Travelling in the COVID-era? Here’s what you need to know about Travel Insurance!
September 27, 2022
7
minutes read

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.

This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.

Information is current as at the date the article is written as specified within it but is subject to change. Community Broker Network Pty Ltd and Community Broker Network Authorised Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of Community Broker Network Pty Ltd.
For professional insurance advice, connect with a CBN Authorised Insurance Broker.
Connect with a CBN Broker
Connect with a CBN Broker
Share
White LinkedIn Logo purple backgroundWhite Facebook Logo purple background
Written by
Community Broker Network
Read more
June 5, 2024
1
minutes read
Is your business prepared for the wet season? Don't leave it to chance!
As the wet weather approaches, it's important to safeguard your business from potential risks. From flash floods to power outages, the challenges are real, but so are the solutions.
Read more
Read more
May 28, 2024
1
minutes read
Hot off the press! Our May Markets Newsletter is here!
Hot off the press! Our May Markets Newsletter is here!
Read more
Read more
SUPPORTING OUR COMMUNITY
Our Environmental, Social and Governance (ESG) initiatives are our way of leaving the world a better place than we found it. We’re proud to be a carbon-neutral certified organisation, and we’re well on our way to becoming a net zero organisation.
Find out more
Find out more
Brokers in Action
Brokers in Action