Covid forced 50% of Americans to cancel trips; 83% lost money as a result

 

A new survey by Forbes Advisor reveals the financial hits Americans took with their travel plans during the pandemic, and how despite these setbacks, most people are remaining hopeful for 2022 travel while still cautious of new variants.

A few of the survey highlights below:

• 50% of adult Americans have had to cancel a trip due to Covid-19, and of those who canceled trips, 83% lost money as a result
• Of those who lost money due to a canceled trip because of Covid-19, 76% lost between $500 - $3,000 
• 28% of Americans have already planned trips for 2022, and 31% have trips in mind
• 59% of Americans feel less fearful about international travel in 2022 than they did in 2021
• 70% have worries about Covid-19 variants affecting their travel plans this year
• 67% are more likely to buy travel insurance now compared to before the pandemic 
• 38% of those surveyed have purchased or plan to purchase travel insurance for a trip in 2022

Survey found that 50% of Americans believe that all travel insurance policies include Covid-related cancellation - an assumption that could result in a policy purchase that leads to a surprising claim denial, considering not all plans include Covid-related cancellation. Similarly, 44% of those surveyed believe all travel insurance plans provide medical coverage for Covid-19. While most plans do, some do not, so this could potentially result in a very costly mistake.

Tags: Forbes Advisor