Week of November 7, 2022 – Mexico Is Most Popular Abroad Destination – Forbes Advisor

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Travelers booking trips last week (October 30 to November 5) were looking at Mexico, the United States and Israel. These are currently the most popular top destinations based on travel insurance policy sales.

The average cost of travel insurance for the top 10 destinations rose $7.38 compared to the previous week. The current average cost of travel insurance is $234 per trip.

This week’s travel insurance highlights

  • The most popular travel destination right now is Mexico.
  • The average spend on future trips is down from last week at $3,511
  • The most popular length for future trips is 15 days.

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Top 10 travel destinations and costs

Domestic vs. International Travel

Many Americans who purchased travel insurance last week plan to travel abroad: 92% of travel insurance sales are for international travel.

The average trip price for international travelers is $3,745. For domestic travelers, the average trip cost is $2,916.

International travelers paid an average of $244 for their travel insurance plans purchased last week, and domestic travelers paid an average of $175.

Average trip duration and cost

People who bought travel insurance last week are planning trips that will last an average of 15 days.

Travelers aged 70 to 74 plan the longest trips – 19 days.

Travelers ages 75 to 79 spend the most on their trips, averaging $3,146 per person. The overall average cost of travel based on travel insurance sales last week was $2,095.

Top concerns among travelers

Last week, travelers were most interested in these questions and types of coverage based on searches made when shopping for travel insurance.

What does travel insurance cover?

The best travel insurance policies contain a variety of useful types of coverage, including:

  • Trip cancellation: Refunds non-refundable, pre-paid travel expenses if you cancel for a reason specified in your travel insurance policy.
  • Cancellation for any reason: This add-on extends trip cancellation coverage. It allows you to get a refund for the money you lost, regardless of why you canceled a trip.
  • Travel Medicine: It pays for ambulances, hospital and doctor bills, lab work, medications and x-rays if you need medical treatment during your trip.
  • Emergency medical evacuation: Pays for emergency medical transportation to the nearest adequate treatment center.
  • Travel delay: Provides compensation for food, hotels, transportation and other reasonable expenses if you are delayed for a reason covered by your policy, as long as the delay is after the required waiting period.
  • Baggage: Reimburses you for the depreciated value of lost, stolen or damaged baggage and personal effects covered by your policy.

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Who needs travel insurance?

If you’re making large, non-refundable travel deposits, you may want travel insurance as a financial safety net in case you lose the money. For example, trip cancellation insurance under travel insurance typically covers the money you lose when you have to cancel a trip due to illness, injury, hurricanes, and other common travel issues.

Travel insurance is also a good idea if you’re traveling abroad, as many US health insurance plans have limited or no coverage outside the country, including Medicare. The medical insurance portion of a travel insurance policy can be critical in the event that you sustain an injury or illness while abroad.

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