Though you may have this year or canceled your family’s summer vacation, holiday travel might still be on the table. On the one hand, the is nowhere near eradicated, so it’s hard to know whether it will be safe to travel by winter. But with so low ― at least for now ― it can be tempting to get in while the getting’s good.
According to the travel booking app , domestic flight prices around Christmastime have dropped 25% compared with 2019, reaching an average new low of $275 round trip. As for Thanksgiving, flights than in 2019, with a new average low of $216 round trip.
Of course, things could change as we get closer to the holiday season, and up. Here’s what you should remember when planning to .
Research the best cancellation policies.
right now. To encourage bookings, many have lowered their prices and relaxed their cancellation .
American Airlines, for example, now who book tickets for travel through Sept. 30 for occurring before Dec. 31 to cancel or change their itinerary for no fee. Hyatt allows all travel reservations until July 31, 2021, to be changed or canceled up to 24 hours before check-in without a fee.
However, just because you might be allowed to cancel doesn’t you’ll have cashback immediately. “While most airlines have generous cancellation policies at the moment, if you’re the one to pull the plug on the trip, you’ll likely receive a voucher for future travel rather than your actual money back,” said Ted Rossman, industry analyst for . Only when the or makes a substantial schedule change are you entitled to actual money back.
That means you won’t , but your funds could be tied up for a while if you cancel. “If you’re OK with a future voucher, then, by all means, book now,” Rossman said.
Another option is to look into a “cancel for any reason” policy, though there are a few catches. Rossman warned this costs more than a standard travel insurance policy, and it doesn’t reimburse all of your expenses ― more like 50% to 75%. Generally, this type of travel insurance is better suited for major , not short domestic ones.
Finally, Rossman said booking travel with a is a good idea. “Credit cards have more generous dispute resolution policies than debit cards,” he noted. Plus, as long as you avoid racking up interest by paying your balance in , credit card rewards can be valuable and help offset the cost of the trip.