NASHVILLE, Tenn. (WSMV) – In the last couple of years, people buying travel insurance for their vacations have skyrocketed.
It all started during the uncertainty of the covid pandemic but has quickly shifted to the recent active hurricane seasons we’ve been seeing, causing people to have to cancel their trips.
Since 2020, insurance companies and travel agencies have seen a significant spike in people adding travel insurance to their vacations. This summer, companies are reporting the most significant jump they’ve seen.
Travel agencies say the main benefit of travel insurance is to protect your money. This year, the average American will be spending nearly $3,000 on vacation — that’s 30% more than they paid in 2019, thanks to rising costs and inflation.
Officials added that a lot of people are adding it to their budget because they’re just ready to get back out again after putting trips on hold for two years during the pandemic; however, with so many recent natural disasters– especially hurricanes for beach-goers– the weather has been playing a significant factor.
Eight hurricanes made landfall last year, and 11 made landfall in 2020, which caused a lot of travelers to cancel their plans or have to change locations previous minute Just today, the National Weather Service issued a Tropical Storm Warning for south Florida for storm force winds, heavy downpours, and possible tornadoes ahead of Tropical Storm Alex.
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