The world has come to a standstill due to the outbreak of Covid-19, making it hard to plan for travel. There is cessation of movement in some parts of the world, professionals who provide essential services, or persons who have to travel back home. Insurers around the world are looking for ways to take care of their clients.
As you plan to go on a must- trip, you have to be aware of the insurance cover available. Luckily, insurance providers will pay for your medical emergency costs and help you go back home in case you get infected with Coronavirus on your trip. But you have to undertake a medical history check so that the policy provider is aware of your pre-existing ailments. Research has shown that persons living with a terminal illness are at a higher risk of catching the virus.
How Covid-19 has changed Travel Insurance
The world is experiencing lockdowns in many countries, which means one cannot travel, especially for non-essential reasons. The movement restrictions have taken a toll on the people because they cannot be with their loved ones or get a break from this situation through traveling.
The virus has caused many fatalities, and the infections are increasing fast every day. Insurance companies are putting measures in place to handle the high numbers of cancellations and refunds request. Hundreds of people are affected, and there is nothing they can do but stay at home.
Increased Cancellation requests
Ordinarily, if you fail to travel for a given reason, you get a refund of the payments that you paid the insurer, under the terms and conditions that you had agreed. Logically, the travel policy helps if your health is affected while on a trip. Insurance companies are looking at various factors before they can consider a reimbursement.
If you got the cover before the travel restrictions, you are entitled to repayment. However, travelers who took a cover risking to travel to the areas that are profoundly affected, and knew about the travel warnings, it is hard to lay a claim. Many insurance companies have excluded Coronavirus from the travel cover, and they cannot refund for a trip that has been canceled due to the disease.
If you must travel, take note of the terms that insurance has to offer. You will get partial coverage, mostly for the medical bills, if the virus infects you as you travel, and the insurer will also help you get back home.
ER Services for Travel Insurance
Travel insurance is supposed to cater to the unforeseen health issues when traveling. Coronavirus is a high risk, and a large number of travelers are infected. Your emergency costs would be paid by the insurer only if you had traveled before your country had restricted its citizens.
Unfortunately, COVID-19 has become a global disaster, and there is no single country you can visit without restriction. It is hard to travel because even the insurance companies are losing business as they stay at home. If you must go on trip, ask your insurance provider to take you through what they have to offer due to the pandemic so that you can buy a cover knowing the terms.
The insurance industry should respond to the current market situation as the needs have shifted due to the covid19. This sector is experiencing business loss, just like the other sectors as governments close their border and limit travel. Here are some reasons that have made it hard to get a Corona Virus travel cover:
- Insurers are not selling traveling covers as they grapple with pre-existing contracts that have been submitted for refund.
- The companies are losing business because no events are taking around place anywhere in the world, and airlines have also downed their tools.
- Some companies that are still selling have added more terms to cushion their organizations from the effects of this outbreak. But, the terms are appealing to buyers leading to low sales.
Travel Insurance Policy vs. COVID-19
Insurers will not reimburse your cover cost doe to the Coronavirus, and the terms are stricter. These companies have given a deadline, after which they will not consider a reclaim based on the buying date. The new terms are clear that the pandemic related reason does qualify for a repayment. This is a hard time to take a trip.
If you fall sick and the diagnosis is covid19, making you unable to travel, the insurer will refund you because your trip has been cancelled due to health issues. The inconveniences caused by the virus are also not covered by most policies. For example, you cannot claim if you miss your flight due to long screening queues at the airports. However, if you cancel your trip, you will get partial payments depending on the terms from the insurer.
Today, the best travel insurance to buy is the one that allows you to cancel unconditionally. The price is usually up to 12% of the total trip cost but is worth it, and you will get a refund due to covid19.
Coronavirus has influenced the way travel insurance is viewed from now going forward. You have to be attentive to the conditions and aware of unexpected risks. It is also clear that saving money when buying travel insurance is not a good idea, and so you have to be willing to spend an extra coin for a better cover.
Some insurance companies are kind enough to cancel their customer's trips because they already know its impossible for you to travel. It is an advantage because they are willing to offer alternative holidays for those affected. Some of the terms you may have to put up with include:
- You have to go on a trip within the next 18 months without any changes, such as increased holiday length.
- You can change your destination and make sure it's a safe country to visit. But your cost should not increase, and if the premium has to e increased, you pay the difference to ave the cover changed.
Talk to your insurance company if you had already booked a trip and see what solution they have to offer travel insurance for the corona virus may be hard to get, but it's not impossible to get something right.