Does Travel insurance plans cover coronavirus?
Unless you have “cancel for any reason” coverage, you might be out of luck.
While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy, experts say. And because the spread of the pathogen is now considered a known factor for travel — i.e., it’s a declared pandemic — it is likely to be excluded from coverage.
The total number of coronavirus cases across the globe is recorded at 183,319 total cases.
The rapid spread of COVID-19 has hit the travel industry especially hard, as event cancellations, closures, travel restrictions and consumers fear have stopped many trip-takers in their tracks.
The International Air Transport Association estimates that airlines globally will see a revenue loss of more than $100 billion this year.
However, if you cannot go on your trip because you’re quarantined — and can provide documentation of it — you might have coverage, depending on the insurance policy.
The best way to protect your trip through travel insurance is to purchase “cancel for any reason” coverage if it’s available in your state and if it hasn’t been too long since you made your reservations.
“You have to get that within 14 to 21 days of booking the trip, so unless you booked fairly recently, this probably won’t be an option,”
If the benefit is available, be aware that it comes with restrictions and rules, adds to the cost of your policy — and typically won’t fully reimburse you.
You may be entitled to some sort of compensation by the airline, cruise ship or other provider that you booked through if you’re left in the lurch.
“If a trip was canceled by the carrier, you should get a credit or refund from them. You don’t need travel insurance to get that.