Want coverage no matter what happens? Buy “cancel for any reason” coverage
If you want cancellation coverage no matter what happens, some travel insurance companies offer policies with an optional “cancel for any reason” clause. This lets you cancel your trip, no matter what the reason, and receive 75% of the non-refundable trip cost.
“Cancel for any reason” coverage is a new product that gives travelers more flexibility
This is a relatively new product to come to the market, and it shows how travel insurance companies are tailoring their products to the customer’s needs. Two companies offer policies with “cancel for any reason” options: Travelsafe and M.H.Ross, who operates Tripinsurance.com.
Coverage costs extra, but provides peace of mind
Cancel for any reason coverage costs extra money, but many travelers like the flexibility of being able to cancel their trip without taking a total loss financially.
Cancel for any reason coverage will pay 75% of the non-refundable trip cost. Even though it is only partial refund of payments, it is better than a total loss, and many travelers spend the extra money for the peace of mind.
Be aware of the small print with “cancel for any reason” coverage
There are some conditions for cancel for any reason policies. This policy option covers 75% of the non-refundable trip costs. Cover requires that:
- the plan be purchased within 15 days of the trip deposit
- you select the “cancel for any reason” option when purchasing the policy
- all pre-paid, non-refundable trip costs are insured
- your trip is canceled 2 days prior to the departure date