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Wall Street Journal, March 15 2020 – Coronavirus and Insurance Policies: What Is Covered?

Wall Street Journal, March 15 2020 – Coronavirus and Insurance Policies: What Is Covered?

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As the new coronavirus has been spreading across the U.S., many Americans are worried not just about being exposed to the virus and their health. They also want to know how various insurance policies they own—or are thinking about buying—would help them financially.

Here are some commonly asked questions:

Does travel insurance cover costs associated with coronavirus?

As a general rule, standard policies sold since mid-January have specifically excluded coverage for the coronavirus. As of then, most travel insurers began classifying the virus as “a foreseen event” for which trip-interruption and trip-cancellation benefits generally aren’t available, according to travel-insurance specialists.

Some are still providing medical benefits, emergency-medical benefits and medical-evacuation coverage, according to Kasara Barto, a spokeswoman for SquareMouth.com, a travel-insurance price-comparison website.

While annoying to many consumers, this exclusion is akin to home insurers not providing coverage to your house if you tried to buy it at the same time a wildfire was approaching your neighborhood.

That said, the coronavirus is proving unusual in many ways, including that at least one major insurer says it is providing more benefits than usual in some policies.

Read the full Wall Street Journal article online here: https://www.wsj.com/articles/coronavirus-and-insurance-policies-what-is-covered-11584273600