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Protect Your Vacation Investment with Travel Insurance

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Some travelers are fortunate enough to hit the road often. Others once a year, and still others have to save for a few years to be able to afford the vacation of their dreams. Vacations can cost several thousand dollars and are a huge investment for many.

No matter what type of traveler you are or how often you travel, the financial investment that comes with a vacation should be protected in case your trip needs to be cancelled due to illness or injury, or another unexpected situation occurs. Each vacation should be planned with peace of mind knowing your travel insurance will reimburse prepaid deposit and expenses if necessary.

Travel insurance comes to the rescue in the case of a medical emergency while traveling. Travel insurance will pay to have you transported to the closest medical facility during your vacation. Travel insurance from Allianz Global Assistance provides the peace of mind travelers need.

Allianz Travel Insurance is the travel insurance brand of Allianz Global Assistance USA, and protects the financial vacation investment of its customers in the event that an insured trip needs to be cancelled or interrupted for unforeseen circumstances that are covered by the policy.

With offices in 34 countries, Allianz Global Assistance is a worldwide provider of travel insurance and one of the world’s largest financial service companies. In the United States, Allianz Global Assistance insures 21 million customers each year.

Allianz Travel Insurance can be purchased through many leading travel agents, most US airlines, online travel agencies (OTAs) and other well-known travel suppliers, and online at www.allianztravelinsurance.com.

#TravelHappy with Allianz Travel Insurance

Allianz Global Assistance has produced the Allianz Travel Insurance Vacation Confidence Index for seven consecutive years. The survey tracks American’s confidence they’ll be able to take a summer vacation and reports how much they intend to spend while vacationing.

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The 2016 survey, released in late June, found that while fewer Americans will take a summer vacation in 2016, they’ll Spend 11% more than last year. Last year’s survey found that more Americans were planning to take a summer vacation in 2015 and planned to spend less.

Vacation Confidence Index 2016 Results:

Summer 2016 Vacation Spend Jumps $5 Billion to Reach $90 Million

Allianz Travel Insurance’s Vacation Confidence Index Reveals That While Fewer Americans Will Take a Summer Vacation in 2016, They’ll Spend 11% More Than Last Year

·         Fewer Americans will travel, but spend more, on summer vacations, according to the seventh annual Allianz Travel Insurance “Vacation Confidence Index”

·         The amount of money Americans will spend on their vacation, on average, has increased significantly, according to the survey. The average American household that is at least somewhat confident they will take a vacation this summer will spend $1798 on average, up roughly 11 percent from last year’s average of $1621 per household. The total projected spend for Americans on summer vacations in 2016 is $89.9 billion, up from $85.5 billion in 2015.

·         The survey, which tracks Americans’ confidence that they will be able to take a summer vacation and reports how much they intend to spend while vacationing, revealed that while half (50 percent, down one point since last year) of Americans are confident (36 percent very/14 percent somewhat) they’ll take a vacation in 2016, four in ten (39 percent, up three points) are not confident (26 percent not at all/12 percent not very). One in 10 (10 percent, no change) have already taken a vacation this year while less than one percent (down three points from last year) are unsure.

·         Even though the proportion of Americans who remain confident that they’ll take a vacation in 2016 is holding steady, the survey found a rising proportion of Americans (65 percent) who say that taking an annual vacation is important to them (36 percent very/29 percent somewhat), up a significant eight points since last year and rebounding to levels last recorded in 2010.

·         Allianz Travel Insurance’s Vacation Confidence Index also found an increase in the Vacation Deficit, or percentage of Americans who think that a vacation is important but are not confident they’ll be able to take one. In 2016, nearly one quarter (22 percent) of Americans who say an annual vacation is important to them are not confident that they’ll take a vacation, compared to nearly one in five (19 percent) in 2015, representing a Vacation Deficit increase of three points, the first increase since dropping five points between 2013 and 2015.

·         Americans are facing a Vacation Deficit for summer specific travel as well: one in three (34 percent) Americans are not confident that they’ll take a summer vacation this year, an increase in three points over 2015. Four in ten (43 percent) are confident (32 percent very/11 percent somewhat) that they’ll get a summer vacation this year, down from 46 percent last year, which was the highest figure recorded since 2010.

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Sharing Economy Results:

Allianz Travel Insurance Sharing Economy Index Reveals Twice as Many Americans to Use Hybrid Market for Summer Travel in 2016

Familiarity and Trust Boosts Non-Conventional and On-Demand Travel Services Airbnb, Uber, and Lyft for Value and Local Experience

·         The analysis found that one in three Americans (36 percent) say they are likely to use sharing economy services such as AirBnB, HomeAway, Uber or Lyft during their summer vacation this year. This is up from last year when just 17 percent of Americans said they were likely to use these services.

·         Millennials continue to lead the sharing economy trend with 65 percent aged 18-34 saying they are likely to use these services compared to the 33 percent aged 35-54 and the 14 percent aged 55 or over.

·         The survey found that this growth is the result of expanded familiarity and trust in the services. American millennials continue to increase in familiarity with 86 percent saying they are aware of the sharing economy services offered compared to the 67 percent aged 35-54 and the 49 percent aged 55 or over.

·         America is becoming more aware of the variety of sharing economy services on offer with Uber topping the list with 62 percent of Americans saying they are familiar with the service (up 27 points from 2015).

·         Sharing economy services including Uber, AirBnB, Lyft, HomeAway, GetAround and Feastly all experienced growth in familiarity.

·         With greater awareness also comes increased trust. The survey showed that 48 percent of Americans find sharing economy services to be trustworthy, up four points from 2015.

·         More Americans are utilizing the sharing economy for value and authentic local experience.

·         Americans still prefer traditional services such as online services like Expedia.com, using a travel agent, or booking directly with a hotel, restaurant or hire car service, but they are becoming less decisive on preferred service for a better experience.  Over the last year, the amount of Americans that don’t know whether traditional or sharing economy services provide the better experience has doubled.

Visit the Allianz Global Assistance Website: www.allianztravelinsurance.com

Follow Allianz Travel Insurance on Twitter: @AllianzTravelUS

#TravelHappy with Allianz Travel Insurance

Thanks to Allianz Travel Insurance for sponsoring this post, providing travel coverage for the unexpected. An Open Suitcase received financial compensation from Allianz Global Assistance (AGA Service Company).

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