We’ve planned, we’ve rescheduled, and we’ve longed for the days where we can finally dust off our passports and take to the skies.
It’s no secret that COVID-19 has reshaped the world in unprecedented ways – in particular the way we conduct business. After endless months of zoom calls and remote working its evident that nothing compares to face-to-face contact when building strong relationships.
With the world now opening in the ‘post-COVID era’, people have never felt such a strong desire to reconnect through travel. For many however, this can feel a little daunting, particularly with the many uncertainties and delays surrounding airline travel, restrictions, and rules across different countries not to mention the health risks.
It has never been more important to have quality Travel Insurance as your safety net when things don’t go to plan.
If you’re thinking of travelling in the near future here are five key factors to consider when purchasing a travel insurance policy.
1. Does the travel policy provide overseas medical expenses, protecting you on the off chance you contract COVID-19 while travelling in a foreign country?
Given the rise in medical costs in some countries or the need for payment guarantees to hospitals, it’s important to ensure that your insurance policy will provide cover should you require any medical attention or be hospitalised overseas for COVID-19 or any other illness.
Some countries in Southeast Asia for example, are now requesting that all foreign nationals have travel insurance for COVID-19, with minimum coverage requirements. If you have a prerequisite for a visa or a pre-entry requirement, speak to your insurance broker about your coverage, and ask that a certificate of currency is provided, highlighting coverage for medical costs in relation to COVID-19.
2. Will your travel policy provide cover for loss of deposits if an insured contracts COVID-19 prior to leaving the country?
It’s important to check and be aware of any cover conditions under your travel policy relating to illness. For example, to be covered, a traveller might need to have any diagnosis certiﬁed by a medical practitioner, and for the diagnosis to be made after the policy is purchased and the trip booked and, within a 14-day period preceding the commencement of the trip.
3. Does the policy provide any cancellation costs if a traveller contracts COVID-19 and is ordered to quarantine by the government or any public health authority?
It’s important to check how the coverage applies in a domestic or international travel setting. The policy might extend to providing a daily self-isolation payment. However, this could now be limited to overseas travel only. Understand the extent of your cover prior to departure.
It’s prudent to take note of any mandatory self-isolation or quarantine requirements for entering or travelling through any country or region. For example, if a traveler needs to undertake a seven-day isolation as a pre-entry requirement to a certain country, this may not be covered.
4. Does the policy provide cancellation costs if a traveler contracts COVID-19 and is hospitalised in a foreign country?
If you are hospitalised for COVID-19 and must alter your travel plans, it’s important to know if the policy will respond any differently to being hospitalised due to any other sickness.
5. Will your policy provide COVID-19 cover for business travel?
Some policies will cover cancellation can amendment expenses if you get COVID-19 before you leave, or while you’re overseas. These polices may also cover you for cancellation and amendment expenses if you’re deemed a close contact of someone who’s tested positive of COVID, but this isn’t always the case.
The cover amount can be limited so be sure to check with your broker specifically to find out what they’ll cover because it can be tricky.