New data reveals travelers who filed a travel insurance claim saved an average of $1,891 in 2022.
Squaremouth.com, the leading US travel insurance marketplace, reports that travelers spent an average of $266 per policy last year, and received an average reimbursement of $2,157 when filing a claim.
Claim payouts ranged drastically depending on the benefit, from an average of $213 to more than $80,000, exceeding the policy cost by 8 times on average.
Medical Evacuation Payouts Averaged More Than $80,000 in 2022
In 2022, the three highest travel insurance claim payouts came from medical evacuations, and canceled or interrupted trips.
- Cancellation claims reimbursed travelers $4,110 on average
- The highest paid claim was for a traveler who was medically evacuated, resulting in a payment over $223,000
Delays and Cancellations Account For Nearly Two Thirds of Paid Claims
Most travelers filed claims due to their trip being delayed or canceled.
- Travel Delay was the most commonly paid out claim in 2022 with 25%
- Pre-departure cancellations accounted for more than 21% of all paid claims last year
- One in five paid claims was related to a medical emergency
|Claim Type||Avg Claim||Highest Claim||% of Claims|
|Cancel For Any Reason||$1,592.35||$7,417.78||2.09%|
Methodology: Squaremouth analytics compared travel insurance claims data from Tin Leg between January 1 and December 31 of 2019 to 2022 to compare policy prices to claim payouts. Tin Leg is a travel insurance provider and member of The Squaremouth Group since 2014.
Notes to editors
Available Topic Expert: Megan Moncrief, President, is available for comment and interview. email@example.com (727) 378-0938
About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth’s intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.