Cancel for Any Reason: Is It Worth The Extra cost?
Posted on November 11th, 2016
A lot can happen between the moment you book your trip and the day you hop on the plane to start your journey.
With the Cancel for Any Reason option on your trip insurance, you won’t have to worry about changing your mind about traveling.
Some events you can control, while others leave you at their mercy. The unexpected illness, unforeseen natural disasters, or hospitalization of a family member…drastic events such as these are commonly covered under basic trip cancellation found in every comprehensive policy.
But what if the reason for wanting to cancel your trip isn’t so drastic?
That’s where Cancel for Any Reason (CFAR) comes in. Life throws us a lot of curve balls, and when you just can’t manage them all with an upcoming trip on the horizon, it’s nice to know that the CFAR benefit option has your back when you need to cancel.
Here’s how it works.
Trip Insurance: Cancel for Any Reason
When you purchase trip insurance you do get basic trip cancellation with most policies. However, the requirements for using this benefit are quite limiting:
Basic Trip Cancellation Covers These Situations:
- unexpected illness or injury (requires physician’s order)
- hospitalization or death of a family member
- unforeseen natural disasters
- legal obligations (like jury duty)
If you compare travel insurance across the board, you’ll find there is slight variation among policies, but in general that sums it up.
The CFAR optional upgrade, on the other hand, covers anything.
Here are the 3 rules for CFAR coverage:
- You must buy the CFAR coverage within 15 days of making your first deposit (this varies by policy).
- If you cancel, you must do so at least 48 hours prior to your trip.
- You must insure the full cost of all non-refundable prepaid trip arrangements.
Whatever your reason, CFAR covers you.
The CFAR option could save you a lot, especially if you’re about to buy international flight insurance. Basic trip cancellation won’t cover you if you suddenly get cold feet about visiting a country that’s had some political turmoil.
For example, in the wake of terrorist attacks in France in 2015, tourism dropped 10%. Travelers who didn’t feel safe visiting the area were able to cancel their trips- and those who had CFAR insurance were able to get refunds.
Basic trip cancellation policy would not cover you in that situation. Believe it or not, events like those that rocked Paris and killed may people do not qualify as reasons for coverage under basic trip cancellation policies.
But with CFAR you don’t even need a reason as extreme as terrorist attacks. The Cancel for Any Reason benefit is “no questions asked”! As long as you follow the three rules outlined just above, you’ll get reimbursed for a percentage of your prepaid, non-refundable payments or deposits.
Whether it’s a sick pet, full-blown civil unrest, or something as simple as a black cat crossing your path the week before your trip, upgrading to CFAR means you can cancel your plans, get reimbursed, and not lose your hat in the process. Come to AardvarkCompare.com to see which of our 40+ travel plans is right for you.