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Forbes, July 20 2020 – Will Travel Insurance Become A Must-Have Purchase?

Forbes, July 20 2020 – Will Travel Insurance Become A Must-Have Purchase?

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When Will Travel Insurance Become Mandatory Everywhere?

“Mandatory travel insurance is a matter of when,” says Rajeev Shrivastava, CEO of VisitorsCoverage.com, a travel insurance site. “Not if.”

Shrivastava believes mandatory travel insurance hasn’t happened yet because countries depend on tourism dollars.

“Governmental regulatory bodies were at odds with their tourism boards who did not want a mandate that might impact travel to their countries, even though the cost of medical care for uninsured foreign visitors was taking a huge toll on national healthcare systems across the globe,” he says. “In the wake of the pandemic, these systems have been pushed to the brink and won’t survive with any additional burdens of treating uninsured travelers.”

The COVID-19 pandemic didn’t start the process toward mandatory travel insurance but has accelerated it, according to observers.

“It was already becoming a growing trend for countries to require medical coverage because of an increase in unsettled medical bills from foreign travelers,” notes Kasara Barto, a spokesperson for travel insurance provider Squaremouth.

How much coverage do you need? A policy with at least $50,000 in emergency medical coverage and $100,000 for cruises or travel to a remote location, says Barto.

Read the full Forbes article online here: https://www.forbes.com/advisor/travel-insurance/must-have-purchase/