Cancel for Any Reason Travel Insurance - 2020 Review
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, like an unexpected illness, unforeseen natural disasters, or hospitalization of a family member.
Every comprehensive Trip Cancellation policy covers these stressful events, but what if you want to cancel your trip for something not so drastic? Your dog is injured, you're afraid you might get sick, or your family member calls off the wedding?
That's where Cancel for Any Reason (CFAR) shines.
Life throws us a lot of curveballs, and when you just can't manage them all, 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 travel insurance, you receive basic trip cancellation with most policies. Sometimes, 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.
There are the three rules for Cancel for Any Reason cover:
- You must buy the CFAR cover within 14-21 days of making your first deposit (this varies by policy).
- If you cancel, you must do so at least 48 hours before your scheduled trip departure.
- You must insure the full cost of all non-refundable prepaid trip arrangements.
Whatever your reason, Cancel for Any Reason covers you
The CFAR option could save you a lot of money, 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 or a pandemic outbreak.
For example, in the wake of the terrorist attacks in France in 2015, tourism dropped 10%. Travelers who didn't feel safe visiting canceled their trips, and those who owned CFAR insurance received refunds.
Another good example occurred in 2020 when travelers were afraid to visit areas with Coronavirus outbreaks. Others faced travel bans.
Standard trip cancellation would not cover you in those situations. Believe it or not, events like those that rocked Paris and killed may people do not qualify as covered reasons 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 receive reimbursement for a percentage (usually 75%) 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 have cancellation flexibility. You can receive a refund and not lose your hat in the process.
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