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Getting ready to travel? If so, there are some medical considerations. Even though we’re enjoying a vaccine rollout, there are still potential health implications to plan for when you book upcoming trips—especially if you’re planning international travel.

When purchasing a travel insurance policy, it’s a good idea to look for a plan that will cover unexpected expenses if you need to quarantine abroad. Here’s important information about how travel insurance can cover a Covid-19 quarantine.

Related: Compare over 22+ travel insurance companies

Understanding Quarantine Protocols

In some countries, visitors must self-isolate upon arrival. This type of mandatory quarantine is not covered by travel insurance. For example, Bolivia, Nigeria, Saudi Arabia and South Korea currently have mandatory quarantine rules.

The only way you can recoup quarantine expenses from a travel insurance policy is if you test positive for Covid and you have a travel insurance plan that covers Covid. When you have a plan that covers Covid you can make claims for the following:

  • Trip cancellation benefits if you’re ill with Covid and can’t go. The trip cancellation insurance benefit can reimburse you 100% of your prepaid, non-refundable travel expenses if you’re unable to travel due to your diagnosis and quarantine, says Megan Moncrief, a spokesperson with Squaremouth, a travel insurance comparison provider.

  • Travel delay benefits if you are unable to return home due to a diagnosis and quarantine. This may allow you to get reimbursed for the cost of additional meals and accommodations. “These policies typically provide between $100 and $2,000 in coverage per person, with a daily limit between $50 to $300,” says Moncrief. It’s important to stay within your daily dollar cap if you don’t want to rack up expenses that won’t be reimbursed, especially because a quarantine period can last 10 to 14 days.

  • A trip interruption benefit that “can reimburse missed portions of the trip if you are forced into quarantine due to a positive test,” says Moncrief. This benefit pays out between 100% and 200% of your prepaid and non-refundable trip costs.

In addition, the travel medical insurance portion of a policy can cover treatment if you become ill while traveling. Check to make sure your policy covers Covid medical expenses.

Finally, if you are quarantined at your destination and are unable to return as planned, most travel insurance policies will extend their benefits up to seven days following the scheduled return date.

Related: Compare over 22+ travel insurance companies

people in line at airport

people in line at airport

These Issues Won’t be Covered

There are Covid-related quarantines that are not covered by travel insurance, notes Moncrief. For example:

  • A self-imposed quarantine out of caution due to exposure

  • Canceling a trip due to a quarantine requirement at a destination upon entry, or in the U.S. upon your return

  • Loss of enjoyment

In order

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.

This week’s episode starts with a discussion about travel insurance — what it offers, how much it costs and when you should purchase it.

Then we pivot to this week’s question from Marie. They wrote us asking:

“Dear Nerds,

I am preparing to buy my first new car and I am very excited that it will be electric. This will be the first time that I use a car loan to purchase a car. In the past, I have purchased used cars with cash.

I read on the NerdWallet website that it is advised to be preapproved for a car loan to improve your negotiating position. However, I have seen some car dealerships advertise 0% car loans and I wonder if those are really a good deal or if there is some fine print to look out for in order to really compare the costs to a loan from a bank or credit union. Could I get preapproved, but then also inquire about the 0% after settling on the price?

Also, I am in a unique situation in that I live in California and my finances qualify me for several state and federal financial incentives for purchasing an electric car. How should I handle a negotiation conversation if the dealer tries to factor in those incentives?

Thanks,

Marie”

Check out this episode on any of these platforms:

Our take

When you buy travel insurance, what you’re really paying for is peace of mind and flexibility. Prices vary, but Squaremouth, a travel insurance comparison site, found that for the 12-month period ending April 2021, a comprehensive travel insurance plan averaged 5.9% of the cost for a domestic trip, and 6.6% of the cost for an international trip. This can cover trip cancellation, lost baggage, medical expenses and more. Costs can vary by age and specific requirements.

If you’re in the market for an electric car, make sure you know the basics of how to buy a car. Getting preapproved for an auto loan before going into a dealership can give you leverage during negotiations with a salesperson. And look into state and federal financial incentives that can make your electric vehicle more affordable.

Additionally, look into leasing versus buying an electric vehicle. Battery technology is developing rapidly, so leasing might be a good option to avoid being stuck with an outdated or degrading battery.

Our tips

  • Explore your financing options before you choose a car. Consider leasing versus buying new versus buying used. The dealer has access to the best interest rates but it’s still important to pre-qualify.
  • If you are considering an electric vehicle, research incentives and how to apply them.
  • Know how to find the best deals. Take time to do the research and shop around.

Have a money question? Text or call us at 901-730-6373. Or you can email us at [email protected]. To hear previous episodes, go to the podcast homepage.

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.

This week’s episode starts with a discussion about travel insurance — what it offers, how much it costs and when you should purchase it.

Then we pivot to this week’s question from Marie. They wrote us asking:

“Dear Nerds,

I am preparing to buy my first new car and I am very excited that it will be electric. This will be the first time that I use a car loan to purchase a car. In the past, I have purchased used cars with cash.

I read on the NerdWallet website that it is advised to be preapproved for a car loan to improve your negotiating position. However, I have seen some car dealerships advertise 0% car loans and I wonder if those are really a good deal or if there is some fine print to look out for in order to really compare the costs to a loan from a bank or credit union. Could I get preapproved, but then also inquire about the 0% after settling on the price?

Also, I am in a unique situation in that I live in California and my finances qualify me for several state and federal financial incentives for purchasing an electric car. How should I handle a negotiation conversation if the dealer tries to factor in those incentives?

Thanks,

Marie”

Check out this episode on any of these platforms:

Our take

When you buy travel insurance, what you’re really paying for is peace of mind and flexibility. Prices vary, but Squaremouth, a travel insurance comparison site, found that for the 12-month period ending April 2021, a comprehensive travel insurance plan averaged 5.9% of the cost for a domestic trip, and 6.6% of the cost for an international trip. This can cover trip cancellation, lost baggage, medical expenses and more. Costs can vary by age and specific requirements.

If you’re in the market for an electric car, make sure you know the basics of how to buy a car. Getting preapproved for an auto loan before going into a dealership can give you leverage during negotiations with a salesperson. And look into state and federal financial incentives that can make your electric vehicle more affordable.

Additionally, look into leasing versus buying an electric vehicle. Battery technology is developing rapidly, so leasing might be a good option to avoid being stuck with an outdated or degrading battery.

Our tips

  • Explore your financing options before you choose a car. Consider leasing versus buying new versus buying used. The dealer has access to the best interest rates but it’s still important to pre-qualify.
  • If you are considering an electric vehicle, research incentives and how to apply them.
  • Know how to find the best deals. Take time to do the research and shop around.

Have a money question? Text or call us at 901-730-6373. Or you can email us at [email protected]. To hear previous episodes, go to the podcast homepage.

Episode

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.

This week’s episode starts with a discussion about travel insurance — what it offers, how much it costs and when you should purchase it.

Then we pivot to this week’s question from Marie. They wrote us asking:

“Dear Nerds,

I am preparing to buy my first new car and I am very excited that it will be electric. This will be the first time that I use a car loan to purchase a car. In the past, I have purchased used cars with cash.

I read on the NerdWallet website that it is advised to be preapproved for a car loan to improve your negotiating position. However, I have seen some car dealerships advertise 0% car loans and I wonder if those are really a good deal or if there is some fine print to look out for in order to really compare the costs to a loan from a bank or credit union. Could I get preapproved, but then also inquire about the 0% after settling on the price?

Also, I am in a unique situation in that I live in California and my finances qualify me for several state and federal financial incentives for purchasing an electric car. How should I handle a negotiation conversation if the dealer tries to factor in those incentives?

Thanks,

Marie”

Check out this episode on any of these platforms:

Our take

When you buy travel insurance, what you’re really paying for is peace of mind and flexibility. Prices vary, but Squaremouth, a travel insurance comparison site, found that for the 12-month period ending April 2021, a comprehensive travel insurance plan averaged 5.9% of the cost for a domestic trip, and 6.6% of the cost for an international trip. This can cover trip cancellation, lost baggage, medical expenses and more. Costs can vary by age and specific requirements.

If you’re in the market for an electric car, make sure you know the basics of how to buy a car. Getting preapproved for an auto loan before going into a dealership can give you leverage during negotiations with a salesperson. And look into state and federal financial incentives that can make your electric vehicle more affordable.

Additionally, look into leasing versus buying an electric vehicle. Battery technology is developing rapidly, so leasing might be a good option to avoid being stuck with an outdated or degrading battery.

Our tips

  • Explore your financing options before you choose a car. Consider leasing versus buying new versus buying used. The dealer has access to the best interest rates but it’s still important to pre-qualify.

  • If you are considering an electric vehicle, research incentives and how to apply them.

  • Know how to find the best deals. Take time to do the research and shop around.

Have a money question? Text or call us at 901-730-6373. Or you can email us at [email protected]. To hear previous episodes, go to the podcast

We may receive payment from affiliate links included within this content. Our affiliate partners do not influence our editorial opinions or analysis. To learn more, see our Advertiser Disclosure.

Travel insurance is a smart purchase if you’re plunking down big bucks for non-refundable trip deposits. It’s also a smart move if you’re traveling overseas, where you likely want travel medical coverage in addition to the other helpful coverage types within a comprehensive policy.

Even smarter is using technology to streamline your trip and get the most from your travel insurance purchase.

Related: Compare & Buy Travel Insurance For 2021

Travel Insurance Technology and Convenience

You can take advantage of technology from the start by using the internet to compare your insurance options. Travel insurance comparison websites let you sort through many options according to the types of coverage you want, how much coverage you want to buy and more.

Or by going directly to a travel insurance company website you can receive an online quote and complete the enrollment process, which eliminates hard-copy enrollment forms or mailing a check. Your credit card payments will be processed securely when you buy a policy. Also, these websites provide all types of information for understanding the coverage options available.

Once you have a travel insurance policy, you can reduce your time waiting on a customer service phone line by making any plan changes online.

Related: Compare & Buy Travel Insurance For 2021

You can also become a more informed traveler with travel insurance company apps. For example, Travelex’s Travel On app is available to those who purchase certain Travelex plans. The app features detailed destination advice, security alerts and risk ratings for travel destinations.

These apps also often offer a click-to-call assistance button, enabling 24/7 access to a provider for general advice or help during an emergency during your trip.

Travel insurance provider apps are also a good way to keep your travel paperwork and documents organized. For example, Trawick International’s app allows you to keep all of your insurance documents and visa letters stored in one place so you won’t have to carry any additional documentation while traveling, says Bailey Foster, a spokesperson for Trawick.

The Trawick app also allows you to track any claims and find providers who are covered under your travel insurance plan.

Apps for Planning and Assessing Risk

Peace of mind can add to your enjoyment of a trip. Many travel insurance company apps can help you plan and assess risk.

Here are some ways to enhance a trip and boost your safety with an app, according to Travelex:

  • Receive destination updates about Covid-19 restrictions, other health updates, security alerts, a country’s entry/exit requirements and more
  • Get travel information such as the official currency for your destination and customary tipping
  • Find the risk rating for your destination based on crime, civil unrest or terrorism incidents
  • Access 24/7 travel assistance to reach emergency help or concierge service for help rebooking a canceled flight or finding a medical provider

Technology

“We get lots of people who buy a house on Cape Cod who want to construct a deck right out on the ocean,” says CraigAshworthCraig Ashworth, a builder with E.B. Changes to the home won’t change prevailing climate conditions. “It’s very easy to fall into the habit,” says GeorgeBallantyneGeorge Ballantyne, head of the Sotheby’s International Realty workplace in Boston.

The answer really is dependent upon your budget, the extent of the renovation you wish to do, your timeframe, and whether your are renovating to sell or to stay in this house. Many home improvements not solely enhance the homeownership expertise and make a residence more appealing and cozy House & Home Improvement, but they’ll additionally save money. The builders of older properties didn’t always place the same values on effectivity as we do at present or have the kinds of supplies and know-how available.

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You ought to then put some cash apart as often as you presumably can for this essential project. Then we set about prioritizing that …

Just 18 months ago, the standard travel insurance policy wouldn’t have covered losses stemming from a pandemic. But nowadays some countries demand exactly that and travel insurers have been forced to pivot.

Costa Rica, for example, now requires all international visitors to carry at least $50,000 in travel medical insurance that covers quarantine and medical costs for visitors who test positive for coronavirus. 

Some airlines will help you make sure you have the right coverage for your destination by checking your documents at the gate. “They don’t want to fly you somewhere only for you to be told you can’t get in because then the airline is responsible for getting you home,” said Scott Keyes, the founder of Scott’s Cheap Flights. 

But there are other things you may want to consider. Even when it’s not required, travel medical insurance can fill gaps in your health insurance coverage and possibly save you tens of thousands of dollars in emergency medical expenses. 

Medicare and many U.S. health insurance plans often don’t cover health care for people while they travel outside of the U.S. Some American insurance networks are so restrictive that even medical emergencies during domestic travel would incur high out-of-pocket costs. 

“Don’t make the mistake of assuming you’re covered for whatever situation,” Keyes said.

Read the fine print

As the world was shutting down in early 2020, travelers were forced to face the fine print of their travel insurance policies. Not only were pandemics explicitly not covered by travel insurance at the time, but the full refunds some buyers had been expecting didn’t materialize. 

“They would have had to buy a more expensive policy,” Keyes said. 

Today, travel insurers explicitly state how their policies apply to Covid-19. Allianz Travel Insurance, for example, will consider claims for trip cancellation and interruption if an insured person, family member or traveling companion becomes ill with Covid-19 before or during the trip. Being afraid to travel isn’t enough to trigger Allianz’s epidemic protection. 

Whichever carrier you consider, you’ll want to read the COVID-19 portion of their fine print especially closely to make sure it meets your needs. 

There are other caveats to pay attention to as well. People looking to use travel insurance included as a credit card perk need to book their travel with that card. That goes for rental cars as well. Being a cardholder isn’t enough for coverage to kick in. 

Remember, it’s okay to purchase your travel first and then shop around for a travel insurance policy for your trip, especially if you’re purchasing pieces of your trip through multiple sites. 

Figure out what kind of coverage you want

The typical travel insurance policy in the U.S. includes coverage for trip cancellation, travel delays and baggage delays. Many policies also include coverage for emergency medical care and evacuation if necessary. 

The most common reasons for trip cancellation — unexpected illnesses and deaths in the family — are generally covered under standard travel insurance policies. 

These policies typically don’t cover the kind

“Fully vaccinated Americans are starting to book trips again, but appear to be more inclined to seek maximum trip cancellation flexibility,” says InsureMyTrip Product Manager Meghan Walch. “While Cancel For Any Reason coverage does tend to cost more than a traditional travel insurance policy, more travelers are now opting to make that investment.”

Upgrading Travel Insurance
Based on all comprehensive policies sold on InsureMyTrip since 2021, the percentage of travelers opting to add-on Cancel For Any Reason coverage has continued to trend upward. In April 2021, 16 percent of all policyholders invested in CFAR. These policyholders also tend to be in their 40s.

Jan 2021
Added CFAR Coverage: 8%
Median Age: 48

Feb 2021
Added CFAR Coverage: 7.5%
Media Age: 46

Mar 2021
Added CFAR Coverage: 14%
Median Age: 49

April 2021
Added CFAR Coverage: 16%
Median Age: 48

Source: InsureMyTrip Research

Travel Insurance for Fully Vaccinated
InsureMyTrip does recommend that fully vaccinated Americans buy travel insurance that includes a Cancel for Any Reason upgrade — for both domestic and international trips.

The CFAR offers the most trip cancellation flexibility. Full terms of coverage will be listed in state-specific policy. If eligibility requirements are met, reimbursement is typically up to 50-75 percent of the pre-paid non-refundable trip cost. (Note: coverages are governed by the specific plan certificate.)

“Fully vaccinated people are excited about the possibility to reunite with family members and fly again,” says InsureMyTrip Vice President of eCommerce Cheryl Golden. “We also realize that travel guidance — both in the US and abroad — is subject to change. Due to this uncertainty, we do strongly recommend that travelers consider CFAR to be better prepared for the unexpected.”

MORE: Coronavirus & Travel Insurance Information Hub 

Travel Insurance Expert:
Meghan Walch
401-773-9210
[email protected] 

Note: Traditional travel insurance does not offer cancellation coverage for fear of travel, whether related to COVID-19 or not. Cancel For Any Reason is required.

About InsureMyTrip
It’s simple. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.

SOURCE InsureMyTrip

Related Links

http://www.insuremytrip.com

EA and GGA surveyed 8,700 travellers across eight countries in the US and Europe from February to April 2021. The survey respondents, who indicated they would be travelling in the next 18 months and planned to book a vacation rental, were surveyed on their booking preferences, travel habits, and changing adoption and utilisation of vacation rentals.

Francine Abgrall, Group Head of Travel at Europ Assistance, said: “We felt it was important to gauge the sentiment of the average traveller to provide ourselves and our partners, leaders in the Vacation Rental booking industry, with valuable insights. Overall, the travellers we surveyed are excited to travel again. While Europeans indicated they would prefer to travel abroad, Americans opted to stay closer to home. When deciding what type of accommodation they would like on their next trip, 71 per cent indicated they would book a vacation rental.”

New travel habits have formed due to the pandemic

The survey asked respondents how their travel behaviour changed due to the pandemic:

Travellers more likely to purchase travel insurance

Findings include the respondent’s thoughts on travel insurance:

  • 70 per cent of Europeans and 64 per cent of Americans indicated they would be more likely to purchase travel insurance as a result of the pandemic.
  • 44 per cent of Europeans compared to 33 per cent had purchased travel insurance when booking a vacation rental in the past.
  • The top three coverages that reassured travellers looking to book vacation rentals are: 1) cancellation in the event of Covid infection or confinement (43 per cent), 2) medical assistance & repatriation (22 per cent), 3) reimbursement of unused travel days in case their stay is interrupted (20 per cent)
  • 23 per cent of Americans favoured coverage for reimbursement for unused days compared to 20 per cent of Europeans; while Europeans (23 per cent) found more peace of mind from medical assistance & repatriation coverage compared to Americans (17 per cent).

Chris Carnicelli, CEO of Generali Global Assistance, concluded: “Given the pent-up demand for travel it’s not surprising that approximately 80 per cent of respondents indicated that they planned to travel in the next 18 months. Based on the findings of our Vacation Rental Barometer and current industry trends, we anticipate that travellers will flock to vacation rentals as they look to have a relaxing socially distanced getaway.”

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