The tourism sector has been one of the most hit industries because of the COVID-19 pandemic. COVID-19 has transformed the world of travel amid the cancellation of a lot of flights and closed borders. Some nations have started re-opening and relaxing the COVID-19 restrictions despite the threat of multiple variants of the ever mutating virus. Luckily, some travel insurances in the Philippines have been offering travel insurances as domestic traveling and short-haul demand are becoming more popular.
A lot of people are confined in their homes but are starting to dream of their sought after destinations in the next year. Numerous countries still experience lockdown caused by the pandemic of COVID-19 disease. This means that traveling is still hard to perform and a lot of borders are closed or only people with essential reasons can pass through. From now on, traveling will change to a new normal with new safety rules. Besides this, people who for the last year didn’t travel but wanted to do more, started thinking about the reasons. Can you answer why you travel?
In line with that, a massive amount of travel insurances are purchased by travelers as a way to safeguard them in their future travel. The goal of the travel insurance is to protect yourself from unforeseen accidents when you travel anywhere in the world. It also provides compensation for accidental death, dismemberment, or disablement as well as accidental burial benefit.
If in any case that you became sick in one of your activities during your travel, your travel insurance can provide for the emergency medical treatment you might need. Coverage also extends to follow-up care, as well as the daily incidental expenses involved in hospital confinement. On the other hand, if your trip was cut short sooner than you had planned, your insurance can reimburse the unused portion of travel and the non-refundable accommodation expenses that have been paid in advance.
There are numerous insurance companies in the Philippines that offers this kind of travel insurance like Malayan. Recent study showed that customers are booking on much shorter lead-times than previously where 80% of bookings in the new normal are within a fortnight of departure, as opposed to 30-60 days before departure in pre-Covid-19 times. Majority of those surveyed reported that free cancellation, flexible presale bookings and insurance coverage were the most important factors when booking travel nowadays. With that said, travel insurance’s popularity increased massively as it also became a prerequisite as entry requirement in some major cities.
Vaccination also plays a key role in the re-emergence of essential travel. All foreign nationals arriving in the destination country will be required to show proof of being fully vaccinated, along with a negative COVID-19 test. Travelers who have received a COVID-19 vaccine must still show proof of a negative COVID-19 test. If a passenger has already had COVID-19, they must present documentation of recovery. Quarantine on “bubbles” can be optional depending on their law.
The traveling and tourism landscape have definitely changed and it keeps evolving with the simultaneous updates in entry restrictions varying in different key cities. One thing is for sure, travel insurance is here to stay and will be a very vital requirement in the next few years to come.
Would you travel in the next few months? Have you already considered getting a travel insurance?