World Health Organization (WHO) acknowledged that China has the most Coronavirus cases confirmed, and outside of China many more cases are being reported daily. WHO suggested that containment might not be possible and everyone should be more aware of their surroundings.

If you are thinking, should you postpone or cancel travel because of coronavirus, you are not alone. The answer is not a simple yes or no.

For certain destinations, the answer is a definite yes; others, a possible no. Do that note that many destinations are becoming a maybe as new cases are being reported daily, sometimes hourly. It really boils down to your risk tolerance. One major point to remember is that if you get the flu while traveling, you could end up being quarantined because the early stages of flu symptoms are very similar to those of Coronavirus (Covid-19).

If You’re Going to Travel, Consider Getting “CFAR” Travel Insurance
CFAR stands for “Cancel For Any Reason” and is the only coverage option available to cover issues brought on by the coronavirus. It is an add-on to your regular travel insurance purchase, and it ensures that travelers receive a refund of 50-75% of their insured non-refundable and pre-paid trip costs if they need to cancel for any reason.

Standard travel insurance policies will not refund a trip cancellation due to fear of contracting the virus. Since the virus is spreading so rapidly, your dream vacation could suddenly become a Level 3 Warning area and you’d be out of luck if you do not have a CFAR policy.

CFAR Isn’t Cheap
Your standard CFAR policy will cost between 7-10 percent of the insured trip cost and add 40-60 percent more to the overall cost of your policy. But compare that to losing thousands of dollars by having to cancel your vacation because the region suddenly became quarantined due to the virus.

CFAR Policy Restrictions
Depending on the policy, it must be purchased within 10-21 days of your first trip payment to be eligible for this upgrade. You must also insure 100% of your pre-paid and non-refundable trip costs, and cancellation must occur 48 to 72 hours before date of departure. Keep in mind, the maximum reimbursement will be 50 to 75 percent of the cost of the trip, depending on the plan.

Finding Your Best CFAR Policy
Compare plans from different providers to explore options. You’ll want to compare overall coverage limits, per-person coverage limits, penalty/coverage percentage, and deadlines (48 hours vs 72 hours, etc.).