‘Cancel for any reason’ coverage amounts vary depending on the individual plan rules and are sometimes subject to cancellation penalties. A cancellation penalty is the amount the travel supplier will not refund you – that is, your penalty – if you have to cancel. The cancellation penalty determines the percentage that travel insurance will reimburse less the amount refunded by your travel supplier.
TravelSafe Classic Penalty Schedule
|If the cancellation penalty is up to:||the amount payable is:|
|25% of trip cost||100% of penalty amount|
|26-50% of trip cost||85% of penalty amount|
|50% or more of trip cost||75% of penalty amount|