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Can I buy travel insurance with coverage for cancellation for any reason?

Can I buy travel insurance with coverage for cancellation for any reason?Over the last several years travel insurance has been gaining popularity for those who travel overseas. In fact, it’s almost a “must have” if you invest a significant amount of money in your travel plans.

Such insurance can protect you from financial losses should something go wrong before or during travel. But you may be asking yourself, “Can I buy travel insurance with coverage for cancellation for any reason?”

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Yes, you can buy travel insurance with cancellation coverage for any reason. Yet like any insurance product, the cost of travel insurance depends on what your needs are and what you’re willing to pay. Policies start from the most basic of coverage and move all the way to those that will deal with any potential problem you could have before or during travel.

Regardless of type of policy issued, a cancellation coverage rider can be purchased if it’s not included.

Basic Travel Insurance and What it Covers

Travel insurance policies vary by provider, but as a general rule there are a few things you can expect from basic coverage. Basic coverage will usually provide you with benefits to reimburse you if your trip is canceled by a travel agent, cruise line, or tour operator. In such a case you can expect to recover the entire amount you have already paid into the trip. Basic coverage will also provide the benefits of several days expenses should your trip be delayed or interrupted.

In case of emergency, basic travel insurance generally covers lost or stolen baggage, medical and health expenses up to about $10,000 or so, costs associated with luggage delay, and 24-hour traveler assistance to help you with a variety of other needs. Typically, the basic package does not include cancellation for any reason coverage. Most providers will allow you to purchase a rider at an additional cost.

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Intermediate Level Travel Insurance and What it Covers

An intermediate level policy is one that includes all the coverage of the basic policy yet with a few more enhancements. For starters, the health and medical insurance is upwards of $50,000.00. You will probably also get accidental death coverage of about $25,000.00. The benefits for travel delays are increased and in some cases, reimbursement for interrupted or canceled plans can be as much as 125%.

The option for canceling at any time for any reason is sometimes included in an intermediate policy. The option to cancel for any reason is good if you have health problems that might prevent you from taking your trip. For example, a winter trip to the Caribbean planned by someone with MS may be booked several months in advance. But if the traveler’s health prevents him from taking the trip at the scheduled time, the cancellation coverage would reimburse him.

The nice thing about cancel for any reason coverage is that “any reason” truly means “any reason.” You may have to cancel for health-related issues, financial difficulty, change in life circumstances, or just about any other reason that prevents you from traveling. Generally, it is “no questions asked coverage” that will reimburse you if you must cancel your plans.

Premium Level Travel Insurance and What it Covers

Premium level travel insurance has just about everything covered. Health and medical coverage can be as high as $1 million, including the cost of medical evacuation. Coverage for lost baggage, accidental death, and a delayed or interrupted trip are significantly higher. In addition, many premium policies also cover acts of terrorism, and include 24-hour concierge service. Because of what they offer, premium level insurance policies are rather expensive.

Cancel for Any Reason Coverage is Worth the Added Expense

Because of our busy lifestyles and ever-changing circumstances, travel insurance is a good investment when you must book your travel plans well in advance. It is especially important for those who purchase discounted travel packages that do not provide for refunds. Having the peace of mind that comes with cancel for any reason coverage makes planning future trips much easier on the heart and mind.

The only caution with cancellation coverage is that the traveler must be sure of any restrictions or conditions. Many of these policies require that a trip be canceled two or three days prior to departure in order to be reimbursed. When you purchase a travel insurance policy with cancel for any reason coverage, just be sure to read the fine print.

Right now is the best time for you to enter your zip code and start your search for the best travel insurance quotes across the Internet!

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