We all know that the Corona virus has had a tremendous impact on the travel industry, it has also changed the travel insurance industry in some significant ways.
Some companies have stopped offering travel insurance policies altogether.
Policies are coming with more restrictions and limitations.
Cancel for any Reason Insurance (CFAR) policies have more restrictions or may not even be available for purchase.
Many providers now have limitations in place as it relates to Covid 19.
Allianz Travel, one of the biggest players has a notice posted front page of their website related to Covid 19 coverage.
" Our travel protection plans generally do not cover losses related to COVID-19. For more details, please read our coverage alert. Additionally, given the rapid rise in travel bans, please ensure that no travel ban is in place during your dates of travel prior to purchasing a travel protection plan. Our plans do not cover losses directly or indirectly due to government-imposed travel bans or similar restrictions related to COVID-19, and we therefore highly recommend that you do NOT purchase a travel protection plan for such conditions."
Travel Insurance is still an important piece of your vacation budget. A few things to keep in mind. Benefits vary by plan - choose a plan that fits your needs, your budget and your travel plans. Policies can't cover every possible situation - read the fine print. Travel insurance is designed to cover unforeseeable events - not things that you could see coming, or could have prevented.
Forbes recently posted a guide to Travel Insurance that is worth a read. Read More
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