As the covid-19 pandemic continues to affect travel plans, many people have started to opt for purchase travel insurance. Covid travel insurance provides coverage for cancellations and interruptions due to the pandemic.
While standard travel insurance policies typically exclude pandemics, some insurers are now offering covid-19 coverage as an add-on. This coverage typically includes trip cancellation and interruption, as well as medical expenses and evacuation in the event that you contract the virus while travelling.
If you’re planning a trip and considering whether or not to purchase travel insurance, you can consider MoneySmart as your insurance choice. Should you need to cancel your trip due to unforeseen illnesses or travel restrictions, MoneySmart offers a variety of insurance plans that can cover you using their helpful online calculator that estimates the cost of your policy.
Key Benefits of Covid Travel Insurance
As the COVID-19 pandemic continues to evolve, many people are indecisive about purchasing travel insurance that includes coverage for pandemics. Here are some key benefits of COVID-19 coverage to help you make your decision:
- Financial Protection
As the Covid-19 pandemic continues, travellers are increasingly looking for travel insurance that will protect them financially in the event of cancellation or interruption.
If you have to cancel your trip due to a Covid-19 related reason, such as a positive test result or travel restrictions, travel insurance will reimburse you for your non-refundable expenses. This can include airfare, hotels, tours, and more. In addition, travel insurance will reimburse you for unused expenses if you have to cut your trip short due to a Covid-19 related reason.
- Emergency Medical Coverage
Emergency medical coverage is the key benefit of travel insurance. If you fall sick while travelling, your travel insurance will cover the cost of your medical treatment. Most travel insurance policies also cover repatriation costs if you must be evacuated back to your home country.
Covid travel insurance is not just for those who are planning to travel to high-risk countries. Even if you are planning a trip to a low-risk country, it is still a prudent decision. There are many unforeseen circumstances that are bound to happen while travelling.
- Evacuation Coverage
This coverage can provide you with peace of mind knowing that you will be covered in the event that you need to evacuate your destination due to a covered reason, such as a mandatory government evacuation order.
- Trip Cancellation Coverage
Covid-19 has wreaked havoc on the travel industry, leading to numerous cancellations and postponements. But many travellers don’t realise that their standard travel insurance policy may not cover them for these cancellations. That’s where travel insurance comes in.
Covid travel insurance is a special type of insurance that covers you for trip cancellations due to the pandemic. This coverage is essential for anyone planning to travel in the near future, as it can help you recoup any non-refundable costs if your trip is cancelled.