People Purchasing Travel Insurance for Vacations to Mexico Spikes, Squaremouth Warns of Policy Limitations
Travel Warnings and the Fear of Traveling Not Covered By Standard Policies
According to customer sales data, Squaremouth saw a 51% increase in travelers purchasing travel insurance for trips to
Medical Coverage While in
Most standard and Cancel For Any Reason policies include medical coverage if a traveler became the victim of a violent crime. The Emergency Medical benefit can pay travelers back for their treatment costs and the Emergency Evacuation benefit can pay travelers back if they need to be transported to a hospital.
Traveler Insight: 42% more travelers are purchasing travel insurance with Emergency Medical coverage and 44% more travelers are purchasing travel insurance with Medical Evacuation coverage this year.
Evacuating a Dangerous Situation
Some policies will cover transportation to get a traveler out of a dangerous situation like a natural disaster or civil or political unrest, however, an increase in crime would likely not be covered under Non-Medical Evacuation coverage.
Traveler Insight: 95% more travelers are purchasing travel insurance with Non-Medical Evacuation coverage this year.
Cancel For Any Reason Coverage
For travelers who are worried to travel due to the recent violence and subsequent travel warnings should consider a Cancel For Any Reason policy. This is a time-sensitive benefit that can be more expensive, however, it gives travelers the freedom to cancel their trip and get up to 75% of their trip costs back without having to provide a reason for not going on the trip. This type of policy requires travelers to insure all of their trip costs and cancel at least 2-3 days before they are supposed to leave for their trip.
Traveler Insight: 38% more travelers are purchasing travel insurance with Cancel For Any Reason coverage this year.
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View original content:http://www.prnewswire.com/news-releases/people-purchasing-travel-insurance-for-vacations-to-mexico-spikes-squaremouth-warns-of-policy-limitations-300639131.html
SOURCE Squaremouth
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