Travel insurance can help reimburse you for the non-refundable portion of your travel expenses if you have to cancel a trip due to a serious illness or a death in the immediate family.
This benefit can be used for various reasons, such as a death in the family, a serious illness, or a natural disaster. However, to make sure that your claim is processed correctly, follow the steps mentioned below.
How Much Does Flight Cancellation Insurance Cost?
You can get a better deal with a flight cancellation policy that provides “cancel for any reason.”
The cost of trip cancellation insurance depends on the type of policy you buy. For instance, if you decide to go to Greece for 8 days, you may pay between $500 and $1,000.
How flight cancellation insurance cost is determined:
Traveler age: Since older individuals are more prone to making a claim, they are typically higher in cost.
Travel expenses: Older travelers are more prone to making a claim due to their health conditions.
The cost of a policy is based on the non-refundable expenses that you incurred before you travel. This includes hotel accommodations, flight accommodations, and excursion deposits.
Different plans: Most basic policies have fewer coverage options. However, it’s important to select plans that provide the most comprehensive coverage possible.
Others: The number of people you insure will affect the cost of your policy. Also, the crime rates and the accessibility of medical facilities are also factors that affect the cost of a policy.
Trip Cancellation vs. Cancel for Any Reason
This type of policy, which is usually referred to as cancellation for any reason, provides travelers with the most flexibility when it comes to dealing with the fear of traveling. To see if it’s available for you, select the plan’s top picks from the list below.
At InsureMyTrip, we understand how important it is to have travel insurance that provides coverage for a cancelled trip. There are two types of cancellation policies: trip cancellation and cancellation for any reason.
Coverage for trip cancellation includes coverage for unforeseen reasons.
You may also be covered for the following types of reasons: The unexpected death, hospitalization, or injury of a traveling companion. This coverage also provides legal obligation if you decide to appear as a witness in court.
Depending on the plan, you may be entitled to 100% of the trip cost. In most cases, this coverage is only available if the trip is cancelled due to a covered reason.
Cancel for Any Reason
Some plans include an optional benefit called Cancel for Any Reason. This coverage is typically an additional charge, but it can be worth it.
Only policies that offer this benefit can be accepted within 10-21 days of the policy’s initial payment. If you fail to make a payment within this period, your trip will be cancelled.
Even if you have a policy that excludes trips to areas with political unrest or civil unrest, you can still cancel it. This type of coverage allows people to do so even if they’re not feeling comfortable leaving.
How to cancel a flight with travel insurance
Cancel your flight: You can do this by calling the airline’s customer service or going online to cancel your flight.
Your claim amount: Depending on the status of your claim, you may be eligible to receive a refund of the ticket price plus the non-refundable portion of the travel plan.
Initiate the claim: You can start your claim online or over the phone with various travel insurance providers. Before submitting a claim, talk to the airlines to see if they can accommodate you in the event of a cancellation.
Check your claim: Many insurance companies have a checklist of documents that they need to complete their claim. Doing so will help avoid getting confused with the company’s instructions.
Prepare additional documents: Ideally, submit all of the documents you need to complete your claim at once. Doing so will allow the claims adjuster to review them quickly. If the insurer requests additional documents, try to respond immediately.
Is Travel Insurance Worth It?
If your trip is cancelled due to a covered reason, such as a family member’s hospitalization, travel insurance can pay back the non-refundable expenses of the cancelled trip and this makes travel insurance worth it.
Although it’s possible to pay a small portion (around 5%-10%) of your trip’s cost, travel insurance can be very valuable to help cover the expenses that are related to a cancelled trip.
Despite the number of frequent flier programs and numerous awards, there are still quite a few reasons why people get lost and delayed when they travel. For instance, every year, over 22 million bags are lost due to baggage issues.
Since travel insurance is often not covered for every emergency, it can be very costly to cover the expenses related to a cancelled trip.