There are several reasons why you might want to cancel your trip, and trip cancellations lead to financial losses. To protect yourself from this loss, you need to buy “cancel for any reason” travel insurance. With this insurance plan, you can cancel any trip regardless of the reason, and you will be able to recover part of your money.
Travel insurance is a great investment when planning a trip, as you might experience common problems such as flight delays, lost baggage, and cancellation. However, basic travel insurance doesn’t provide coverage for everything, especially canceling your trip for any reason.
Adding a “Cancel for any reason” to your travel insurance plan raises the cost of your travel insurance; however, there are lots of affordable policies. In this blog post, I will provide some of the travel insurance companies that have the best ”cancel for any reason travel insurance” policy.
7 Best “Cancel For Any Reason” Travel Insurance
If you need more coverage for your travel insurance, then you can add “Cancel for any reason.” Below are some of the travel insurance companies that have the best cancellations for any reason:
1. AIG Travel Guard Travel Insurance
AIG Travel Guard is one of the best travel insurance companies in the industry, with lots of plans available for travelers. This insurance company also offers the lowest price for European travelers, despite providing the highest ceiling on Cancel-for-any-reason reimbursement.
AIG Travel Guard also has two plans, which include the Preferred and Deluxe insurance plans. Both of AIG’s insurance plans offer cancel-for-any-reason coverage as an add-on to the insurance policy. Furthermore, some insurance policies cover up to 75% of the total trip costs.
Most AIG insurance policies include coverage for COVID even without any cancel-for-any-reason protection and other ancillary perks such as pet travel insurance and rental car protection.
2. TravelSafe Travel Insurance
TravelSafe is an ideal option to consider if you are going to make several stops during your trip. It is also the perfect option if you are an expat living overseas. This insurance company provides flexible coverage terms for longer travel durations.
With TravelSafe, you can buy a single plan that can cover your trip for up to 120 days. Furthermore, TravelSafe’s reimbursement for baggage delays and losses, missed connections, and trip delays is faster than that of other insurance companies. It reimburses $2,500 per person for qualified missed travel connections.
Although the medical coverage might be a bit low, especially for travelers who expect potential medical expenses, those with the right credit card can increase their emergency costs by filing a claim with their card issuer.
3. Trawick Travel Insurance
Trawick Travel Insurance has one of the priciest plans for cancel-for-any-reason coverage. It has a safe travel explorer that is very beneficial for pet owners who need medical expenses for their pets.
This is because the plan includes $250 for unexpected costs for pets who accompany their owners on their trips. Although Trawick’s cancel-for-any-reason is among the priciest add-ons, it provides generous compensation for travelers who need it. It also offers up to 75% reimbursement for any nonrefundable trip costs.
4. C&F Travel Insured
C&F Travel Insured provides great plans for digital nomads, travelers, and people who spend lots of time on the road every year. This insurance company offers both annual travel insurance and single-trip travel insurance policies.
The annual plan holders can choose to buy cancel-for-any-reason coverage for the whole trip or for a particular segment of the trip. C&F Travel Insured also has insurance for job cancellations as part of its main insurance plans.
However, the C&F Travel Insured annual plan isn’t available for residents of most states, which include Montana, Pennsylvania, Missouri, New York, and Washington. Although the medical coverage limit on C&F plans might be low for some people, travelers can still supplement their medical expenses by using their credit card travel insurance perks.
5. AXA Assistance USA Travel Insurance
AXA Assistance USA Travel Insurance is an ideal option for European cruise travelers, and its coverage for one person is $1,500 for missed tours and cruises. This insurance company also covers delayed ski equipment, gulf equipment, and other sports equipment.
These are some of the items that aren’t included in the delayed or lost baggage coverage under other insurers. Your other belongings are safe too with AXA, as the lost baggage claim is up to $3,000 per person.
Unfortunately, AXA is not ideal for travelers who need high travel protection because the limit for cancel-for-any-reason reimbursement is up to $50,000. Furthermore, cancel-for-any-reason insurance coverage can also be added to the AXA platinum plan.
6. Seven Corners Travel Insurance
Seven Corners Travel Insurance is a popular insurance company that has served tons of travelers. It has a RoundTrip Choice plan that provides a cancel-for-any-reason add-on that covers only 75% of the total trip cost. It also has a maximum of up to $75,000 for reimbursement.
Seven Corners medical coverage is also quite generous, as it is $500,000 per person for qualified medical expenses, and evacuation limits are up to a million dollars per person. This insurance company also provides generous perks for delayed travel, lost baggage, or baggage expenses.
The baggage delay perks start after six hours, and they go up to $500 per person. Its Choice plan doesn’t insure travel that is canceled by tour operators that have gone out of business.
7. Travelex Travel Insurance
Travelex Travel Insurance is an excellent option for travelers who plan to take part in adventurous or stressful activities during their trip. Although the cancel-for-any-reason coverage add-on only reimburses up to 75% of the nonrefundable trip expenses, it still offers specific coverage in case of emergencies.
Its cancellation is available as an option up to two days before the trip starts. Travelex also provides low medical coverage when compared to other insurance companies, with a maximum limit of up to $50,000 per person.
Travelers taking part in adventurous sports can buy an optional add-on bundle for extra coverage. In the case of an emergency, Travelex policy holders might consider the travel insurance perks on their credit cards.
FAQs
What Is Cancel For Any Reason Travel Insurance?
Cancel for any reason Insurance is a type of trip cancellation insurance that allows you to cancel your trip for any reason that is not listed as a covered reason in your insurance plan. Cancel for any reason coverage is bought within a specific period of time after making a trip deposit. The travelers will only receive between 50% and 80% of the prepaid travel expenses based on your policy.
How Much Does Cancel For Any Reason Insurance Cost?
The cost of cancel for any reason travel insurance is based on different factors, which include your travel destination, the travel insurance company, and the worth of your trip. Based on research, the average cost of travel insurance with a cancellation for any reason is $635. The table below shows the average cost of travel insurance with cancel for any reason:
| Insurance Company | Policy name | Average Cost |
| Travelex | Travel Select | $532 |
| TravelSafe | Classic | $717 |
| Trawick | Safe travels first class | $500 |
| AIG | Travel guard preferred | $525 |
| AXA Assistance USA | Platinum | $808 |
| Seven Corners Travel Insurance | Trip protection basic | $502 |
What Does Cancel For Any Reason Insurance Cover?
This coverage allows travelers to cancel for any reason that isn’t covered in their travel insurance plan. Some of the covered reasons include health conditions, safety concerns, fear of flying, and work obligations. Lost or delayed passport, family emergency, and others.
