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How will coronavirus affect my insurance, energy bills and mortgage?

The COVID-19 pandemic is likely to continue to affect our personal finances and many people’s health. Find information on common questions and concerns.

Written by

Tom Harrison

Insurance expert

Posted

25 MAY 2021

5 min read

Coronavirus and travel insurance

Whether you’re thinking of travelling abroad or enjoying a staycation in the UK, it’s more important than ever to make sure you have the right cover.

Does my travel insurance cover COVID-19?

Some providers have restricted cancellation and travel disruption cover in policies bought after COVID-19 was declared a pandemic on 11 March 2020.

At Compare the Market, the policies we show you may cover claims related to COVID-19 for emergency medical and repatriation costs in line with your chosen policy. But other types of claims related to COVID-19, such as cancellation, vary by provider, so check your policy before buying.

You can now compare policies that offer enhanced COVID-19 cover. If you’re looking for this, tick the box on the results page.

See more on coronavirus and travel insurance

Also remember that rules on local and international travel are constantly changing, so it’s essential to check Foreign, Commonwealth & Development Office advice before you book and travel.

Coronavirus and mortgages

What should I do if I can’t pay my mortgage because of coronavirus?

If you’re experiencing difficulties paying your mortgage because of the impact of coronavirus, you might be able to get help from your lender.

Find out more about mortgages and coronavirus

Renting and coronavirus

While tenants may face financial uncertainty, they should continue paying their rent to the best of their ability, as well as comply with any other terms within their tenancy agreement. If a tenant is unable to pay their rent, they should contact their landlord as soon as possible.

Energy bills and coronavirus

The government has put measures in place to help ensure vulnerable people don’t face hardship in heating and lighting their homes during the pandemic.

See what to do if you’re having problems paying your energy bills

Check out our energy saving tips

Coronavirus and car insurance

The way you drive, insure and maintain your car might be changing during the pandemic.

For information about the impact of COVID-19 on your car insurance and more, see our coronavirus and motoring FAQs.

Coronavirus and home insurance

Will working from home affect my home insurance?

You may be working from home because of the pandemic. This shouldn’t affect your home insurance if you’re just doing clerical or admin work. Normally, you would need to tell your insurance provider if you were working from home regularly. However, the Financial Conduct Authority (FCA) has stated that it expects insurance firms to treat customers fairly and not see their ability to claim affected by circumstances over which they have little control.

Business insurance and coronavirus

Is coronavirus covered by business insurance?

Business interruption insurance is typically designed to cover businesses that are forced to stop trading, because of physical damage or natural disaster. Compensation for viral outbreaks, such as coronavirus, are not likely to be covered, unless these types of diseases are specifically listed in your policy.
 
Please check your policy documents carefully and contact your insurance provider to find out if you’re covered.

See more on coronavirus and business insurance

Coronavirus and broadband

Many broadband switches will continue to be unaffected by the coronavirus pandemic. If you’re looking to upgrade your broadband for home working or to save with a better deal, switching provider should remain relatively hassle free. 

If you’re unsure about your potential switch, it’s best to contact your existing and potential broadband providers for more information.

See more on broadband switching during the coronavirus outbreak

Life insurance and coronavirus

Does life insurance cover COVID-19?

Many existing life insurance policies could pay out for COVID-19 if you die from the disease, provided you completed the application truthfully at the time. It’s not one of the standard exclusions most insurance providers apply, so you could be covered. 

However, since the SARS outbreak, some insurance providers have introduced new exclusions around pandemics, which means you should check your policy carefully. If you remain unsure, please contact your insurance provider.

See more on coronavirus and life insurance

Health insurance and coronavirus

Does health insurance cover COVID-19?

Thankfully, most people with COVID-19 recover quite quickly and don’t require hospital treatment. However, if you feel you need treatment for coronavirus, you should get in touch with your insurance provider to find out if you can make a claim.

See more on coronavirus and health insurance