People are trying to find a new normal at the heart of a pandemic. If you’re set on travelling, a comprehensive travel insurance policy can help you prevent financial losses emanating from issues that occur before and during travel.
More often than not, people will overlook this investment until they find themselves in a dicey situation. The best travel insurance options with Covid-19 coverage will provide a safety net to travellers from travel risks. It adds an extra layer of protection and security.
Finding a Travel Insurance Carrier
Purchasing the best travel insurance plan with Covid-19 coverage has been made easy with MoneySmart. It’s a great place to start if you’ve never bought an insurance plan before. In addition, the platform allows you to compare various travel insurance packages based on price and coverage.
All you need is to key in your travel details and you’re all set. Moreover, MoneySmart only deals with reputable insurance providers and showcases clients’ reviews, which helps you make informed decisions about the type of travel insurance you’re trying to purchase.
What Are the Typical Standards that the Best Travel Insurance Plan Covers?
Most travel insurance policies vary, but the best ones would never miss covering these three things, protecting your wellbeing, financial expenses, and belongings. While looking for the best travel insurance plan with Covid-19 coverage, consider the following:
1. Trip Cancellation Plan
The insurance policy you opt for should allow trip cancellation as long as the risk is covered. Before the highly anticipated trip, one can get diagnosed with Covid-19, disrupting your plans. Once the doctor has verified your positive Covid-19 test, you are eligible for the coverage.
You’ll be able to get reimbursement for air tickets, rental cars, hotel rooms, cruises, and tours. However, it’s important to note that you can’t cancel a trip with no important reason and expect to be reimbursed by the insurance provider.
If you want maximum flexibility to make changes to your trip, you can opt to add ‘cancel for any reason’ coverage. It would, however, bump up the insurance premium to up to 40%, but it’ll give you the freedom of cancelling a trip at any time as long as you meet the requirements.
2. Medical Expenses and Emergency Services
Most insurance providers cover traditional illness plus Covid-19 should you get infected while on the trip. Your travel insurance should cater to all medical expenses, plus emergency medical evacuation when necessary.
3. Trip Interruption Coverage
In instances where you have to cut your trip short due to Covid-19 and other illnesses, your travel insurance policy should be able to cover you. Depending on your insurance policy, the provider can also cover when there’s a family emergency back at home. However, the policy can only reimburse non-refundable expenses. It should also provide a one-way ticket back home.
If your luggage takes a detour and fails to arrive at your destination, your travel insurance policy should be your saving grace. This is if your insurance policy contains baggage benefits, which will offer maximum coverage for that benefit. Moreover, you’ll also get reimbursement when your baggage is stolen or lost when travelling.
It may reimburse you with the cash value of the lost possession. However, you’ll need documentation to file an insurance claim before getting a reimbursement. Therefore, you must report your belongings stolen or lost to the airline, the police, and other authorities like a tour operator or hotel manager.
4. Coverage for Trip Delays
The travel insurance plan can offer financial relief when you experience delays on your trip itinerary. A traveller can trigger coverage when a trip is delayed due to one of the covered reasons. The reimbursement usually covers a set of meals, lodging, and transportation.
Common reasons may include civil unrest, bad weather, airline maintenance, and the recently added Covid-19. The funds would take time before they kick in. Moreover, your delay has to be for a stipulated amount of time listed on the policy to be eligible.
However, some travel insurance providers are lenient and would give reimbursement for the time delayed ranging from three to 12 hours.