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Cancel for any reason travel insurance allows the person to cancel the trip for any reason and get a refund of the trip cost. However, it is not really any reason, any time, full refund unconditionally and no questions asked. There are some restrictions, as described below.
Regular trip cancellation insurance plans allows you to cancel your trip for covered reasons such as your sickness, death in the family, destruction of house, etc. However, cancel for any reason travel insurance plans provide trip cancellation for any other reason otherwise not covered by the travel insurance. Even though it may cost extra to upgrade the travel insurance to cancel for any reason, it is money well spent.
In order to get the trip cancellation coverage under the cancel for any reason travel insurance, certain conditions must be met. Of course, the exact conditions vary based on the insurance plan that you purchase.
You must purchase the insurance within a certain duration of your initial trip deposit – varies from 24 hours to 21 days. If you make any additional payments that were not already included in the initial trip cost, you must purchase the additional insurance within the same duration constraints.
You must insure all your pre-paid trip costs. Please note that this is not only the non-refundable portion of your pre-paid trip cost, but the entire pre-paid trip cost that is subject to any penalty before your departure date.
E.g., if you prepaid $3,000 for an airline ticket, but they would only charge you $400 as the penalty for canceling it, your trip cost would be $3,000 and not $400.
You must cancel your trip at least 2 days or 48 hours in advance. (Of course, if you develop any other covered reasons for regular trip cancellation any time before you depart, you can still cancel your trip and get up to 100% of your non-refundable trip cost back.)
The percentage amount you get back may vary from 50% to 75%, and depending upon the penalty percentage, the actual amount you get back may vary.
There are many common reasons, as described below, for which people need to cancel their trip. However, they are not covered by the regular trip cancellation insurance. Therefore, cancel for any reason travel insurance would be helpful in such cases.
You simply change your mind and you decide not to go for any or no reason.
You are unable to get the passport and/or visa in time before your travel dates. Sometimes, you already have the passport and you apply for the visa in time, but it is denied.
Your leave is cancelled at the last moment, your business meeting is cancelled or the company decided to send someone else other than you on the trip. Or you just switched jobs and your new boss would not allow you to take any time off from work so soon.
You feel that it would be too hot or too cold at the place you would be visiting and you would not enjoy it as much as you originally thought.
Your child insists that you celebrate their birthday or your cousin's wedding is scheduled during the time you were planning to be on vacation.
Recent developments in the country of your destination makes you nervous to travel to that country.
You find out that there is an epidemic (such as H1N1 flu etc.) in the area you were planning to travel to and you are just afraid to go there.
Your pet is sick, you broke up with your girlfriend that you planned to take trip with or similar reasons.
Of course, you can also cancel your trip for any other reasons not described above.
| Claims Administrator | Plan | Option | Rules | Maximum Refund Amount |
|---|---|---|---|---|
| International Medical Group | Travel LX | Optional upgrade: 1.5 times the plan cost | Purchase within 20 days of initial trip deposit Insure 100% of pre-paid trip costs | 75% |
| Trawick International | Safe Travels First Class | Optional upgrade: 1.7 times the plan cost | Purchase within 14 days of initial trip deposit Insure 100% of pre-paid trip costs | 75% |
| Trawick International | Safe Travels Voyager | Optional upgrade: cost varies by state | Purchase within 21 days of initial trip deposit Insure 100% of pre-paid trip costs | 75% |
| Trawick International | Safe Travels Journey | Optional upgrade: cost varies by state | Purchase within 14 days of initial trip deposit Insure 100% of pre-paid trip costs | 50% |
| Travelex | Travel Select | Optional upgrade: 1.4 times the plan cost | Purchase within 15 days of initial trip deposit. Insure 100% of pre-paid trip costs | 75% |
Trip cancellation can occur only before you depart on your trip. Once you have departed, there is no trip to be cancelled. However, trip interruption can occur while you are on the trip and you need to cut it short.
It is very important to understand that just because you have purchased the cancel for any reason, you don't get to interrupt your trip for any reason. In other words, cancel for any reason applies only to trip cancellation and not to trip interruption.
Just because cancel for any reason travel insurance exists does not mean that you can buy the travel insurance when you already need to cancel your trip. There are several time constraints and rules that you must follow, as described above, in order to get the cancel for any reason travel insurance.
That means, if you waited too long, and if the reason for which you would like to cancel the trip has already occurred, you can not attempt to buy the travel insurance just to collect the money. No travel insurance works like that.
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