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Coronavirus Outburst: Does Your Travel Insurance Policy Cover Losses?

Coronavirus Outburst: Does Your Travel Insurance Policy Cover Losses?

Nobody knew much about coronavirus until the virus outbreak engulfed some South Asian countries. For those who already had their travel plans to affected countries in place for this month, What if your flight gets cancelled or what if there is a medical emergency onboard owing to coronavirus? In all likelihood, one would have bought a travel insurance policy, but will it cover a cancelled flight due to coronavirus outbreak? Let’s find out these things.

The Fine Print For Your Travel Insurance Policy

A travel insurance policy will cover medical requirements in addition to your flight-related uncertainties such as loss of baggage, passport etc. But not all travel insurance policies cover cancellation due to fear, “Coverage depends on various factors, such as the type of policy, insurer, and policy inception date. There are a few insurers who have announced that policyholders will be covered if they are impacted by the outbreak of the viral disease. However, it will vary on the travel advisories and their respective governments to take a call on this as such cases of epidemics and pandemics are usually excluded.”

The impact of coronavirus outburst on your travel plans could be financially damaging. There could be cancellation or rescheduling of travel dates, hotel stays etc.If you are travelling abroad, it could be compulsory to get travel insurance before you fly to some specific countries.Travel insurance policy is a mandatory requirement for travellers who need to apply for a Schengen visa. Also, for passengers travelling to other countries, it is equally important to have the most comprehensive overseas travel insurance to safeguard you from medical and other requirements.

You were supposed to be going to China, but coronavirus has scared you and you want to cancel your trip. “I have travel insurance,” you say to yourself. “No problem.” Not so fast! Even if you have travel insurance, you may not be covered. Travel insurance covers what has happened to you, not what might happen to you. The moral of the story is that go through your the terms and conditions of your travel policy thoroughly. Pick out the policies that have most of the scenarios covered under their document. This knowledge would help you guard your future trips.

What If I Catch Coronavirus During Travel?

If you contract coronavirus before you travel or while you’re travelling, your care will prolly be covered if you have standard travel insurance. Many insurers set a deadline – a date before which you might be covered but after which you won’t be.

Reading the fine print is important to make an informed buying decision. It is better to go through the inclusions and list of exclusions in the policy document. May even contact the insurer and get it in writing about the specific coverage.

 

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