Mueller recommends that you weigh the cost of CFAR coverage against your own personal tolerance for paying penalties if you decide to cancel. Buying CFAR usually hikes your travel insurance policy cost by half.Ĭarol Mueller, a spokesperson for Berkshire Hathaway Travel Protection, says ‘cancel for any reason’ coverage is worth the added cost if you want to protect your trip investment for reasons that aren’t covered for cancellation-like simply deciding you don’t want to go. You’ll also want to weigh the costs of a CFAR travel insurance upgrade. CFAR also might be unnecessary if you can afford to lose your trip deposits. If your airline, hotel or other travel service companies have generous refund policies, CFAR may not be worthwhile. This is especially true if your trip includes a lot of nonrefundable deposits. Any prepaid costs that are reimbursed to you aren’t eligible for CFAR coverage.ĬFAR travel insurance is likely worth it if you want the peace of mind that your travel insurance policy will partially reimburse you if you decide to cancel your trip. Remember that CFAR coverage is only for nonrefundable costs.
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