If you're deciding whether to buy travel insurance, it is important to know that some policies don't cover pandemics. Some policies may only cover such events once they have been declared. You should carefully read your policy documents to find the details. If you're unsure, it is a good idea to get comprehensive travel insurance. You should also consider a policy that provides Cancel for Any Reason coverage.
Cancel for Any Reason coverage
Pandemics or epidemics are not covered under standard travel insurance. Therefore, those who do not choose the optional "Cancel at Any Reason" coverage are unlikely to be able pay for any pandemic-related costs. In addition, "cancel for any reason" coverage does not qualify as insurance in New York state because it doesn't trigger a specific event. However, insurers are able to comply with the law and show that the benefit is for an "authorized organization".
In recent years, many insurance providers have added the "COVID-19" pandemic to their travel insurance policies. For this coverage to apply, the traveler must be certified as a medical professional. Additional coverage such as "I'm afraid you will travel" is not offered. Cancel for Any Reason coverage could allow travelers to receive 50-75% reimbursement for their trip costs. However, travelers should be aware that this coverage is time-sensitive. Cancel for All Reasons is only available to those who cancel at least two business days before they depart.
Standard trip cancellation policy
A few standard travel insurance policies will not cover travel expenses if there is a pandemic. You must purchase an upgrade to your policy to include this coverage. The upgrade costs about 40 percent more than the standard policy and covers up to 75 percent of your trip's nonrefundable costs. If you're concerned about a pandemic, this is an option.
You should always check your policy to see if you have pandemic coverage. You can also look at your policy to find out what other mishaps might not be covered. Make sure your policy limits are sufficient to cover other mishaps. Also, ensure your policy covers transport and emergency evacuation in case of an emergency.
Cancellation for fear of travel
The majority of travel insurance policies do not cover cancellations due the fear of pandemics, or other diseases. However, there are some companies that have modified their policies. Under the optional Cancel Any Reason benefit, 50-75% can be claimed if you are ill and cancel your trip. However, this benefit can only be claimed if you act quickly. It is best to cancel no later than 2 days before your departure.
Unfortunately, most standard travel insurance policies exclude cancellation due to pandemics, epidemics, and viral outbreaks. This means that your plan won't cover your trip if you cancel due to "fear of travel." Travelers should realize that there are many reasons for cancelling their trip. Other than airline cancellations, passengers may also need to cancel due to cruise ship suspensions and other problems.
Pre-existing Condition Waiver
You may be concerned about the possibility of getting sick or hurt while traveling, especially if you have pre-existing conditions. Most travel insurance policies do not cover such conditions, but if you've got a chronic illness, you may be eligible for a pre-existing conditions waiver.
This waiver allows you avoid high premiums for medical conditions. If you have been suffering from a disease or other health problem for more than 60 days, you can get a waiver of pre-existing condition. But make sure you look at your medical records to make sure your policy covers this type of illness.
Cancellation coverage for COVID-19
Travel insurance is essential if you plan to travel to a country affected by the Covid-19 disease. Some insurance policies provide coverage for cancellations of trips due to certain diseases. Others will cover quarantine costs. It doesn't matter if you are traveling for business or pleasure. You need to know what your coverage is.
Most insurance policies exclude loss due to epidemics, so you have to ask your provider about cancellation coverage for COVID-19. This depends on your coverage and policy limits. COVID-19, which is a transmissible disease, may be excluded by some insurance plans. But others may provide coverage for such events if they're part of a joint public-private initiative.