Posts Tagged ‘news’

If you wanna cancel your trip abroad just because the United States has issued a worldwide travel alert in the wake of the death of the 9\11 mastermind Osama bin Laden, you can do so, but dont hope that your money would be returned by your travel insurance. No, not unless you have a very special policy.

This is because almost all the travel or insurance packages are designed to cover only events and not states of mind, says insurers. So if your luck is bad enough to make you visit a city, on an insured trip, where some crazy terrorist has planned to attack when you are there, you could just cancel or stop your journey and get your money back. But in case there is no attack and you are frightened of going there, then most of the polices wont help you.

But here’s an exception: there’s one policy with a cancel-for-any-reason rider, which is in fact what it sounds. This term of the policy allows a person to cancel his or her trip for any reason, absolutely any reason. But there are a few terms. Firstly, to collect the rider you need to cancel minimum two days ahead of the planned departure and you will get back at the most 70% to 80% of your costs, says Peter Evans, executive chairman of an on-line insurance agency, InsureMyTrip.com. But you have to pay at least 50 percent more on a bundled trip policy which covers for your sicknesses, natural disasters, terrorism or other specified events, along with a premium that might be as high as 4 to 7 percent on your travel costs.