ST. PETERSBURG, Fla. June 25, 2020 — In response to the unpredictable state of travel, Cancel for Any Reason travel insurance policies are in high demand, with a 415% increase in purchases, according to travel insurance comparison site Squaremouth.com.
Before spending the additional 40-50% it costs to acquire this extensive coverage, Squaremouth.com shares four tips travelers should know prior to filing a Cancel for Any Reason claim.
Accepting Vouchers or Credits Can Affect Claim Amount
Many travel suppliers are offering credits or vouchers to travelers impacted by COVID-19. Once a traveler accepts a credit or voucher, they can no longer claim that amount on their travel insurance. However, if they only receive a partial credit for their trip or have outstanding expenses, they can claim for the remaining amount.
Keep Booking Documentation
Despite Cancel for Any Reason’s lenient coverage, documentation will still be required when filing a claim. Since this upgrade is time-sensitive and typically requires that travelers insure 100% of their trip cost, documentation that shows the date the trip was booked and the total cost of the trip will be necessary.
Don’t Cancel Last Minute
Trips protected with Cancel for Any Reason coverage must be canceled 2-3 days prior to departure. If a traveler waits and cancels their trip last minute, they may not be eligible for any refund under the Cancel for Any Reason benefit.
Don’t Expect a Full Refund
While Cancel for Any Reason policies give travelers the ability to cancel their trip for reasons not covered by a standard policy, they will only provide a 75% refund of the insured trip cost.
For regularly updated information about Covid-19 and travel insurance, please visit our Covid-19 travel insurance information hub.
Notes to editors
Available Topic Expert: Megan Moncrief, Chief Marketing Officer, is available for comment and interview. email@example.com (727) 378-0938
About Squaremouth: Squaremouth.com has insured over 2 million travelers. Using Squaremouth’s intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.