Travel Insurance – Should I Cancell For Any Reason?


Regular travel insurance allows you to cancel your travel for covered reasons like your illness, death in the family, loss of property, etc. But cancel for any reason travel insurance policies give temporary trip cancellation for some other reason not mentioned above, otherwise not covered by your travel policy. Cancellation for medical reasons is one such reason for which a temporary insurance is useful. Such policies cover you during medical emergencies only. But if you travel frequently then you may not require such insurance as cancellation for medical reasons can be considered as a frequent traveller’s problem and hence such policies will not be useful for you.

There are different types of policies available for cancellation for any reason. One such type is the premium penalties. Here in this type of insurance policies are structured in such a way that you get to pay higher premiums for canceling your trip earlier. You get to pay fine only after you pay the penalty for cancellation within the stipulated time period. Premiums are generally based on the rates of premium for one week stay. The penalty schedule works the same way in case of premium payment with higher premiums for longer stay.

Another form of trip cancellation coverage is in the form of refunding charge. In this type of insurance plan you get to pay your initial trip deposit plus a fee for cancellation within the stipulated period. This initial fee is calculated by taking the total cost of your air ticket including the penalties. So, if your flight is cancelled within the period of time specified in the initial trip deposit, you will have to pay the difference. If it is possible you should take the plane as it would be cheaper.

There is another form of this type of coverage known as ‘cancellation’. With cancellation you get to get back the whole amount paid to you minus the fees. The fees are paid from your original trip deposit. Trip cancellation coverage usually differs from one provider to another. So, it is advisable to check with more than one provider for an ideal travel coverage.

Most people would not like to think about cancellation of trips. But if you are in a scheduled business trip or vacation trip, cancel for any reason travel insurance policies are a boon for you. Cancellation policies are meant for those people who are constantly traveling and need insurance to cover the trip cancellation. Cancellation can occur at any stage of a trip and thus you should always be well prepared for such a possibility.

When you consider the normal trip cost you would probably not think of a cancellation. But, when a scheduled business trip or vacation trip is canceled due to some unexpected reason, you might feel the pinch. And if your business trip or vacation trip is intended as a surprise gift for someone special, cancel for any reason travel insurance policies would come as a boon to you. Cancellation can occur at any stage of the trip. You should therefore be prepared for it.

Regular trip cancellation policies do not offer any coverage for trip cancellation. They offer only travel coverage for normal travel delays and cancellations. Most people are unaware of the fact that cancellation policies can also help them. If you are planning a family vacation or a business trip which entails a trip away for a few days or a few weeks, then you should definitely check out trip cancellation coverage. Coverage for such vacations can help you overcome any kind of unforeseen situation.

In case you have already started preparing for your vacation or trip, it would be a good idea to check out the options for trip insurance coverage. A little research can do a lot in saving time and money. As such, you can even book your trip earlier so that your trip can be organized and planned with more care. Do a little homework on the different travel insurance policies available so that you are aware of the different options that are available. And remember, do not cancel on your trip just because you encounter some unexpected incident or lose your luggage.