Week of November 7, 2022: Mexico is the most popular destination abroad – Forbes Advisor | Tech US News

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Travelers who booked trips last week (October 30 to November 5) had their sights set on Mexico, the United States and Israel. Those are currently the top most popular destinations based on travel insurance policy sales.

The average cost of travel insurance for the top 10 destinations increased by $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 is currently Mexico.
  • Average spending on future travel was down from last week, at $3,511
  • The most popular duration for future trips is 15 days.

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Top 10 travel destinations and costs

National vs. international travel

Many Americans who bought travel insurance last week plan to take their trips abroad: 92% of travel insurance sales were for international travel.

The average cost of travel for international travelers was $3,745. For domestic travelers, the average trip cost was $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 purchased travel insurance last week are planning trips that will last an average of 15 days.

Travelers aged 70 to 74 are planning the longest trips, at 19 days.

Travelers ages 75 to 79 spend the most on their trips at an average of $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 issues and types of coverage, based on searches made when purchasing travel insurance.

What does travel insurance cover?

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

  • Trip cancellation: Reimburses prepaid, non-refundable trip costs if you cancel for a reason stated on your travel insurance policy.
  • Cancel for any reason: This add-on extends trip cancellation coverage. It allows you to get a refund for the money you lose no matter why you cancel a trip.
  • Travel doctor: Pay for ambulances, hospital and doctor bills, lab work, medications and x-rays if you need medical treatment during your trip.
  • Emergency medical evacuation: Pay for emergency medical transportation to the nearest appropriate treatment facility.
  • Travel delay: It provides compensation for meals, hotels, transportation and other reasonable expenses if you are delayed for a reason covered by your policy, as long as the delay occurs after the required waiting period.
  • Baggage: Reimburses you for the amortized value of lost, stolen or damaged baggage and personal items covered by your policy.

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Who needs travel insurance?

If you’re making large, non-refundable deposits for a trip, you may want travel insurance as a financial safety net in case you lose your money. For example, trip cancellation insurance within a travel insurance policy 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 because many US health insurance plans have limited or no coverage outside the country, including Medicare. The travel medical insurance portion of a policy can be crucial in the event of an injury or illness abroad.

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