Waning inflation is encouraging Americans to make spring travel plans. A new report from Nationwide Travel Insurance indicated that consumer optimism is up with 91 percent of respondents saying they planned to travel domestically this year. Additionally, four in 10 respondents said they planned to travel more in 2024 than they did in 2023. Nearly half of respondents reported they were planning international travel this year. 

Travelers can expect the roads to be busy in 2024 with 30 percent of survey respondents saying they plan to use their vehicle to get to their travel destination, while 22 percent said they planned to travel by air. 

Cruises have also seen a surge in popularity due to the end of COVID restrictions, however, 51 percent of respondents said they were still concerned about a resurgence impacting travel this year. 

"It's encouraging to see another potentially strong year for travel as consumers continue to bounce back from the pandemic era,” said Syed Rizvi, vice president and chief specialty insurance officer at Nationwide Insurance. “However, the past few years have taught us that the next disruption may be around the corner, and we must plan for the unexpected. With so many factors that can disrupt a trip today, it's important for consumers to invest in travel insurance to protect their peace of mind and finances."

The survey found that 64 percent of travelers rarely or never purchase travel insurance, with 47 percent saying they didn’t believe it was needed. More than half of consumers thought their health insurance provider would cover travel expenditures, such as injury or illness overseas, while 41 percent believe their travel credit card would provide them with adequate coverage. 

"While credit cards can offer travel protection, they don't always fully cover an individual if something goes wrong, especially if they get sick or are injured while on a trip," added Rizvi. "When traveling in this age of uncertainty, consumers should consider enhancing their coverage by buying a separate policy that protects against unforeseen disruptions. It's a relatively small premium to pay compared to the total cost of the trip."

Purchasing insurance is a priority for travelers taking more elaborate trips, with 68 percent of respondents saying they get coverage for trips to another country and 65 percent reporting they purchase coverage for expensive trips. Meanwhile, 58 percent reported they get additional coverage for areas that have a bad weather season and 55 percent add coverage when traveling to places during a disease outbreak.