How Cancel For Any Reason Travel insurance works
Quick insights
- You may be able to purchase Cancel For Any Reason travel insurance as an addition to your comprehensive travel insurance policy.
- This add-on coverage typically includes a wider range of eligible reasons for canceling a trip than standard travel insurance policies.
- This coverage is usually not included with the travel insurance that’s sometimes provided as a benefit of certain credit cards.
Booking a nonrefundable trip can be risky. That’s why many people opt to protect themselves with trip insurance. You can purchase this insurance directly, or you can access it through some credit cards that provide trip insurance coverage. Not every reason for canceling a trip is eligible, so some people opt to get an additional coverage called Cancel For Any Reason insurance. While you can get standard trip insurance through some Chase credit cards, most credit card issuers including Chase, don’t provide Cancel For Any Reason insurance. This insurance can be purchased by the provider who offers trip insurance for your credit card.
Read on to find out more about credit card trip insurance and Cancel For Any Reason insurance.
What is cancel for any reason insurance?
If you can’t go on a trip, Cancel For Any Reason (CFAR) insurance may partially refund you for expenses that aren’t covered by your travel insurance policy.
CFAR is usually available as an optional upgrade to your primary travel insurance policy and cannot be purchased as a standalone policy. Some trip insurers or plans may not offer this upgrade.
The benefit of CFAR is that, unlike standard trip insurance, these policies typically allow for a wider range of eligible reasons for cancellation as long as you cancel the trip in time. If you’re interested in this coverage, you can purchase it as an add-on when you buy some standard travel insurance plans. Call the insurer to see if you have the option to purchase CFAR.
Cancel for any reason insurance and credit cards
Travel rewards credit cards sometimes provide trip insurance. Credit cards with travel insurance usually offer a standard comprehensive policy, which does not include CFAR.
Traditional credit card travel insurance may pay out when a trip is canceled or interrupted for eligible reasons outlined in your policy. It may be a good idea to review the policy and decide whether it’s worth it for you to get additional coverage through CFAR. Depending on the trip insurer for your credit card, you may be able to purchase CFAR insurance, but note that some insurers or plans do not offer CFAR as an optional upgrade. Call the Benefit Administrator of your credit card travel insurance to see if your plan allows you to purchase CFAR.
Travel insurance benefits offered with a credit card
Wondering if your next trip is covered by your credit card’s travel insurance? Coverage can vary depending on the insurer and plan, but here’s what these policies commonly include.
Trip cancellation insurance
Credit cards with trip cancellation insurance usually have policies that pay out when a trip is canceled for eligible reasons. Eligible reasons could include natural disasters, inclement weather, injuries or job termination, but consult your credit card’s guide to benefits to find the exact terms and conditions. Prepaid, nonrefundable trip expenses, such as hotel stays and flights, may or may not be covered.
Trip interruption insurance
Trip interruption insurance provides coverage for when your trip ends before you planned for eligible reasons. For example, some policies may pay for things like moving up your flight date to get home early or reimburse you for an unused portion of your nonrefundable hotel reservation.
If you’re interested in trip insurance and other travel benefits, you may want to compare credit cards to help plan for and protect your next vacation.
In summary
You can help protect your next vacation with travel insurance, which you may purchase directly from a trip insurer or receive as a complimentary benefit with certain travel rewards credit cards. You could have the option to expand the eligible reasons for canceling your trip with CFAR insurance. Chase offers several credit cards with travel insurance, but, like other credit card issuers, it does not directly provide CFAR. CFAR could possibly be offered as an add on by the provider who offers trip insurance for your credit card.
