Last updated on 06/30/2020

WARWICK, R.I., May 12, 2020 — As confidence grows towards an eventual travel rebound, InsureMyTrip is committed to ensuring travelers make the best choice for travel insurance. Today, the unbiased travel insurance comparison site released a “coverage checklist” to help travelers easily evaluate plans. This checklist guides travelers towards plans best suited to guard against COVID-19-related travel concerns.

New Travel Insurance Checklist 2020

“As travel restrictions wane, more travelers will be booking trips and buying travel insurance. Easily identifying travel insurance plans with broader coverage and flexibility is vital,” says InsureMyTrip Travel Insurance Expert Meghan Walch. “While using comparison tools on our site or speaking directly with an expert is always available, this simple checklist can help travelers better understand what they are buying — and how it will best protect them.”

Cancel For Any Reason Coverage

For the opportunity to cancel a trip for reasons other than those listed as “covered reasons” on a policy, a traveler may consider a plan that includes an optional Cancel For Any Reason (CFAR) benefit. This upgrade will include the option to cancel a trip due to concerns over COVID-19 whereas traditional trip cancellation coverage does not.

CFAR is an optional time-sensitive benefit available on some plans that allow a traveler to cancel a trip for any reason, up to 48 hours prior to the scheduled departure. Reimbursement is usually 50-75% of the prepaid, non-refundable trip cost. A traveler must meet specific eligibility requirements and must purchase a policy with CFAR selected within a certain number of days after making an initial trip payment or deposit.

Financial Default Coverage

Financial default coverage[1] is already included in many comprehensive travel insurance plans. This specific coverage is designed to help travelers in the event their travel supplier has stopped business operations due to financial reasons.

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