6 Reasons to Purchase CFAR Travel Insurance

When it comes to travel insurance, you read a lot about ‘covered cancellations’ or reasons that a travel insurance provider deems permissible to cancel a vacation or business trip and still receive reimbursement for any prepaid, non-refundable expenses. While these reasons often include sickness or death, smaller inconveniences — like a simple change of mind — are not considered a ‘covered event.’

For hesitant travelers or skeptical adventure takers, those traveling with family or young children, and frequent or indecisive business travelers, the limitations of standard travel insurance policies can make you think twice before purchasing. Enter the role of Cancel for Any Reason (CFAR) travel insurance. 

What is CFAR Travel Insurance?

Cancel For Any Reason insurance is a unique type of coverage that enables travelers to cancel upcoming plans for whatever reason. For most plans, it is available for trip expenses up to $10,000 per person; however, the trip must be canceled at least 48 hours before departure. Likewise, with most policies, payment for CFAR travel insurance must be made on or before 1 to 14 days from the date the first dollar was spent toward the trip. 

There are several differences between standard travel insurance and CFAR travel insurance. Standard insurance can reimburse up to 100% of insured trip costs, but the reasons for cancellation are limited. The best CFAR plans will reimburse up to 75% of trip costs (maximum of $7,500) but allow travelers to cancel for any reason. CFAR coverage details are especially beneficial in today’s uncertain travel environment. 

At a time when plans can change unexpectedly for a variety of reasons, such as global health concerns and political tensions, CFAR travel insurance gives travelers the freedom to cancel their itinerary, no matter what. When comparing CFAR vs. standard travel insurance, it’s vital to realize that while you may not recoup 100% of your expenses, you will have more autonomy over your travel investment.

Is CFAR Travel Insurance Worth the Cost? 6 Priceless Perks

No matter if you’re indecisive or increasingly wary about your travel ideas, it’s common to question if trip cancellation plans are worth it. The answer is a resounding yes: CFAR travel insurance is absolutely worth the cost. Consider these six reasons for purchasing CFAR travel insurance before a trip. 

1. Flexibility in Travel Plans

CFAR travel insurance is by far the most flexible travel insurance. After all, providers don’t call it ‘Cancel for Any Reason’ insurance for nothing — travelers can truly squash their upcoming plans for whatever reason they desire. There’s no list of covered reasons or clauses travelers have to abide by; they simply have to cancel beyond the specified 48-hour timeframe before departure, and they’re set. 

As such, one of the main reasons to buy CFAR insurance is to protect against unpredictable travel scenarios. Has there been a sudden shift in global health conditions? You can cancel for that and still be reimbursed, shielding your financial investment. What about if a close friend suddenly experiences a personal tragedy? You can cancel for that, too, and still receive 75% of your total trip costs. 

2. Protection of Non-Refundable Expenses

Speaking of trip costs, CFAR travel insurance benefits cover up to 75% of non-refundable trip expenses like flights, hotel bookings, and excursions or tours. While these expenses could otherwise be lost in the event of a cancellation, CFAR travel insurance for non-refundable costs acts as a safety net, becoming the difference between a total loss and a manageable setback if things go awry. 

3. Peace of Mind for New Relationships

Travel is something that can strengthen the bonds of a new connection, whether it’s a couple taking one of their first trips together or new friends planning their first group vacation. However, it’s so easy to get caught up in the excitement of a new relationship that non-refundable expenses can pile up before you know it. In the unfortunate event that these connections come to an end before your departure date, CFAR travel insurance can help recoup your funds.

4. Family-Friendly Coverage

It’s no secret that families often face unique challenges when planning travel. It’s complicated enough to coordinate travel plans with school and work schedules. Once you factor in how frequently children’s schedules can change or how unexpectedly family emergencies can arise, you’ll want travel insurance benefits that don’t limit cancellations to a set number of covered events.

So, can families benefit from CFAR travel insurance? Absolutely! CFAR travel insurance benefits families of all shapes and sizes, from couples traveling with little ones to larger groups planning a reunion of older adults and everything in between. CFAR family travel insurance accommodates school-related changes, sudden emergencies, and other scenarios, protecting travelers’ financial investment.

5. Ideal for Business Travelers

Beyond families, another group of travelers that face frequent trip cancellations is business travelers. Whether it’s a change in client schedules or a last-minute destination modification, CFAR insurance for business trips offers financial protections for corporate travel plans. With CFAR trip cancellation, employees will not be held responsible for non-refundable expenses should plans need to change. 

6. Enhanced Travel Confidence for Adventurers

Have a taste of wanderlust? You’re not alone — but before you drop thousands of dollars on adventure travel insurance, invest in CFAR policy benefits that reduce the financial risk of last-minute cancellations. This way, if a trip that sounded good last month no longer seems interesting today — or the destination is no longer deemed safe — you can cancel your spontaneous plans with less loss. 

Find the Best CFAR Travel Insurance from Aegis

No matter if it’s a dream vacation or an important business meeting, there’s always time for something unexpected to shift your travel plans. With CFAR travel insurance, you have up to 48 hours before you’re scheduled to depart to cancel your trip entirely and still recoup up to 75% of the insured trip cost. If you’re looking for comprehensive travel insurance, look no further than Aegis.

Compare Aegis Go Ready plans today to explore the best CFAR travel insurance on the market.