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Travel insurance is skyrocketing: Is it really worth hiring one for the holidays?

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What happens if I get COVID19 while on vacation? What if my companion does it? What do the policies cover and what is their cost? These are some of the questions that those who are about to start their vacations ask themselves when considering opting for travel insurance, whose hiring has skyrocketed this summer compared to last year.

Up to a 226% more travel insurance They have been hired since the reactivation of tourism was announced. Compared to 2019, the largest increases have been registered in travel reservations (301%), followed by hotels (244%) and flights (176%), as detailed in a report published by the online travel agency Destinia.

Broken down by Spanish or international tourists, there is a slight difference between the two: Spanish travelers, who go to national locations or outside the borders, have taken out 205% more policies, while foreigners have done so in an increase of 276%. "People want to travel, they need vacations, but they also want travel safely and quietly and want to be covered if something happens to you, more in the situation of uncertainty in which we are. This has caused insurance when booking to skyrocket and customers book more relaxed ", they indicate.

WHAT IT COVERS AND HOW MUCH IT COST

Trip cancellation insurance covers all cancellation costs before the date arrives start of the same, as long as it is due to a greater cause. Although at the beginning of the pandemic, most companies did not bear the cancellation costs for COVID-19, the truth is that currently there are many insurers that have adapted the travel insurance product to the situation, they explain in Rastreator .

Thus, the guarantees included by most companies include the expenses for the extension of the insured's stay due to medical quarantine due to COVID-19, the expenses derived from carrying out the diagnostic test (PCR) and the cancellation in case the insured is positive in coronavirus.

But what happens if the traveler or the companions contract the virus? If you already have a travel insurance with health care contracted, they recommend contacting the insurance company as soon as possible to find out what exactly the policy covers and if both care and hospitalization are covered, since depending on the country , the cost can be a high amount.

In the event that a quarantine has to be carried out, the expenses would be covered, but taking into account that in these cases with an epidemic declaration, the health management of this disease is always under the direction of the Government of the country where it has been declared, that It will be who will determine how to manage it, what are the possible quarantine periods, in which medical center the person will be admitted, what will be the limitation of travel in and out of the affected area, even reaching the situation in which insurers could not provide the service because everything is totally controlled under the management and coordination of the government of the affected country.

In general, the cost is slightly higher than the rest of the insurances that can be contracted, about 10%, but it also covers more. It covers everything that normal insurance covers plus all new coronavirus services.

TRIP CANCELLATION

If a customer with the insurance contracts the virus and prevents him from traveling because he is sick during the dates of the trip, the policy covers the cancellation of the trip and the interruption of the vacation. The insured has coverage in case of contagion, with hospitalization or medical quarantine for COVID-19, as long as the disease is verified with medical documentation.

In addition, if it is a family member who falls ill, the policy allows early return due to hospitalization or death due to COVID-19 as long as it is a confirmed and demonstrable contagion.

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