Travel Insurance – Reasons to Buy Cancel for Any Reason
Travel Insurance – Reasons to Buy Cancel for Any Reason Insurance
I’ve discussed elsewhere the value of having travel insurance, and the easy ways to get travel insurance online.
Today, I want to talk about the Cancel For Any Reason option for your travel insurance policy.
Most issues that travelers face are covered by travel insurance, including delays, your inability to make flights and connections, baggage delay and loss, health and medical concerns and even wild card events like the companies that are a part of your travel plans going out of business. Still, there are a myriad other events that can happen that make cancel for any reason, an inexpensive option with some travel insurance policies, a really good idea.
Simply put, Cancel For Any Reason allows you to cancel your trip and recoup some or all of the sunken costs for your travel. If you go on your trip, the insurance company enjoys a small additional premium, but if you really have to cancel at the last minute, for any reason, you can save a bundle, and not have to wash all the money you invested into your vacation down the drain.
The reasons for having to cancel at the last minute are many, but here are a few:
- Political or economic conditions change – What if the country or region you are traveling to is locked down due to criminal activity, civil unrest, terrorism or war. Foreigners (you) will probably not be welcome as events unfold, and at worst you will be a tourist who is probably in the way and possibly in danger.
- Family events – Weddings, funerals, and other secular and religious functions may require you to show up, especially if your family is putting pressure on you.
- Medical emergencies of those other than the travelers – Some close to you is sick or dying or in an accident prior to leaving? Your regular insurance doesn’t cover your sister being sick, or your parents in a car accident if they aren’t going on the trip.
- Travel plan complications – Your regular travel insurance is designed to cover travel delays and problems caused by the companies you do business with for the trip, but like with non-traveler medical issues, your standard policy doesn’t worry if you can’t find someone to watch the children for a week, or to kennel your pets, or watch your house while away.
- Weather and forces of nature – Remember the volcanic eruptions last year that grounded planes for weeks? If it happens without cancel for any reason, you may be stuck as you try to determine what your policy covers, and what it doesn’t. Many policies don’t account for forces of nature, and give them a loophole to leave you high and dry as your paid reservations expire.
- Paperwork – If you passport or visa is delayed, and you are traveling abroad, you’re out of luck. Neither the insurance company, nor the hotels, airlines and other companies involved will care that you didn’t plan ahead. Cancel for any reason might be your only way out.
- You just plain change your mind – Maybe you’ve had an argument with your traveling companions, or maybe you’d rather go someplace else, or maybe you just don’t feel like going anymore. The cancel for any reason option has you covered, even if your reason isn’t very good.
You can probably think of more reasons to get Cancel for any reason insurance added to your travel insurance policy, and some of your friends and family may have some reasons too (whether you like it or not)!
The best way to protect your travel investment is through travel insurance, and the best way to protect both of them is with a travel insurance policy and a cancel for any reason option.