[ad_1]
Warwick, Re, March 20, 2023 /PRNewswire/ — Americans of all ages travel, but different age groups have different interests, needs and concerns when it comes to vacationing. So, InsureMyTrip analyzed the travel habits of policyholders across four age groups using data from the past three years.
- Baby Boomers: 58-76
- Generation X: 46-57
- Millennium: 27-45
- Generation: 6-26
According to the findings, travelers in each age group have different spending habits, are visiting different destinations and are purchasing travel insurance at different prices.
Top international destinations by age group
All four generations seem to love harmony. Mexico It is one of the cheapest vacations with an average travel price. 3,323 dollars. However, Boomers and Gen X are willing to go a little further on trips. Italy (Avg 6,984 dollars).
Baby boomer:
- Mexico
- Italy
- united kingdom
General X:
- Mexico
- Bahamas
- Italy
Millennium:
- Mexico
- Costa Rica
- Bahamas
General Z:
- Mexico
- Costa Rica
- united kingdom
Average travel cost by age group
This should come as no surprise, but baby boomers spend more time on vacation than any other generation — especially Gen Z.
Baby boomer: 6,126 dollars
General X: 5,060 dollars
Millennium: 4,141 dollars
General Z: 2,788 dollars
The average number of travelers in Age range
Gen Z in the new generation have only one passenger named on the policy while other generations buy plans for at least two passengers.
Baby boomertwo (2)
General Xtwo (2)
Millenniumtwo (2)
General Z: one (1)
Percentage of travel insurance policies purchased by age group
Older Americans and millennials appear to be more amenable to purchasing travel insurance.
Baby boomer: 39%
General X: 23%
Millennium: 26%
General Z: 7%
Why should you consider travel insurance at any age?
A common misconception about travel insurance is for older Americans. However, the policy can be equally beneficial to Boomers and Gen Zers.
Here are two important travel insurance benefits that travelers can enjoy. At all ages You may want to consider:
- Emergency treatment: This cover is key for those traveling abroad. Most domestic health insurance plans do not cover medical expenses abroad.
- Cancel for any reason: An additional/optional benefit gives travelers the ability to cancel a trip for any reason other than a covered reason (eg, panic). There are eligibility requirements, but if those are met, if you cancel your lease 48 hours before departure, you may be reimbursed 50%-75% of insurance, prepayment and non-refundable travel costs.
Travelers can compare plans at InsureMyTrip.com. Comprehensive travel insurance plans offer robust key benefits including trip cancellation, emergency medical cover, emergency medical evacuation, trip interruption, trip delay, baggage cover and 24-hour non-refundable travel expenses including flights and accommodation. / 7 emergency assistance. Typically, these plans run 4-8 percent of the total travel cost.
Media Contact:
For example, Meghan
[email protected]
*Method: InsureMyTrip analyzed travel insurance policies sold for trips between them January 1, 2020 – December 31, 2023 Generation age ranges defined by InsureMyTrip data group.
About InsureMyTrip
It’s simple. InsureMyTrip will find you the right travel insurance plan every time. InsureMyTrip is the authority on travel insurance. We are dedicated to empowering travelers to make the best insurance decisions using our technology, data and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.
Source: InsureMyTrip
[ad_2]
Source link
