If you’ve ever had to cancel a long-anticipated vacation because of a family emergency or had a scheduled flight cancelled or rerouted when a hurricane came ashore at your final destination, chances are you’ve had to absorb some or all of the costs. Maybe your cruise deposit was not refundable, or you had to pay for a hotel room to spend the night in a stopover city, or your passport was stolen and you needed to pay and wait for an emergency replacement. These types of unexpected travel losses can be covered by purchasing a trip cancellation policy.
Trip Cancellation Insurance
Unlike travel medical insurance – which covers medical costs you incur while traveling – trip cancellation insurance covers the cost of the trip itself. Travel costs include:
- Airline and cruise fare
- Hotel and lodging
- Any other part of the cost you pay up front
Trip cancellation coverage can reimburse you up to the entire cost of your trip if you have to cancel due to any of the following:
- Injury or illness
- The death of a family member
- A flight cancellation due to inclement weather
- Jury duty
- An unannounced strike
- A natural disaster at your destination
In addition to trip costs, trip cancellation coverage can also pay for replacement travel documents, lost luggage, unexpected hotel expenses, and emergency evacuation costs while you’re traveling.
If you are planning a trip and want to ensure that you’re fully covered, IMG offers three levels of coverage for trip cancellation and interruption insurance. Policies can be purchased months in advance or shortly before your departure date. Depending on the cost and length of your trip, you may be able to get covered for less than $100.