Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Our analysis found that AIG, Seven Corners and WorldTrips offer the best “cancel for any reason” travel insurance. If you cancel for reasons not listed in the policy, a travel insurance policy with CFAR typically reimburses 75% of your insured trip costs
You’ll want to look for optional upgrades—such as CFAR—when shopping for the best travel insurance so you get the most flexibility from your benefits.
Our Guides
Compare & Buy Travel Insurance
Show Summary
Summary: Best “Cancel For Any Reason” Travel Insurance Ratings
Top-scoring policy name Company Forbes Advisor Rating Average cost for plan with CFAR
Source: Forbes Advisor research. Average prices are based on rates for seven different trips with a variety of traveler ages. Note that plans have different levels of benefits, which can account for price differences.
How We Chose the Best “Cancel for Any Reason” Travel Insurance
AIG
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Seven Corners
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
WorldTrips
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Aegis (formerly GoReady)
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
John Hancock Insurance Agency
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Tin Leg
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Travel Insured International
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Travelex Insurance Services
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
USI Affinity
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
WorldTrips
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
AIG
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Nationwide
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
Seven Corners
Via Forbes Advisor's Website
Expert’s Take
Drawbacks
Plan Details
What Is “Cancel for Any Reason” Travel Insurance?
“Cancel for any reason” insurance lets you cancel a trip for a reason not listed under your trip cancellation insurance 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 coverage 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 non-refundable 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. Being eligible to buy CFAR is one of the advantages of buying travel insurance right after you book a trip.
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.
How Does “Cancel for Any Reason” Coverage Work?
Like any other type of insurance, CFAR has some rules that apply to how you’re compensated when you file a claim.
Summary: “Cancel for Any Reason” Coverage
What does CFAR do?
CFAR gives you the ability to cancel a trip for any reason and receive partial reimbursement.
How much money do I get back?
With a CFAR claim you get back only a portion of what you lose in prepaid and non-refundable deposits, usually 75%.
Can I buy CFAR at any time?
You generally need to buy CFAR coverage within two to three weeks after your first trip deposit by adding it to a base travel insurance policy. If you want to buy CFAR coverage, make sure to know the purchase deadline so you don’t miss it.
Can I cancel my trip any time and make a CFAR insurance claim?
You generally need to cancel no less than 48 hours before your departure in order to make a CFAR claim. Once you’re within two days of leaving on the trip, CFAR coverage generally ends.
How much does “cancel for any reason” coverage cost?
Expect CFAR to add an average of 50% to your travel insurance cost.
What Does “Cancel For Any Reason” Insurance Cover?
CFAR covers the prepaid, non-refundable trip expenses that you have insured. It reimburses you for a percentage of the total cost if you cancel the trip for a reason not listed in the base policy..
For example, using CFAR coverage you could make a trip cancellation claim because:
- You’ve developed a fear of travel.
- It looks too rainy or too hot.
- You’ve seen bad reviews of your resort.
- You’ve decided to visit family instead.
- Your child care arrangements have fallen through.
- You got into a fight with your travel companions.
- Your pet has fallen ill.
If you file a CFAR claim, you can be compensated for the following types of trip expenses if you can’t get a refund for them:
- Airfare.
- Boat charters or rentals.
- Concert tickets.
- Day trip excursions.
- Hotel accommodations.
- Museum tickets.
- Theme park passes.
- Private or guided tours.
- Spa services.
Here’s a look at how much you may get reimbursed by filing a CFAR claim: Let’s say you booked a non-refundable round trip plane ticket for $1,000 and five nights of lodging at $200 a night, also non-refundable. You would insure the trip for $2,000.
If you cancel your trip for a reason that’s not listed in your travel insurance policy, you would be out $2,000 without CFAR insurance. But a CFAR policy would reimburse you for a portion of the costs.
- If you have a CFAR policy with 50% reimbursement, you would get $1,000 from a CFAR travel insurance claim.
- If the policy has 75% reimbursement, you would get $1,500 back from a CFAR claim.
Remember that CFAR coverage is only for non-refundable costs. Any prepaid costs that are reimbursed to you aren’t eligible for CFAR coverage.
Compare & Buy Travel Insurance
Do I Need “Cancel For Any Reason” Travel Insurance?
You may need CFAR travel insurance if you plan an expensive trip with lots of non-refundable costs. CFAR is also beneficial if you think it’s possible you may have to cancel your trip for a reason not listed in the policy.
Expert Tip
Do You Need Cancel For Any Reason Insurance?
I don’t think you necessarily need CFAR if your airline, hotel or other travel service companies have generous refund policies. It also might be unnecessary if you can easily afford to lose your trip deposits.
I recommend weighing the cost of a CFAR upgrade against the likelihood you think you will need it. Buying CFAR usually hikes your travel insurance policy cost by 50%. But CFAR can also be valuable simply for the peace of mind that you’ll be able to get some reimbursement if you want to cancel for a reason not listed in the base policy.
How Much Does “Cancel for Any Reason” Insurance Cost?
Travel insurance with “cancel for any reason” coverage costs an average of $723 per trip, based on our analysis. CFAR usually adds about 50% to the cost of travel insurance.
ASK THE EXPERT
We Answer Your Questions
Why is CFAR so expensive?
Cindy S., Alexandria, Virginia
Because you can cancel for any reason when you have a CFAR upgrade, the likelihood that you’ll file a claim is higher. Insurance companies charge higher rates for CFAR to help mitigate the cost of potential claims they will have to pay.
Methodology
We analyzed travel insurance policies that include “cancel for any reason” coverage. We scored 23 policies on the following:
Cost (75% of score): Average prices for CFAR policies are based on rates for seven different trips for a variety of traveler ages and trip costs:
- Couple, age 30 for a Mexico trip costing $3,000.
- Couple, age 40, for an Italy trip costing $6,000.
- Family of four for an Italy trip costing $15,000.
- Family of four for a France trip costing $15,000.
- Family of four for a U.K. trip costing $15,000.
- Couple, age 65, for an Italy trip costing $6,000.
- Couple, age 70, for a Mexico trip costing $3,000.
CFAR reimbursement level of trip cost: (25% of score): Policies providing 75% reimbursement were awarded points.
Other CFAR Travel Insurance Ratings
Company Policy name Forbes Advisor rating
Safe Travels First Class
Gold
Prime
Classic
TripProtector Preferred
Luxury
Diamond
Platinum
iTravelInsured Travel LX
“Cancel for Any Reason” Travel Insurance Frequently Asked Questions
Is CFAR travel insurance worth it?
Is fear of traveling covered by travel insurance?
What if I don’t have CFAR but I want to cancel my trip?
What does CFAR not cover?
Next Up In Travel Insurance
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Michelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine editor covering consumer technology, a foreign correspondent for Time and various newswires and local newspaper reporter.
Travel and Health Insurance Expert
Joe Cronin is the president of International Citizens Insurance, a subsidiary of International Citizens Group Inc. He is responsible for all aspects of International Citizens Insurance operations, including strategy, marketing and sales. An expert in international health, life and travel insurance plans, Cronin is focused on providing international citizens, expatriates and global nomads with the best advice on ensuring they are covered for medical emergencies worldwide. International Citizens Insurance is that resource. Having lived and traveled throughout the world, his vast experience is now available to visitors researching global insurance plans for all situations.
With his expertise in international financial services, travel and new media, he founded and grew Edvisors, Envisage International and the International Education Finance Corporation into multimillion dollar businesses.
Cronin has lived in or traveled to every corner of the globe, including Moscow, Tokyo, Mexico City, Sydney, London, Argentina and Athens. He believes that an essential benefit of international travel is how it brings different cultures together. Cronin is passionate about helping expatriates with their international relocation and helping travelers of all types secure safe, affordable and effective global insurance for their international adventures.
Most Popular
Comments / 0