Should I Pay for Travel Insurance?
When the pandemic broke out, many travel insurance companies failed to cover Covid-19-related holiday cancellations, usually because they had no forecast for pandemics.
But in recent months, the travel insurance industry has introduced a number of new policies and forecasts covering the disease, as many international destinations have begun to demand them.
"We've seen progress in many programs now treating Covid like any other unexpected illness or disease," said Stan Sandberg, co-founder of Travelinsurance.com."If you take out travel insurance and are diagnosed with Covid-19, this will be covered by cancellation as an unexpected illness that prevents you from traveling," he added.
The
COVID-19 crisis has highlighted the many benefits of protecting your trip with
travel insurance but securing the right coverage policy won't be any less
important after the pandemic subsides.
"Whenever
we experience events that impact travel, consumers become more focused on how
travel insurance may be able to help," says Daniel Durazo, Director of
Communications at Allianz Global Assistance USA. "Smart consumers and
their travel advisors should learn how travel insurance can help cover losses
for non-refundable, pre-paid expenses and add peace of mind to trip
planning."
“I believe travelers will see that travel insurance is truly a necessity post COVID-19 as opposed to a ‘nice-to-have,’” says travel advisor Tom Varghese, owner, Travel Tom.
“The U.S.
was far behind other more mature markets for travel insurance compared to other
countries around the world,” says Jason Schreier, CEO of APRIL USA. “That gap
will close considerably as we’re expecting people to begin looking at travel
insurance as a must-have especially where flights are involved. There’s never
been a clearer time to see how unpredictable and out of control the world can
get.”
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