Travel Insurance Money Back Guarantee

What is a Travel Insurance Money Back Guarantee?

A travel insurance Money Back Guarantee, also known as a Free Look Period, is a period of time after purchase in which a policyholder can cancel their policy for a full refund.

Almost all travel insurance policies include a Money Back Guarantee window, which typically lasts for 10 to 15 days or until your scheduled departure date. If you cancel your policy within this timeframe, you’ll be refunded your premium payment minus any applicable administrative fees.

The purpose of a Money Back Guarantee is to provide travelers with an opportunity to review their insurance coverage and decide if the policy they purchased is right for them.

FAQs: Travel Insurance Money Back Guarantee

How Long Is a Money Back Guarantee Window?

The majority of travel insurance policies will give you 10 to 15 days to review your coverage and cancel for a full refund. However, this is not the case for all plans.

Some travel insurance days have much shorter Money Back Guarantee windows, as low as 3 days after purchase. Others are more generous, allowing policyholders to cancel for a full refund up until the day before their policy’s effective date.

To view the duration of a specific plan’s Money Back Guarantee period, you may review the list at the bottom of this page or reference the individual policy’s Certificate of Insurance.

How to Cancel Your Travel Insurance Policy

The best way to cancel your policy during the Money Back Guarantee window is to contact your travel insurance provider directly. Your provider will be able to ensure your policy is canceled and provide you with information regarding your refund.

You’re still able to cancel your policy for any reason outside of your Money Back Guarantee window, however you will likely not be eligible for a full refund.

How Long Does It Take to Receive My Refund?

Once a policy has been canceled within the Money Back Guarantee window, your insurance provider will begin the refund process. Your refund will typically be credited to your original form or payment, such as a credit card, unless specified otherwise.

The amount of time the refund payout will take to process will depend on the type of refund that is issued and your specific insurance provider.

Please be aware that coverage and eligibility requirements for this benefit differ by policy.

Looking for a policy with Money Back Guarantee coverage?

Enter your trip information on our custom quote form. Once you receive your results, select the Money Back Guarantee filter to find the best policy for your trip with the coverage that you need.