We all know that emergency travel medical insurance is a must-have when travelling. But have you heard of trip cancellation and interruption insurance? This type of insurance covers your travel investment if something unexpected prevents you from going on your trip or forces you to return home early. So, when should you think about getting this insurance? Let’s break it down into simple steps:
Consider the cost of your trip: The decision to buy trip cancellation and interruption insurance depends on how much you’re spending on your trip. Remember that only non-refundable, pre-paid expenses can be insured. It might not be worth it for short, less expensive domestic trips, but for longer trips abroad with hotel stays and pre-booked tours, it’s probably a good idea.
Purchase within 7 days: To get the best coverage from a wide range of companies, buy your insurance within 7 days of booking your trip. If you’re paying for your trip in instalments, you can insure the payments as you make them.
Calculate your non-refundable costs: Figure out the part of your travel investment that is non-refundable in Canadian funds. This is the amount that can be covered by trip cancellation insurance.
Check airline policies: Some airlines may let you re-book your flights or give travel credits if you can’t travel. Make sure to read the terms and conditions of your booking documents before getting insurance for your trip.
Get a quote: If the non-refundable, pre-paid portion of your trip is a significant investment, contact us for a quote on trip cancellation and interruption insurance.
By following these simple steps, you’ll have a better understanding of when trip cancellation and interruption insurance is the right choice for you. Travel with peace of mind, knowing your investment is protected!
A Helpful Guide to Cancel For Any Travel Reason Insurance
If you’ve booked a trip, it’s essential to consider trip cancellation insurance. One helpful option to protect your travel investment is Cancel For Any Reason trip cancellation insurance. This optional benefit offers added flexibility and peace of mind when planning your vacation. However, keep in mind there are a few restrictions:
- Timing: To be eligible for this benefit, you must purchase the insurance within seven days of booking your trip.
- Limitations may apply: The benefit is limited to 75% of your insured amount if you have to cancel for a reason not on the list of insured risks.
- Ask your broker: Be sure to consult your broker about trip cancellation insurance and the Cancel For Any Reason benefit.
By choosing Cancel For Any Reason trip cancellation insurance, you can feel confident knowing that your travel investment is protected, regardless of any unexpected events that may arise. Enjoy your journey with more peace of mind!
Understanding Trip Cancellation Coverage Limitations: Vouchers and Reward Points
When considering trip cancellation insurance, it’s essential to be aware of some limitations that may affect your coverage. By understanding these restrictions, you can make informed decisions and get the most out of your insurance policy. Here are two key points to keep in mind:
- Cancellation Vouchers: Trip cancellation insurance covers only non-refundable portions of your pre-paid expenses. If you have a flight that offers a refund or a voucher upon cancellation, you won’t be able to make a claim for the cost of the flight against your trip cancellation coverage.
- Flights Booked with Reward Points: If you purchase a flight using Air Miles or another rewards program, trip cancellation insurance won’t cover your costs. These policies can’t reimburse the value of points used to book flights or hotels.
We want to make sure you choose the insurance that best suits your needs. By being aware of these two limitations, you can better understand how trip cancellation coverage works and make the most of your insurance policy.