Travel insurance can be a good investment if
you have medical issues or you’re traveling to a
volatile region, experts say. But it has its limits,
as many travelers whose plans are affected by
coronavirus have found out.
Travel insurance is designed to cover financial
losses if you have to cancel or interrupt a
trip. Some policies cover the loss or delay of
baggage. They also may cover any emergency
medical or dental care you need while
you’re traveling.
But basic policies generally don’t cover
pandemics such as the coronavirus. Policies
that do — called “cancel for any reason” — cost
significantly more and may only cover 50-75% of
a traveler’s losses.