• Travel Insurance Blog

  • Monday, August 21, 2017

  • Trip cancellation insurance - Cancel For Any Reason Benefit

    Filed Under: Blogging

With the outbreak of swine flu in many countries across the globe, panic has spread all over the world and many travellers are cancelling their reserved trips due to the fear of contracting the disease. However, many travellers would incur huge losses if they have booked for non-refundable tickets.

This is a classic example for which individuals planning for long vacations are advised to buy annual travel insurance trip cancellation. Many of the tourist insurance plans keep the ‘Cancel For Any Reason’ benefit as optional and charge higher premiums for those individuals who have opted for the same.

Individuals who opt for this benefit would be reimbursed some percentage of the expenses incurred for booking the tickets. The percentage of reimbursement varies between 50% to 100% depending on the trip cancellation insurance policy.

Note that individuals who want to become eligible for the ‘Cancel For Any Reason’ coverage benefit of the annual travel insurance trip cancellation must buy the insurance policy within a specified number of days after you make the initial payment for the trip. While some providers insist that the trip cancellation plan should be bought within 15 days of the initial payment, others give you only 10 days to book the insurance plan.

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