After a sparse year for the travel industry in 2021, the Post Office has reported a soar in travel insurance sales, passing 2019 pre-pandemic rates. Not just an influence of travel taking off in the latter half of 2021, but a greater awareness for consumer protection and independent booking for consumers.
The “surge in demand” for travel now that restrictions are easing has taken great effect and seeing travel insurance sales not only reach but surpass pre-pandemic levels is excellent news and shows a great display of consumer confidence.
In the three weeks leading up to November 7th, the Post Office reported travel insurance sales were up 5% on the same period in 2019. This is also an increase of 651% in travel insurance sales in the same period in 2020.
In September 2021, the travel insurance sales were up 612% in May 2020, with sales in October up 560% on sales in May 2020.
The most popular region and destinations that consumers are buying travel insurance for are still “fairly consistent” with the past 3 years, bringing back the same demand that was there pre-covid, but even greater.
In this financial year, starting in April, travel to Europe accounts for 36% of travel insurance sales, travel to the rest of the world accounts for 35%, and travel within the UK accounts for 28% of sales (we advise you to check the Foreign Travel Advice page for entry restrictions on your chosen destination as this can affect what travel insurance you need).
“We are really pleased to see sales of travel insurance returning to pre-pandemic levels, following remarkable growth since the government relaxed restrictions on overseas travel,” said Ed Dutton, the Post Office product portfolio director for financial services.
“Notably, we saw rising sales later in the summer. Usually, they are falling at this point because growing numbers of people have already enjoyed their summer holiday.”
Ed Dutton also reminded consumers to ensure they purchase travel insurance as soon as they book to ensure complete protection for their booking and peace of mind. Whether it is stolen items, medical cover, or even cover for falling ill during Covid, travel insurance provides a lot of excellent protection for your holiday and we highly recommend always looking into it when you book.
The travel business you book with may be able to provide some assistance recommending what you should look for when purchasing travel insurance. If you would like to learn more about why you need travel insurance, and how to find good travel insurance for your holiday, you can also check out our articles.
So, when you’re ready to book a fantastic holiday, don’t forget to get in contact with a travel business registered with PTS providing 100% financial protection through trust. Or, if you’d like assistance choosing a PTS member to book with, you can contact PTS directly at 0207 190 9988.
And if you’d like to learn more about your consumer protection with PTS and how the Package Travel Regulations protect your holiday booking, check out our pages.