Squaremouth’s 2012 U.S. Travel Trends Fact Sheet

Published by January 15, 2013

2012 Travel Insurance Outlook
- The overall cost of travel insurance increased nearly 1% since 2006
– In 2012, travelers spent an average of 5.5% of their total trip cost on travel insurance
– The average trip cost increased from $3,742.73 to $4,970.70
– Policy cost increased from $182.91 in 2006 to $276.42 in 2012 for products including trip cancellation coverage
– Trip length decreased from 17.92 days in 2006 to 14.8 days in 2012
– 60-70 year old travelers are the largest market, buying 22.66% of travel insurance in 2012
– California resident purchased the most travel insurance policies in 2012, at an average premium of $218.44

Average Annual Trip Cost for Travelers Purchasing Travel Insurance
2012 average trip cost: $4,970.70
2011 average trip cost: $5,050.07
2010 average trip cost: $4,776.17
2009 average trip cost: $4,417.76
2008 average trip cost: $4,804.86
2007 average trip cost: $4,410.10
2006 average trip cost: $3,742.73

Average Annual Premium for Travel Insurance
2012 average premium: $276.42
2011 average premium: $266.72
2010 average premium: $254.60
2009 average premium: $224.25
2008 average premium: $238.64
2007 average premium: $225.21
2006 average premium: $182.91

Average Annual Trip Length for Travelers Purchasing Travel Insurance
2012 average trip length: 14.8 days
2011 average trip length: 14.9 days
2010 average trip length: 15.23 days
2009 average trip length: 15.14 days
2008 average trip length: 15.24 days
2007 average trip length: 16.21 days
2006 average trip length: 17.92 days

Number of Travelers Per Travel Insurance Policy
46.17% of policies include one traveler with an average premium of $122.32
40.60% of policies include two travelers with an average premium of $293.64
5.26% of policies include three travelers with an average premium of $210.20
5.44% of policies include four  travelers with an average premium of $244.51
1.42% of policies include five travelers with an average premium of $280.72

Top 5 States whose Residents Buy Travel Insurance
1 – California residents account for 17.43% of sales with an average premium of $218.44
2 – New York residents account for 10.41% of sales with an average premium of $171.85
3 – Florida residents account for 6.58% of sales with an average premium of $234.01
4 – Texas residents account for 5.59% of sales with an average premium of $209.39
5 – Washington residents account for 4.2% of sales with an average premium of $214.35

Number of Policies Sold per Age Group in 2012
10-20 year olds account for 2.75% of sales with an average premium of $81.73
20-30 year olds account for 13.15% of sales with an average premium of  $93.65
30-40 year olds account for 16.08% of sales with an average premium of $113.73
40-50 year olds account for 14.57% of sales with an average premium of $165.07
50-60 year olds account for 20.05% of sales with an average premium of  $212.22
60-70 year olds account for 22.66% of sales with an average premium of $304.31
70-80 year olds account for 8.79% of sales with an average premium of $369.66
80-90 year olds account for 1.6% of sales with an average premium of $417.14
90-100 year olds account for 0.11% of sales with an average premium of $445.72

Number of Policies Sold per Age Group in 2011
10-20 year olds account for 2.8% of sales with an average premium of $109.00
20-30 year olds account for 12.34% of sales with an average premium of $101.95
30-40 year olds account for 15.06% of sales with an average premium of $124.34
40-50 year olds account for 15.03% of sales with an average premium of $181.23
50-60 year olds account for 20.93% of sales with an average premium of  $223.51
60-70 year olds account for 23.06% of sales with an average premium of $302.29
70-80 year olds account for 8.62% of sales with an average premium of $366.75
80-90 year olds account for 1.62% of sales with an average premium of $378.12
90-100 year olds account for 0.11% of sales with an average premium of $468.07

Number of Policies Sold per Age Group in 2010
10-20 year olds account for 3.25% of sales with an average premium of $118.53
20-30 year olds account for 13.99% of sales with an average premium of $113.59
30-40 year olds account for 14.87% of sales with an average premium of $126.70
40-50 year olds account for 14.91% of sales with an average premium of $170.97
50-60 year olds account for 20.47% of sales with an average premium of  $222.08
60-70 year olds account for 22.05% of sales with an average premium of $302.01
70-80 year olds account for 7.89% of sales with an average premium of $372.25
80-90 year olds account for 1.47% of sales with an average premium of $391.80
90-100 year olds account for 0.09% of sales with an average premium of $455.23

Number of Policies Sold per Age Group in 2009
10-20 year olds account for 7.17% of sales with an average premium of $99.69
20-30 year olds account for 15.52% of sales with an average premium of $111.43
30-40 year olds account for 16.19% of sales with an average premium of $117.93
40-50 year olds account for 15.31% of sales with an average premium of $161.12
50-60 year olds account for 20.46% of sales with an average premium of  $203.38
60-70 year olds account for 19.42% of sales with an average premium of $272.08
70-80 year olds account for 7.14% of sales with an average premium of $327.27
80-90 year olds account for 1.31% of sales with an average premium of $335.19
90-100 year olds account for 0.07% of sales with an average premium of $225.69

Number of Policies Sold per Age Group in 2008
10-20 year olds account for 3.06% of sales with an average premium of $97.19
20-30 year olds account for 16.63% of sales with an average premium of  $110.02
30-40 year olds account for 17.47% of sales with an average premium of $128.76
40-50 year olds account for 15.25% of sales with an average premium of $173.32
50-60 year olds account for 20.65% of sales with an average premium of  $222.06
60-70 year olds account for 17.04% of sales with an average premium of $307.03
70-80 year olds account for 6.87% of sales with an average premium of $329.40
80-90 year olds account for 1.38% of sales with an average premium of $391.22
90-100 year olds account for 0.14% of sales with an average premium of $441.01

Number of Policies Sold per Age Group in 2007
10-20 year olds account for 2.76% of sales with an average premium of $107.72
20-30 year olds account for 14.9% of sales with an average premium of  $102.07
30-40 year olds account for 16.15% of sales with an average premium of $135.86
40-50 year olds account for 15.82% of sales with an average premium of $164.82
50-60 year olds account for 20.86% of sales with an average premium of  $215.97
60-70 year olds account for 18.95% of sales with an average premium of $310.57
70-80 year olds account for 7.82% of sales with an average premium of $341.35
80-90 year olds account for 1.19% of sales with an average premium of $368.33
90-100 year olds account for 0.1% of sales with an average premium of $171.00

Number of Policies Sold per Age Group in 2006
10-20 year olds account for 3.34% of sales with an average premium of $92.25
20-30 year olds account for 16.65% of sales with an average premium of  $93.73
30-40 year olds account for 18.95% of sales with an average premium of $115.45
40-50 year olds account for 17.51% of sales with an average premium of $159.34
50-60 year olds account for 19.54% of sales with an average premium of  $186.12
60-70 year olds account for 15.09% of sales with an average premium of $264.09
70-80 year olds account for 6.33% of sales with an average premium of $310.48
80-90 year olds account for 1.56% of sales with an average premium of $463.77
90-100 year olds account for 0.08% of sales with an average premium of $246.18