Sometimes, the requirements for using this benefit are quite limiting: Basic Trip Cancellation Covers These Situations: unexpected illness or injury (requires physician's order) In recognition of the unforeseeable and unique actions of the public health and government agencies in response to COVID-19, AMEX Assurance Company (“AAC”) is implementing, for a limited period, a one-time exception to the applicable “free look” periods stated in the AETI certificate/policy. With CFAR insurance, you can also simply decide not to go and still be protected for the majority of your trip expenses. To see only the plans that may have coverage for Coronavirus during the quote process, select "Cancel For Any Reason" when choosing coverage to display. Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. offer insurance packages you can buy with your vacation or travel package. “Cancel for any reason is designed to give travelers the option to cancel a trip for ‘any reason,’” she explained. Yes, if you’re booking a trip and have some doubt as to whether you might have to cancel, it can be worth it. For rates and fees of the Amex Platinum Card, click. Simply log in to your account and then pull up the chat feature which you can find in the bottom right corner of your screen. Let’s take a look at a few of the best cards that offer the coverage. All Rights Reserved. If you purchase coverage that reimburses up to 50% of your total trip costs, it will cost less than purchasing coverage that reimburses up to 75%. Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. Publication Date: March 2, 2020 And if you’re like most consumers, you’d like to find the lowest price possible at the time of purchase, yet have the best coverage in the event of a claim. You usually must cancel two days or 48 hours before your trip start, and then you only receive back 75% of your trip's nonrefundable costs (this may vary by policy). Click here to see a list of advertisers that we work with. Her expertise is traveling the world on a weekend with no pre-determined destination in mind, letting the cost of the airfare determine where she will go. Christine, who lives in Northern Michigan, travels about 300,000 miles a year despite her remote location. The decision to cancel your trip is personal and for you to decide. American Express Travel Insurance Plans Examples of potentially covered events include: Trip cancellation insurance reimburses for pre-paid, non-refundable trip costs lost due to cancellation of your trip for a covered reason. And when the initial shock wears off of having to cancel a trip, having purchased a travel insurance plan can bring peace of mind, and potentially much more: reimbursements and other assistance that can make … There are many resources available that you may consult including: the WHO and the CDC websites, your travel provider or your travel agent. For more information on our advertisers, see here. One way to ensure you’re getting the best travel insurance coverage possible is to consider “Cancel for Any Reason” (CFAR) coverage. If your plan does have [one], be sure you understand the terms,” says Beth Godlin, president of Aon Affinity Travel Practice , a leading travel insurance provider. Amex will reimburse non-refundable travel expenses up to the value of $10,000 per trip (max $20K per 12 months) if your trip is canceled or interrupted for a covered reason. Please refer to your purchased certificate/policy or see a sample certificate /policy on the American Express Travel Insurance website for a full description of all terms, conditions, provisions and exclusions. However, it is not really any reason, any time, full refund unconditionally and no questions asked. Bottom Line: Standard trip cancellation insurance does not allow you to cancel your trip due to fear of getting the COVID-19 virus. No, American Express Travel Insurance covers only specified covered reasons. The information provided is for informational purposes only and should not be considered financial, tax or legal advice. By accepting this offer, you agree that all of the insurance in the certificate/policy is completely and totally void as if it had never been purchased or issued in the first place and that no claims will ever be paid. Once again, we used a scenario of 2 travelers ages 35 and 37 traveling to Italy on a $3,000 trip in October. Tip: “Travelers assume that they have a cancel-for-any-reason [travel insurance] plan, but most people actually don’t, since that comes with a considerably higher premium. The Travel Insurance service from American Express US allows you to create and customise your own Travel Insurance coverage. Cancel American Express cards via chat. You may not be able to purchase travel insurance or CFAR coverage for travel to some high-risk areas. In addition to protecting your investment, you are also purchasing the peace of mind you receive in the time frame leading up to your trip. However, select cruise only policies offer Cancel For Any Reason anytime before a traveler has made their final trip payment. If you do not need CFAR insurance, the coverage on your credit card may be sufficient. Information contained in this document does not modify or change the terms of coverage included in your purchased certificate/policy. When you purchase travel insurance, you receive basic trip cancellation with most policies. You’ll find trip cancellation as a core coverage on most travel insurance policies. Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site — and prior to applying for any credit card offers found on UpgradedPoints.com, all visitors should review other features of such credit cards including but not limited to interest rates, annual fees and transaction fees, and should determine the suitability of such credit cards considering their own individual financial position. Opinions and product recommendations on this site are ours alone, and have not been influenced, reviewed or approved by the issuer. All plans have trip length limits of 31 or 60 days, depending on the plan. And in some cases, you may be covered for some additional expenses. Updated: March 13, 2020  Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. Cancel For Any Reason is a time-sensitive upgrade. Insure My Trip recommends a comprehensive policy with Cancel for Any Reason coverage for consumers who are looking to select policies that would cover voluntary trip cancellations. Travelers who opt for CFAR will need to insure 100% of their pre-paid and non-refundable trip costs and buy it within a set amount of days from their initial trip payment (usually 21 days or less) in order to be eligible for this optional upgrade. The cancellation must occur not less than a defined number of days or hours prior to the scheduled trip departure (see table below). Travel LX is administered by International Medical Group (IMG) and underwritten by United States Fire Insurance Company. Limitations vary, but requirements to purchase CFAR coverage can be as soon as within 24 hours of the first initial deposit you make on your trip or you may have as much as 21 days. You may want to go to insuremytrip.com and compare different policies. It generally adds about 40% to the travel insurance … Consider these AAA travel insurance options before your next trip: Trip cancellation or interruption insurance to protect you in the case of a canceled or interrupted trip due to an unforeseen event, such as inclement weather, illness, death, or the bankruptcy of a cruise or tour line. Aardy recommends Cancel for Any Reason insurance if you’re booking an expensive trip and think you might need to cancel. If your trip is canceled due to a covered reason, coverage is afforded up to $10,000 per incident. A: There are a few credit cards on the market that come with trip cancellation and interruption coverage but surprisingly, none of the AmEx cards offer it.You won’t even find it on their high-end Platinum and Centurion cards. Let’s explore CFAR insurance: what it covers, what it doesn’t cover, and some of the time-sensitive restrictions for purchasing the coverage. At this point it may occur to you to buy travel insurance as you now need to cancel your trip and are set to lose out on a whole lot of cash. 800-487-4722 Travel Insurance One of our favorite travel rewards cards also comes with trip cancellation and trip interruption coverage. Usually, this benefit is an additional charge on the plan, but it comes with extended coverage that you may find worthwhile. The first and last name on the AETI certificate/policy, The certificate/policy number (beginning with #5000xxxxxxxx), The reason you are requesting the termination of the AETI certificate/policy, A phone number at which you can be reached. Hot Tip: AardvarkCompare offers this tip for realizing big saving on airline tickets: if you’re purchasing a refundable fare ticket because you’re not sure of your exact schedule or think there is a chance you might have to cancel, purchase a non-refundable fare for a fraction of the cost and insure the flight with CFAR. While it may not make sense to insure inexpensive trips, if you’re booking flights, hotels, and activities that involve non-refundable deposits, having the added protection will ease your mind and come through for you if you should need to use the coverage. We’ll also  show you how to find CFAR insurance and discuss which policies might apply to known COVID-19 virus-related events. Cancel for Any Reason coverage is the only coverage option available for new policies to cover coronavirus. Please review. The American Express Travel Insurance certificate of insurance/policy includes details regarding the Covered Reasons for which a Doctor’s note is required. Get 25% more value when you redeem for travel through Chase Ultimate Rewards. All rights reserved, Check for Pre-qualified Credit Card Offers, Credit Intel – Financial Education Center, American Express Travel Insurance website, Center for Disease Control and Prevention. With that being said, you may be willing to pay the extra money to have peace of mind that you’ll recoup most of your funds should you need/want to cancel. That’s where travel insurance can protect you and your wallet from these unforeseen events, so you can have peace of mind and enjoy your trip stress-free. 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