Is there any point in buying travel insurance if coronavirus isn’t covered by it?
If you’re insuring your trip because of Covid-19 you are probably out of luck; most trip-protection policies won’t refund you if you back out of an upcoming trip because you’re afraid to go. But there are plenty of other reasons to insure your trip; you might get a partial refund if your policy includes trip interruption coverage and you fall ill while traveling, or have to return home earlier than expected, depending on the circumstances. Another option is to buy a much more expensive “cancel for any reason” policy. These CFAR plans, as they’re known, frequently cost 40% more than basic insurance, and the coverage often pays out only 50% to 75% of your total expenses, compared with the full cost paid by regular policies. Consumers should make sure to check the fine print for any exceptions. Websites like SquareMouth and Travelinsurance.com let you comparison shop among insurers and filter search results by specific parameters. For a more details on the various policies, see “Travel Insurance: What You Need to Know for Covid-19 and Beyond.”
Read the full Wall Street Journal article online here: https://www.wsj.com/articles/coronavirus-travel-questions-11582980999