Travel Insurance

How Covid-19 Has Changed Travel Insurance Purchases | Personal Finance

Prior to the pandemic, international trips made up 90% of all travel bookings. But in the 10 months following, international trips dropped to 67% of bookings. Previously, European countries dominated travel bookings, making up for 45% of all trips. But after international travel bans due to Covid-19, European trips accounted for less than 10% of travel going into 2021.

Some Caribbean countries that remained open to American travelers during the pandemic saw massive gains in trips from the previous year. For example, trips to Turks and Caicos increased by 303% and trips to the U.S. Virgin Islands increased 207%, according

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Do you need travel insurance while travelling during this pandemic?

text: With a travel insurance policy, policyholders are safeguarded from additional expenses that they may have incurred on an event of trip cancellation.

© Provided by The Financial Express
With a travel insurance policy, policyholders are safeguarded from additional expenses that they may have incurred on an event of trip cancellation.

With travel bans, grounded airplanes, and prolonged lockdowns imposed by governments across the globe, the travel industry took the worst hit by the COVID-19 pandemic in 2020.

Even though some believe that the travel industry will bounce back once the vaccine is accessible to everyone, experts say people still need to take into account restrictions and precautions while travelling.

Why does one need travel insurance especially during a pandemic?

Travelling amid a

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Getting back to travel: Insurance

As you start to plan some trips again, you need to think about travel insurance early. The reason is simple: Some important coverages require that you buy it within a week or two of the time you make your first payment of any kind. So you need to decide, from the get-go, whether you need insurance and, if so, what kind and how much you need to cover your risks.

an open laptop computer sitting on top of a table: Travel Insurance Claim Online Form

© Dreamstime
Travel Insurance Claim Online Form

Deciding whether you need special travel insurance is deceptively simple:


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• Many big-ticket travel expenses require that you prepay, in part

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FCA Greenlights Specialist Medical List For Travel Insurance

Law360, London (January 28, 2021, 6:39 PM GMT) — The Financial Conduct Authority has approved a new travel insurance industry directory of specialist providers for people with more serious preexisting medical conditions.

The British Insurance Brokers Association’s list of specialists, launched on Wednesday, is aimed at travelers who face steep premiums, are declined coverage or have policies canceled because of a medical condition.

The FCA-sanctioned travel insurance directory comes in addition to one published by the Money and Pensions Service, which was set up by the government to provide impartial advice.

“All firms that offer retail travel insurance must include

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