A market study published by the European Travel Commission, which analyzes the effect of the pandemic on travellers’ attitudes and expectations, amongst others, shows that travellers are now more open to taking out travel insurance in order to mitigate potential financial losses.
The report, named “Exploring Consumer Travel Attitudes and Expectations to Drive Tourism Recovery”, has been developed based on in-depth interviews with consumers from the top European markets – France, Germany, Italy, the Netherlands and the United Kingdom, as well as long-haul markets – Australia and the United States.
“The third-largest aspect affected by the pandemic is the need to take out travel insurance. Some interviewees have become risk-averse regarding the impact of unforeseen or sudden changes prior to and during their holiday and would like to mitigate a potential financial loss with travel insurance,” the report reads.
Commenting on the way the pandemic has made them more aware regarding travel insurance, the respondents participating in the study claim that since the outbreak of COVID-19, they are more likely to read what their insurance covers in order to be correctly and fully insured.
“It made me think about where I want to travel a lot more, if I have the correct insurance, and if I am fully insured. I will be reading up on what is allowed with my insurance,” a British non-international traveller said.
Whereas a French non-international traveller pointed out that he had “never thought about taking a cancelling insurance,” adding that now he would “in case the flight or hotel reservation gets cancelled,”.
According to the report, due to the pandemic, travellers now prefer to travel more locally or close to their home country so that in case there is a problem, they will be able to return home faster and easier. They are also more aware of the importance of planning solutions for possible hurdles that they may encounter during a trip. travelers insurance
“I will plan more now before travelling and get insurance covering COVID-19. I will also travel more in my own country to less populated areas,” an Australian traveller said.
The report also reveals that 80 per cent of respondents consider vacationing this summer in a European destination. These travellers hope that the already removed entry restrictions will not be reinstated and that the European countries will not impose new measures on travellers. Yet, they still believe that these destinations must preserve enhanced hygiene standards.