What is Cancel For Any Reason (including COVID-19)
The only way one could call off a trip if you change your mind would be if you purchased Cancel for Any Reason (CFAR) coverage. There is a window of time where you have to purchase the CFAR coverage, otherwise it is no longer an option.
Cancel for Any Reason typically costs an additional 40% in premium on top of the base premium and must be purchased within 20 days of your initial deposit towards your trip. Even if you only deposited $1.00, that still counts as your initial deposit date. Some examples of the standard reasons for cancelling your trip are things such as sickness, injury, or death of you, a family member, or your traveling companion. Inclement weather that stops services from running for 48 continuous hours. Bankruptcy or default of your travel supplier that occurs 14 days after your policy begins. When utilizing Cancel for Any Reason to call of your trip, you can only do so within 48 hours or greater from your departure date. If you want to call off your trip the day before you leave, there is no benefit, unless it would be for one of the standard cancelation reasons – sickness, injury or death, weather or bankruptcy as an example.
Cancel for Any Reason will be important for future travels, as we now live in a world of COVID-19. When in doubt, ask an expert – they are available to help you.