In 2017, the average cost of a trip that travelers insured
was lower than the year before, which could indicate that awareness of
travel insurance has grown.
Generali Global Assistance (formerly CSA Travel Protection)
found that in 2017, the average cost of an insured trip was $1,883, 19% lower
than in 2016. The average premium declined to $139 per trip.
"As travel insurance and its myriad benefits become
better understood, people are choosing to insure trips at a lower price point
than they did in the past," CEO Chris Carnicelli said in a statement. "This
is encouraging to see as we, and the industry at large, have placed greater
emphasis on transparency to clear up misconceptions that surround travel
In reviewing 2017, Generali also found that the average
number of people on each insurance plan sold, 1.75, remained the same as it was
in 2016. Trip length was also unchanged at nine days. The time between trip
purchase and departure dropped seven days to 81.
Generali also found little change in the vacation rental
space, one of the company's insurance specialties. The average duration of a
trip was six days, unchanged from 2016, and total trip costs increased about
4%, which Generali said is in line with average rental fee increases. The
number of days between purchase and departure rose from 86 to 89, however,
unlike with general travel.
According to Carcinelli, the number of claims Generali saw
in 2017 increased by 78%, which he attributed to the number of natural
disasters and man-caused, travel-disrupting events that occurred in 2017.