![]() Not Understanding Their “Cancel for Any Reason” Coverage Some of Bruening’s clients who have mild diabetes issues are suffering complications like acute renal failure or hypertensive emergencies after contracting COVID, and they’ve found that travel insurance doesn’t cover worsening conditions. “Or they will only cover COVID in certain jurisdictions, but not others.” You need to have a plan that covers coronavirus and pre-existing conditions that could get worse due to COVID-19. “What we’re finding is some coverages are stating they will cover COVID-19 testing, but not treatment,” says Bruening, who owns Cruise Finder Inc. At least that’s what travel advisors like Kyle Bruening are discovering. Just because a policy covers COVID doesn’t mean it covers everything related to the virus. “Don’t make the mistake of not being prepared for this.” (Several of Seven Corners’ policies cover not only COVID-19 but also any COVID mutation.) Not Paying Attention to the Limits of Your Coverage “When planning travel in 2021 and beyond, travelers should look for plans that cover COVID-19,” says Jeremy Murchland, CEO of Seven Corners, a travel insurance provider. While it’s true that many policies won’t cover another coronavirus outbreak, some still do. “There is far too much uncertainty to not get it, and the increased cost is lower than you think.”Ī “cancel for any reason” travel insurance policy typically costs between 10% and 12% of the value of your trip, versus 5% to 10% for a regular travel insurance policy. “Cancel for any reason coverage is becoming the go-to plan for travelers booking trips after coronavirus,” he says. That’s especially true of “ cancel for any reason” insurance, says Damian Tysdal, a travel insurance expert and host of the Safe Travels Podcast. Yet some travelers fail to purchase travel insurance because it’s too expensive. For example, if you have a serious medical problem while you’re overseas, the cost of a medical evacuation could bankrupt you-literally. You could lose the entire value of your trip and sometimes much more. Skipping travel insurance is a bad idea, especially at a time like this. “Make sure you understand what is and is not covered by the plan you are considering, and shop around to find a product that suits your particular circumstances.” Skipping Travel Insurance “The most common, and costly, travel insurance mistake is in assuming you are covered for everything,” says Phil Sylvester, a spokesperson for World Nomads. But the fine print often contradicts that. The large print promises “protection” and implies you’ll always be able to file a successful claim. You know the saying, “The large print giveth, the small print taketh away”? Well, that’s particularly true for travel insurance. It’s a back-up.” Travel Insurance Buying MistakesĮven though it can be essential, travel insurance is still a minefield of potential errors. ![]() “Travel insurance is just that-insurance. “Your safest bet for guaranteed protection would be to purchase from travel vendors with established clear terms and conditions, and flexible cancellation and refund policies,” she says. Papavlasopoulos says that one of the top errors she’s seen is assuming that travel insurance will cover poor travel planning. What are the biggest travel insurance mistakes? “Travel insurance suppliers are still spinning from all of the pandemic-related claims,” says Christina Papavlasopoulos, co-founder of Shefari, a tour company of women’s travel. There are more questions than answers about what insurance to buy now-and plenty of confusion. And travelers are having difficulty finding their way in this new post-pandemic environment, say experts. And that’s particularly true for vacations planned after the pandemic.ĬOVID has triggered a seismic shift in travel insurance, with aftershocks still being felt. After all, policies are filled with jargon and exclusions. When it comes to travel insurance, everyone makes mistakes.
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