Rising Travel Costs Led to a Big Shift in Travel Insurance Payouts in 2024

ST. PETERSBURG, Fla., Jan. 29, 2025 (GLOBE NEWSWIRE) -- As travel costs surged in 2024, more travelers sought protection through travel insurance, leading to an 18% increase in paid claims over the previous year. This rise in claims coincided with a dramatic 37% spike in payout amounts, which grew from an average of $1,900 to $2,609.Squaremouth.com, the country’s leading travel insurance marketplace, reveals the most common claims and highlights the travel insurance benefits that saw the highest reimburseme ...