As Cancel for Any Reason continues to grow in popularity, more travelers are including the benefit in their travel insurance policy. According to Squaremouth.com, a site for comparing and purchasing travel insurance, Cancel for Any Reason can be a great benefit, but most travelers don’t need it. “If someone knows their travel insurance policy will not cover them to cancel, they should upgrade their policy to include Cancel For any reason,” says Sarah Byrne, Marketing Manager at Squaremouth. “However, if someone doesn’t need it, they could end up paying up to 50 percent more for something they are already covered for.”
Many travelers pay extra for Cancel for Any Reason assuming they need the benefit to be able to cancel their trip and receive a refund in the event of illness, injury, inclement weather or terrorism. However, the Trip Cancellation benefit is included in most travel insurance policies and covers travelers for these reasons.
“In most cases, people want to take their trip, and the reasons they would need to cancel are already covered under Trip Cancellation,” explains Byrne. As a result, Squaremouth usually does not recommend upgrading a travel insurance policy to include Cancel for Any Reason.
Cancel for Any Reason was created to offer additional cancellation coverage for the unexpected occurrences that are not covered in a travel insurance policy, such as a visa not arriving on time. It also gives someone the option to decide whether or not they want to take their trip. Without Cancel For Any Reason, someone cannot make a travel insurance claim if they cancel their trip for fear of something bad happening. Cancel for Any Reason allows someone to cancel without providing an explanation, however, travelers are required to cancel 48 hours prior to departing.
In addition to an increase in premium, travelers should not expect a full refund like Trip Cancellation offers. Most travel insurance policies will only reimburse up to 75 percent of the trip cost. MH Ross and Global Alert, both travel insurance providers, are the exceptions with policies that offer a refund of up to 90 percent of the trip cost.
“Understanding the limitations of Cancel for Any Reason can prevent travelers from paying extra for coverage that was already included in the policy,” says Chris Harvey, CEO of Squaremouth.
Before purchasing a travel insurance policy, travelers should review the covered reasons under the Trip Cancellation benefit. If a potential reason for canceling is not listed, they should consider upgrading the travel insurance policy to include Cancel for Any Reason.
About Squaremouth
Squaremouth is America’s fastest-growing travel insurance comparison site, helping customers instantly quote, compare and buy policies from every major carrier. Squaremouth has web sites in the US and UK, and an extensive network of partner sites worldwide. The company is headquartered in St Pete Beach, FL., with offices in Fort Wayne, IN. Visit Squaremouth.com or Squaremouth.co.uk.
https://www.squaremouth.com/
About our Zero Complaint Guarantee
The cornerstone of our commitment to customers is Squaremouth’s guarantee to remove any company from our website if there is a customer complaint that cannot be resolved to our satisfaction. Squaremouth offers the broadest selection of insurance with an emphasis on quality and follow-up care in companies featured. We also factor in independent evaluation from the insurance industry watchdog AM Best.
This article is written by https://www.squaremouth.com/ team
Squaremouth is America’s fastest-growing travel insurance comparison site, helping customers instantly quote, compare and buy policies from every major carrier. Squaremouth has web sites in the US and UK, and an extensive network of partner sites worldwide. The company is headquartered in St Pete Beach, FL., with offices in Fort Wayne, IN. Visit Squaremouth.com or Squaremouth.co.uk.
The cornerstone of our commitment to customers is Squaremouth’s guarantee to remove any company from our website if there is a customer complaint that cannot be resolved to our satisfaction. Squaremouth offers the broadest selection of insurance with an emphasis on quality and follow-up care in companies featured. We also factor in independent evaluation from the insurance industry watchdog AM Best.
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