Along with everything else in the world changing travel insurance is as well. Travel insurance has rose 200% since January according to InsureMyTrip.com. People are beginning to understand the value of travel insurance.
One valuable lesson we have learned during this covid-19 is pandemics and epidemics are not covered. Travel who had to back out of travel plans before airline and hotels modified or cancelled their policy found out their policy was not much help.
Travel insurance usually have two separate upgrades: medical and travel for any reason (CFAR). Some travelers with a premium credit card that had travel protection or delay coverage felt in most circumstances that was enough.
When a major event happens, hindsight is 20/20. Purchasing travel insurance is no different. The best way to safeguard your travel is to purchase “cancel for any reason”, travel insurance. Let’s be clear this policy has to be purchase usually with in 7-10 of your deposit and has other restrictions. Although, this type of coverage is and upgrade or add, but well worth it.
During our uncertain times, several travel insurances companies has elected to stop selling the “cancel for any reason” policy. Currently, there is no word if it will be brought back or modified and return as an option for travels. In the future will pandemics be covered under travel insurance? The verdict is still out, but I would image so. Therefore, make sure you review and select the best policy for your travel needs.