Squaremouth in the News

Chicago Tribune, Feb 25 2020 – Spring break is coming and the coronavirus is spreading. Here’s what to know before you go.

Chicago Tribune, Feb 25 2020 – Spring break is coming and the coronavirus is spreading. Here’s what to know before you go.

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Will insurance cover canceled trips?

Trip cancellation policies cover losses associated with trips canceled for specific reasons, and fear of being exposed to an illness is rarely one of them.

Only a couple of policies at travel insurance website Squaremouth cover cancellations to areas where the CDC has issued a travel alert, said Chief Marketing Officer Megan Moncrief.

Travelers can upgrade to policies that let them cancel a trip for any reason, but premiums can be 40% greater than those on a standard travel insurance package, and they often only cover about 75% of the traveler’s losses. In most cases, the policy has to be purchased at the time of booking or shortly thereafter.

“Usually it’s not a good investment … but there are some situations where it’s the only thing they can buy for what they’re concerned about,” said John Cook, president and CEO of QuoteWright Insurance.

Travel insurance packages often will reimburse people for quarantines, but only if the traveler is quarantined, Moncrief said. It doesn’t apply if the person intended to travel to a destination where a quarantine has been imposed, though some travel delay policies may cover expenses, like alternate accommodations and meals, if travel restrictions interrupt a trip, she said.

Read the full Chicago Tribune article online here: https://www.chicagotribune.com/business/ct-biz-coronavirus-spring-break-travel-20200224-7vqo6sndvfhrzavlwp2cwk56bm-story.html