It used to be optional to purchase travel insurance before the outbreak happened, but now it’s pretty much mandatory. Purchasing insurance is if you find yourself in a situation and have to cancel, or loss of belongings. Now that it’s pretty much mandatory, it is no longer a question of whether or not to have the insurance, but what kind of insurance you have. Most travelers will probably travel domestically first when this is all over, so they will most likely want insurance that allows them to cancel for any reason.
- Insurance that lets you cancel for any reason is more expensive than that which only covers specific perils.
- “Cancel for any reason” policies have soared in popularity during the COVID-19 pandemic.
- It’s important to pay close attention to health coverage details and refund terms when buying a policy.
“Almost half of Americans who canceled their travel plans after the pandemic lost money, according to a new survey by ValuePenguin.”