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WARWICK, R. I. , March 12, 2024 /PRNewswire/ — Spring break is approaching, and enthusiastic students and families are taking well-deserved getaways. According to information from InsureMyTrip, this year’s travelers are heading to tropical and culture-rich destinations. .
Top 10 International Destinations for Spring Break:
Mexico
Bahamas
Italy
Caribbean
United Kingdom
Japan
France
Spain
Portugal
Dominican Republic
No matter where spring travelers end up, they pay more. According to researchers at InsureMyTrip, the average spring break will charge policyholders about 27% more this year than last year. And as summer approaches, charges are expected to rise even more.
Currently, the average summer vacation will charge policyholders $9,254*. This represents an increase of $8,824 in 2023 and $7,947 in 2022.
Even if emerging prices don’t seem to deter, it’s critical to protect that monetary investment. Here are three ways an insurance policy can provide important protection against emerging prices.
1. Medical Expenses
Most domestic health insurance policies do not cover medical expenses while traveling abroad. Having a travel insurance plan that includes emergency medical care can offer reimbursement for additional expenses in the event of an unforeseen injury or illness and covered, adding COVID-19, to the trip.
The emergency medical evacuation policy can provide transportation assistance to the nearest appropriate facility of care if the initial hospital cares for you well.
MORE: Medical Travel Plans
2. Travel Delays, Cancellations and/or Interruptions
These benefits are part of a comprehensive insurance policy that also includes medical and baggage benefits while sailing.
Flight delay: This gets perks, such as reimbursement for moderate meals and hotels while you can’t travel.
Trip Cancellation: Earn benefits that provide reimbursement for the cancellation of a trip for an unforeseen and covered reason. Each policy is different and lists the reasons covered by a cancellation in the policy.
Trip Interruption: This benefit may provide reimbursement of the unused portion of non-refundable prepaid expenses if your trips are unexpectedly interrupted.
MORE: Comprehensive Travel Insurance Plans
3. I don’t need it anymore
Given the fluctuating economic conditions, you probably think that the most productive thing to do is to give up this summer vacation. However, you probably won’t get back the money you already paid for a vacation, if the reason for your cancellation is rarely very much covered. That is, unless you’ve added the optional “Cancel for Any Reason” (CFAR) benefit.
Canceling for any reason is an upgrade with maximum vacation cancellation flexibility. This is the only option you may have to ease worry or change your mind. If the requirements are met, the reimbursement is usually 50 to 75% of the insured prepayment and non-refundable expenses (to be held in maximum statements).
MORE: Cancel Insurance for Any Reason
Journalists can request an interview or quote from Suzanne Morrow, CEO of InsureMyTrip, by contacting press@insuremytrip. com.
*Methodology: Data based on insurance policies purchased through InsureMyTrip between January 1 and March 4, for departures between June 1 and August 31, 2022, 2023 and 2024.
About InsureMyTrip You love the options. So do we. It’s simple. InsureMyTrip shows you the right travel insurance plan for you every time. InsureMyTrip is the authority on travel insurance. We are committed to enabling travelers to make the most productive insurance decisions imaginable by leveraging our technology, intelligent data, and expertise. InsureMyTrip has an A rating through the Better Business Bureau.
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SOURCE InsureMyTravel