cost of travel insurance increased nearly 1% since 2006 The average trip cost increased from $4,804.86 in 2008 to $4.970.70 in 2012 caseneao Policy cost increased from $238.64 in 2008 to $276.42 in 2012 for products including the coverage of trip cancellation Trip duration decreased from 15.24 days in 2008 to 14.8 days in 2012 60-70 year old travelers are the largest market, buying 22.66% of travel insurance in 2012 California residents purchased the most travel insurance policies in 2012, at an average premium of $218.44 TRENDS SEEN AMONG THE TRAVELERS PURCHASING TRAVEL INSURANCE Average Annual Trip Cost $4,970.70 $5,050.07 $4,776.17 $4,804.86 $4,417.76 2008 2009 2010 2011 2012 2012: $4,970.70 2010: $4,776.17 2008: $4,804.86 2011: $5.050.07 2009: $4,417.76 Average Annual Premium for Travel Insurance $276.42 $266.72 $254.60 $224.25 $238.64 2012 2011 2010 2009 2008 AVERAGE ANNUAL TRIP LENGTH 14.8 days 14.9 days 15.23 days 15.14 days 15.24 days 2012 2011 2010 2009 2008 NUMBER OF TRAVELERS PER TRAVEL INSURANCE POLICY 46.17% 100 Average Premium $122.32 Percentage of Policies Traveler(s): 1 40.60% 100 Average Premium $293.64 Percentage of Policies Traveler(s): 2 5.26% 100 Average Premium $210.20 Percentage of Policies Traveler(s): 3 TRAVEL INSURANCE 100 5.44% Average Premium $244.51 Percentage of Policies Traveler(s): 4 1.42% 100 Average Premium $280.72 Percentage of Policies Traveler(s): 5 TOP 5 STATES AND THE PERCENTAGE OF SALES ACCOUNTED BY THE RESIDENTS BUYING TRAVEL INSURANCE State Sales Average premium 17.43% 100 CALIFORNIA | $218.44 10.41% 100 NEW YORK | $171.85 6.58% 100 | $234.01 FLORIDA 5.59% 100 TEXAS | $209.39 4.2% 100 WASHINGTON | $214.35 NUMBER OF POLICIES SOLD PER AGE GROUP IN 2012 Age Group Sales% Average premium 10-20 2.75% $81.73 20-30 13.15% $93.65 30-40 16.08% $113.73 40-50 14.57% $165.07 50-60 20.05% $212.22 60-70 22.66% $304.31 70-80 8.79% $369.66 80-90 01.6% $417.14 90-100 00.11% $445.72 Source: TheTravelersBlog.com http://blogs.squaremouth.com/press-room/squaremouths-2012-u-s-travel-trends-fact-sheet/

U.S Travel Insurance Outlook – 2012

shared by Samanthawilliams on Jun 27
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This infographic reflects on the trends in travel insurance sales while also providing information on the average costs spent on travel insurance plans.

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Travel
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