April 3, 2020 - Beckah Ripley
Last Updated on 3/15/2021
Most comprehensive travel insurance policies include a coverage called Trip Cancellation that protects 100% of your insured non-refundable amounts should you need to cancel your trip due to a covered event. So what qualifies as a “covered event”? Some examples would be:
Well then, what isn’t covered by standard trip cancellation coverage? The most recent COVID-19 pandemic is a perfect example. Pandemics and epidemics are generally exclusions under most travel insurance policies. Therefore, if you’re unable to go on your trip due to a recent travel ban that resulted due to a pandemic outbreak, you’ll likely not be covered for cancellation unless you have a specific type of cancellation coverage called “Cancel for Any Reason”.
Other travel concerns like canceling due to travel advisories, travel bans, mandatory quarantines upon arrival, and fear of travel are not normally covered reasons to cancel under standard Trip Cancellation coverage, but would be covered under CFAR. Sometimes it pays to upgrade!
What is CFAR travel insurance?Cancel for Any Reason (CFAR) travel insurance is a type of benefit not included or offered with every comprehensive travel insurance policy. The coverage is usually an optional upgrade or optional benefit. CFAR protects 50-75% of your insured trip amount and allows you to cancel your adventure for any reason whatsoever. Unfortunately, you won’t find a CFAR travel insurance policy that reimburses 100%. Since CFAR provides such extremely flexible coverage, there are a few eligibility requirements you have to meet to purchase this specific upgrade.
How do I buy CFAR travel insurance? You should buy a Cancel for Any Reason policy as soon as you make your first payment or deposit. As mentioned above, to be eligible to purchase a policy with a CFAR benefit, you must meet the following eligibility conditions:
Like most insurance policies, pricing is mostly based on the age of the traveler and the cost of their trip. This is why it’s important to compare plans to find the most affordable option since CFAR policies can cost anywhere from 8-15% of your trip cost.
To compare travel insurance policies with Cancel for Any Reason coverage, simply run an instant quote and select the filter displayed below.
Our team of friendly humans would be happy to help you find a travel insurance policy with the right cancellation insurance so you can plan your trip with peace of mind. Give us a call or shoot us an email to walk through which travel insurance plan has the benefits you need.
How much does CFAR travel insurance cost?Like most insurance policies, pricing is mostly based on the age of the traveler and the cost of their trip. This is why it’s best to compare plans to find the most affordable option since CFAR policies cost anywhere from 12-40% of your trip payments. All CFAR policies on Yonder refund 75% of your travel expenses if you decide to cancel your trip.
Why should I purchase CFAR?Just like the spread of COVID-19, our world can change dramatically over just a few months. If you want to ensure part of your expenses are protected no matter what happens, then CFAR would be a great benefit to consider. Although pricey, travelers looking to be partially reimbursed for the extra flexibility usually say the peace of mind is well worth the additional premium.
For example, you’ve booked your family getaway to Mexico and planned on staying at a vacation rental. However, due to some apprehension, you cancel the trip, even though your Airbnb had a strict cancellation policy. Cancel for Any Reason coverage would provide 75% reimbursement for those prepaid, non-refundable payments included in the Total Trip Cost that you made towards your getaway.
Remember, this is a time-sensitive coverage so be sure to reach out to an insurance expert or run an instant quote for your CFAR policy options as soon as you make an initial payment towards your trip.
Tags: cancel for any reason, coronavirus
