As the world tackles the Corona Virus (COVID-19), many travel plans have been canceled or are currently on hold as travelers wait for further updates.
A pandemic defined as a “disease prevalent over a whole country or the world,” whereas an epidemic is a “widespread occurrence of an infectious disease in a community at a particular time.”
If you are planning on traveling this year, or have purchased travel insurance, read below for some quick information on how travel insurance works during a pandemic.
What is Travel Insurance?
Travel insurance is an insurance policy that covers unforeseen losses like trip cancellations/interruptions, medical emergencies, and more.
All insurance agencies have different requirements regarding their travel insurance policies. If you have bought travel insurance, be sure to speak to your agent about their claims process and any exclusions that may be present.
What Will Travel Insurance Cover?
Travel insurers tend to cover losses in either a pandemic or epidemic, never both. This type of insurance also is intended to cover the traveler against the “unknown,” meaning buying travel insurance after a “known” event will not protect you against the “known event.”
Travel insurance typically covers the costs of medical expenses and cancellation expenses in the case of an epidemic/pandemic. Speak to your agent for specifics and how to file a claim.
What If You Don’t Have Travel Insurance?
In the cases that flights, hotels, car services are canceled by the providers, there should be policies in place that provide compensation.
In an effort to stop further spread of COVID-19, many institutions have waived certain fees for travelers who would like to reschedule their trips. Be sure to speak with your travel agent or any institution you booked with to clarify any confusion.
Payne Insurance Group
If you’re planning a vacation, don’t forget the travel insurance!
Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all types of insurance!