You are here: Home - Insurance - News -

More travel insurance giants stop selling cover

0
Written by:
13/03/2020
The list is growing of travel insurers which have pulled out selling cover to new customers as coronavirus grips the globe.

Admiral, Churchill and Direct Line have all today confirmed they have paused the sale of new travel insurance policies in light of the coronavirus global pandemic. However, there’s no change for existing customers who can make a claim or amend a policy in the usual way.

AXA Insurance also clarified that any new policy bought, or new trip covered by an existing annual multi-trip policy ,after 3pm today would not cover any cancellation claim in relation to Covid-19. It added it will continue to cover any medical claims because of coronavirus for policy holders travelling to an area where no FCO advice against travel exists.

The Post Office also confirmed that any policy add-on such as extended travel disruption or enhanced trip disruption won’t include cover for claims relating to coronavirus if it was purchased after 11 March. However, those who bought policies before than are still covered.

These insurers add to the list of those that have suspended sale of travel cover or tweaked their terms amid the coronavirus outbreak.

Brian Brown, consumer finance expert at business information site Defaqto, said it’s likely more insurers will pause sales in the days and weeks to follow.

In terms of how quickly the insurance market is changing in response to coronavirus, he said: “I can’t recall a time when it has been as severe or sudden as what we are experiencing now. This is really an unprecedented event.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

Low-income pensioner? You could gain £3k top-up

Hundreds of thousands of retirees struggling with a low income are missing out on Pension Credit worth £3,300...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week