Post by Owen on May 11, 2020 15:10:53 GMT
1 ~~~ Cancel for Any Reason Insurance, Explained ~ SmarterTravel ~~~
You’ve probably seen lots of stories lately suggesting that you buy “cancel for any reason” (CFAR) travel insurance.
This suggestion is based on the fact that conventional trip-cancellation insurance is “named peril” insurance.
Meaning: Reimbursement is contingent on a specific exigency named in the policy:
If it isn’t named, you aren’t covered.
Focus on “any reason” insurance has assumed prominence recently because many conventional policies do not include an epidemic or fear of an epidemic as a “covered reason.”
Often, however, recommendations to buy “any reason” insurance don’t provide details about how it actually works.
Here’s what you need to know:
www.smartertravel.com/cancel-for-any-reason-insurance-explained/
You’ve probably seen lots of stories lately suggesting that you buy “cancel for any reason” (CFAR) travel insurance.
This suggestion is based on the fact that conventional trip-cancellation insurance is “named peril” insurance.
Meaning: Reimbursement is contingent on a specific exigency named in the policy:
If it isn’t named, you aren’t covered.
Focus on “any reason” insurance has assumed prominence recently because many conventional policies do not include an epidemic or fear of an epidemic as a “covered reason.”
Often, however, recommendations to buy “any reason” insurance don’t provide details about how it actually works.
Here’s what you need to know:
www.smartertravel.com/cancel-for-any-reason-insurance-explained/