People Purchasing Travel Insurance for Vacations to Mexico Spikes, Squaremouth Warns of Policy Limitations

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Apr 30, 2018, 12:27 ET

ST. PETERSBURG, Fla., April 30, 2018 /PRNewswire/ -- Mexico is a highly traveled destination but now many travelers may be rethinking their Mexican vacation due to increased violent crime and nearly 7,700 murders in the first 3 months of 2018. The dangerous crimes prompted the United States government to issue travel warnings, including for the popular destinations of Cancun and Los Cabos. Leading travel insurance comparison site, Squaremouth, reports an increase in people purchasing travel insurance for trips to Mexico. But Squaremouth warns, travel insurance may have limited coverage for an increase in crime.

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 Mexico, however, there is limited coverage for those who want to cancel their trip because of the spiking crime rate and resulting travel warnings. These travel warnings and the fear of traveling are not covered by standard policies.

Medical Coverage While in Mexico
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.

ABOUT SQUAREMOUTH
Squaremouth compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth's comparison engine and third-party customer reviews, travelers can research and compare travel insurance policies side-by-side. More information can be found at www.squaremouth.com

Available Topic Expert:
Carolyn Leckie
[email protected]
727-260-5012

SOURCE Squaremouth