Allianz Partners’ 14th Annual Vacation Confidence Index Finds Almost Half of Americans Plan to Use Sharing Economy Services This Summer
RICHMOND, Va., Aug. 2, 2022 /PRNewswire/ — The sharing financial system business shifted dramatically in 2020 when the COVID-19 pandemic hit, impacting ride-share providers and non-traditional lodging companies. Now that journey has returned with a vengeance within the Summer of 2022, Americans have jumped again into the sharing financial system with each ft.
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According to Allianz Partners’ 14th Annual Vacation Confidence Index, 46% of Americans are doubtless to make use of sharing financial system providers throughout their summer season holidays this 12 months, 4 factors greater than final 12 months and a five-point enhance in comparison with pre-pandemic 2019. The survey discovered that general belief within the sharing financial system continues to pattern upward as properly, with 60% of Americans deeming the providers reliable, a six-point enhance from 2021 and four-point enhance from 2019.
Younger age teams are extra doubtless to make use of shared providers throughout their summer season holidays, with 70% of 18–34-year-olds and 52% of 34–54-year-olds noting they’re more likely to take benefit, a seven-point enhance from final 12 months and notable 12-point soar from three years in the past. The age teams additionally usually tend to belief the providers, with 76% of 18–34-year-olds and 65% of 34–54-year-olds deeming them reliable, up 5 factors from 2021 and up 10 factors from 2019.
Unsurprisingly, vacationers age 55+ who’ve been extra susceptible to well being dangers and should not rely as ceaselessly on expertise are rating the providers decrease now than they did earlier than the pandemic, with a slight one-point lower in each belief (43%) and chance to make use of (23%) in comparison with 2019.
“Americans have grown accustomed to the conveniences afforded by the sharing economy during their summer vacations – from booking vacation rentals to requesting rideshares to explore their destination or simply go out to dinner – and our findings support that young travelers will continue to play a large role in keeping the trend alive,” stated Daniel Durazo, director of exterior communications at Allianz Partners USA. “While the increased pricing for these services can be a deterrent, even among sharing economy fans, one thing travelers likely won’t regret this summer is purchasing a travel insurance policy to protect their perfectly-planned summers.”
The journey and help firm discovered that yearly earnings considerably have an effect on the chance of utilizing shared financial system as properly. Americans who make greater than $100K yearly are extra doubtless to make use of sharing financial system in comparison with those that make lower than $50K (55% vs. 40% respectively). Despite rising prices of providers, each earnings stage earners are extra doubtless to make use of sharing financial system this summer season than the 12 months prior, with chance growing six factors for Americans making greater than $100K and a seven-point enhance for many who make lower than $50K.
The Vacation Confidence Index has been carried out every summer season since 2009 by nationwide polling agency Ipsos Public Affairs on behalf of Allianz Partners USA.
In March 2021, Allianz Partners introduced enhancements** to lots of its journey insurance coverage merchandise in most states via an Epidemic Coverage Endorsement. Products that embody this endorsement could present protection to prospects who turn into sick with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding because of a suspected sickness. These merchandise additionally could cowl emergency medical care and transportation or present reimbursement for change charges and loyalty factors deposit charges if the client turns into sick with an epidemic illness. Availability of the Epidemic Coverage Endorsement, and particular coated causes beneath that endorsement, varies by product and by state. See your plan for particulars.
Allianz Partners provides journey insurance coverage via most main U.S. airways, main journey brokers, on-line journey businesses, resort firms, cruise traces and on to customers. For extra data on Allianz and accessible journey insurance policies, please go to http://www.allianztravelinsurance.com/.
*Methodology: These are the findings of an Ipsos ballot carried out on behalf of Allianz Partners USA. For this survey, a pattern of two,011 Americans aged 18+ was interviewed from May 2 to 4, 2022, by way of the Ipsos Online Omnibus. The precision of Ipsos on-line polls is measured utilizing a credibility interval. In this case, the outcomes are correct to inside +/- 2.5 share factors, 19 occasions out of 20, of what the outcomes would have been had all American adults been polled. Quota sampling and weighting have been employed to be able to steadiness demographics and be certain that the pattern’s composition displays that of the particular U.S. inhabitants, in response to knowledge from the U.S. Census Bureau. Credibility intervals are wider amongst subsets
About Allianz Partners
In the United States, Allianz Partners USA (AGA Service Company) provides Allianz Travel-branded journey safety plans and serves hundreds of thousands of shoppers annually. In addition to journey safety, the corporate provides occasion ticket safety, registration safety for endurance occasions and distinctive journey help providers similar to worldwide medical help and concierge providers. AGA Service Company is doing enterprise as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is a part of the Allianz Partners group. Allianz Partners is a world chief in B2B2C insurance coverage and help, providing world options that span worldwide well being and life, journey insurance coverage, mobility and help. Customer pushed, our revolutionary specialists are redefining insurance coverage providers by delivering future-ready, high-tech, high-touch merchandise and options that transcend conventional insurance coverage. Present in over 75 international locations, our 19,400 workers converse 70 languages, deal with over 58 million instances annually, and are motivated to go the additional mile to supply peace of thoughts to our prospects around the globe.
** While the brand new Epidemic Coverage Endorsement provides sure coated causes that apply to particular epidemic-related conditions, merchandise in any other case usually don’t cowl claims because of recognized, foreseeable, or anticipated occasions, epidemics, authorities prohibitions, warnings, or journey advisories, or concern of journey, and protection can differ by state. Please see our Coverage Alert for details about different short-term lodging that could be accessible. Benefits for quarantines solely apply when an eligible traveler is particularly named and individually ordered to quarantine by order or official directive of a authorities, public regulatory authority, or the captain of a business vessel on which that eligible traveler is booked to journey through the coated journey, primarily based on that eligible traveler’s publicity to COVID-19. The profit doesn’t cowl journey restrictions (whether or not or not they’re known as “quarantine”) that apply usually or broadly (a) to some section or all of a inhabitants, geographical space, constructing, or vessel (together with with out limitation shelter-in-place, stay-at-home, safer-at-home, or different related restriction), or (b) primarily based on to, from, or via the place the particular person is touring. Coverage could not cowl the total price of your quarantine and is topic to relevant profit limits. See your plan for particulars.
For Allianz Partners USA merchandise provided and bought within the U.S.: Terms, circumstances, and exclusions apply to all plans. Plans can be found solely to U.S. residents. Not all plans can be found in all jurisdictions. Availability of Epidemic Coverage Endorsement, together with particular advantages and coated causes described right here, varies by product and by state. Products could not embody all advantages or coated causes described right here. All advantages are topic to most limits of legal responsibility, which can in some instances be topic to sublimits and every day maximums. Benefits and limits differ by plan. For an entire description of the protection and profit limits provided beneath your particular plan, rigorously assessment your plan’s Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance protection is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated “A” (Excellent) by A.M. Best Co., beneath BCS Form No. 52.201 collection or 52.401 collection, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated “A+” (Superior) by A.M. Best Co., beneath Jefferson Form No. 101–C collection or 101–P collection, relying on state of residence. A+ (Superior) and A (Excellent) are the 2nd and third highest, respectively, of A.M. Best’s 13 Financial Strength Ratings. Except as in any other case specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded journey safety plans within the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance, TravelGood, and AgentSmart are marks of AGA Service Company or its associates. The insured shall not obtain any particular profit or benefit because of the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans embody insurance coverage and help providers. Noninsurance advantages/merchandise are offered and serviced by Allianz Global Assistance. GoodBenefits proactive funds and “no receipts” funds accessible solely on sure plans. For plans that embody proactive funds: while you decide in and supply flight data, Allianz Global Assistance will monitor flights and ship flight standing and profit alerts, together with alerts about flight delays that qualify for automated journey delay funds. Standard message/knowledge charges apply to SMS alerts. Automated claims and fee system availability is just not assured and is topic to our sole discretion. All claims topic to coverage phrases, circumstances, and exclusions.
SOURCE Allianz Partners