• Travel Insurance Blog

  • Tuesday, September 26, 2017

  • Sam’s Insurance Escapades-III: Trip Cancellation Plan

    Filed Under: Blogging

Sam Traveler, our sensible globetrotter, loves to tell the story of his friend, Peter Fonseca, who is known to read every line of his travel insurance policy document. He might as well, says Sam, because Peter once had a bad experience when he failed to read the travel insurance document carefully.

When Peter planned his trip to Peru, he wanted to do everything right, and purchased trip cancellation insurance through Seven Corners’ RoundTrip plan. The plan included coverage for trip cancellation due to many reasons, even if his company transferred him out of the city he was then living in, or if they fired him.

While the RoundTrip Choice plan was also explained to him, with its “Cancel for Any Reason” coverage, Peter thought that he did not need extensive coverage, as all the major reasons for coverage were covered by the basic plan itself.

Unfortunately , Peter did get laid off as an effect of the economic recession, and he could not make the trip. He submitted his claim for the refund for his trip, and was surprised that his claim was not accepted. The letter simply referred him to the clause that said that assured coverage “subject to five years of continuous employment at the place of employment where terminated.” That, Sam never fails to remind his friends, is the reason why you must always read the fine print.

Travel tip: If you don’t have the time or patience to read the whole plan document, ask specific questions of the insurance company.

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