Hit the Road for Less: Experian Survey Shows That 42 Percent of Consumers Are Approaching Summer Road Trips With Frugality in Mind
03 Junio 2024 - 5:00AM
Business Wire
As consumers plan for summer vacations amid
high costs, they can find ways to keep more money in their wallets
with a variety of Experian’s financial tools
While many Americansi are planning to travel and take a road
trip this summer, inflation and high costs on essentials may put a
damper on their fun in the sun. Some expenses like gas have cooled,
but others have increased, with automotive insurance leading the
way climbing more than 20 percentii in the last year. To help
consumers with their overall financial health, Experian offers free
cost-cutting tools including the Experian insurance marketplace
that could save consumers more than $1,100iii on an auto and home
insurance policy bundle, or more than $800iv on an automotive
insurance policy alone.
Don’t let expenses make a dent in your finances
An Experian surveyv shows that 71 percent of consumers surveyed
feel inflation has impacted their road trip plans, while a majority
of respondents believe gas and accommodations will be their biggest
costs. Those surveyed plan to spend an average of $1,000 on their
road trip.
“There are many expenses to consider when planning a vacation
and every penny counts. We want to help consumers achieve their
financial goals whether it’s managing debt, increasing their FICO®
Scorevi, or saving money for that dream vacation,” said Rod
Griffin, senior director of Public Education and Advocacy for
Experian.
A major car expense to keep in mind is auto insurance, and
consumers should make sure they have the right insurance for their
travels and for the long-term. In fact, 3 out of 4 consumers
surveyed by Experian are worried about insurance rates increasing
in the next 12 months, while almost a third of respondents plan on
switching carriers in the next six months. Among survey respondents
who are currently shopping for auto insurance, 14 percent reside in
Texas and 11 percent are in Florida.
Plan a savings pit stop
Consumers don’t need to leave money in the rearview mirror. They
can sit back and let Experian look for ways to find cost savings as
well as get access to other resources to improve their financial
health with an Experian membership. A few of these strategies
include:
- Shopping around for auto insurance: Experian’s insurance
marketplace takes the time and hassle out of car insurance shopping
and can potentially find a better rate on consumers’ current policy
in minutes. Experian’s free service delivers multiple rates from up
to 40 top providers, allowing consumers to quickly and easily find
auto insurance that meets their needs while helping them save
money.
- Tapping into travel reward points: Consumers looking for
a credit card with certain terms and benefits, like cash back
offers or travel rewards, can find the right card with Experian’s
free credit card marketplace. The marketplace leverages a
consumer’s financial information against lenders’ requirements to
present tailored offers.
Whether you’re a seasoned explorer or planning your first
getaway, join the weekly Experian #CreditChat on X every Wednesday
at 3 p.m. ET to learn savvy tips, budget-friendly hacks, and
insider secrets to make your summer travels unforgettable without
breaking the bank.
Visit our Ask Experian blog for more road trip money-saving tips
here.
To learn more about Experian’s insurance marketplace and other
money-saving tools, go to www.experian.com.
About Experian
Experian is a global data and technology company, powering
opportunities for people and businesses around the world. We help
to redefine lending practices, uncover and prevent fraud, simplify
healthcare, deliver digital marketing solutions, and gain deeper
insights into the automotive market, all using our unique
combination of data, analytics and software. We also assist
millions of people to realize their financial goals and help them
to save time and money.
We operate across a range of markets, from financial services to
healthcare, automotive, agrifinance, insurance, and many more
industry segments.
We invest in talented people and new advanced technologies to
unlock the power of data and innovate. As a FTSE 100 Index company
listed on the London Stock Exchange (EXPN), we have a team of
22,500 people across 32 countries. Our corporate headquarters are
in Dublin, Ireland. Learn more at experianplc.com.
i
Summer Travel Survey 2024, The
Vacationer
ii
Consumer Price Index, U.S. Bureau of Labor
Statistics, February 2024
iii
Results will vary and some may not see
savings. Average savings of $1,137 per year for customers who
switched multiple policies and saved with Experian from Jan. 1,
2022 to Mar. 31, 2024. Savings based on customers’ self-reported
prior premium.
iv
Results will vary and some may not see
savings. Average savings of $828 per year for customers who
switched and saved with Experian from Jan. 1, 2022 to Mar. 31,
2024. Savings based on customers’ self-reported prior
premium. Experian offers insurance from a network of
top-rated insurance companies through its licensed subsidiary, Gabi
Personal Insurance Agency, Inc.
v
Experian survey, May 2024
vi
Credit score calculated based on FICO®
Score 8 model. Your lender or insurer may use a different FICO®
Score than FICO® Score 8, or another type of credit score
altogether. Learn more.
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Sandra Bernardo 949 529 7550 Sandra.Bernardo@experian.com
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