Will travel insurance cover loss of funds due to variations in exchange rates and transaction fees?

WindInHerHair

Hello, 
I can't seem to find any answer to this question on the internet or in the 'Cancelling a Trip' section of my travel insurance policy.
I hope someone can help.
Our trip to South Africa in July 2020 has been cancelled due to Covid19 and I am in the process of trying to reclaim as many costs as I can by contacting each independently booked accommodation provider/ airline company. We are not in a position to rebook or get a voucher. As several of the flights/ accommodation were paid for in local currency (ZAR), they are being refunded in local currency. We are losing hundreds of pounds due to the change in exchange rate since November 2019 when everything was booked and also the international transaction fees. I took out travel insurance with AXA in February 2019 so well before the March 11th cut off point. My question is will AXA cover the funds that we have lost due to refunds made in local currency? I have bank statements showing what we paid and what we have received back. The price variations are running up to £400 plus. Any advice would be much appreciated before I start a claim. Thank you!

bradders1983

No this has been asked before,  by the same token had you gained with the refund due to the exchange rate going the other way would you have given the difference back?

This is the perils of international currency exchange, some you win and some you lose.

Dox

WindInHerHair said:

Hello, 
I can't seem to find any answer to this question on the internet or in the 'Cancelling a Trip' section of my travel insurance policy.
My question is will AXA cover the funds that we have lost due to refunds made in local currency? 

If it isn't shown as one of the risks covered by your policy, it isn't covered.