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Forbes, April 23 2020 – This Is How To Buy Travel Insurance After The Pandemic

Forbes, April 23 2020 – This Is How To Buy Travel Insurance After The Pandemic

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These are the two types of travel insurance you can buy after the pandemic

If you’re going to travel, it’s not a question of if you need insurance, but what kind.

“Cancel for any reason” travel insurance. It costs between 10% and 12% of the price of your vacation, and it will refund part of your travel costs if you decide to cancel.

“Named perils” travel insurance. This is the more common kind of travel insurance. It’s less expensive (7% to 9% of your trip cost), but as the name implies, it only covers the perils named in the policy. And a pandemic is probably not included.

“Every traveler, especially when traveling outside of the U.S., should consider purchasing a comprehensive travel insurance policy to protect themselves and their trip investment from unforeseen emergencies,” says Terry Boynton, president of Yonder Travel Insurance.

But one size doesn’t fit all, say experts.

“Travelers may have different needs when it comes to travel insurance,” says Kasara Barto, a spokeswoman for Squaremouth.com, a travel insurance comparison site. For example, domestic travel will probably rebound first, which means customers will look for policies that include cancellation coverage and little to no medical coverage. The reason? “Health insurance typically covers travelers while in the U.S.,” she says.

Read the full Forbes article online here: https://www.forbes.com/sites/christopherelliott/2020/04/23/this-is-how-to-buy-travel-insurance-after-the-pandemic/#1f4a9f556362