Our team of experts is here to provide you with answers to your insurance questions and unbiased product reviews. We strive to offer valuable information to our readers, and while we may receive a commission from our partners, our opinions remain our own. If you have plans for a once-in-a-lifetime trip, it’s important to consider protecting your investment with comprehensive travel insurance that includes a “cancel for any reason” (CFAR) clause.
Travel insurance can be a lifesaver when unexpected expenses arise during your adventure. Whether you have a complex itinerary, are traveling to a costly destination, or have inflexible deadlines, having adequate insurance coverage can provide you with financial peace of mind. The CFAR coverage option adds an extra layer of protection, enabling you to recoup a portion of your costs if you need to cancel your trip.
Let’s take a look at some of the best CFAR travel insurance options for 2023:
1. Seven Corners Travel Insurance: This insurance provider offers diverse coverage options, including CFAR and optional sports equipment coverage. They operate in all 50 states, giving you nationwide coverage. However, it’s worth noting that their prices tend to be higher than some competitors, and customer reviews regarding claims processing are mixed.
2. Travel Guard: Travel Guard provides trip cancellation coverage of up to 100% of the trip cost and trip interruption coverage of up to 150% of the trip cost. They also offer CFAR coverage, medical coverage of up to $500,000, and evacuation coverage of up to $1,000,000 per person. In addition, they include COVID coverage and offer above-average baggage loss and delay benefits. Premiums may be slightly higher than those of other insurers.
3. Travelex Travel Insurance: Travelex offers options to cover sports equipment and increase medical coverage. They allow you to cancel up to 48 hours before travel when CFAR is purchased. Travelex is known for providing affordable coverage for budget-conscious travelers but has only two insurance plans to choose from. CFAR coverage with Travelex reimburses up to 50% of total trip costs, and their medical coverage is limited to $50,000 per person.
4. Trawick International Travel Insurance: Trawick International is an excellent choice for adventurous travelers headed to higher-risk destinations. They have affordable plans with varying levels of coverage and offer a 10-day free look option. Trawick provides generous baggage loss replacement policies and trip delay coverage that kicks in after just six hours. Some of their policies also allow for CFAR add-ons. Additionally, they offer up to $1 million in medical evacuation coverage.
These are just a few options for CFAR travel insurance in 2023. It’s important to review the specific coverage details and compare policies and rates to find the best fit for your needs. Remember to consider factors such as trip cancellation coverage, trip interruption coverage, and medical coverage limits. Some insurers may also offer additional perks, such as coverage for preexisting medical conditions or adventure sports. Taking the time to research and choose the right travel insurance can give you peace of mind and protect your investment in your dream trip.