When planning a trip, one of the most critical decisions you’ll make is choosing the right travel insurance. While many policies cover common issues like illness, injury, or natural disasters, there are situations where your trip might be canceled for reasons not covered by standard plans. This is where Cancel for Any Reason (CFAR) travel insurance comes into play. CFAR offers a safety net that allows travelers to cancel their trips for any reason, providing peace of mind and financial protection. In this article, we’ll explore the best CFAR options available in the United States, how they work, and what to consider when selecting the right policy.
What Is Cancel for Any Reason (CFAR) Travel Insurance?
CFAR travel insurance is an optional add-on to a standard travel insurance policy. It provides coverage that allows travelers to cancel their trip for any reason—whether it’s a change of heart, unexpected personal circumstances, or even a last-minute decision. Unlike traditional policies that only cover specific events, CFAR gives you the flexibility to cancel without needing to prove a particular cause.
However, it’s important to note that CFAR does not typically reimburse 100% of your trip costs. Most providers offer between 50% to 80% reimbursement of your non-refundable expenses, depending on the policy and the insurer. Additionally, CFAR policies come with strict conditions, such as time limits for cancellation and requirements for purchasing the coverage within a certain timeframe after booking your trip.
Top CFAR Travel Insurance Providers in the U.S.
Several major travel insurance companies offer CFAR options, each with unique benefits and limitations. Here are some of the top-rated providers in the United States:
1. Allianz Travel Insurance
Allianz is widely regarded as the leader in CFAR coverage, offering up to 80% reimbursement on prepaid, non-refundable trip costs. Their OneTrip Prime and OneTrip Premier plans allow travelers to purchase the Cancel Anytime upgrade, which permits cancellation as late as the day of departure. Allianz also includes comprehensive coverage for trip cancellations, interruptions, medical emergencies, and lost luggage.
Key Requirements:
– Insure the entire trip cost within 14 days of the first deposit.
– Trip must start at least 30 days from the date of purchase.
– Cancellation must occur before departure (as late as the day of departure).
2. Travelex Insurance Services
Travelex offers CFAR coverage through its Ultimate single-trip plan, which provides up to 75% reimbursement. This plan covers trip cancellations, medical emergencies, and more, with additional options for adventure activities and rental car coverage. However, Travelex has stricter eligibility criteria, including a maximum trip cost of $10,000 and a requirement to cancel at least two days before departure.
Key Requirements:
– Purchase the upgrade within 21 days of initial payment.
– Trip must be at least 31 days from the date of purchase.
– Total trip cost cannot exceed $10,000.
3. Nationwide Insurance
Nationwide offers CFAR coverage through its Prime plan, as well as cruise-specific options like Choice Cruise and Luxury Cruise. Their CFAR coverage provides up to 75% reimbursement, with similar requirements to other providers. Nationwide’s policies also include coverage for trip cancellations, delays, and emergency medical services.
Key Requirements:
– Purchase the CFAR upgrade within 21 days of the first deposit.
– Additional purchases must be added within 15 days of payment.
– Trip must be canceled at least two days before departure.
4. Seven Corners
Seven Corners offers CFAR coverage through its Trip Protection Basic and Choice plans, allowing up to 75% reimbursement. These plans also include coverage for trip delays, lost luggage, and medical emergencies. Seven Corners is known for its flexibility, with different plans tailored to domestic, international, and cruise travel.
Key Requirements:
– Purchase the upgrade within 20 days of the first deposit.
– Additional purchases must be added within 15 days of payment.
– Trip must be canceled at least two days before departure.
5. Tin Leg
Tin Leg offers CFAR coverage through its Gold plan, which provides up to 75% reimbursement. This plan includes coverage for missed connections, travel delays, and emergency medical care. Tin Leg is ideal for travelers looking for customizable coverage options.
Key Requirements:
– Purchase the CFAR upgrade within 14 days of the initial payment.
– Additional costs must be added within 14 days of the deposit.
– Trip must be canceled at least two days before departure.
How to Choose the Right CFAR Policy
Selecting the right CFAR policy requires careful consideration of several factors:
1. Reimbursement Percentage
The higher the reimbursement percentage, the better. Allianz leads the market with up to 80%, while others offer 75% or lower. Consider your budget and the value of your trip when choosing a provider.
2. Cancellation Timeline
Most CFAR policies require you to cancel at least two to three days before departure. Some allow last-minute cancellations, but these may come with stricter conditions.
3. Eligibility Requirements
Each provider has different rules about when you can purchase CFAR coverage. Some require you to buy it within 14–21 days of your initial trip payment.
4. Coverage Scope
Beyond CFAR, check if the policy includes other essential protections, such as trip cancellation, medical emergencies, and lost luggage.
Conclusion
Cancel for Any Reason (CFAR) travel insurance is a valuable tool for travelers who want the flexibility to cancel their trips for any reason. While no policy offers full reimbursement, the best options in the U.S. provide up to 80% coverage, along with comprehensive protection against other travel-related risks. By understanding the requirements and comparing the top providers—such as Allianz, Travelex, and Nationwide—you can choose a policy that fits your needs and ensures a stress-free travel experience. Always review your policy terms carefully and consult with your insurer to ensure you’re fully protected.
