Fear of infection is not a valid reason to cancel. If you simply want to call off your trip because you’re afraid you might get sick, a standard policy probably won’t cover you. “Travelers are typically concerned with wanting to cancel for fear of contracting the virus,” says Megan Moncrief, the chief marketing officer for Squaremouth.com, a travel insurance site. “If trip cancellation coverage is the main concern, we are advising against purchasing a policy, as this type of outbreak doesn’t fall under the standard list of covered cancellation reasons.”
Cancel for any reason insurance will cover you, but … There’s one policy that will cover you if you have to cancel your travel plans: a “cancel for any reason” policy. “It allows you to cancel for fear of something potentially happening, including coronavirus concerns,” explains Beth Godlin, president of Aon Affinity Travel Practice. However, she says it’s important to understand that you may not always get all of your money back. Some policies reimburse between 50% to 75% of your trip’s cost. “You may receive a portion of your loss, receive future travel credits, or both,” says Godlin. Also, “cancel for any reason” policies are pricier than named-peril policies — usually 10% of the cost of your trip, compared to about 4% to 6% of your trip for a standard policy.
Where to buy insurance for coronavirus coverage. If you’re taking a vacation soon and are afraid it might be affected by the coronavirus, you can do something. Get a “cancel for any reason” policy from a reputable travel insurance source. You can purchase a policy directly through a company like AIG Travel, Allianz Travel Insurance, Arch RoamRight, Generali Global Assistance, Travelex or through a travel insurance site like G1G Travel, Seven Corners, TravelInsurance.com or Squaremouth.
Read the full Forbes article online here: https://www.forbes.com/sites/christopherelliott/2020/02/02/does-travel-insurance-cover-the-coronavirus/#7576f1e54d64