Travel insurance may not cover you
Many travelers are looking for more travel protections during these uncertain times, but experts say if you want to insure your travels against coronavirus, the best option is to buy a “Cancel For Any Reason” policy. Yet insurance marketplace Squaremouth reports that these must be purchased within 21 days of booking your trip and typically cost 40% more than standard travel insurance. These types of policies generally reimburse travelers 75% of their trip cost if they opt to pull the plug on their trip for any reason not otherwise covered by the policy.
In a situation like this, you may also want to get traveler’s health insurance if you’re traveling internationally. Many U.S.-based health insurance policies may not cover you abroad, Frommer says. But the problem is that most of these policies don’t cover epidemics. Allianz just changed its policies, Frommer says, but you’ll need to read the fine print on any other travel insurance policies you may have purchased or plan to buy.
Read the full CNBC article online here: https://www.cnbc.com/2020/03/13/travel-prices-dropping-amid-coronavirus-what-to-know-before-you-buy.html