The coronavirus pandemic is considered a foreseen event by many travel insurance providers. This means there are limited benefits available relating to the outbreak.
Canceling for Medical Reasons
Some travel insurance providers don’t consider contracting COVID-19 to be foreseen, meaning Trip Cancellation can still provide coverage if you contract the virus.
For a list of travel insurance providers that may provide this coverage, visit Squaremouth’s Coronavirus Travel Insurance Guide.
Canceling Due to Fear of Traveling
If you would like the flexibility to change your mind and cancel your trip due to fear of contracting the virus, Squaremouth recommends a policy with the Cancel For Any Reason upgrade.
Cancel For Any Reason can reimburse up to 75% of your trip costs if you cancel for a reason that is not otherwise covered by your policy, such as fear of traveling, and requires your trip be cancelled in its entirety at least 2 days before departure.
In order to be eligible for Cancel For Any Reason upgrade, you must purchase the policy within 10-21 days of your initial booking date, and insure 100% of your prepaid and non-refundable trip costs.
Canceling for Economic Reasons
In the event your trip is canceled for economic reasons, there are situations where some travel insurance coverage can apply. This includes the following benefits:
- Financial Default – This benefit can reimburse your prepaid and non-refundable trip expenses if your travel supplier suspends services due to financial circumstances. This benefit must be purchased within 10-21 days of your booking date.
- Cancel For Work Reasons – This benefit can reimburse you if your pre-approved vacation time is revoked due to an obligation to work.
- Employment Layoff – This benefit can reimburse you if you must cancel following an involuntary layoff or termination of employment.
For answers to frequently asked questions related to the coronavirus pandemic, please visit the Coronavirus Coverage FAQs in our Help Center.