It depends on when you purchased your policy, and when/where you catch it.
If you have not yet purchased a policy or purchased a policy or purchased a policy after 5:00 pm AEDT 23 January 2020 for trips to/from China, or 6.00am AEDT 31 January 2020 for other destinations, there is no coverage for Australian residents for Trip Cancellations related to COVID-19.
If you bought a policy before 5:00 pm AEDT 23 January 2020 for trips to/from China, or 6.00am AEDT 31 January 2020 for other destinations, if you catch COVID-19 while overseas and your doctor confirms you are medically unfit to travel, you may be covered for emergency medical expenses and related cancellation expenses, provided you were not in a ‘Do Not Travel’ region at the time and bought your policy before any symptoms appeared, the cut-off dates were publicised or you received treatment. If you bought your policy when you were already travelling, a 72 hour waiting period applies to your policy.
Remember that any impact related to you being quarantined as a precaution (as opposed to actually being diagnosed) may not be covered, as the policy does have a General Exclusion regarding prohibition by or regulation of or intervention of any government.
However, if you travel to a declared 'Do Not Travel' region anyway and contract the virus, you may not be covered. As soon as possible, contact any airlines or other organisation you have pre-booked with, and discuss refunds or rearrangement.
If you bought a policy before 5:00 pm AEDT 23 January 2020 for trips to/from China, or 6.00am AEDT 31 January 2020 for other destinations, and before you leave Australia:
If you’re unfortunate enough to be told by your doctor that you have contracted COVID-19 before you even leave on your trip while at home in Australia, there may be cover when cancelling your pre-booked, non-refundable arrangements, assuming you’re confirmed as unfit to travel by a registered medical practitioner, and as long as you purchased the policy before the publicised cut off date.
This benefit is not impacted by the imposed cut-off dates when it was first publicised that COVID-19 was a contagious disease or possible epidemic, as contracting the virus while in Australia would be considered as sudden, unforeseen, unavoidable and outside your control, unless you are failing to take appropriate precautions (e.g. sustained contact with individuals known to be diagnosed with COVID-19)
If you have to cancel your trip, contact the providers that you have booked through, and see if you are able to obtain a refund for your arrangements before you make a claim on your policy.
If you were experiencing any symptoms at all prior to purchase, then the COVID-19 would be considered a pre-existing medical condition, and the relevant exclusion would apply.
Along with other terms, the policy includes an exclusion for a change of mind, disinclination or reluctance to travel, so please read your policy carefully for full details.