Luxury Travel Trends in 2022
Now that travel restrictions are mostly lifted for fully vaccinated UK travellers, it seems that high-net-worth individuals are ready to see the world once again. We take a look at the top predicted luxury travel trends for 2022, along with the key considerations when it comes to High-Net-Worth Travel Insurance.
Best of Britain
Staycations continue to be the name of the game for many travellers this year. Whether this is friends hosting decadent house parties with their vaccinated bubbles or families looking to spend time together in a dream location – over the Covid-19 pandemic, we’ve been given the chance to explore the treasures that Britain has to offer.
While it may be tempting to pass over Travel Insurance when staying in the UK due to your medical expenses being covered, there are still other factors to consider. Your policy will cover for risks such as cancellations, baggage loss, jewellery cover and sporting equipment, all of which will remain useful on home ground.
Due to the boom of video conferencing over the pandemic, the rush to return to business travel has not matched that of travelling for leisure. With that being said, the travel industry is now seeing business travellers extending their stays, not only to make the most of the trip from a business perspective but also to see the sights that the area has to offer. The industry has now coined the term bleisure for those mixing business and leisure.
As a business, it’s up to you to ensure that your employees are covered with suitable Business Travel Insurance when they go abroad. However, if you’re an employee extending your trip for leisure – you will need to ensure that you’re still covered outside of the working period – especially if you’re booking your travel back to the UK.
While some travellers are comfortable spending their time in busy cities, dining at packed restaurants and whiling the nights away in palatial suites and nightclubs – others prefer a more cautious approach in their return to travel. For those who are looking for a little isolation, exclusive hideaways are becoming increasingly popular. This includes luxury private yachts, remote islands and lavish villas in quiet European corners.
If you’re staying in a second home, you should protect this with specialised Holiday Home Insurance – taking into account any extended periods where it may be empty. This will cover risks such as accidental damage, loss of income for rented homes and employers’ liability if you hire handymen, gardeners and/or cleaners.
Despite sustainability and protecting the planet becoming a big topic of conversation over recent years, following the pandemic, private jets have never been more popular. In fact, June 2021 was one of the busiest months for travelling by private jet since 2007. It’s thought that the popularity of this mode of travel has been triggered by the urge to avoid large crowds and shared cabins.
When you take out tailored Private Jet Insurance, it’s important to ensure you know the ins and outs of your policy and whether you’re covered for everything you need. For example, are your belongings protected while they’re in transit?
How James & Lindsay can help
At James & Lindsay, we specialise in arranging tailored insurance for high-net-worth travel. Our bespoke solutions are suited to accommodation and flights exceeding the limits of standard Travel Insurance and high-value assets, including jewellery. Your cover can also include extreme sports, sporting equipment, boat and yacht cover.
Click here to find out more about High Net Worth Travel Insurance or speak to one of our advisors on 01206 761111.