A price war coming in the world of travel insurance

Une guerre de prix à venir dans le monde de l’assurance voyage

At the time of the resumption of overseas travel is on the horizon, a specialist predicted a war of price and coverage in the world of travel insurance.

“Tell you one thing : the coffers of the insurers are almost empty. The way of filling, it is starting to sell,” said Louis Cyr, the insurance broker.

It is estimated that consumers could benefit from a strong competition between insurers who want to capture a fraction of the regular customers, despite the premiums that could be higher due to the pandemic.

Insurance COVID-19?

The risk of contracting the novel coronavirus overseas is so new that few insurance policies, the covered specifically until recently.

The deal is likely to change quickly, especially when the federal government will lift its travel warnings. “We’re going to see insurers say yes, we will see insurers say no,” says Mr. Cyr.

In all cases, a font that covers the pandemic may cost more expensive. The broker advises to make comparisons before completing his purchase, and pay special attention to the clauses relating to the repatriation, hospitalization, and the limits of the policy.

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