In response to travelers worldwide being impacted by COVID-19, travel insurance providers are already making policy changes to address new concerns and the future of travel.
Travel insurance comparison site, Squaremouth.com, spoke with ten leading travel insurance providers to reveal four ways travel insurance is evolving because of COVID-19.
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New Traveler Concerns are Top Priority for Providers
Before January 2020, pandemics and viruses were not common concerns for travelers, with only one provider on Squaremouth.com offering coverage for CDC alerts. Following the widespread impacts of COVID-19 on the travel industry, coverage for viral outbreaks may become more in demand. Providers are developing policies that will offer more coverage for some of the impacts of a future pandemic, such as travel warnings and CDC alerts.
“We want to be here for our customers should a future pandemic occur. We have launched new plans that include coverage for Level 4 Travel Warnings,” said Bailey Foster, Vice President of Trip Cancellation for Trawick International.
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Providers Offer Coverage for Medical Concerns
In order for a traveler to have coverage for any event, they must purchase a travel insurance policy before the event occurs. Many travel insurance providers stopped covering losses related to COVID-19 as early as January 21, the date the first CDC alert was issued. However, some providers are still offering cancellation and medical benefits relating to COVID-19 on new policies purchased.
“Contracting COVID-19, as well as being quarantined while traveling, is still something that can disrupt travel plans, and travelers could have coverage,” said Dean Sivley, President of Berkshire Hathaway Travel Protection.
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