“Cancel for any reason” insurance lets you cancel a trip for a reason not listed under your trip cancellation coverage and receive partial reimbursement. For example, if you get sick right before your trip and can’t go, that’s generally covered by standard trip cancellation insurance and you can make a claim for 100% reimbursement of the trip costs you lose.
But if you want the flexibility to cancel for reasons not listed in the base policy, CFAR can help.
You will generally be reimbursed for 75% of your prepaid, forfeited and nonrefundable trip costs. The percentage for CFAR reimbursement will be listed in the policy.
To get CFAR travel insurance you’ll have to purchase a base travel insurance plan and add “cancel for any reason” coverage within a certain time frame after your first trip payment. This is usually 14 days but make sure to check your plan. The deadline for adding CFAR will depend on the travel insurance company, and not all companies offer it.
You generally have to cancel your trip no less than 48 hours before your departure. For example, if you’re leaving tomorrow and you want to cancel the trip today, you probably won’t be able to make a CFAR claim.
Make sure to read the policy’s fine print and know the deadline for canceling the trip if you buy CFAR insurance.
