Should you Buy Travel Insurance During Coronavirus?
The year 2020 has been the most unique and weird year we have witnessed in our lives till date. The world has seen epidemics and pandemics before but not as big and grave as COVID-19 in recorded history. Among the many provisions taken by heads of various countries to control this apostrophe, international travel has been reduced substantially.
Though
travel itself is going down, the demand for travel insurance
policy is slightly immune to this. Travel Insurance is not only influenced
by epidemic or pandemic conditions but also on timely advisory issued by the
government. Travel insurance policy
in these coronavirus times comes in two categories, i.e. Travel medical
insurance for coronavirus and Trip insurance for coronavirus.
Travel
medical insurance covers your medical expenses if you get sick or injured while
you are away from your home country. Whereas Trip insurance covers certain
pre-paid expenses, such as on hotels, flights, and lost luggage. In uncertain
times due to this coronavirus catastrophe, there are high chances that your
trip gets cancelled. Most of the above-mentioned pre-paid expenses are non-refundable
but if you have Trip insurance then the insurance company would compensate such
financial losses.
There is
high financial risk ,in case, of both the medical emergency abroad and the
cancellation of your trip due to the pandemic. Therefore, it is highly
recommended for you to buy travel insurance if you are anticipating traveling
abroad in near future.
There are
many travel
insurance companies operating in
India and thus the competition is quite hot in the market. Do compare travel insurance policies online to get
the best deal. Taking well-informed decisions is always in the favor of
customers. As per our research, when people buy travel insurance after market
research and plan comparison, they save a lot on premium with no compromise on
features of the plan.
Due to
prolonged lockdowns and practice of social distancing norms, people are
hankering for travel. As the governments are gradually unlocking the economies,
travel is bound to rise. Now as individuals we have to understand that,
although the government is easing the lockdown due to economic pressures, the
onslaught of coronavirus has not steamed down. We have to maintain every
precaution that we can maintain at our level and buying travel insurance policy
is one of those precautionary measures.
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