Thanksgiving Travel Up

Some 38.4 million Americans will travel 50 miles or more from home over the Thanksgiving holiday weekend, up 1.4 percent over last year when 37.8 million traveled, according to the AAA. This year’s expected increase in travel reflects improved customer confidence from one year ago, better financial market performance and a growing sense among many consumers that the worst of the global economic crisis is behind us, AAA said. In 2008 Thanksgiving travel dropped a precipitous 25.2 percent in the wake of the ongoing housing and financial crisis. Some 33.2 million motorists are expected to hit the road this Thanksgiving, a 2.1 percent increase on last year. Another 2.3 million plan to travel by air, a decline of 6.7 percent, while the number traveling by train, bus or other transportation is expected to increase by 1.2 percent to 2.9 million. According to AAA’s Leisure Travel Index (LTI), Thanksgiving holiday travelers will pay less for airfares and car rentals this year. On average, car rental rates are down three percent to an average of $44 per day for a mid-size car versus $45 per day last year. To help consumers better understand car rental insurance, I.I.I. has created a podcast outlining the coverages offered in most policies. The podcast is available on iTunes and the I.I.I. Web site at Podcast: Rental Car Insurance. Have a safe and happy Thanksgiving!

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