It is becoming even more important to purchase travel insurance for upcoming trips. On May 31, Airbnb will end its COVID-19 refund policy.
Many other travel companies are also modifying or eliminating COVID-19 policies regarding cancelation even though travelers report that they are still concerned about COVID-19 impacting their vacations. In fact, according to travel insurance aggregator, Squaremouth.com, 42 percent of travelers searching for policies are specifically looking for coverage protecting them if they contract COVID-19.
International travel could impact travelers the most just as vacations abroad are reaching an all-time post-pandemic high. Those traveling abroad need to show a negative COVID-19 test for some destinations, and the U.S. requires a negative test prior to reentry.
Squaremouth points out that, while travel companies such as hotels and airlines are eliminating COVID-19 as a reason to cancel for a refund, a majority of travel insurance companies still offer policies that address the issues of contracting COVID and provide coverage in case there is a need for quarantine.
Depending on the plan, travelers could be reimbursed 100 percent of their prepaid expenses should their trip be canceled, as well as cover medical expenses during the trip and even the additional expenses incurred if a traveler contracts COVID and is stuck at their destination.
Squaremouth.com experts suggest insuring expenses that are otherwise nonrefundable, such as a vacation rental and airline tickets, and can expect to pay around 10 percent of their total trip cost.
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