Puerto Vallarta - Beaches, Hotels, Villa Rentals, Resorts
Who Buys Travel Insurance? Squaremouth Releases Statistics on Travel Insurance Purchases
St. Pete Beach, FL (PRWEB) September 24, 2007 -- Squaremouth, a leading online travel insurance (http://www.squaremouth.com) comparison site, today releases national statistics about who purchases travel insurance products. Analysis of Squaremouth's sales data reveals trends in the following categories: time of purchase; top states with residents purchasing travel insurance; travel destination; spending patterns compared between domestic and international; trip duration; trip cost; number of travelers; and consumers' ages.
The data contained in this report is intended to provide an overview of current and historical travel and travel insurance market trends, according to Squaremouth.com's CEO Chris Harvey.
Data is provided by the comparison engine Squaremouth.com and covers four years of sales statistics dating back to March 2003. Sales from 17 travel insurance carriers are represented with more than 250 products covering every type of travel insurance policy available for purchase.
This report is updated every quarter and can be found at:
Harvey says an interesting finding after analyzing several sales data components is that the largest percentage of people purchasing travel insurance are single travelers. He also stated that data revealed that travel insurance policies, on average, were less expensive for three and four travelers compared to two people traveling.
"One reason for multiple travelers' policies costing less could be attributed to trip duration and cost," Harvey explains. "Couples, particularly those who are retired, tend to have more disposable income and are taking more expensive trips."
This concept is also supported by the statistic that those travelers 50 years old and above pay nearly twice the amount for a travel insurance policy than those under 50, he adds.
Travelers with foreign trips purchase travel insurance nearly eight times more often than those traveling domestically. "Medical coverage is probably the biggest driver when purchasing travel insurance for international travels in my experience. Many U.S. health insurance policies do not cover the policy holder while abroad."
In terms of demographics, Harvey says that California, New York and Florida represent the top three states in terms of travel insurance purchases, California has by far the highest spending residents compared to others and that Mississippi residents are, on average paying the most per policy.
Following are the data findings for Squaremouth.com's analysis:
Breakdown by Hour of day of travel insurance purchases
85% of sales occur between 9:00AM and 7:00PM EST
Vast majority of people buy travel insurance during office hours
Breakdown by Resident State of travelers who also buy travel insurance
1. California residents account for 17.28% of sales with an average per policy premium of $192.72
2. New York residents account for 9.29% of sales with an average per policy premium of $152.05
3. Florida residents account for 6.94% of sales with an average per policy premium of $204.74
4. Texas accounts for 4.46% of sales with an average per policy premium of $174.39
5. New Jersey accounts for 3.58% of sales with an average per policy premium of $183.82
Another key finding: Mississippi residents spend the most on average at $227.11 per policy premium
Destination of Travelers Who Buy Travel Insurance
Domestic travel accounts for 11.97% of sales with an average per policy premium of $126.18
Foreign travel accounts for 88.03% of sales with an average per policy premium of $166.82
European travel accounts for 30% of sales with an average per policy premium of $172.00
Highest average per policy premium is for world cruises with an average of $2,825.00
Foreign vs. Domestic Travel as a Percentage
Americans who buy travel insurance for domestic trips spend 5.46% of their trip cost on travel insurance
Americans who buy travel insurance for foreign trips spend 5.67% of their trip cost on travel insurance
Foreign vs. Domestic Travel Comparing Trip Length
Average trip length for domestic trips is 10.18 days
Average trip length for foreign trips is 16.34 days
Foreign vs. Domestic Travel Comparing Trip Cost
Average trip cost for foreign travel is $2,945.03
Average trip cost for domestic travel is $2,312.41
Number of Travelers Per Travel Insurance Policy
44.22% of policies purchased are for a single traveler with an average per policy premium of $102.37
39.76% are for two people with an average per policy premium of $225.12
5.97% are for three people with an average per policy premium of $187.79
6.79% are for four people with an average per policy premium of $215.95
1.78% are for five people with an average per policy premium of $242.00
Breakdown by Age of Travel Insurance Purchasers
20-30 year olds account for 15.6% of sales with an average per policy premium of $95.43
30-40 year olds account for 18.34% of sales with an average per policy premium of $114.24
40-50 year olds account for 18.29% of sales with an average per policy premium of $150.18
50-60 year olds account for 20.77% of sales with an average per policy premium of $185.44
60-70 year olds account for 15.21%% of sales with an average per policy premium of $264.89
Over 70 year olds account for 7.69% of sales with an average per policy premium of $311.97
Under 50's spend an average of $120.85 per policy premium
Over 50's Spend an average of $235.39 per policy premium
Travel Insurance Providers Represented in the Data:
Access America, AIG Travel Guard (http://www.squaremouth.com/travel-insurance/information/aig-travel-guard-travel-insurance.html), CSA (http://www.squaremouth.com/travel-insurance/information/csa-travel-protection-travel-insurance.html), Global Alert Admin, Global Underwriters, HTH Worldwide (http://www.squaremouth.com/travel-insurance/information/hth-worldwide-travel-insurance.html), ITravel Insured, Medex, Medjet Assist, MH Ross, Multinational Underwriters (MNU), Seven Corners, Travel Insured (http://www.squaremouth.com/travel-insurance/information/travel-insured-international-travel-insurance.html), Travelers Liberty, Travelex (http://www.squaremouth.com/travel-insurance/information/travelex-travel-insurance.html), TravelSafe, USA Assist.
"Squaremouth's data represents a snapshot of the entire travel insurance industry," Harvey says. "This data can be relied upon as it is four years of data analyzing practically every third party travel insurance provider and available product."
Squaremouth does not favor any third party travel insurance (http://www.squaremouth.com) partner over another, nor does the company target one specific travel niche such as retired or adventure travel. Additionally, when a customer is reviewing policies, they are comparing apples to apples as product information is standardized, Harvey adds.
More detailed information and data relating to specific or niche requests are available upon request. To learn more about Squaremouth, please visit www.squaremouth.com.
About Squaremouth:
Founded in 2001, Squaremouth.com helps travelers easily and instantly compare all the major travel insurance plans. To ensure customer satisfaction, all carriers are handpicked based on an internal rating system and also ratings from insurance industry watchdog AM Best. Only companies that meet Squaremouth's strict requirements make it into the system. Along with its unique research capabilities and zero complaint guarantee, the site provides instant quotes, immediate purchase and instant confirmation. Visit www.squaremouth.com for more information.
Contact
Chris Harvey
Squaremouth.com
Toll Free (800) 240-0369
Direct Line (727) 490-5802
US Travel Insurance - http://www.squaremouth.com
US International Medical Insurance - http://www.squaremouth.com/visitors-insurance
UK Travel Insurance - http://www.squaremouth.co.uk
###
MORE ARTICLES:
Puerto Vallarta - A Hottest Destination in the Mexico Real Estate Market
If you've ever considered getting involved in the, Mexico Real Estate market Puerto Vallarta may be the best choice of location. With its sparkling waters and relaxing beaches, Puerto Vallarta is one of Mexico's top vacation destinations. For people who want to spend their time relaxing, Puerto Vallarta also offers opportunities for spa treatments and other services that will help vacationers relax and enjoy the beauty of this beach destination.
Puerto Vallarta more Secure and Safer then ever
Safety and security of any city determines its reputation. A city with strong, friendly and committed police sends positive signal not only to the tourists and residents but also the investors who infuse capital into a city. Hence, it can be safely said that a city's economic prosperity depends on its ability to provide security to its citizens and business community.
All The Spicy Sports Of Puerto Vallarta
Since Puerto Vallarta is the hub of tourism, several national and international sports competitions are held around the area of the Banderas Bay. Who would’ve thought that Puerto Vallarta, which is popular as a scenic resort could hold so many delightful activities in its pockets. The events that take place in Puerto Vallarta are abundant but unfortunately not many tourists are able to utilize this wonderful opportunity. All you need to do is check the flyers for the upcoming events and Viola! There you have; a never ending list of events that will blow your mind away. From girls' softball leagues to aerobics to martial arts classes, all are available here in Puerto Vallarta.
The Weather Channel and AOL Announce New AOL UK Weather Web Site
New Web site will feature expanded weather information including new maps and the ability to check weather conditions across the globe
Puerto Vallarta Property for Sale - Golden Investment Opportunity
Are you thinking about investing your retirement savings in some Puerto Vallarta Investment Real Estate? If so then you should strongly consider investing in Puerto Vallarta properties offered by Realty Executives Costa Vallarta. Puerto Vallarta as a destination offers a deal that can be matched by very few cities all over the world. Puerto Vallarta is blessed with a tropical climate and scenic natural beauty. Its sandy white beaches, lush flora and fauna, old world charm and world class golf, Puerto Vallarta offers everything to everybody.
Travel codes and coupons
There are huge savings to be made online, with travel codes and coupons reducing the cost of flights and accommodation the world over. Websites such as Expedia online offer discounts on airfares, hotels, rental cars, cruises and much more. Expedia deals could save you hundreds of pounds when booking your travel and accommodation online, making your holiday even more enjoyable.
How to Enjoy Puerto Vallarta Vacations
If you're looking for the perfect holiday destination south of US, then Puerto Vallarta, Mexico fits the bill. Puerto Vallarta has lot to offer for virtually every cross-section of travelers, be it a family with kids, couple on honeymoon, retired citizens or students on lookout for fun, luxury tourists or backpackers on budget. Puerto Vallarta has something for everybody – adventure, ecotourism, golf, fine dining restaurants, street food stalls serving eclectic dishes, canopy tours in rainforests and the magnificent Sierra Madre Mountains. We will give you 5 reasons on why you Puerto Vallarta should be your next vacation destination.
The Dreams To See & Leno Morfin In Puerto Vallarta
Oscar Wilde once said “All art is quite useless,” but that statement was part of the aesthetic movement in Literature which he was a salient figure of. Art is not actually ‘useless’ it is rather useful because it provides a sense of escape from the dreary monotony of life. Therefore it is most important to understand and admire art since it shows a portal to our lives that we are alienated from.
Puerto Vallarta Real Estate Picks up Ahead of Pan American Games
Whenever a city hosts a major sporting event, the local economy is injected with a new lease of life. All major economic growth drivers get a boost due to infrastructure related activities and tourism ahead of and during the event. Tourism is one industry which specifically benefits from the any sporting event. Athletic teams, their entourage, world press and spectators all help in increasing the inflow of tourists. Also, due to huge amount of press exposure, a buzz and awareness is created about the city which helps in attracting the tourism in no small way. Also, newer hotels & resorts, improvement in facilities & amenities make a city attractive for discerning world travelers. Puerto Vallarta will be no different, now that, it will be a ...
The Latest Fred. Olsen Cruise Launches
The newest cruise programme launches from Fred. Olsen. This includes the second programme of their popular Civilisations cruises and a new Fly/Cruise programme from Rome.
Puerto Al Mar: Your ticket to hi end living and revenue
On Camarones Beach just a few distance away from the Malecon in downtown Puerto Vallarta a beautiful city in Mexico, rises Puerto al Mar, the new boutique-style luxury condominium development designed by renowned Architect Jose Francisco Gomez.
Villa Highlights The Growing Trend Of Product
Concentration of heavy volume face, and macro-control double "pressure", Beijing villa market products "escape" occurred almost uninterruptedly. Townhouse, small single-family, original villa, Chinese villa, upgraded version of a small single-family, a clear interpretation of the product changes in recent years in the special context of the path changes in Beijing Villa's products, especially the recent emergence of the finished villa, more that was considered a breakthrough tool for developers.
Trends for New Jersey's Coast Vacation Destinations by Worldwide Vacation Lodging Directory Rentalo.com
Vacation Rentals () Versus Hotels Comparison Shopping Trends, Vacation Planning Trends, and Vacation Themes Trends for New Jersey Coast’s Top Vacation Destinations
The Arty Puerto Vallarta
Puerto Vallarta, like any other culturally rich place is full of art, beauty and poise. Some of the critics even term Puerto Vallarta as the Heart of Mexico. Puerto Vallarta has seen such magnanimous growth over the past five years that it makes you just applaud their efforts. Not only is Puerto Vallarta naturally beautiful, but it is also enriched with art. More than 30 art galleries have been opened all the way through downtown, Marina Vallarta and Vallarta's South Shore. Almost everyday there is an electrifying art show or festival held in Puerto Vallarta. What is most exciting is the fact that most of the festivals pertaining to art in Puerto Vallarta are free and open to general public. This not only makes art accessible to the locals ...
Puerto Vallarta: The City of Festivals
After Puerto Vallarta found its way onto the international tourism map following the release of ?The Night of the Iguana,? the city became a meeting place for artists, musicians and anyone seeking a cosmopolitan destination amongst incredible natural beauty As a result, numerous festivals have developed in Puerto Vallarta, celebrating everything from independent film to haute cuisine
