Is Travel Insurance Worth It? – Everything You Need to Know

Travelers get travel insurance to safeguard themselves against unexpected medical difficulties, family death, storms, job losses, terrorist attacks, or other reasons they may need to cancel their trip and will not be able to receive a refund. Many people have had their travel claims denied because, well, the coronavirus pandemic was unforeseen in terms.

What Is Covered By COVID-19 Travel Insurance?

For individuals who are purchasing travel insurance for future trips, the following unexpected events might be covered by comprehensive coverage:

  • Trip Interruption.
  • Emergency Medical Cover.
  • Cancellation For Any Reason.
  • Emergency Medical Evacuation Cover.

Many conventional travel insurance firms have added or modified their existing coverage to cover passengers during the coronavirus pandemic. In addition to the above coverages, check out examples of this coverage:

  • Reimbursement for medical treatment while on a trip due to a COVID-19 disease.
  • Infection by COVID-19 will necessitate the cancellation of a trip due to medical necessity.
  • Order for a quarantine by the physician before travel.
  • Loss of job owing to no fault of your own during the coronavirus pandemic.

The Best Travel Insurance Pandemic Plans

1) Cat 70

  • Plan: Travel
  • COVID Medical Cover: $500,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: The Cat 70’s strategy was one of the top performers since it delivered the greatest coverage levels in all of our tests.
COVID medical coverage is the first in line, so you won’t have to use your personal health insurance.
The best medical coverage limit we found among the plans we reviewed.
This insurance policy has no weak areas for COVID coverage, with excellent perks.

2) HTH Worldwide

  • Plan: TripProtector’s Preferred Plan
  • COVID Medical Cover: $500,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: COVID-related perks at HTH Worldwide are excellent across the board.
Because the medical coverage plan is primary, you won’t have to use your personal health insurance first.
Among the coverage options we looked at, this insurance policy has the greatest medical coverage limit.
If you cancel for a specific reason, you must add insurance within ten days of your travel deposit. Some coverage allows 14 to 21 days to add it before it expires.

3) Tin Leg

  • Plan: Gold Plan
  • COVID Medical Cover: $500,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: The COVID-related benefits of the Gold plan from Tin Leg are superior. 
The medical coverage plan is primary, so you do not have to use your personal health insurance first.
Among the plans we examined, it offered the most generous medical coverage.
This policy does not have a drawback for COVID-related coverage, owing to its outstanding advantages.

4) USI Affinity Travel Insurance Services

  • Plan: Diamond Plan
  • COVID Medical Cover: $500,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: The greatest medical coverage limit available from USI is its Diamond plan, which has excellent coverage.
Because the medical insurance is primary, you don’t need to use your personal health plan.
Among the plans we looked at, the highest medical coverage limit was offered.
There are no drawbacks if you’re searching for maximum COVID coverage.

5) AXA Assistance USA

  • Plan: Platinum Plan.
  • COVID Medical Cover: $250,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: Because of its strong pandemic-related coverage, AXA Assistance USA received high marks.
COVID medical coverage is the plan’s primary benefit, so you won’t have to use your personal health coverage first.
While the $250,000 medical coverage isn’t the greatest available, it is generous and more than other plans.

6) John Hancock Insurance Agency

  • Plan: Gold Plan.
  • COVID Medical Cover: $250,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: For pandemic-related difficulties, John Hancock’s Gold plan provides excellent protection.
COVID medical coverage is the first in precedence, so you won’t have to use your personal health insurance.
While the $250,000 medical coverage isn’t the most comprehensive available, it is substantial and more than other plans.

7) Trawick International

  • Plan: Safe Trips Voyager.
  • COVID Medical Cover: $250,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: The plan’s benefits are ideal for individuals who want comprehensive COVID-related coverage.
The medical insurance in the plan is primary, so you won’t have to use your personal health insurance first.
There is a 21-day grace period after your travel deposit, in which you can add non-compulsory cancel for any coverage reason.
While the $250,000 medical coverage isn’t the greatest possible, it is substantial and more than other plans.

8) USI Affinity Travel Insurance Services

  • Plan: Ruby Plan.
  • COVID Medical Cover: $250,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: For COVID-related travel perks, the Ruby plan of USI Affinity is extremely competitive.
Because COVID medical insurance is primary, you won’t need to use your personal health plan first.
While the $250,000 medical coverage isn’t the most generous, it is more other plans.

9) April

  • Plan: April Pandemic +
  • COVID Medical Cover: $50,000 per individual.
  • Covid Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: This April’s Pandemic Plus plan is an excellent alternative for people concerned about trip difficulties caused by COVID.
Because the medical coverage is primary, you won’t have to use your personal health insurance first.
This plan also includes $500,000 in repatriation and emergency medical evacuation coverage.
The medical coverage of $50,000 is less than that offered by other leading competitors, however, it may cover your travel.

10) John Hancock Insurance Agency

  • Plan: Silver and Bronze plans.
  • COVID Medical Cover: $100,000 for silver and $50,000 for bronze per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: The Silver and Bronze plans provide important COVID-related perks, as well as the option for individuals who do not want to take advantage of John Hancock’s Gold plan’s more generous benefits.
The medical coverage on the plan is primary, therefore you won’t have to use your personal health insurance.
Both plans cover rewards redeposit and airline change fees.
Although the cost of trip delay reimbursement for $750 (Silver) and $500 (Bronze) is lower than higher plans, it may be sufficient for your needs.

11) TravelSafe

  • Plan: Classic Plan.
  • COVID Medical Cover: $100,000 per individual.
  • COVID Cancellation Cover: 100% of the trip cost.
  • Reason For Picking It: COVID may cause you to miss your flight, so the Classic plan’s excellent medical coverage levels might come in handy. 
Because your medical insurance is primary, you don’t need to use your personal health plan first.
There is a $1 million reserve for repatriation and emergency medical evacuation.
Provides $2,500 for each missed connection and damaged/lost baggage compensation.
The $250 per person coverage for baggage delay is far less than top competitors after a 12-hour delay, when compared to other businesses.

Can Travel Insurance Help Cover The Costs Of Cancelling A Trip If I Need To?

Cancel For Any Reason (CFAR) is a travel insurance policy that provides coverage if you cancel for any reason. If you’re worried about government travel restrictions, it’s the ideal option for receiving a portion of your costs back. You should also inquire about any refund or travel concessions from your tour providers.

What If I Become Sick With COVID-19 During My Trip, Is There Any Way Emergency Medical Coverage Would Cater For Me?

Yes. Some travel insurance plans do include emergency medical coverage in the instance that a passenger becomes ill during travel and requires treatment by a doctor or hospital.

InsureMyTrip has introduced a new recommendation tool to help consumers find travel insurance plans that cover COVID-19-related circumstances. This tool helps customers select the best trip insurance policy for COVID-19-related travel worries during the purchase process.

Is It True That If A Traveler Fails To Obtain A COVID Test Before Departure, Additional Expenses Will Be Covered While They Wait For Negative Test Results?

If your insurance policy does not automatically extend after you have exhausted your coverage, it will not cover any missed flights or days. The COVID-19 recommendation tool may be used by visitors seeking insurance for future trips that would be ideal for covering COVID-19-related travel issues.

Is Travel Insurance Covering The CDC’s New Air Passenger Testing Requirements Entering The U.S.?

No, a general COVID-19 test will not be covered by travel insurance. However, in the case of a policyholder becoming ill during a trip and receiving a diagnosis from a physician, some healthcare plans will reimburse testing.

The CDC has recommended that all travelers to the United States from a foreign country must be screened no later than three days before flight departure. Before boarding the flight, you must provide documentation of a negative result or evidence of having recovered from COVID-19.

My Travel Supplier Canceled My Trip. Is It Possible For My Travel Insurance To Be Reimbursed?

Unfortunately, once the coverage period stated on the policy has elapsed (typically 10 to 14 days after purchasing the plan), travel insurance is non-refundable. In most cases, nevertheless, many insurance carriers will agree to move your coverage to a future travel.

Some travel insurance firms are considering reimbursements for clients who can show that their trip was canceled by their travel provider as the COVID-19 scenario continues to develop. If your journey is canceled by your travel provider, you can utilize the Cancel/Refund Request Form to appeal for a refund of your premium.

What Should I Do If My Travel Supplier Goes Bankrupt?

The coronavirus’ influence extends beyond medicine, as worries grow about the long-term financial effects of the epidemic on tourism. In the event that their travel provider goes bankrupt, travelers may wish to get financial default coverage as a protective measure.

This insurance is already covered in many comprehensive travel insurance packages and is designed to assist visitors if their trip provider has closed operations due to financial difficulty. Tour companies, airlines, and cruise lines are typical examples of suppliers whose financial failure would be covered by your travel insurance coverage.

If you are unable to proceed with your trip plans, financial default coverage only pays in full if you cannot meet alternate arrangements. If you are able to get on another flight, your insurance benefits would be modified based on the specifics of your policy. This offer is usually time-sensitive, and the amount of time it lasts varies by provider and plan.

Is It Possible For Me To Be Evacuated By Travel Insurance If I Am Ill With Coronavirus On A Cruise Ship?

Because the United States Coast Guard or another government entity typically takes care of evacuating passengers off a cruise ship, most travel insurance providers will not arrange it for them. The insurer will generally cover an evacuation to the nearest medical center where adequate treatment can be given after you’ve already been initially hospitalized at a facility that is unable to offer adequate care.

Is Travel Insurance Valid If My Cruise Line Cancels A Sailing As A Result Of The Coronavirus?

If the cruise line cancels the trip before they depart, they may be able to be reimbursed a portion (usually 50 to 75 percent) of their insured non-refundable pre-paid trip cost if they choose to cancel their entire travel. CFAR benefit has some eligibility criteria, and you are required to cancel at least two days before leaving.

I’m Getting Ready To Go On A Trip. Many Popular Tourist Destinations, Though, Are Closed Due To The Recent Pandemic. Can I Buy Travel Insurance Now Since I Don’t See The Point Of Visiting Them Right Now?

No. If you cancel due to reasons such as rides not being accessible, tourist sites being closed, not enjoying the best climate, or other similar factors, your insurance will not cover it. It would be too late to get regular travel insurance right now, no matter what.

Is Travel Insurance Valid If I’m Not Ill And Quarantined On A Cruise Ship?

It is possible. Like cruisers who are quarantined when they become ill, quarantined people who are not sick but are still subject to the same requirements as established by the policy and provider are likewise affected.

Bottom Line

Determining whether to buy travel insurance begins with learning about ways you may be covered, for instance through credit cards, and the hazards and regulations in your planned destination. While insurance may help to offset the costs of many hazards, it will not remove them entirely. Therefore, think about how much peace of mind is worth to you before making a decision about whether travel insurance is right for you.