Cancel for Any Reason Travel Insurance – Review

Cancel for Any Reason Travel Insurance allows a traveler to cancel for any reason whatsoever, and still receive a significant refund. This type of trip insurance protection offers near-unlimited protection against cancellation, and still returns 75% compensation with the best Cancel for Any Reason Travel Insurance policies.

Cancel for Any Reason Travel Insurance | AardvarkCompare.com

Those of us who live unpredictable lives often need the ability to Cancel for Any Reason – and then get refunded. Let’s take a look.
Please enjoy our Cancel for Any Reason Travel Insurance Review.

Cancel for Any Reason Travel Insurance – Basic Cancellation Benefits

Trip Cancellation Protection Coverage is embedded into every comprehensive travel insurance policy. It provides you with financial protection. With this regular trip cancellation coverage, you are reimbursed for expenses associated with airfare and other non-refundable deposits that you’ve paid towards your trip. This basic trip cancellation coverage is comprehensive and will cover cancellations, such as:

  • Accident, illness, or death of you, a traveling partner, business partner, or family member
  • Jury duty
  • Legal appearance
  • Traffic accident en route to airport
  • Death or hospitalization of your host at your travel destination
  • Weather
  • Job loss
  • Bankruptcy of your travel provider

It will provide a 100% Refund – this is really healthy coverage.

However, as you can see, there is not a great deal of flexibility. These are limited protections, in so far as the reasons for trip cancellation do not happen very often, thank goodness.

If we are searching for more protection, then we need to add different levels of trip cancellation protection.

If you buy Cancel for Any Reason Travel Insurance you will certainly have the maximum level of cancellation protection. But, this is a relatively expensive cover. So, before you go ahead and buy Cancel for Any Reason travel insurance, let’s take a look to see if Cancel for Work Reasons travel insurance will suffice. This protection is less expensive than full blown Cancel for Any Reason cover.

Cancel for Work Reasons Travel Insurance

You do not need to buy Cancel for Any Reason Travel Insurance if all you are trying to do is protect yourself from a work cancellation of vacation. Cancel for Work Reasons Travel Insurance should offer 2 distinct benefits.

The first is that there is protection in the event that an employee is made redundant or laid-off. Typically, there is a requirement that the employee is let go without fault. The second requirement is that the employee will have needed to have worked for a minimum amount of years in order to be able to make a claim. The best cancel for work reason policies only require 1 year of continuous service. That is what you should see when you find a policy at AardvarkCompare. However, we have noticed a trend that every Allianz Airline Travel Insurance has a requirement for at least 3 years of continuous service in order to activate Cancel for Work Reason cover due to redundancy. This is a big difference and may make the difference between being covered, and having no redundancy protection at all.

The second benefit that should exist if you buy Cancel for Work Reasons Travel Insurance is work-vacation cancellation. It works like this – if you have pre-approved vacation that is subsequently cancelled, you can claim cancellation benefits under your Cancel for Work Reasons cover. This will require a letter from your HR department, of course. Rarely do we see a policy that covers those people who are self-employed, so do make sure that you are protected given your personal work circumstances.

Policy Language

Here is the policy language that you should expect to see with Cancel for Work Reasons cover:

You, Your Traveling Companion or a Family Member traveling with You is required to work during the Trip. A written statement by an unrelated company official and/or the human resources department demonstrating revocation of previously approved time off will be required. This provision is not applicable to temporary employment, independent contractors or self-employed persons.

But, what if you just change your mind? Decide that you no longer want to go on your trip?
The conference could be cancelled, the reunion delayed, the wedding cancelled.

Basic Cancellation Cover is not going to offer any protection. Neither is Cancel for Work Reasons.
Ultimate cancellation protection will come from a trip insurance policy with Cancel for Any Reason protection embedded into it.

Cancel for Any Reason Trip Insurance – Introduction

Cancel for Any Reason coverage really is the most comprehensive coverage that can be obtained. It allows you to cancel, without reason, anytime up to 48 hours before departure, and receive a refund.

Now, this is only a 75% refund – not as healthy as the regular 100% refund obtainable with regular cancellation. But given the circumstances, where a traveler needs to give no reason at all, we think that Cancel for Any Reason Insurance is a pretty amazing benefit to have incorporated into coverage.

In many countries this benefit is not available – the USA leads the way with the provision of this type of coverage.

Cancel for Any Reason Insurance – Small Print

As of the time of writing only 2 of our Travel Insurance carriers will let you buy Cancel for Any Reason Travel Insurance. Travel Insured International have their excellent Worldwide Trip Protector Plus plan. iTravelInsured have their Travel LX plan. Each of these is a true Platinum Plan, in that each has the highest levels of possible coverage that each Trip Insurer offers. It is worth reviewing each policy.

Worldwide Trip Protector Plus

Note the comprehensive nature of this policy as we review the benefit levels.

Time Sensitive Benefits

  • Cancel for Any Reason: 75% Refund
  • Cancel for Work Reason: 100% Refund
  • Pre-Existing Waiver: Yes
  • Time Sensitive Period: 21 Days
  • Free Look Period: 14 Days
  • Pre-Existing Look Back: 60 Days

Regular Benefits

  • Medical Cover: Primary
  • Hospital of Choice: Yes
  • Covered Cancellation: 100% Refund
  • Financial Default: Yes
  • Medical Sickness: $100,000
  • Medical Evacuation: $1,000,000

The best Cancel For Any Reason Travel Insurance is going to offer a 75% refund in the event of a claim. The Worldwide Trip Protector Plus provides protection at this level. We have never seen a policy that offers more than 75% cover, so this rates as an excellent option.

Remember, you have a Free-Look Period of 14 days. You can buy your policy, and then get a full refund within 14 days if you wish to cancel it, assuming you have not put in a claim already.

Worldwide Trip Protector Plus Cancel for Any Reason Provisions

It is important to note the caveats within the policy document so as to ensure that you get the protection you need once you buy Cancel for Any Reason Trip Insurance.

If You cancel Your Trip for any reason not otherwise covered by this Policy, benefits will be paid for

75% of the Prepaid, forfeited, non-refundable Payments or Deposits You paid for Your Trip provided:

  1. a) Your Payment for this Policy and enrollment form are received within 21 days of the date Your initial Payment or Deposit for Your Trip is received;
  2. b) You insure 100% of the Prepaid Trip costs that are subject to cancellation penalties or restrictions and also insure within 21 days of the Payment or Deposit for those Travel Arrangements the cost of any subsequent Travel Arrangements (or any other Travel Arrangements not made through Your travel agent) added to Your Trip; and
  3. c) You cancel Your Trip 48 hours or more before Your Scheduled Departure Date.

Insure the Entire Non-Refundable Trip Cost

You need to insure every part of your trip that is non-refundable. Imagine you are taking a flight and then staying in a hotel. Well, if the hotel does not have any deposits, or any non-refundable costs, then you don’t need to insure it. Just insure the flight.

Alternatively, if you were taking a flight and a cruise your insurance requirements may be different. The cruise may have been pre-paid and totally non-refundable. In this case, the cruise costs would need to be included in the insured amount. It is not as complex as this sometimes sounds. Remember as well, you can always call us and speak to an insurance agent. They will walk you through the calculation and booking process if your circumstances are a little complex.

21 Days from Initial Trip Deposit – Critical

You have 21 days from your initial trip deposit to buy your trip insurance if you want the Cancel for Any Reason protection to be in place. In any Cancel for Any Reason Travel Insurance review that we make, we always try to emphasize this point. The initial trip deposit date is super-important. You have plenty of time – 21 days, to get the policy in place.

This is easy for people who are only looking for protection for an airline flight. Where we sometimes have problems is when a traveler makes a small deposit for something like a cruise, months, or even years in advance. When it comes to pay the bulk of the remaining costs of the trip, they begin to ask is Cancel for Any Reason Travel Insurance worth it? Well, it’s too late to get this protection, unfortunately. They should have got the cover in place when they first made their initial deposit for the Cruise.

This seems a little silly – sometimes the deposit is only a few hundred dollars on a cruise that can cost thousands. It doesn’t matter. Buy Cancel for Any Reason Trip Insurance there and then. As you make additional payments towards the cruise, just re-contact the Travel Insurer and add extra premium. This way, you are fully covered.

Cancel with at least 48 Hours Notice

Don’t leave it until the last minute to cancel your trip and hope for compensation. Each carrier will have very similar policy language – you need to have cancelled the trip with at least 48 hours notice in order to benefit from Cancel for Any Reason protection.

iTravelInsured Travel LX

The iTI Travel LX is a formidable policy. The benefits are vast and include Cancel for Any Reason cover.

Time Sensitive Benefits

  • Cancel for Any Reason: 75% Refund
  • Cancel for Work Reason: 100% Refund
  • Pre-Existing Waiver: Yes
  • Time Sensitive Period: 20 Days
  • Free Look Period: 10 Days
  • Pre-Existing Look Back: 60 Days

Regular Benefits

  • Medical Cover: Primary
  • Hospital of Choice: Yes
  • Covered Cancellation: 100% Refund
  • Financial Default: Yes
  • Medical Sickness: $500,000
  • Medical Evacuation: $1,000,000

iTI Travel LX Cancel for Any Reason Provisions

Cancel for Any Reason Benefit

If You cancel Your Trip for any reason not otherwise covered by this Policy, benefits will be paid for seventy-five percent (75%) of the Prepaid, forfeited, non-refundable Payments or Deposits You paid for Your Trip provided:

(a) Your Payment or Deposit for this Policy and enrollment form are received twenty (20) days of the date Your initial Payment or Deposit for Your Trip is received; and;

(b) You insure one hundred percent (100%) of the Prepaid Trip costs that are subject to cancellation penalties or restrictions and also insure within twenty (20) days of the Payment or Deposit for those Travel Arrangements the cost of any subsequent Travel Arrangements (or any other Travel Arrangements not made through Your travel agent) added to Your Trip; and

(c) You cancel Your Trip two (2) days or more before Your Scheduled Departure Date. These benefits will not duplicate any other benefits payable under the Policy or any coverage(s) attached to the Policy

Worldwide Trip Protector Plus vs. iTI Travel LX

The policy language is very similar to that used by TII. The few differences are – you have 20 days to get your trip insurance in place in order to benefit from Cancel for Any Reason protection. TII had 21 days.

And, you have only a 10 day ‘Free Look’ Period, to hand the policy back for a full refund, should you change your mind. TII had 14 days.

Of note is that the Travel LX has substantially more travel medical protection than the Worldwide Trip Protector Plus policy. $500k versus $100k. Now, we are comfortable with $100k of medical protection coverage in general. But, if the price of these two policies was within a few dollars, we would certainly prefer to take the Travel LX policy, simply for the benefit of the additional travel medical insurance protection.

Which Cancel for Any Reason Travel Insurance Policy Should I Buy?

Which of these two excellent policies should you choose? Well, please understand that it is rare to find cheap Cancel for Any Reason Travel Insurance. It is an expensive benefit, and tends to be rolled into the most comprehensive policies that an insurer offers. However, each insurer will have different prices from each another. One insurer will be cheaper than another on some quotes; another will be cheaper on others. It will all depend on the circumstances of your particular trip. They all have their own way of calculating premium. So, it is always worth running a quote every time any aspect of your trip changes. Remember, with AardvarkCompare, you are always getting multiple quotes from different travel insurers every time you work with us. We like get at least a dozen options for our customers to choose from.

Take the time to look at the benefit levels and costs associated with them.

Cancel for Any Reason Insurance – Airline & Travel Sites

We always recommend that you check the small print of any airline travel insurance policy that you are offered. Every Airline Travel Insurance cancellation benefit that we have seen looks incredibly limited, and no Airline Trip Insurance offers Cancel for Any Reason Insurance coverage. You will almost certainly find better coverage at a lower price if you spend a few minutes searching. Airlines such as Delta and United offer limited, yet expensive trip protection plans. Always compare what they are offering against the general travel insurance market. And, please, always check their small print.

Finally, sites such as Expedia have truly awful trip protection. The worst travel insurance plans that we have ever seen were sold by Expedia. Please be very careful before going ahead with a purchase from them. Again, Expedia does not have any policy available with Cancel for Any Reason protection.

Cancel for Any Reason Insurance – Airline Ticket Hack

One way that these additional cancellation benefits can be used is to reduce the cost of airline tickets. Instead of booking Flexible or Refundable airline ticket, book a Non-Refundable, and then add some Cancel for Any Reason Travel Insurance. It’s very clever, and certainly worth spending a little time reviewing. We have called this the Airline Ticket Hack.

As always, at AardvarkCompare we recommend that a travel consider travel insurance. You can get an anonymous quote in seconds, and compare a dozen of the top travel plans from many of the largest US travel insurers. You should save time and money finding the right travel insurance plan for your needs.

What many people do not know is that they won’t find the same trip insurance plans available at a better price – all down to price certainty anti-discriminatory law in the US.
Travel Insurance Comparison – Will I Pay More Buying Travel Insurance from a Comparison Website?

In short – the price of a trip insurance quote for an insurance plan that you see from AardvarkCompare is the same price you would see from the insurance carrier direct. We are not allowed to compete on price for ‘filed’ insurance products. No one is. You are certain to get best value from us.

Safe Travels.

 

 


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