Travel insurance company Cover-More is set to recommence providing coverage for cruising on overseas holidays, including New Zealand.
The imminent reintroduction, which coincides with the restart of cruising in Australian waters on 17 April, at this stage does not cover Australian domestic cruising.
Cover-More notified travel partners this week that it was making product changes “to protect more travellers”.
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The updated policy, taking effect from 20 April, provides coverage when a policyholder is diagnosed with COVID-19 while on board a cruise ship on multi-night sailings. Unlimited coverage benefits cover on-board medical cover and ship-to-shore medical cover.
“COVID-19 has been a challenge for everyone. For travel insurance providers, it is especially difficult to quantify the risk of each variant. To maintain readily affordable premiums for the Australian public, it is necessary to apply a special excess,” the updated Cover-More Travel Insurance policy wording states.
The Special Excesses will apply to Additional Expenses and to Amendment or Cancellation Costs. Cover-More’s Additional Excesses for international travel is AU$250.
Travel advisors with quotes not issued by Tuesday 19 April 2022 will be required to requote to take advantage of the new benefits.
Beyond cruising, Cover-More is going to introduce lead-time pricing for domestic policies and provide the option to purchase greater than $10,000 cancellation limits, which it says is “great for those high-end trips”; while pricing will be recalibrated based on destination versus the area, meaning “more agile pricing”, Cover-More said.
Elsewhere, CoverMore will begin covering cancellation costs for policies purchased within 3 weeks (21 days) of departure.