Shopping for a journey insurance coverage plan? This is what to look out for, together with COVID-19 protection

SINGAPORE: The year-end holidays are simply across the nook. Many people are planning to journey abroad once more after greater than two years of the COVID-19 pandemic.

Many nations are welcoming again guests after easing or lifting their COVID-19 entry restrictions.

However on the identical time, new COVID-19 variants have been popping up throughout the globe. And that is why insurers are advising vacation makers to verify they get the appropriate protection when selecting a journey insurance coverage plan. 

IS COVID-19 COVERAGE IMPORTANT? 

A journey insurance coverage plan with COVID-19 protection is critical, mentioned Mr Alan Wong, a monetary service director at Prudential and an authorised agent of AIG Singapore

He added that the opportunity of contracting COVID-19 earlier than and through one’s journey remains to be excessive and such protection will care for a lot of the prices associated to medical bills, journey cancellation, journey postponement, journey curtailment and abroad COVID-19 prognosis quarantine allowance.

Ms Winnie Loh, founder and director of Advert Maiora, an insurance coverage company, agreed that COVID-19 protection is vital. She additionally famous that the variety of COVID-19 instances is rising in lots of nations.

WHAT TO LOOK OUT FOR IN TERMS OF COVID-19 COVERAGE? 

Mr Wong really useful that travellers look out for the restrict of COVID-19 protection of their journey insurance coverage insurance policies to test to see if it is ample to cowl the cancellation value of 1’s air tickets, lodging and itinerary.

“For instance, airfare prices S$3,000 and lodging prices S$2,000 however the journey cancellation restrict is barely S$2,500. Thus solely a part of the price is roofed,” he defined.

Mr Chandramogan, an government senior monetary planner with Nice Japanese Singapore, additionally mentioned you will need to discover out the sub-limits of the advantages included within the journey insurance coverage plan.

“There may very well be a case the place an individual may very well be down on account of COVID-19 and may must cancel, postpone the journey or undergo some journey disruption both earlier than, throughout or after the journey,” he mentioned.

“For such conditions, insurance coverage firms will reimburse primarily based on the sub-limit of (the) plan for bills incurred throughout these conditions.”

The vacation spot must also play an element when deciding on a plan, he added.

He mentioned: “For instance, within the US, medical prices will be loopy and relying on the kind of hospital and variety of days, you may incur fairly a hefty quantity.”