Should You Get Trip Cancellation Insurance?

Skip It: For flights

It can tempting to purchase trip cancellation insurance when a flight costs hundreds or thousands of dollars.

But the basic policies are usually not worth your money to insure just your flight if you know your rights as a passenger.

Can you get trip cancellation insurance after booking?

You can purchase travel insurance anytime before the date of your departure. If you want a plan that includes valuable trip cancellation and trip interruption benefits, as well as benefits for existing medical conditions, you’ll want to purchase travel insurance as soon as possible after booking.

When should I buy trip cancellation insurance?

Many travel insurance coverages require you to purchase your plan within a specified number of days (usually 10-14) of making that initial trip deposit if the coverage is to be in effect. In fact, buying travel insurance as soon as possible is essential in avoiding some common insurance ‘loopholes’.

Does travel insurance cover cancellation?

Trip Cancellation Coverage reimburses you for pre-paid, non-refundable expenses if you need to cancel your trip before you depart. Covered reasons to cancel your trip: Sickness, injury, or death of you, a family member, or a traveling companion. Hurricane damages your destination or cancels your flight.

What is a covered reason for trip cancellation?

Typical covered reasons for trip cancellation/interruption include: Injury or illness of insured, travel companion, family member, or business partner. Hurricane or natural disaster strikes destination. Bankruptcy or financial default of travel company. Terrorism or mandatory evacuation at destination.