Do You Know About Trip Cancellation Insurance?

Current travelling situations around the globe is dire. A lot of people are facing flight cancellations and related non-refundable trip fares for flights, hotel reservation, airport parking. The services providers generally do not refund you for any unforeseen situations that may lead to cancellations such as Corona virus threat to spreading across boarders. But for people who had already bought and paid for the travel essentials have a lot of money on the line.

When you are obliged to cancel your holiday trip due to certain unforeseeable reasons that are beyond your control, then trip cancellation insurance covers you to some extent. Imagine, you were very excited about your upcoming travel and then you suddenly fracture your ankle just a week ahead of your departure. You can definitely not initiate your trip, but certainly would like to be reimbursed for the cancelled trip. At this point, you will be very happy and thankful for purchasing cancellation insurance or even simple travel insurance.

It is rather very frustrating when you have booked your flight, cheap airport parking Gatwick, hotel reservation, car rentals at the destination, but all of a sudden you realize that you will not be able to enjoy your travel to fullest. This is where trip cancellation insurance turns out to be very handy for the passengers.

What is the purpose of trip cancellation?

You are all ready to set off on your travel and then you have to cancel it all of a sudden. This will not only frustrate you, but you also have to come across various financial impacts of the cancellations like non-refundable meet and greet Manchester parking fee or pre-paid hotel fare, which will not be reimbursed by your tour operator. The cancellation fee is different for every tour operator and is increased if the trip has been cancelled close to the departure date. As the departure dates come closer, the cancellation fee increase and you will get only a small amount of money back. Make sure to contact your tour operator as soon as you know about trip cancellation.

Different types of cancellation fees are charged by the tour operators. Depending upon when you are going to cancel a trip, you might simply lose your deposit or charged a small percentage of the trip cost. The trip cancellation fee is extremely high when you have cancelled your trip at the last moment or have not been able to inform the operator until the departure time. In such cases, it will be fair enough if the tour operator charges you 100% of the trip cost.

When you have purchased cancellation insurance, it covers the costs that your tour operator has charged you at the time of booking. For example, you have purchased your flight ticket for €900. Due to some medical reasons, you have to cancel your trip a week before the departure time, the tour operator will charge you 75% of the amount you have paid for the flight i.e. €675. You will be re-compensated with €675 that you have paid to your tour operator, once you have taken cancellation insurance.

On the ticket purchase, right from the time of booking 100% penalty is implemented and it starts in all situations soon after the ticket is issued to you, nevertheless of your flight date and time. A significant cancellation fee is applicable for cruises 90 days ahead of flight day.

Which is the right time to claim trip cancellation insurance?

The cancellation insurance coverage is applied, when the trip is cancelled due to one of these reasons:

• If something happens after you have taken the insurance
• When you have to cancel the trip due to unforeseen reasons
• When the tip cancellation reason seems to be unintentional

The cancellation grounds greatly vary depending upon the policy. Make sure to go through the terms and conditions before purchasing an insurance policy. Check a few cancellation scenarios that are often covered:

• Death of any close family member
• You or (someone included in your immediate family) get injured or become seriously ill
• Certain kinds of damages incurred in your home
• You are required to change the dates of your paid leave from work
• There are certain natural disasters or terrorist activities at the destination
• Your tourist visa has been denied
• You have to re-sit in an examination
• You have lost tour ID or travel ticket
• You have either found a job or have been made redundant from your current job

To get yourself benefitted, you must report about the cancellation to your tour operator (mostly within 5 days of the certain incident). A documentation proof is needed from your end to confirm that it will not be possible for you to continue your travel along with a medical or death certificate, a certificate from your employer, or a similar document to support your claim.

When you should buy trip cancellation insurance?

You can buy cancellation insurance from a travel agency or can go for purchasing one from your tour operator’s website. The insurance cost is directly related to the trip cost and varies accordingly. In most cases, it ranges from 5% to 7% of the trip cost. Once you have reserved your holiday trip, you can take out comprehensive travel insurance from a reliable and authenticated travel insurance provider to cover your upcoming trip. You get cover for medical expenses, repatriation assistance and in case of any luggage lost or theft along with the trip cancellation cover. It is recommended to buy travel insurance soon after booking your trip so that you are immediately applicable for the trip cancellation cover in case you have to postpone or cancel your travel all of a sudden.

Is the bank insurance card enough for cancellation cover?

Trip cancellation insurance is mostly included in the "high-end" bank cards only. Gold MasterCard and Visa Premier Cards give you trip cancellation cover only when a certain illness forces you to cancel your tour, death of a close family member, damages incurred to your home or redundancy. The cancellation insurance is not valid for any other circumstances. Hence, bank card insurance is not enough to give you a trip cancellation cover.

Cancellation cover for parking arranges for your travels can be availed when you compare meet and greet Gatwick parking deals and book them in advance. You can add a cancellation cover feature to your deals and get a full refund in case of any unforeseen situation where you are not able to continue your journey.