AMERIPRISE

What to Know as You Consider Travel Plans Today

By James M. Richardson, CFP, ChFC, APMA

For many who love to travel, the onset of the COVID-19 pandemic has been tough. While vaccines give us hope that the crisis will ease, traveling still requires careful planning. Here are some important considerations.

Check Requirements to Travel Destinations Currently, a number of countries and select U.S. states require proof of a negative COVID-19 test in the preceding 72 hours in order to enter. Many planning overseas travel will be required to get a COVID-19 test in order to return home.

Being vaccinated generally does not alter the requirement to be tested first. If you’ve contracted COVID-19 within three months of your trip and are no longer symptomatic, you may not be required to get a test to re-enter the U.S. Take the time to explore the rules for your intended destination.

Note Airline Cancellation Policies The current environment increases the chance of altering plans at the last minute. Many airlines offer greater flexibility to deal with cancellations and changes than was the case prior to COVID-19. Check with your carrier to understand their rules. While you may not be able to collect a refund, many airlines will allow cancellations and apply what you paid toward rebooking a different flight, or offer a voucher for future travel. As you make plans, consider your willingness to fly with the same airline again to take advantage of this flexibility.

Reservations for Accommodations Major hotel chains and some services that allow you to reserve private rooms or properties may be more lenient these days when it comes to potential refunds, but check the reservation terms before locking in to know whether fees apply toward cancelling or cutting your trip short.

Travel Insurance Given the added flexibility to rebook flights and cancel hotel reservations, that aspect of travel insurance may be less important today than it was prior to COVID-19. Yet some form of travel insurance may make sense, and medical coverage can be particularly important for overseas travel. Be aware that typical trip insurance won’t include coronavirus as a “covered reason” for cancellation. That may require a “cancel for any reason” policy. Be sure to understand the policy terms before you go. Staying Stateside Given the complications associated with airline and overseas travel, you might prefer car travel in the coming months. It can help limit your contact with larger groups, and most large chain hotels emphasize providing a safe environment. If you plan to vacation in the U.S. and have flexibility with time, driving may be simpler.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2021 Ameriprise Financial, Inc. All rights reserved.

James M. Richardson, CFP®, ChFC®, APMA®, is a Private Wealth Advisor and CERTIFIED FINANCIAL PLANNER™ practitioner with Richardson Private Wealth Advisors, a private wealth advisory practice of Ameriprise Financial Services.

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