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 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 ...
Holiday Gift Baskets
Holiday Gift Baskets
Flag cases are simple frames in which a folded flag can be held safely.
Flag cases are actually simple frames in which a folded flag can be held safely, like a picture in a photo frame. Flag cases are available in triangular frames in wood and glass or acrylic. All large retailers offer the choice of customizing the display case.
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.
Buying a Condo in Puerto Vallarta - Wise Investment Choice if You Get the Right Property
If you're new to the Puerto Vallarta Real Estate market, you may not realize that there are a number of opportunities available for you to make an investment in so that you can realize the rewards of buying real estate in one of the world's most beautiful locations.
Vacation Travel Trends for Arizona’s Top Leisure Destinations by Lodging Directory Rentalo.com
Consumer’s Trends on Hotels versus Vacation Rentals (http://rentalo.com/) Comparison Shopping, Vacation Planning, and Themes for Scottsdale, Tucson, Lake Havasu, Sedona, and Phoenix
Why Puerto Vallarta Condo is the Preferred Choice of Smart Investors
The Puerto Vallarta Real Estate market has been one of the most preferred areas of Mexico in the past few years. The real estate in Puerto Vallarta has seen strong demand even in tough economic conditions basically because of wide choice of investment options like beach front condos, vacation rental condos, rentals villas and lots.
Puerto Vallarta Commercial Property is Key to Real Estate Boom
When you think of Puerto Vallarta Real Estate, you may think of the lovely homes and well-appointed vacation villas that have been housing residents and visitors for years. While these Puerto Vallarta vacation homes are an important part of the real estate scene, Puerto Vallarta commercial property is also an essential part of this beautiful destination.
Travel Acquisitions Group Announces Strategic Realignment
Creation of Travel Leaders Corporate Division Led by David Holyoke; TAG-Owned Leisure Operations Consolidated under Tom Baumann; Travel Leaders Franchisees Remain under Roger E. Block, CTC
Who Buys Travel Insurance? Squaremouth Releases Statistics on Travel Insurance Purchases
Leading Travel Insurance Comparison Site Reveals that California, New York, Florida, Texas and New Jersey residents are Top Travel Insurance Purchasers
Benefits of Spending Holidays at Puerto Vallarta
Puerto Vallarta falls under the category of one of the most beautiful holiday spots on this planet. This place is very much unique and once a person visits this place, he would not be able to forget the experience of Puerto Vallarta for his whole life and he would surely like to come here again for spending the next holidays with friends or family. There are loads of activities that a person can get himself indulged into while spending his time in Puerto Vallarta. Puerto Vallarta spa is famous all over the world and many celebrities come to this place for the worldly famous spa available at this place.
Shopping for Cruises Online! How?
Are you planning a cruise vacation but don't know where to start? Have you shopped for a cruise vacation? How did you accomplish your shopping? Did you do your shopping for cruises online? Were you successful in getting the best cruise vacation for you?I could continue with questions regarding cruise shopping and in particular on-line cruise shopping. But that would not accomplish much without some answers to some nagging questions:1.
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.
7 Reasons to Spend Your Holidays in a Puerto Vallarta Villa
If you are planning to go to Puerto Vallarta, Mexico for your next vacations then renting a Vacation villa for your stay will be the wisest decision. Puerto Vallarta has large number of villas that are open to rental for tourists. One can easily find Puerto Vallarta Vacation Rental villa through various websites, where you can search for a villa best suited to your budget and requirements. Rental Villas in Puerto Vallarta offer luxury and space at a price that cannot be matched by cramped and overprices hotels.
Tourism to boost Puerto Vallarta Real Estate Market
This summer gave the Puerto Vallarta Real Estate industry a big reason to cheer. The tourism sector in Puerto Vallarta reported strong numbers with national tourists this summer. The industry is hoping a similar performance with international tourists this winter. The local government authorities have in recent times stressed on a sustainable development model which protects the ecology and nature which is the main attraction of Puerto Vallarta.
