Written By: Megan Moncrief, Chief Marketing Officer – Tin Leg Travel Insurance
As the COVID-19 pandemic continues, the impact has evolved from travel closures and health concerns to a widespread economic crisis. With no clear end in sight, major businesses have already closed their doors, as other companies struggle to stay afloat. This can lead to a number of financial concerns for travelers, from the longevity of their travel supplier, to their own employment.
Travel Insurance Coverage During Difficult Economic Times
We know a significant amount of time and effort goes into planning unforgettable trips. Now, these unprecedented times have added a new and unfamiliar layer of challenges for travel agencies and travelers alike.
Fortunately, Tin Leg Travel Insurance offers benefits that can help travelers protect their trip investments during these tough economic times.
Coverage for financial default of a travel supplier: Some of the largest and most recognizable travel suppliers in the world have either already entered financial administration, or announced that they expect to if this crisis continues. As more companies face the financial ramifications of the COVID-19 pandemic, this may become a growing area of concern among travelers.
The Financial Default benefit of travel insurance can reimburse 100% of a traveler’s trip cost if they need to cancel their trip because of an unexpected suspension of operations by their travel supplier due to financial circumstances. This is included within four of Tin Leg’s six policies under the Trip Cancellation and Trip Interruption benefits. However, it’s important to note that this benefit is time-sensitive, and must be purchased within 10-21 days of a traveler’s initial trip deposit date. This is the date the first booking was made, such as airline tickets, hotel reservations, or a down payment for a cruise, among others.
Coverage if a traveler loses their job: Unfortunately, the lasting effects of the pandemic are forcing more and more U.S. residents out of work. During these tough times, which are hurting individual residents and companies of all sizes, travelers may be booking their trips now to take advantage of discounted rates, however the long-term impact of the pandemic on their own employment may not be entirely clear at this time.
Travelers who have any uncertainty about the future of their personal employment may be covered by a policy with the Employment Layoff benefit. This benefit can refund their trip costs in the event of an unexpected and involuntary layoff or termination of employment. Like Financial Default, this benefit is included within four Tin Leg policies under the Trip Cancellation and Trip Interruption benefits.
Tin Leg is Here to Help During These Tough Times
At Tin Leg, customer service has always been our number one priority. Our number one goal as a company is to help all of our customers find the best coverage for their trip, for the lowest possible price. We will never recommend a policy to a traveler if we know it can’t cover their primary concerns.
We know travelers love to compare, when booking their trips and when considering their travel insurance options to protect their trips. During these difficult economic times, when it’s time to search for a travel insurance policy, it’s especially important that they find a policy with the exact coverage they need.
Our team will help guide travelers through our Whole Market Comparison Engine, comparing Tin Leg’s five policies to 90+ more from most other providers on the market. If a Tin Leg policy is not the right fit, travelers can compare them side-by-side with every other policy in our comparison engine, making it easier to find a policy with Financial Default or Employment Layoff coverage. When they have found the policy that is most suitable for their trip, they can purchase it directly through our website – whether it is a Tin Leg policy or a policy from another provider – creating a simple and efficient purchase process.
Who is Tin Leg?
Tin Leg was founded by the travel insurance experts at Squaremouth. Backed by Berkshire Hathaway Specialty Insurance Company and Starr Indemnity & Liability Company, Tin Leg offers six competitive products with optimal coverage, and has been internationally awarded for its in-house customer service team, revolutionary claims process, and state-of-the-art Whole Market Comparison Engine.
Contact Tin Leg’s Agent Team
To speak with a member of our Agent Sales Team, please contact us at 844-646-1507 or email agents@tinleg.com.