"Cancel for any reason" travel insurance
Does anyone have any experience using "cancel for any reason" travel insurance (in particular in the UK)?
My girlfriend and I are looking at booking a holiday for later this year, with the catch that if for some reason she were to need to resit her final year university exams, we wouldn't be able to travel during the window we have available.
Our key questions are:
- What costs are typically recoverable using these insurance policies?
- How much do they typically cost?
- Are there reputable brokers to buy these products from?
Best Answer
"Cancel for any reason" policies are rare and even if you find one, they tend to be very expensive and only refund a portion (usually half) of the trip cost.
Rough estimate: You can expect to pay around 10%-20% of the total trip price as a premium and to cover half of the trip price as "cancel for any reason".
So unless, there is a high chance of you having to cancel, this does not make financial sense.
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Is there a cancel for any reason travel insurance?
CFAR is supplemental coverage that offers partial reimbursement when you cancel a nonrefundable trip for any reason that isn't covered by your travel insurance policy. You cannot purchase CFAR on its own. It is an optional upgrade added when you purchase primary travel insurance.What does cancel for any reason mean?
The Cancel for Any Reason (CFAR) option is available as an upgrade on several of our comprehensive travel insurance plans and is a great option that allows travelers to cancel their trip for any reason that is not otherwise covered in their base plan, provided they cancel their trip more than 48 hours before their ...Can I cancel my travel insurance policy and get a refund?
You are able to cancel the policy and receive a full refund as long as you have not travelled, no claim has been made or is intended to be made, and no incident likely to give rise to a claim has occurred.Is cancel for any reason travel insurance available in NY?
However, you may be able to purchase \u201ccancel for any reason\u201d protection in conjunction with, or as an alternative to, a standard travel insurance policy, which would cover the cancellation or interruption of a trip for any reason not covered under the policy, including any COVID-19 fears or concerns.#TravelInsurance Travel Insurance Cancel For Any Reason: What You Need To Know
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Answer 2
I guess this is a bit late in the day, but if you book your flights with lastminute.com then they offer CFAR insurance as an option - they call it FullyFlex. It costs about 10% of the cost of the flight (which if you book a budget flight without any frills, often doesnt amount to that much) and it will refund you 90% of the flight in the event that you choose to cancel without reason. The refund is a voucher to spend on lastminute.com, but given that they sell flights for most airlines (and hotels etc), is fairly usable. I have used this in the past and cancelled, the process if fairly swift, I request the cancellation and voucher, a few hours later I have it and it is valid for a year I think. So if you are <90% certain that you will take the flight, then (IMO) it is worth it.
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