Travel Insurance FAQ
What is Cancel For Any Reason Coverage?
Some travel insurance plans offer cancel for any reason coverage. This benefit is different than trip cancellation, which requires that the trip be canceled for a covered reason listed in the policy.
Cancel for any reason literally means that the trip can be canceled without providing a reason. However, the traveler will not be reimbursed 100% of the trip cost, like trip cancellation, rather a lesser percentage would be reimbursed, normally 50% – 90% depending on the plan.
This benefit is normally only available for a short amount of time from the initial deposit date. In most cases within 14 days of deposit, but it can be anywhere from 24 hours – 30 days.
Usually, cancel for any reason is a selectable option which will raise the cost of the premium by about 40% .
In order to have a payable claim with cancel for any reason, the trip must be canceled at least 48 hours prior to departure.
Always refer to the certificate of insurance for details.