6 truths and myths about 'cancel for any reason' travel insurance - The Points Guy

LTC Eugene Chu
..."You can really cancel for any reason, at any time
Myth: This is insurance — of course there are exceptions. While CFAR travel insurance is much more comprehensive than regular travel insurance, every policy has particular rules (and some exclusions) around reimbursement for cancellation. As with all insurance policies, it’s critical to review the details and read the fine print of the policy prior to purchase.
According to Angela Borden, product marketing strategist at Seven Corners, the company’s CFAR policies do not refund trip expenses if a tour operator cancels a trip because the policyholders should be able to get their refunds from the operator. Also, most CFAR policies have specific required timing for purchase and cancellation, or the policy is invalid. Insurance companies typically require the policy to be purchased within a couple of weeks of booking the trip. Also, a policy may only issue trip coverage if you cancel at least a certain number of days before a trip is set to begin (in Seven Corners’ case, two days in advance). Every company’s policy is going to be different, and many companies have several products within the CFAR category. Do your research in advance to be sure you get the coverage you’re looking for. “CFAR policies have terms, conditions and exclusions just like any other insurance product,” says Daniel Durazo, director of external communications at the Allianz Partners insurance company."...