The Coronavirus outbreak is affecting all aspects of our daily lives at the moment – from home, work and school, to leisure and travel and we’re all having to quickly adapt. Insurance is no exception.
Because COVID-19 is a novel virus, existing insurance policies couldn’t have anticipated the need to cover it. However, under current exceptional circumstances surrounding COVID-19, insurance companies are making allowances – across motor, travel, home and commercial policies, to account for the outbreak’s disruptions. Some points to consider…
-Most holidays booked before March 2020 will be covered if you already had travel insurance in place.
-If your holiday has been cancelled, you should speak to your holiday provider directly and then to your travel insurer, if they won’t help you.
-Contact your travel insurer regarding your cover if you have to self-isolate whilst abroad.
-Unless deemed essential, travelling to a country against government advice will not be covered.
-If you have booked travel to a destination that the FCO have not advised against, simply a disinclination to now travel will not be covered.
-If your travel insurance is due for renewal, your new policy will likely not cover Coronavirus – your broker can advise on this.
-If you’re currently working from home, in line with government guidelines, you’ll need to confirm with your insurer that any work assets now at home are still covered. Some insurers are allowing your work equipment to be covered under your home policy, temporarily.
-From 30th March 2020, all cars, motorcycles and vans requiring an MOT will be exempt from testing for 6 months. Vehicles must still be safe and roadworthy.
-More people who may normally commute to work using public transport or via car share, currently have to drive in, so some insurers are extending cover for those who only have Social Domestic Pleasure, to Social Domestic Pleasure & Commuting – which is worth checking.
-If your work is considered essential work and need to use your car more to drive to different locations, check to ensure your cover is unaffected.
-If you are helping to support your community during the outbreak – by voluntarily transporting medicines or groceries, you will need to ensure you have the correct cover in place.
If you are now unable to pay your premium finance, contact your insurer to discuss this further.
Contact your broker or insurance company directly, for more information on how COVID-19 affects your existing and any new policies.