If you’re taking a vacation in 2024, be ready for sticker shock. This year’s vacation could prove to be costly.
Airfares
Airfares are expected to increase between 3% and 7%. This is primarily due to high fuel costs as well as fleet upgrades.
Hotel Pricing
Expect to pay more for your hotel stay in 2024 as compared to last year. Prices are projected to increase based on the rising cost of food, labor, fuel and laundry rates.
Car Rentals
If you want to rent a car, expect to pay 5% more in 2024. Once again, the culprit seems to be fuel costs.
Food costs
If you’re on vacation, chances are you’re trying various restaurants in your destination area. Be prepared to pay for this experience. Restaurant prices have out-climbed the general increase in food prices an average of 5.1% annually.
Entertainment:
If you’re looking for ways to curtail some of these increases, check out these tips. Also, make sure you have adequate travel insurance in place, because it would be a shame if you lost all that nonrefundable money earmarked for a trip just because something occurred that prevented you from going.
Dan Drennen, Director of Sales and Marketing at Travel Insurance Center® expounds on the importance of travel insurance. “What happens if you can’t go on your trip,” Drennen wonders. “Maybe a hurricane decimates your trip destination. Or perhaps political instability makes travel to that location ill-advised. In those scenarios, what happens to any nonrefundable money you’ve plunked down on that trip? Is it simply lost?”
“It doesn’t have to be,” Dan says with confidence. “If you have suitable travel insurance in place, then you can hedge against the risk of losing your entire travel budget if you can’t go. That’s peace-of-mind gold!”
Do you need travel insurance? Where can you get it, and once obtained, how do you know it’s the right coverage for your needs and budget? It’s wise to work with a reputable travel insurance agent. Per Dan, “Good travel insurance agents work for you and have your best interest at heart. They specialize in knowing what’s available and ensuring you get the coverage you need at a price you can afford.”
So, how much can you expect to pay for the services of a good travel insurance agent? The answer according to Drennen, is “nothing.” To expound, “Honest agents get paid by the insurance carriers when they sell a policy. You never pay an agent directly. If one requires that you do, don’t walk away – run.”
Speaking of honest travel insurance agents, do consider the Travel Insurance Experts at Travel Insurance Center. They have the knowledge and connections to research top carriers and find you adequate coverage.
2024 is shaping up to be one of the most expensive years on record for taking a vacation. Don’t risk losing your investment. Call Dan and his team at Travel Insurance Center, a travel insurance expert would love the opportunity to help you protect your travel budget. Give them a call at 1.866.979.6753 to get a quote.