When COVID-19 brought travel to an abrupt halt in 2020, travelers were shocked to learn that their insurance didn’t cover travel changes due to an epidemic or pandemic. Many travelers who were on the road as the shutdowns began had to shell out their own money to book earlier flights home, while those with trips scheduled in the future were suddenly out all the money spent on nonrefundable tickets and accommodations.
Now as travel slowly resumes, you might be on the hunt for a new travel insurance plan that won’t leave you high and dry if the worst should happen. Plus, some destinations actually require that you have medical insurance. If you’re confused about where to start, we get it — it’s complicated. That’s why we’re here to lay out your options. Whatever policy you choose, make sure to read the fine print carefully and speak with your provider about any concerns.
1. Cancel for Any Reason (CFAR) Insurance
If you’re extremely worried about losing money on your trip, CFAR insurance is likely the best plan for you. “For travelers with concerns that can’t be covered by a standard policy, including fear of traveling because of coronavirus or sudden travel bans, Cancel for Any Reason coverage remains the best option,” says Kasara Barto, a spokesperson for travel insurance comparison site Squaremouth. “This time-sensitive upgrade is only available within the first two to three weeks of trip booking, so travelers interested in this lenient coverage should search for a policy as soon as possible after booking their trip.”
The major downside of CFAR insurance is that it’s expensive and it doesn’t necessarily guarantee that you’ll get all your money back. Barto notes that CFAR plans are typically 40 percent more expensive than standard travel insurance policies, and they only cover up to a 75 percent reimbursement of nonrefundable trip costs. Bottom line: This kind of policy might only be worth it if you’re taking a really, really expensive trip.
Read the full Travel + Leisure article online here: https://www.travelandleisure.com/travel-tips/travel-insurance-2020-coronavirus