June 26, 2018

Cancel for Any Reason Insurance

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Are you worried about cancelling your trip? Learn how cancel for any reason coverage can protect you from losing the money you spent.

Trip cancellation vs. cancel for any reason

  • Trip cancellation
    Your trip insurance policy includes a benefit for canceled trips. This benefit will reimburse you, up to a certain limit, if you cancel. But there's a catch - the reason you cancel must be listed as a covered reason in the policy.

    Here are some of the most common reasons that most policies include.

    • Illness, if travel was prohibited by a doctor (must have written proof)
    • Natural disaster at your destination
    • Job loss
    • Death of a family member

    Be sure to check your policy to learn exactly what's listed as a covered reason for cancellation.

    If you cancel for a reason not listed in the policy, your claim will be denied. If the reason you cancel is listed in the policy but you can't produce adequate documentation, your claim will be denied.

    This is why many travelers select a policy with cancel for any reason coverage.

  • Cancel for any reason
    Cancel for any reason covers - you guessed it - any reason you might need to cancel your trip.

    There's no list. You can cancel your trip for any reason, or no reason at all.

    Here are some real examples of cancel for any reason claims.

    • Traveling companions broke up
    • Traveler couldn't find a pet sitter
    • Traveler decided not to go on the trip

    These are all cases that would've been denied under the standard trip cancellation coverage.

How does cancel for any reason insurance work?

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The cancel for any reason benefit is flexible regarding why you're cancelling, but there are still certain rules and limits that apply.

The benefit covers your pre-paid, non-refundable trip costs up to the policy limit. Benefit limits vary depending on the policy, but most plans cover between 75% and 100% of your trip costs.

You must insure your full trip costs to use this benefit. You can't file a claim if you insured only part of your trip.

You must purchase the policy itself within a certain number of days from your trip purchase (or initial deposit.) Most policies require you purchase insurance within 15 days of booking your trip. Some policies may require you purchase even sooner.

You must cancel your trip within a specified number of days before departure. Each policy has different guidelines. Some require you cancel at least 15 days before departure, others allow cancellation within 3 days.

Is it already included in your policy?

Some travel plans already include cancel for any reason coverage. You may find these plans are slightly higher in overall cost.

Other plans may offer cancel for any reason coverage as an add-on benefit. In this case, you'll pay an additional fee for the benefit.

Important things to remember

Check your policy to be sure you're eligible for the cancel for any reason benefit. Keep these things in mind:

  • You must insure 100% of your pre-paid, non-refundable trip costs
  • You must purchase your policy within the time frame specified by the policy
  • You must cancel your trip within the number of days specified in the policy

Do you really need cancel for any reason coverage?

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Take a look at your travel plans. This should help you decide if you really need cancel for any reason coverage.

It may not be worth the additional expense to add this coverage for a short, domestic trip.

On the other hand, the extra coverage would be ideal for a long or expensive trip.

Before deciding, be sure you read and understand the benefits and how they will apply to your situation.

More from CreditDonkey:

Is Travel Insurance Worth It

Trip Insurance Cover Medical Expenses

How Much Does Travel Insurance Cost

Travel Credit Cards


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