Travel Insurance in 2021

Last year (2020) was a challenging year. Most countries around the world experienced various rates of infection at different times. As the extent of what was at first thought of as a local outbreak spread, and rapidly mutated into a world epidemic, countries closed their borders, and the world of air travel we were previously accustomed to, came to a standstill.

From an Israeli insurance perspective, insurance companies slowly started limiting insurance options for travel insurance. Initially, limitations were put into place, with regards to the length of trips, excluding certain countries from travel (such as the US), as well as removing certain parts of cover, such as cancelation of a trip.

Finally, as the infection rates rose in subsequent waves, travel insurance via Israeli companies was removed.

Towards the end of 2020, with the vaccine program starting to be rolled out, and travel to certain locations starting afresh, a few Israeli companies began offering limited travel insurance plans, both in terms of cover, countries, and length of trip.

Summer is fast approaching. The so-far positive impact the vaccine has had in Israel means that air travel is slowly opening up. With the easing of restrictions, insurance companies are gradually increasing and enhancing the travel insurance options on offer.

In this Corona age of travel, the insurance companies are seeing an increased risk to offering policies. As such, the cost of a policy in 2021 is significantly higher than what it was before Covid-19. Long gone are the days of forgetting to take out a policy, and being able to log in or call your agent on the way to the airport to issue a policy, especially for those with pre-existing conditions. 

For many companies, having the relevant documentation to prove one has had both vaccines, or having a certificate showing recovery from Covid-19, may be a pre-requisite to being to obtain travel insurance. As such, travel insurance is a necessary addition to advanced preparation of a trip. 

The main essence of travel insurance remains the same, namely covering financial risks should the unforeseen occur whilst overseas. This includes potential high medical costs abroad, and where necessary, repatriation back to Israel. Extra cover is also available in many instances for baggage, pre-existing conditions, pregnancy, and extreme sports, to mention a few.

There are also elements of cover available specifically covering the impact Corona may have on a trip, such as the need to change travel plans and dates should countries suddenly go into lockdown, or a new mutation that requires one to enter into “Bidud” – quarantine. This extended cover available can alleviate the financial impact certain Corona-related issues may pose to one’s trip.

For those traveling today, the recommendation is to speak to an insurance professional well in advance of a trip, and to go through all the elements of cover available, to ensure the appropriate plan is obtained. It is also recommended to check the maximum length of trip insurable, which may change depending on age, health, and destination before laying out for an expensive trip, and to check the affordability of the planned trip together with the cost of insurance. One thing 2020 has taught us, is that despite the increased costs of travel insurance at the moment, one can not afford to travel without an appropriate policy in place.

Contact us today and let us help you pick out the most appropriate travel insurance plan for you, and leave you with peace of mind in advance of any trip.