Travel insurance products have been around for years, but the current world-wide pandemic has made this type of protection more popular than ever.
Some countries including Morocco, Thailand, Cuba, and many others, were periodically requiring travel insurance for entry prior to the pandemic. Travel insiders are largely in agreement that mandatory insurance requirements to enter most countries is just a matter of time, and that the COVID-19 pandemic will likely accelerate that time-line.
The biggest mistakes when purchasing travel insurance include:
- assuming that you are covered for all costs for all reasons
- not understanding the fine-print exceptions
- not getting enough coverage
- buying a “medical” plan that only covers expenses like airfare and hotel in case of a medical issue, but not the medical treatment itself. Without coverage for medical treatment, you may be denied treatment, required to pre-pay for treatment or get stuck with huge medical bills.
Considering factors including COVID coverage, coverage limits, and cancellation policies, Amy Danise, who analysis insurance for Forbes, has rated dozens of travel insurance policies. The top spots on her list are:
– AXA Assistance USA – Platinum
– HTH Worldwide – TripProtector Preferred
– Trawick International – Safe Travels Voyager
– April International – April Pandemic Plus respectively.