Nationwide FlexPlus travel insurance to cut Covid-19 cover
UK bank Nationwide will reduce the cover within its FlexPlus travel insurance for cancellation due to Covid-19
Under changes to FlexPlus cover that will apply to all trips booked from January, a new Foreign Office warning against travel will no longer be sufficient grounds for a cancellation payout.
Under the changes announced by Nationwide, policyholders will no longer be covered in the following scenarios:
- If the Foreign Office brings in new advice against all travel, or all but essential travel, to the customer’s destination.
- If anyone covered under the policy can't travel because they’ve been told to self-isolate but aren’t tested positive.
- If the pre-booked accommodation goes into local lockdown.
However, the policy still covers the following situations:
- Cancelling a trip if the insured person, a close relative or travelling companion is diagnosed with coronavirus.
- Emergency medical expenses abroad if the insured person is diagnosed with Covid-19 while on their trip.
- Cutting a trip short due to a change in Foreign Office advice, as long as policyholders weren’t aware of this advice when they travelled.
- Cutting a trip short if the person is unable to stay in pre-booked accommodation due to Covid-19, as long as they weren’t aware of this when they travelled.
Cancellation cover is something that travellers are certainly looking for, and more insurers have been working to include this in their policies in recent times. At a time when travel advisories change frequently and at short notice, this type of cover is only going to get more sought-after, but whether it’s sustainable for insurers to offer it, is clearly in question.