ST.
PETERSBURG, Fla., July 19,
2024 /PRNewswire/ -- Travel insurance can protect you
from financial losses due to unforeseen events, but many end up
overspending, mistakenly believing that a higher price is always
better. Travel insurance comparison site, Squaremouth, reveals
two things you should not include in their travel insurance
quote.
Refundable Trip Costs
Travelers insuring the cost of
their trip can expect to spend between 5-10% of their trip cost on
a travel insurance policy. Therefore, the lower the trip cost, the
lower the premium.
Buying Tip: Travelers should only insure the pre-paid,
non-refundable trip expenses they would lose if they can't take
their trip. This includes expenses such as airfare, hotel
accommodations, tours, and excursions, among others. If one of your
trip expenses requires a penalty to cancel, only insure that
amount, rather than the full cost.
Credit Card Points or Miles
According to Squaremouth
survey data, over 20% of travelers pay for their trips with
frequent flier miles or credit card points, but few know that
frequent flier miles and reward points are never covered by travel
insurance.
Buying Tip: While you can't insure the value of
points and miles, you can insure all taxes and fees associated with
their air miles or reward points. Some providers also provide
coverage to re-bank or redeposit the air miles if you cancel your
trip, depending on the policy.
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.
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SOURCE Squaremouth