The latest from the Insurance Emporium, who reckon that younger people are discovering the joys of caravan holidays in the UK, which could also be greener than travelling overseas by air for a holiday. IE looks forward to seeing Bill Gates, Greta and the Markles at Skegness this summer, saving the planet and singing Ed Sheeran songs around a campfire hologram.
Here’s the word;
New research by York-based caravan insurance provider, The Insurance Emporium reveals ‘millennials’ are its biggest growing demographic, now accounting for 23% of all touring caravan policies in 2022, an increase of 5% since 2019. The surge behind this is being driven by an increase in caravan ownership for those under 40 since the pandemic.
And it’s not just new caravan’s that are piquing the interest of millennials. According to Pinterest Trends, searches for ‘caravan interior ideas’ are up 60% (March 2023) since last year (Feb 2022), with millennials accounting for approximately 52% of these searches, suggesting second-hand caravan ownership is also on the up. Millennials are known for their mindfulness towards sustainable travel, and this aligns perfectly with caravan ownership as it offers a reduced carbon footprint compared to air travel.
Caravans – and the vehicles that tow them – are expensive of course, often adding up to about £30,000-£100,000 in total value, which means they are a pair of assets well worth insuring. Caravans also require storage in secure locations during winter, although many people park smaller ones on their driveways. They still represent a break-in risk of course.
FESTIVAL FACTOR
Francis Martin, CEO at The Insurance Emporium said: “Unsurprisingly, since the pandemic we have seen a shift in people’s attitudes towards travel, yet this has been further exacerbated by the cost of living crisis.
We know that millennials are a very family-orientated generation, therefore caravans provide the perfect opportunity for a family getaway. From weekends away to the coast to family-friendly festivals caravan travel provides a new adventure each time. There’s also the multi-generational element that caravans can bring together several generations of the same family in one place.”
The recent announcement that more than 1,000 Passport Office workers are due to strike this spring could further boost UK staycations; with last minute travels plans potentially being scuppered.
Martin continues: “Travelling abroad has been plagued with issues since 2019. Firstly, the pandemic travel restrictions, then missing luggage and staff shortages last summer, and now strikes including passport office workers. It’s a no brainer that UK staycations offer travellers better flexibility as well as amazing experiences. Plus, dogs can come too!”
While the UK is in the midst of a cost of living crisis, holidays are still a spending priority according to ABTA, with people planning to cut back on non-essentials elsewhere before reducing their spend on holidays.
For further information on caravan insurance, visit: https://www.theinsuranceemporium.co.uk/products/caravan
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