Travel insurance plans provide the most important coverage you could need on your trip called trip cancellation coverage. Trip cancellation insurance is used to protect the prepaid, non-refundable trip payments. Trip cancellation coverage becomes effective from the next day of the purchase and is in effect until you depart on your trip. Even with the protections offered, some travelers wonder whether travel insurance can be cancelled and if they would get a refund.

Free Look Period

Is trip insurance refundable? All travel insurance plans come with a free look period, also called a “money back guarantee” by some companies. The duration of the free look period typically ranges from 10 to 14 days, depending upon the plan. During this free look period, travelers have time to review their policy documents, such as policy wording, which includes benefits and exclusions, to determine whether the travel insurance they have purchased is appropriate for their needs or not. Within the free look period, travelers can cancel their policy for any reason and get a full refund, provided they have not yet departed on their trip.

As this website already provides several travel insurance plans, you can compare plans and read the policy documents for them upfront. This allows you to make an educated decision before you buy, so you won’t necessarily need to cancel travel insurance after buying coverage just to read the policy documents. In addition to our excellent website options available to help you make a decision, we also have expert licensed insurance agents waiting to help you select the most suitable plan for your specific needs.

Alternatives

If you need to make some changes to your policy, cancellation is not the only available option.

If you just need to increase or decrease your trip cost, you can do that at any time up to the trip departure date.

However, if you are increasing the trip cost and want to purchase cancel for any reason travel insurance (also known as CFAR travel insurance), or you are purchasing a plan that requires you to insure the full trip cost within a specific duration of your initial trip cost, you may not get all the benefits that you were looking for in a plan. Therefore, before you cancel your coverage, please keep this information in mind.

Refund of Insurance Cost After Trip is Cancelled

Travel insurance, specifically the trip cancellation coverage within that, is meant to cover the prepaid, non-refundable costs for the travel arrangement such as airfare, cruise cost, tours, excursions, hotel reservations, and so on. The cost of the travel insurance itself should not be included because the cost of the travel insurance is not insurable under the trip cancellation benefit of travel insurance.

Therefore, if you need to cancel your trip for a covered reason, you would receive a refund for your prepaid and non-refundable costs, but not what you paid for the travel insurance.

How to Cancel Travel Insurance

If you would like to cancel your travel insurance plan and you’re within the free look period, please look into MyAccount to request cancellation.