The extension of a quarantine stay, medical expenses resulting from coronavirus infection or the cancellation of a trip due to COVID-19 infection by one of the travelers. All these eventualities did not exist a little over a year ago, but today they are the order of the day.
The way of traveling has changed completely and, in view of the global scenario caused by the sudden appearance of this infectious disease, insurance companies have set to work to design travel insurance to cover the new contingencies.
Although travel has been reduced, COVID-19 has raised awareness of the importance of being backed by insurance, not only on vacations abroad, but also within the European Union and Spain.
In fact, to travel during this summer of 2021 many countries make it a requirement to enter their borders to have an international COVID travel insurance that covers medical expenses and extended accommodation if necessary. In this post we analyze the new coverage offered by insurance companies and other factors to take into account when traveling abroad.
What is COVID travel insurance?
COVID travel insurance is a policy that includes specific contingencies arising from COVID-19, such as medical expenses for this disease, extended quarantine stay or expenses for possible PCR tests during the trip.
Most common COVID insurance coverages
These coverages depend on the type of insurance chosen and the insurance company, however, among the most common ones are the following:
- Medical expenses for COVID-19
- Cancellation due to positive COVID-19
- Extension of quarantine stay by COVID-19
- Medical transfer and repatriation for travelers who have received medical assistance at destination and have had to extend their stay, losing their return transportation.
- Early return home in case of hospitalization or death of a family member.
As in all policies, the inclusion or not of these coverages will depend on the type of insurance. It is also necessary to take into account the amount of medical expenses covered or the extension of the stay.
Some countries require compulsory travel insurance before COVID-19
Until now, only a handful of countries required mandatory insurance to enter the country. With the introduction of COVID-19, at least fifteen countries now require a policy to cross their borders to ensure medical coverage and extended stay in case of quarantine. Therefore, if you are planning to travel abroad in the near future, it is important that you consult the website of the Ministry of Foreign Affairs, with updated data.
Some of the countries where this COVID insurance is required are Costa Rica, Argentina, Chile, Thailand or Ukraine.
For example, to travel to Costa Rica, a very popular destination this summer, it is necessary to have an international insurance with a guarantee of coverage for medical expenses in case of COVID-19 for at least 50,000 dollars and a minimum coverage of 2,000 for extended lodging expenses due to this disease. In other words, not just any international insurance or even any COVID travel insurance will do.
If you are planning to travel this year 2021, contact our brokerage PIB Group Iberia, where our specialized travel team will analyze which company offers the best coverage for your type of trip. In addition, they will study in a personalized way the additional risks of your trip and the situation to enter the country of destination to avoid surprises.
Other factors to take into account in your travel insurance during the pandemic
Although the virus is currently attracting all the attention, not all the risks on a trip are focused on it. There are other factors that we recommend you consider when taking out your insurance:
- Medical expenses over 100,000 euros: some “low cost” insurance policies that you can find on the Internet include only 12,000 euros, while, to give an example, an appendicitis operation in the United States can amount to 40,000 dollars. And it is precisely these types of unforeseen events that we want to cover with insurance. In fact, at PIB Group Iberia we will always offer you by default a minimum coverage of 100,000 euros for medical expenses.
- Liability coverage: includes personal damages to third parties caused by the insured involuntarily and we recommend that it is always included.
- Repatriation due to illness, accident or death: always included with a high amount.
- Added risks: bear in mind that activities such as diving, skiing or horseback riding, so common on vacation, are not usually included by default in the policies. For this reason, we must pay attention to the small print and be careful with comparators.
To conclude, we leave you with a list of what we consider to be the best travel insurance and we invite you to contact our travel insurance team to enjoy a well-deserved vacation with peace of mind, where all risks are covered.
