Has The Coronavirus Caused A Rise In Travel Insurance?

Travel insurance policies offer trip cancellation and trip interruption coverage if travelers test positive for Covid and need to cancel or are required by a doctor to quarantine. This means that if your trip is canceled or interrupted because you test positive for Covid, you can be reimbursed for pre-paid, pre-paid, coverage. The cost of travel insurance policies has increased this year due to various factors, including the COVID-19 pandemic.

A spate of new travel insurance policies have begun covering Covid-19, just as many international destinations begin to open. It is recommended to explore travel insurance with COVID-19 coverage to protect yourself if needed. These plans cover most testing, treatment, and quarantine costs.

The travel insurance industry has been significantly impacted by the pandemic, with data from the Office for National Statistics (ONS) showing that air passenger premiums could rise by 20 to 30 per cent. The number of travel insurance cases brought to the UK has increased by 19 in the past year, and complaints are now at a record low.

GlobalData’s research suggests that revenue generated from travel insurance purchases increased by 66.4 per cent in 2021 compared to 2020. Some travel insurance schemes may cover you as standard, subject to a medical certificate or test result if you tested positive for Covid-19. However, the level of pandemic-related cover offered by travel insurers varies, so it is essential to read the small print before buying.

Overseas travel insurance premiums have risen by 50 from pre-COVID-19 levels, and it is crucial to understand how the virus affected travel and cancellation insurance policies.