The spread of the coronavirus has left many travelers wondering what to do with upcoming travel plans. And while many of us are still traveling (as smartly as we can) the “to cancel or not to cancel” dance, for most, ultimately boils down to insurance—and how to protect our travel plans amid such uncertainty.
Talk about cancel-for-any-reason (also known as CFAR) insurance has been bubbling up these past few weeks. Most will tell you it’s the only insurance that will cover you at a time like this. Before you hit purchase, here’s a little more on what CFAR insurance is, how it really works, and what you need to consider before buying any travel protection right now.
What is cancel-for-any-reason travel insurance?
Cancel-for-any-reason is a type of protection that you can opt into when purchasing travel insurance. While most travel insurance policies are inherently designed to protect you against the unexpected (like weather or lost luggage), cancel-for-any-reason means you can do just that: cancel for any reason.
“Anything coronavirus-related is not going to be covered under a standard travel insurance cancellation plan,” says Stan Sandberg, the co-founder of TravelInsurance.com. Sandberg nods to government travel warnings, or the pure existence of a epidemic or pandemic, as trip cancellation reasons that are not covered under most travel insurance policies. “If you’re in the process of booking a trip, or have recently booked a trip, CFAR [is the only type of insurance that] can offer some measure of coverage.”
Keep in mind that CFAR is not a stand-alone insurance plan. CFAR is typically offered as an upgrade to premium travel insurance plans, or baked into larger premium plans, so you’ll notice it further down the funnel when comparing plans on a site like TravelInsurance.com or Squaremouth.
These policies can provide peace of mind, especially if you’ve shelled out big for an upcoming trip or have certain medical conditions.
Read the full MSN Travel article online here: https://www.msn.com/en-us/travel/tips/everything-you-need-to-know-about-cancel-for-any-reason-travel-insurance/ar-BB10X8nC