2020 was a total calamity travel-wise. The cover photo of this article is symbolic – an unused travel related item growing weeds… As a result many people are now seriously thinking about trip insurance for their travel plans. Have you ever asked yourself: what does trip insurance cover and what travel insurance policy do I need to buy, especially now during Covid-19? If you have, this article is for you. If you haven’t, you might want to read it as well, for your own peace of mind.
I asked my travel industry colleagues from TravelInsuranceMaster to explain to me and you, my readers, in simple terms, everything we need to know about travel insurance in 2021 and beyond and they graciously agreed to help us all out. TravelInsuranceMaster is a platform that compares for you travel insurance options from various providers.
IMPORTANT: At the end of the article you will also be able to find out which countries now require travel medical insurance and which – Covid-19 specific insurance.
Trip insurance is a big question mark when it comes to planning your next vacation, especially in 2021. Last year was filled with many travel cancellations and changes, highlighting the demand and importance of travel insurance. As you begin to do your research and planning, TravelInsuranceMaster should be one of your first stops to help you figure out what your travel insurance should cover.
With over 20 years of experience in the travel industry, Travel Insurance Master understands that travel insurance can be overwhelming for travelers. They did the work for you and partnered with a number of the world’s leading travel insurance providers. TTravelInsuranceMaster site easily walks you through a quote request, by prompting you to plug in your unique travel details [where you are travelling, how, how much you are paying for the trip, etc.]
The site then uses their trusted smart algorithm to recommend the best value – a plan that offers the maximum coverage for your money. You are able to compare this recommended plan with plans from other providers side by side, on the same page. The site really breaks down the benefits and plan details to allow for clear comparisons. Once you decide on a plan, checkout is seamless, and you’ll receive the purchased plan to your email.
The filters on TravelInsuranceMaster will also allow you to narrow down exactly what you are looking for in terms of benefits, but what benefits should you be aware of especially this year? What should travel insurance cover in 2021?
Cancel for Any Reason
Cancel for Any Reason, or CFAR, has been increasingly popular trip insurance coverage amongst travelers. It is offered as part of some comprehensive travel plans, and gives travelers the extra protection and flexibility they are looking for right now. CFAR allows you to cancel for any reason whatsoever as long as you are canceling within the stated timeframe, usually 2 days before your trip. Travelers with CFAR will receive up to a 75% reimbursement of their otherwise non-refundable prepaid trip costs. If you are interested in the CFAR benefit, be sure to purchase insurance within 1-21 days of initial deposit, depending on the specific plan. The best rule of thumb is the sooner the better when you buy insurance after booking your trip.
Trip Cancellation
Trip Cancellation plans only allow for cancellation if certain requirements are met. There are many covered reasons for trip cancellation including sudden sickness, injury preventing you from taking a trip, the death of a family member, or natural disaster affecting your home or destination. If a traveler was to become ill with COVID-19 before or during their travels, it would be covered either under the Trip Cancellation or Emergency Medical Claim.
Emergency Medical and Evacuation
Emergency Medical and Evacuation benefits of your trip insurance generally treat COVID-19 the same as other illnesses so selecting this benefit will give you the coverage you need if your fall ill on your trip. Trip Cancellation gives you the ability to receive reimbursement for 100% of your otherwise non-refundable prepaid trip cost. Be sure to read the description of coverage and understand the details and requirements you will need to meet like proof for cancellation.
Pre-existing Medical Conditions
One of the other benefits that makes purchasing travel insurance early more worthwhile is the Pre-existing Medical Conditions waiver. If you buy insurance within the stated timeframe from the initial deposit, usually 2 weeks, you will get broader coverage like the Pre-existing Medical Conditions waiver and more, depending on the specific plan. If you or someone you are buying insurance for has a pre-existing health condition, you should seriously consider the likelihood of it flaring up or reoccurring before or during your trip. Could it cancel or interrupt your travels?
For plans without the Pre-existing Medical Conditions Waiver, normally a medical condition present prior to your travel insurance policy’s effective date would not be covered. Most plans have a look back period which means the plan investigates your medical history, anywhere from 2 to 18 months, to check if your condition appeared or was treated during that time. Comprehensive plans with a Pre-existing Medical Conditions Waiver will give you coverage if you buy your plan the same day or within a set number of days after your first trip deposit. The good news is it usually doesn’t add to the cost of your plan!
Other Benefits of Trip Insurance
Travel insurance is important for both international and domestic trips. As another rule of thumb, if you are traveling 100 or more miles from home, you will want to consider protecting your investment. We have seen a rise in road trips and RV rentals in the last year and travel insurance can be helpful for these kinds of trips too. If you have to cancel or interrupt your trip due to a covered reason, you may be able to receive reimbursement for otherwise non-refundable, prepaid trip expenses like RV rental or campground reservations. Other cancellation benefits can include coverage for your Rental Car, Employment Layoff, Hurricane and Weather, Baggage Loss or Delay, and a lot more.
Which countries require travel insurance?
Please, note that several countries now require tourists to have travel medical insurance to cover unexpected medical expenses that your regular health insurance won’t cover. These countries are: all countries of Schengen Area in Europe (which pretty much covers most of continental Europe), Brazil, Cuba, French Polynesia, Russia, St. Maarten, and Thailand. The following countries require visitors to have Covid-19 insurance coverage: Aruba, The Bahamas, Cambodia, Costa Rica, Turks & Caicos, Ukraine.
Conclusion
Before you hit the road or take off on your next vacation, visit TravelInsuranceMaster to quickly and easily find the best travel insurance plan for your specific needs. Also note that searching for and comparing travel insurance plans is free of charge on their website.
If you purchased travel insurance before, please, share your experience in the comments below. I would love to hear from you what worked and what didn’t. Let’s have a discussion!
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I’m glad you mentioned that travel insurance is important to have when traveling internationally. When you travel internationally, you are probably increasing the risk of having your personal items stolen from you since you are a tourist. Travel insurance is good to have because then you will get some help replacing any items you might lose.
That is a great point! Some countries, unfortunately, have the bad reputation because of pickpocketers targeting tourists. Even in European countries like Italy this is a common phenomenon.