Squaremouth reveals emerging mid-summer travel insurance trends

As the peak summer travel season continues, US travel insurance marketplace Squaremouth has shared its insights into the evolving trends shaping travellers’ insurance purchases in 2023. The data reveals that a growing number of travellers are prioritising health coverage, preparing for unpredictable weather, and seeking insurance for adventurous excursions.

1. Health-related coverage takes centre stage

With international travel on the rise, US travellers are becoming increasingly aware of the need for robust medical coverage. Squaremouth reports that four out of the five most requested travel insurance benefits are health related. This trend aligns with the US Department of State’s advisory urging all travellers to secure travel health insurance, as domestic healthcare plans are often not accepted abroad. Without adequate coverage, travellers could face significant out-of-pocket expenses and challenges accessing medical care. Emergency medical insurance, which ensures that unexpected medical costs abroad are covered, has therefore become a priority for many.

2. Hurricane and weather insurance searches surge by 39%

The threat of hurricanes and severe weather is top of mind for many travellers this year. Searches for hurricane- and weather-related travel insurance have spiked by 39% compared with the same period last year. The early naming of Tropical Storm Erin, which is expected to develop into the season’s first Atlantic hurricane, has further highlighted the importance of timely insurance coverage. Travellers are increasingly aware that, to be eligible for hurricane-related benefits, they must purchase coverage before a storm is officially named. Early investment in hurricane and weather insurance can help secure reimbursements for non-refundable travel costs if a storm derails plans.

3. Adventure travel insurance sees 10% uptick

Adventure travel is also gaining traction, with searches for insurance related to activities like snorkelling, skiing, and safaris rising by 10%. While many standard travel insurance policies exclude coverage for high-risk activities, Squaremouth noted that specialised plans are available for those looking to protect their adventure-filled trips. These plans provide peace of mind for thrill-seekers, ensuring they are covered in the event of an accident or cancellation.

Amid rising holiday costs, new research from AllClear highlights a surge in UK travellers cutting back on travel insurance, posing serious risks, especially for those with medical conditions.