InsureMyTrip Launches Groundbreaking COVID-19 Travel Insurance Recommendation Tool

Only travel insurance comparison site to offer self-service recommendations for COVID-19

InsureMyTrip, the nation’s first-and-largest unbiased travel insurance comparison site, launched a major new feature to help travelers easily find travel insurance that offers coverage related to COVID-19.

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Today, the unbiased travel insurance comparison site released a groundbreaking “covid-19 recommendation tool”  to guide travelers towards plans best suited to guard against COVID-19-related travel concerns.

“This simple recommendation tool can save travelers hours of searching online for travel insurance that may offer coverage for certain COVID-19 related issues, ” says Director of eCommerce Cheryl Golden.

“While there are limited options in the marketplace for travelers seeking coverage related to COVID-19, we offer these plans at InsureMyTrip— and now, thanks to this new recommendation feature, travelers are able to find them with ease.”

Travelers can review the expanding list of highlighted plans after completing a quote.  These plans may offer any or all of the following benefits for those who qualify:

Trip Cancellation Coverage
While traditional trip cancellation does not allow a traveler to cancel a trip due to COVID-19 fears, it may cover a traveler In the event he or she gets sick from COVID-19 and must cancel a trip. This recommendation feature highlights plans that offer coverage for this specific scenario.

Trip Interruption Coverage
In the event a traveler gets sick from COVID-19 and the trip is interrupted, this coverage may apply.

Cancel For Any Reason Coverage
If eligible, this protection allows travelers the option to cancel a trip due to concerns over COVID-19 whereas traditional trip cancellation coverage does not.

CFAR is typically an optional, time-sensitive benefit available on some plans that allows a traveler to cancel a trip for any reason, up to 48 hours prior to the scheduled departure. Reimbursement is usually up to 50-75% of the prepaid, non-refundable trip cost, depending on the plan selected. A traveler must meet specific eligibility requirements and must purchase a policy with CFAR selected within 10-21 days after making an initial trip payment, depending on the plan selected.

Quarantine coverage is less widely talked about but is valuable coverage that may trigger Trip Cancellation, Trip Interruption, and/or Travel Delay benefits. It is designed to provide coverage in the event a traveler must cancel a trip due to a forced quarantine, typically by a physician’s order.  Only select travel insurance plans will offer this.

Note: cancellation due to shelter in place, stay-at-home orders, or a state-mandated quarantine are not covered unless CFAR has been purchased.

Emergency Medical Coverage
Emergency medical coverage is already included in comprehensive travel insurance plans. This coverage is designed to help cover the cost of unexpected hospital or doctor visits while on a trip. All plans highlighted in the COVID-19 recommendation page do include emergency medical coverage which may help in the event he or she contracts COVID-19 while traveling.

Travelers must read the full terms and conditions for the plan, including all the limitations and exclusions.

Financial Default Coverage
Financial default coverage is already included in many comprehensive travel insurance plans. This specific coverage is designed to help travelers in the event their travel supplier has stopped business operations due to financial reasons. Coverage would need to be purchased prior to any announcement of financial instability.

Usually, airlines, cruise lines and tour companies are the kind of suppliers that financial default would be covered under a travel insurance plan. Financial default coverage may reimburse up to the full prepaid, non-refundable insured trip cost — only if the traveler is unable to make alternate arrangements to continue on with travel plans. If a traveler is able to book another flight, for example, benefits would then be adjusted according to the specific terms of the policy.

Note: Financial default is not the same thing as bankruptcy. While some travel insurance plans may also provide coverage for bankruptcy, most offer only financial default benefits.

Financial default coverage is usually considered a time-sensitive benefit. This means it may only be available within a specified period of time after making an initial trip payment. This time period varies by plan and provider, but is typically around 10-21 days. Coverage must be purchased prior to any announcement of financial issues made by the travel supplier.

In addition, policyholders may be subject to a waiting period after your policy goes into effect. If that’s the case, most plans will not allow benefits to go into effect until after the waiting period has ended.

Finally, some companies only offer coverage for the financial default of select travel suppliers. Contact travel insurance companies directly for questions about a travel supplier’s eligibility.

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