ST.
PETERSBURG, Fla., June 28,
2024 /PRNewswire/ -- While travel insurance is more
popular than ever, many aspects of coverage often get
misinterpreted. The nation's leading travel insurance
marketplace, Squaremouth, debunks 4 common myths travelers
misunderstand when it comes to purchasing travel insurance.
Myth 1: Higher Cost Means Better Coverage
A common
misconception is that a higher premium means better coverage. But
that's not always the case. In fact, Squaremouth always recommends
travelers buy the cheapest available policy that provides the right
coverage for their needs.
This is because providers tailor their plans and prices toward
their target customer, so in some situations, policies with
identical coverage differ widely on price. As long as a policy
meets your trips criteria, and the provider has positive reviews,
getting the cheaper coverage is a great way to get trip protection
and save money.
Myth 2: You Don't Need Trip Cancellation
Coverage
Canceled trips are the most commonly paid out
travel insurance claim, and Trip Cancellation coverage can cover up
to 100% of your prepaid trip costs. With trip costs averaging up to
$10,000 this Summer, it's even more
important for travelers with prepaid expenses to protect their
financial investment in their trip.
Foregoing Trip Cancellation coverage could set you
back considerably should you encounter travel disruptions that
prevent you from taking your trip, such as an illness, extreme
weather, or delay of a travel carrier.
Myth 3: Travel Insurance Covers Every Medical
Emergency
While travel insurance covers many common
illnesses and injuries you could experience on your trip, it
doesn't cover every medical emergency. Each travel medical
insurance plan will have its own set of exclusions, which can
be found in the policy details, that outlines what activities or
scenarios can't be covered.
Myth 4: You Need Cancel For Any Reason
One of the
biggest misconceptions in travel insurance is that Cancel For Any
Reason coverage is a must-have benefit. For most travelers,
the extra cost of purchasing this coverage outweighs the benefits.
While Cancel For Any Reason coverage gives travelers the most
flexibility, it adds about 40-50% to the cost of the premium, and
only reimburses about 75% of trip costs.
The Cancel For Any Reason benefit is excellent, however, if a
traveler has a specific concern that is not already covered under
standard Trip Cancellation.
Available Topic Expert: Jenna
Hummer is available for comment and interview.
jhummer@squaremouth.com
About Squaremouth: Squaremouth.com has
insured over 3 million travelers. Using Squaremouth's intuitive
quoting and comparison engine, award-winning support team, and
verified customer reviews, travelers can save time and money to find
the best travel insurance policy for their trip.
View original
content:https://www.prnewswire.com/news-releases/4-common-travel-insurance-myths-debunked-by-squaremouth-302185139.html
SOURCE Squaremouth