Michelle MegnaLead Editor, Insurance
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine...
Michelle MegnaLead Editor, Insurance
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine...
Written By
Michelle Megna
Michelle MegnaLead Editor, Insurance
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine...
Michelle MegnaLead Editor, Insurance
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine...
Lead Editor, Insurance
Joe CroninTravel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in...
See Full Bio
Joe CroninTravel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in...
See Full Bio
Joe Cronin
Joe CroninTravel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in...
See Full Bio
Joe CroninTravel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in...
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Expert Reviewed
& 1 other
Updated: Sep 1, 2024, 10:36am
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
AIG, Seven Corners and WorldTrips offer the best “cancel for any reason” (CFAR) travel insurance, based on our analysis of 24 policies..
A travel insurance policy with CFAR typically reimburses 75% of your insured trip costs if you cancel for reasons not listed in your policy. Many of the best travel insurance companies offer CFAR as an add-on benefit. It costs extra, but it may be worth the peace of mind if you want the most flexibility for making a trip cancellation claim.
Considering CFAR Travel Insurance?
See How Much It Costs To Protect Your Next Trip
Via Forbes Advisor's Website
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Show Summary
- Summary: Best “Cancel For Any Reason” Travel Insurance Ratings
- Best “Cancel For Any Reason” Travel Insurance Companies
- What Is “Cancel for Any Reason” Travel Insurance?
- How Does “Cancel for Any Reason” Coverage Work?
- What Does “Cancel For Any Reason” Insurance Cover?
- Do I Need “Cancel For Any Reason” Travel Insurance?
- How Much Does “Cancel for Any Reason” Insurance Cost?
- Methodology
- Other CFAR Travel Insurance Ratings
- “Cancel for Any Reason” Travel Insurance Frequently Asked Questions
- Next Up In Travel Insurance
Summary: Best “Cancel For Any Reason” Travel Insurance Ratings
Top-scoring policy name | Company | Company - Logo | Forbes Advisor Rating | Forbes Advisor Ratings | Average cost for plan with CFAR | Learn More CTA text | Learn more CTA below text | Learn More |
---|---|---|---|---|---|---|---|---|
Travel Guard Preferred | AIG | 5.0 | $525 | See Plans | Via Forbes Advisor's Website | |||
Trip Protection Basic | Seven Corners | 5.0 | $502 | See Plans | Via Forbes Advisor's Website | |||
Atlas Journey Explore | WorldTrips | 5.0 | $513 | See Plans | Via Forbes Advisor's Website | |||
GoReady Pandemic Plus | Aegis | 4.5 | $615 | See Plans | Via Forbes Advisor's Website | |||
Silver | John Hanco*ck Insurance Agency | 4.5 | $645 | See Plans | Via Forbes Advisor's Website | |||
Gold | Tin leg | 4.5 | $678 | See Plans | Via Forbes Advisor's Website | |||
Worldwide Trip Protector | Travel Insured International | 4.5 | $639 | See Plans | Via Forbes Advisor's Website | |||
Travel Select | Travelex | 4.5 | $600 | See Plans | Via Forbes Advisor's Website | |||
Ruby | USI Affinity | 4.5 | $689 | See Plans | Via Forbes Advisor's Website | |||
Travel Guard Deluxe | AIG | 4.0 | $652 | See Plans | Via Forbes Advisor's Website | |||
Cruise Luxury | Nationwide | 4.0 | $729 | See Plans | Via Forbes Advisor's Website | |||
Trip Protection Choice | Seven Corners | 4.0 | $748 | See Plans | Via Forbes Advisor's Website |
Source: Forbes Advisor research. Average prices are based on rates for seven different trips with a variety of traveler ages. Note that plans have different levels of benefits, which can account for price differences.
How We Chose the Best “Cancel for Any Reason” Travel Insurance
Best “Cancel For Any Reason” Travel Insurance Companies
AIG
Via Forbes Advisor's Website
Travel Guard Preferred
$525
75%
Editors’ Take
We found that the Travel Guard Preferred plan has the third-lowest average price among CFAR policies we reviewed.
We also like the Travel Guard Preferred plan because its optional pet, wedding, security, baggage, medical, adventures sports and travel inconvenience upgrades allow you to customize a policy to match your needs. This may offset the downside of low limits in the base policy. Additionally, the Travel Guard Preferred plan includes benefits if (under certain conditions) you must start your trip earlier than planned, a feature not found in all policies.
- Offers upgrades to meet the needs and budgets of many kinds of travelers.
- Reimburses up to $2,500 for meals, accommodations and transportation if you must begin your trip earlier than scheduled due to inclement weather or common carrier changes.
- Provides up to $750 for “travel inconveniences,” such as flight delay to your return destination, runway delays and cruise diversions, and $1,000 in missed connection benefits.
More: AIG Travel Insurance Review
Expert’s Take
“Cancel for any reason” (CFAR) coverage is limited to higher-level plans. But notable features include three detailed plans plus a Pack N’ Go plan for last-minute travelers who do not need cancellation benefits. It includes coverage options such as flight protection and car rental.
– Arsen Misakyan, co-founder of LAXcar
Drawbacks
- Very low travel medical insurance limits of $50,000 compared to most other policies we evaluated.
Plan Details
- Provides either 50% reimbursem*nt up to $75,000 or 75% reimbursem*nt up to $112,500 for prepaid, non-refundable trip costs.
- You must buy your travel insurance policy within 15 days of your first trip deposit to purchase CFAR coverage.
- You must cancel no less than two days before your scheduled departure to be eligible to file a CFAR claim.
- You can be compensated for 50% or 75% of your travel supplier’s change fees.
- You can recoup 50% or 75% of the cost of re-depositing frequent traveler awards used for the trip.
Seven Corners
Via Forbes Advisor's Website
Trip Protection Basic
$502
75%
Editors’ Take
We like the Trip Protection Basic plan because it provides top-notch CFAR reimbursem*nt at the lowest price among the travel insurance companies we evaluated.
- Includes a good level of medical evacuation coverage of $250,000.
- Includes cruise and tour missed connection benefits of $500 per person after 3-hour delay.
- “Interruption for any reason” upgrade available.
More: Seven Corners Travel Insurance Review
Expert’s Take
Seven Corners offers comprehensive coverage options that cater effectively to adventurers and frequent travelers, making it a strong contender for those seeking robust medical and evacuation coverage.
– Pradeep Guragain, co-founder of Magical Nepal
Drawbacks
- Low medical expense limits of $100,000, but you might find that’s sufficient.
- Baggage loss and delay coverage is on the low side at $500 per person.
- Does not cover pre-existing medical conditions.
Plan Details
- To buy CFAR coverage, you must buy your travel insurance within 20 days of your initial trip payment and within 15 days of payment for any subsequent travel arrangements added to your trip.
- You must cancel your trip no less than two days prior to the scheduled departure date of your trip to be eligible to file a CFAR claim.
WorldTrips
Via Forbes Advisor's Website
Atlas Journey Explore
$513
75%
Editors’ Take
The Atlas Journey Explore plan was the second-cheapest CFAR policy among those we analyzed and provides solid coverage across the board. We also like the policy’s generous time frame for purchasing CFAR.
We recommend this plan if you’re interested in upgrades or are a pet owner. Available upgrades include extra coverage for pets traveling with you, medical expenses and more.
- Decent missed connection coverage of $1,000.
- Superior medical evacuation benefits of $1 million per person.
- Very good missed connection coverage of $1,500 per person after 3 hours.
More: WorldTrips Travel Insurance Review
Expert’s Take
WorldTrips carries a stellar reputation among experienced globetrotters such as myself. Knowing international medical aid and multilingual assistance are only a phone call away provides comfort no matter where life’s path may lead. The adaptability of their plans also helps address the fact that travel needs aren’t one-size-fits-all.
– Stephanie Rytting, travel expert, travel author and the founder of France Adventurer
Drawbacks
- Medical expense coverage limits of $150,000 aren’t as high as some other policies but might be enough for you.
- Baggage delay benefits have a 12-hour waiting period.
Plan Details
- You can choose 50% CFAR or 75% CFAR reimbursem*nt levels.
- You must buy CFAR coverage within 21 days of making your first trip deposit.
- The maximum trip cost per person is $150,000 for CFAR benefits.
- You must cancel your trip 48 hours or more prior to your scheduled departure date.
- CFAR coverage does not pay for costs associated with travel arrangements that are not provided by your travel supplier, which is any entity or organization that coordinates or supplies travel services for you.
- Your CFAR benefits won’t apply if your travel supplier didn’t provide the agreed-upon arrangements.
- You must insure 100% of your prepaid, non-refundable trip costs.
Aegis (formerly GoReady)
Via Forbes Advisor's Website
GoReady Pandemic Plus
$615
75%
Editors’ Take
We chose the GoReady Pandemic Plus policy because its competitive average cost helped push it to a high rating. If you want an affordable CFAR plan and aren’t concerned about very low coverage amounts for some core benefits, we recommend checking out the GoReady Pandemic Plus plan.
- Decent medical evacuation benefits of $500,000.
- Very good trip interruption benefits of 150% of insured trip cost.
Expert’s Take
Aegis is known for flexible budget-friendly protection.
– Jenoa Matthes, travel expert, gastronomy trips organizer and the founder of The Travel Folk
Drawbacks
- Travel medical insurance coverage of just $50,000 per person is low compared to many competitors.
- Missed connection benefits of $250 is skimpy compared to many other top-rated policies we evaluated.
Plan Details
- You must buy CFAR coverage within 14 days of making your first trip deposit.
- You must add to your policy and insure any subsequent trip costs within 14 days of making the added payments.
- You must cancel at least two days prior to your scheduled departure date to be eligible to file a CFAR claim.
- You must insure 100% of your prepaid, non-refundable trip costs.
John Hanco*ck Insurance Agency
Via Forbes Advisor's Website
Silver
$645
75%
Editors’ Take
We picked John Hanco*ck’s Silver plan with CFAR benefits because it provides decent coverage at a competitive price. We also like the policy’s excellent medical evacuation coverage and travel delay benefits that apply after only a 3-hour wait.
- Excellent evacuation coverage limits of $500,000 per person.
- Fairly good missed connection benefits of $750 per person after a 3-hour waiting delay.
- Includes $100,000 per person in 24-hour accidental death and dismemberment (AD&D) coverage.
More: John Hanco*ck Insurance Agency Travel Insurance Review
Expert’s Take
One potential downside is that their premiums can be higher compared to some competitors, but the level of service often justifies the cost.
– Jim Campbell, independent travel agent and founder of Honeymoons.com
Drawbacks
- A medical coverage limit of $100,000 isn’t as high as some other policies, but might be adequate for you.
Plan Details
- You must cancel at least two days prior to your scheduled departure date to be eligible to file a CFAR claim.
- You must insure 100% of your prepaid, non-refundable trip costs.
- You must buy CFAR coverage within 14 days of making your first trip deposit.
- You must add and insure subsequent trip costs within 14 days of making the added payments.
Tin Leg
Via Forbes Advisor's Website
Gold
$678
75%
Editors’ Take
We like Tin Leg’s Gold plan because it has generous levels of medical benefits for a very good price, making it a front-runner if you want a CFAR plan with high medical and evacuation coverage.
- Excellent medical and evacuation coverage limits of $500,000 per person.
- Short travel delay waiting period of 6 hours.
- Generous trip interruption reimbursem*nt of 150% of insured trip cost.
More: Tin Leg Travel Insurance Review
Expert’s Take
A simple, efficient claims process gives value-seeking travelers protection without hassles to disrupt the fun.
– Timon van Basten, tour guide and founder of Travel Spain 24
Drawbacks
- Baggage delay coverage doesn’t kick in until 24 hours of delay.
- Baggage loss reimbursem*nt and missed connection benefits are on the low end at $500 per person.
Plan Details
- You must insure 100% of your prepaid, non-refundable trip costs.
- You must cancel at least two days prior to your scheduled departure date to be eligible to file a CFAR claim.
- You must buy CFAR coverage within 14 days of making your first trip deposit.
- You must insure the cost of any subsequent arrangements added to the same insured trip within 14 days of the date of making a payment for any added covered trip arrangements.
Travel Insured International
Via Forbes Advisor's Website
Worldwide Trip Protector
$639
75%
Editors’ Take
We recommend the Worldwide Trip Protector Plan because you can buy CFAR coverage up to 21 days after making your first trip deposit, compared to just 14 days allowed for some other top-rated policies. We also like the policy’s robust benefits, including superior non-medical evacuation coverage and short waiting periods for coverage for delays.
- “Interruption for any reason” upgrade available.
- Top-notch non-medical evacuation benefits of $150,000 per person and $1 million for medical evacuation.
- Good travel delay and baggage delay benefits kick in after just a 3-hour delay.
Expert’s Take
I’ve found that the policies of Travel Insured International offer protection for common travel risks, with transparent terms and straightforward coverage options. Their affordability and solid coverage make them a dependable choice for budget-conscious travelers.
– Kevin Mercier, travel expert and founder of Kevmrc.com
Drawbacks
- Medical coverage of $100,000 per person is on the low side compared to top competitors but might be enough for your needs.
Plan Details
- You must buy CFAR coverage within 21 days of making your first trip deposit.
- You must cancel your trip 48 hours or more prior to your scheduled departure date to qualify for CFAR benefits.
- Only travel arrangement costs associated with your travel supplier are covered. A travel supplier is any entity or organization that coordinates or supplies travel services for you.
- CFAR benefits aren’t applicable if your travel supplier fails to provide the arrangements you agreed upon because it goes out of business.
- You have to insure the full cost of any subsequent arrangements added to your trip within 21 days of the date of your payment for add-on costs.
Travelex Insurance Services
Via Forbes Advisor's Website
Travel Select
$600
75%
Editors’ Take
The Travel Select policy was the fourth-cheapest among CFAR policies we evaluated. That makes it a solid choice at a competitive price, although medical expense limits are lower than those of top competitors.
We recommend the Travel Select plan for families—children under age 17 accompanied by an adult covered by the policy are covered at no extra charge.
- Decent missed connection benefits of $750.
- Very good travel delay coverage of $2,000 per person after a 5-hour delay.
- Medical expense coverage is primary, compared to some competitors’ secondary coverage.
More: Travelex Travel Insurance Review
Expert’s Take
These folks win for providing a simple, affordable trip protection option for travelers on a budget. I’d say their basic plans are ideal for a quick getaway where you just want to cover the basics like trip cancellation. But for a longer, pricier journey, I’d probably upgrade.
– Tim Schmidt, travel expert, entrepreneur, published travel author and founder of All World
Drawbacks
- Medical coverage of $50,000 per person is on the low side.
- Baggage delay coverage requires a 12-hour delay and has a low $200 per person limit.
Plan Details
- To purchase CFAR coverage you have to buy it when you buy your travel insurance policy, which must be within 15 days of your first trip payment.
- You’ll be compensated 75% of your insured trip cost, up to $7,500.
- Your trip length can’t be more than 30 days.
- Your trip cost can’t be more than $10,000.
- You must insure 100% of your prepaid, non-refundable trip costs to receive CFAR benefits.
- You must cancel no less than 48 hours prior to your departure date to be eligible to file a CFAR claim.
USI Affinity
Via Forbes Advisor's Website
Ruby
$689
75%
Editors’ Take
USI’s Ruby plan is more expensive than most other top-scoring CFAR policies we evaluated, but provides a variety of top-level benefits, such as excellent coverage for medical and evacuation expenses.
- Excellent coverage limits of $250,000 for medical expenses and $500,000 for medical evacuation.
- Good travel delay coverage of $1,000 per person after a 6-hour delay.
- Good missed connection coverage for cruise and tours of $750 per person after 3-hour delay.
More: USI Affinity Travel Insurance Review
Expert’s Take
Whether you’re visiting quaint villages or grand cities, USI Affinity’s personalized approach puts my specific interests and budget at the forefront so I am covered for what matters most to me as I check items off my ever-growing France bucket list.
– Stephanie Rytting, travel expert, travel author and the founder of France Adventurer
Drawbacks
- Baggage delay coverage is on the low side at $300 per person and requires a 12-hour delay for benefits to start.
Plan Details
- You must cancel at least two days prior to your scheduled departure date to be eligible to file a CFAR claim.
- You must insure 100% of your prepaid, non-refundable trip costs.
- You must buy CFAR coverage within 14 days of making your first trip deposit.
- You must insure any subsequent trip costs within 14 days of making the added payments.
AIG
Via Forbes Advisor's Website
Travel Guard Deluxe
$651
75%
Editors’ Take
The Travel Guard Deluxe plan is the third-most expensive plan with CFAR among those we analyzed but that might be offset by the generous optional add-ons available.
You can customize the Travel Guard Deluxe policy to your needs and budget with optional pet, wedding, security, baggage, medical, adventures sports and travel inconvenience upgrades. We also like the Travel Guard Deluxe plan because it includes benefits if under certain conditions you must start your trip earlier than planned, a feature not found in all policies.
- Superior medical evacuation benefits of $1 million and security evacuation benefits of $100,000.
- Reimburses up to $2,500 for meals, accommodations and transportation if you must begin your trip earlier than scheduled due to inclement weather or common carrier changes.
- Provides up to $750 for “travel inconveniences,” such as flight delay to your return destination, runway delays and cruise diversions.
More: AIG Travel Insurance Review
Expert’s Take
I find AIG’s comprehensive coverage provides much-needed security when I’m exploring abroad. With strong financial backing behind them, I can travel with confidence knowing they will cover urgent medical flights or cancellations should unexpected issues arise. In all my trips to France, the peace of mind from their coverage has allowed me to fully immerse myself in the culture without worry.
– Stephanie Rytting, travel expert, travel author and the founder of France Adventurer
Drawbacks
- Low travel medical insurance of $100,000 compared to some other policies we evaluated.
Plan Details
- You can be compensated for 50% or 75% of your travel supplier’s change fees.
- Provides either 50% reimbursem*nt up to $75,000 or 75% reimbursem*nt up to $112,500 for prepaid, non-refundable trip costs.
- To purchase CFAR coverage, you must buy your travel insurance policy within 15 days of your first trip deposit to purchase.
- For CFAR benefits to apply, you must cancel no less than two days before your scheduled departure.
- You can recoup 50% or 75% of the cost of re-depositing frequent traveler awards used for the trip.
Nationwide
Via Forbes Advisor's Website
Cruise Luxury
$729
75%
Editors’ Take
We picked Nationwide’s Cruise Luxury plan because it provides an array of generous benefits, including excellent medical evacuation coverage limits. But it’s the second-most expensive policy, on average, among those we reviewed.
- “Interruption for any reason” upgrade available.
- Excellent medical evacuation coverage of $1 million and includes $25,000 in non-medical evacuation benefits.
- Superior baggage loss benefits of $2,500 per person and superior baggage delay benefits of $1,000 per person.
- Excellent missed connection coverage of $2,500 per person after only a 3-hour delay.
More: Nationwide Travel Insurance Review
Expert’s Take
Nationwide’s basic plans may lack the adventure coverage others need. Yet for casual trips where risks are lower, Nationwide meets needs without breaking the bank.
– Kelly Duhigg, travel expert and founder of Girl with the Passport
Drawbacks
- Though you get generous benefits, the Cruise Luxury plan’s average cost is a bit more expensive than some other top-rated CFAR policies.
Plan Details
- You must cancel at least two days prior to your scheduled departure date for CFAR benefits to apply.
- You must insure all trip costs that are associated with cancellation penalties or restrictions to be eligible to purchase CFAR.
- You have to buy CFAR coverage within 14 of your initial trip deposit and within 14 days of payment for any subsequent travel arrangements added to your trip.
Seven Corners
Via Forbes Advisor's Website
Trip Protection Choice
$748
75%
Editors’ Take
The Trip Protection Choice plan from Seven Corners provides solid benefits across the board, and we especially like the policy’s excellent travel medical and evacuation coverage. It’s more expensive than other top-rated policies we reviewed, but you have 20 days to buy CFAR after making your first deposit. Our analysis found that’s about six days more than what many other competitors provide.
- Includes $20,000 in non-medical evacuation coverage.
- Top-notch travel medical coverage of $500,000 per person and medical evacuation coverage of $1 million.
- Excellent travel delay benefits of $2,000 after a 6-hour delay and missed connection coverage of $1,500.
- Great baggage insurance coverage of $2,500 per person.
More: Seven Corners Travel Insurance Review
Expert’s Take
Seven Corners’ customization options fit a variety of travel plans, which is highly valuable.
– Pradeep Guragain, co-founder of Magical Nepal
Drawbacks
- The Trip Protection Choice plan had the highest average price among top-scoring CFAR policies we evaluated.
Plan Details
- Only travel arrangement costs associated with your travel supplier—any entity or organization that coordinates or supplies travel services—are covered.
- You must cancel your trip no later than two days before your scheduled departure date if you want to file a CFAR claim.
- CFAR benefits aren’t applicable if your travel supplier fails to provide the arrangements you agreed upon because it goes out of business.
- You must buy CFAR coverage within 20 days of making your first trip payment and within 15 days of payment for any subsequent travel arrangements added to your trip.
What Is “Cancel for Any Reason” Travel Insurance?
“Cancel for any reason” insurance lets you cancel a trip for a reason not listed under your trip cancellation insurance and receive partial reimbursem*nt. For example, if you get sick right before your trip and can’t go, that’s generally covered by standard trip cancellation coverage and you can make a claim for 100% reimbursem*nt of the trip costs you lose.
But if you want the flexibility to cancel for reasons not listed in the base policy, CFAR can help.
You will generally be reimbursed for 75% of your prepaid, forfeited and non-refundable trip costs. The percentage for CFAR reimbursem*nt will be listed in the policy.
To get CFAR travel insurance you’ll have to purchase a base travel insurance plan and add “cancel for any reason” coverage within a certain time frame after your first trip payment. This is usually 14 days but make sure to check your plan.
The deadline for adding CFAR will depend on the travel insurance company, and not all companies offer it. Being eligible to buy CFAR is one of the advantages of buying travel insurance right after you book a trip.
You generally have to cancel your trip no less than 48 hours before your departure. For example, if you’re leaving tomorrow and you want to cancel the trip today, you probably won’t be able to make a CFAR claim.
Make sure to read the policy’s fine print and know the deadline for canceling the trip if you buy CFAR insurance.
How Does “Cancel for Any Reason” Coverage Work?
Like any other type of insurance, CFAR has some rules that apply to how you’re compensated when you file a claim.
Summary: “Cancel for Any Reason” Coverage | |
---|---|
What does CFAR do? | CFAR gives you the ability to cancel a trip for any reason and receive partial reimbursem*nt. |
How much money do I get back? | With a CFAR claim you get back only a portion of what you lose in prepaid and non-refundable deposits, usually 75%. |
Can I buy CFAR at any time? | You generally need to buy CFAR coverage within two to three weeks after your first trip deposit by adding it to a base travel insurance policy. If you want to buy CFAR coverage, make sure to know the purchase deadline so you don’t miss it. |
Can I cancel my trip any time and make a CFAR insurance claim? | You generally need to cancel no less than 48 hours before your departure in order to make a CFAR claim. Once you’re within two days of leaving on the trip, CFAR coverage generally ends. |
How much does “cancel for any reason” coverage cost? | Expect CFAR to add an average of 50% to your travel insurance cost. |
What Does “Cancel For Any Reason” Insurance Cover?
CFAR covers the prepaid, non-refundable trip expenses that you have insured. It reimburses you for a percentage of the total cost if you cancel the trip for a reason not listed in the base policy..
For example, using CFAR coverage you could make a trip cancellation claim because:
- You’ve developed a fear of travel.
- It looks too rainy or too hot.
- You’ve seen bad reviews of your resort.
- You’ve decided to visit family instead.
- Your child care arrangements have fallen through.
- You got into a fight with your travel companions.
- Your pet has fallen ill.
If you file a CFAR claim, you can be compensated for the following types of trip expenses if you can’t get a refund for them:
- Airfare.
- Boat charters or rentals.
- Concert tickets.
- Day trip excursions.
- Hotel accommodations.
- Museum tickets.
- Theme park passes.
- Private or guided tours.
- Spa services.
Here’s a look at how much you may get reimbursed by filing a CFAR claim: Let’s say you booked a non-refundable round trip plane ticket for $1,000 and five nights of lodging at $200 a night, also non-refundable. You would insure the trip for $2,000.
If you cancel your trip for a reason that’s not listed in your travel insurance policy, you would be out $2,000 without CFAR insurance. But a CFAR policy would reimburse you for a portion of the costs.
- If you have a CFAR policy with 50% reimbursem*nt, you would get $1,000 from a CFAR travel insurance claim.
- If the policy has 75% reimbursem*nt, you would get $1,500 back from a CFAR claim.
Remember that CFAR coverage is only for non-refundable costs. Any prepaid costs that are reimbursed to you aren’t eligible for CFAR coverage.
Compare & Buy Travel Insurance
Do I Need “Cancel For Any Reason” Travel Insurance?
You may need CFAR travel insurance if you plan an expensive trip with lots of non-refundable costs. CFAR is also beneficial if you think it’s possible you may have to cancel your trip for a reason not listed in the policy.
Expert Tip
Do You Need Cancel For Any Reason Insurance?
Michelle Megna
Insurance Lead Editor
I don’t think you necessarily need CFAR if your airline, hotel or other travel service companies have generous refund policies. It also might be unnecessary if you can easily afford to lose your trip deposits.
I recommend weighing the cost of a CFAR upgrade against the likelihood you think you will need it. Buying CFAR usually hikes your travel insurance policy cost by 50%. But CFAR can also be valuable simply for the peace of mind that you’ll be able to get some reimbursem*nt if you want to cancel for a reason not listed in the base policy.
Michelle Megna
Insurance Lead Editor
How Much Does “Cancel for Any Reason” Insurance Cost?
Travel insurance with “cancel for any reason” coverage costs an average of $723 per trip, based on our analysis. CFAR usually adds about 50% to the cost of travel insurance.
ASK THE EXPERT
We Answer Your Questions
Jason Metz
Insurance Lead Editor
Michelle Megna
Insurance Lead Editor
Les Masterson
Insurance Editor
If I don’t book my trip all at once can I add on to my CFAR coverage?
-Heidi D., Mount Dora, Florida
Yes, if you buy CFAR within the required time period after your first deposit—usually between 14 and 21 days—you can amend your coverage. If you add more expenses to your trip as you book more portions of your itinerary, you’re allotted another time period to add these costs to your CFAR coverage.
Jason Metz
Insurance Lead Editor
What’s the deadline if I want to buy CFAR?
Mark M., Los Angeles
The time-frame for buying CFAR varies by policy, but is usually 14, 15 or 21 days from the date you make your first trip deposit. For example, top-rated policies from WorldTrips and Travel Insured allow 21 days from your initial deposit. Seven Corners, Travelex and AIG provide15 days. Aegis, Tin Leg, Nationwide and USI give you 14 days. If you’re not sure if you want to buy CFAR, I suggest considering policies that provide a 21-day window.
Michelle Megna
Insurance Lead Editor
If I purchase trip insurance, but then cancel the trip, do I get a refund on the trip insurance?
Wayne C., Indio, California
No, you won’t get a refund on the travel insurance policy if you cancel your trip. But if you cancel because of a reason listed in the policy, you’ll be compensated for your insured trip costs. If you have “cancel for any reason” you can make a claim under that coverage.
However,when you buy a policy, you usually get between 10 and 15 days to review the coverage. Within that time you can cancel the policy and get a full refund.
Les Masterson
Insurance Editor
Methodology
We analyzed travel insurance policies that include “cancel for any reason” coverage. We scored 23 policies on the following:
Cost (75% of score): Average prices for CFAR policies are based on rates for seven different trips for a variety of traveler ages and trip costs:
- Couple, age 30 for a Mexico trip costing $3,000.
- Couple, age 40, for an Italy trip costing $6,000.
- Family of four for an Italy trip costing $15,000.
- Family of four for a France trip costing $15,000.
- Family of four for a U.K. trip costing $15,000.
- Couple, age 65, for an Italy trip costing $6,000.
- Couple, age 70, for a Mexico trip costing $3,000.
CFAR reimbursem*nt level of trip cost: (25% of score): Policies providing 75% reimbursem*nt were awarded points.
Read more: How Forbes Advisor Rates Travel Insurance Companies
Other CFAR Travel Insurance Ratings
Company | Policy name | Forbes Advisor rating |
---|---|---|
WorldTrips | Elevate | |
Aegis (formerly GoReady) | Go Ready Choice | |
Trawick International | Safe Travels First Class | |
John Hanco*ck Insurance Agency | Gold | |
Nationwide | Prime | |
TravelSafe | Classic | |
HTH Travel Insurance | TripProtector Preferred | |
Tin Leg | Luxury | |
USI Affinity | Diamond | |
AXA Assistance USA | Platinum | |
IMG | iTravelInsured Travel LX |
“Cancel for Any Reason” Travel Insurance Frequently Asked Questions
Is CFAR travel insurance worth it?
CFAR travel insurance is likely worth it if you are worried that you will have to cancel your trip and you can’t afford to lose your non-refundable deposits. You’ll also want to weigh the costs of a CFAR travel insurance upgrade. Buying CFAR usually hikes your travel insurance policy cost by an average of 50%. But you can find policies with a lower increase for CFAR by comparison shopping.
Is fear of traveling covered by travel insurance?
Travel insurance policies don’t cover fear of travel. But with CFAR coverage it doesn’t matter what your reason is—you can get partial reimbursem*nt of your non-refundable trip costs.
What if I don’t have CFAR but I want to cancel my trip?
If your reason for canceling is listed in the policy, you can make a trip cancellation insurance claim. Common acceptable reasons include a natural disaster or terrorist attack at your destination, suffering an injury before the trip, or needing to attend the birth of a family member’s child.
What does CFAR not cover?
CFAR won’t compensate you for refundable trip costs. It also generally won’t reimburse you for your insured trip costs if you cancel less than 48 hours before your scheduled departure.
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Michelle Megna
Lead Editor, Insurance
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine editor covering consumer technology, a foreign correspondent for Time and various newswires and local newspaper reporter.
Joe Cronin
Travel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in international health, life and travel insurance plans, Cronin is focused on providing international citizens, expatriates and global nomads with the best advice on ensuring they are covered for medical emergencies worldwide. International Citizens Insurance is that resource. Having lived and traveled throughout the world, his vast experience is now available to visitors researching global insurance plans for all situations.
With his expertise in international financial services, travel and new media, he founded and grew Edvisors, Envisage International and the International Education Finance Corporation into multimillion dollar businesses.
Cronin has lived in or traveled to every corner of the globe, including Moscow, Tokyo, Mexico City, Sydney, London, Argentina and Athens. He believes that an essential benefit of international travel is how it brings different cultures together. Cronin is passionate about helping expatriates with their international relocation and helping travelers of all types secure safe, affordable and effective global insurance for their international adventures.