Travel Cancellation Insurance: Conditions and Reasons for Cancellation

Travel Cancellation Insurance: What is it?

The principles of this insurance are as follows: If the insured has to cancel the trip at the last moment for one of the reasons set out in the contract, the insurance company will more or less guarantee a full refund (excluding the deductions specified in the contract). .. The price of his ticket, or the amount left for the travel organizer or seller to bear. This is for donation payments.

Whether the guarantee is included in your travel price, attached to your bank card, or taken out as an option by your travel agent or insurance company, you need to be aware of certain points. Things to check before signing:

  • Warranty limit;
  • Exclusions (especially illnesses that occurred before the signing date of the contract);
  • Applicable deductions.
  • Conditions of compensation (especially in the case of illnesses where the insurance company may require conditions clearly defined in the general terms of the contract-cannot leave the bed, medical supervisor makes it impossible to leave, can not The insured’s condition, which is incompatible with the planned transport mode, has been postponed for emergency treatment).

Compensation for cancellation costs

If the cancellation fee varies from service provider to service provider, the general rule is that the closer the cancellation is to the departure date, the higher the remaining share the customer has to pay. Guarantee governing principle: The reason caused by the insured must be unpredictable at the time of signing and the facts must be unintentionally caused. Only cancellations due to the reasons stated in the general terms of the contract will be covered.

caveat : With respect to illness, the consequences of the illness suffered by the insured prior to the conclusion of the contract are always excluded from the warranty and no compensation is provided.

The main reason for cancellation

Compensation will be provided if the terms of the contract provide for the reason raised by the insured. Main reasons for cancellation concerns:

  • Illness of one of the insured or relatives (spouse, child, parents, son-in-law or daughter-in-law).
  • Death of the insured or one of his relatives.
  • A serious accident that could affect the insured or one of his relatives.
  • Significant property damage affecting the insured’s home, villa, establishment, or car.
  • Occupational reasons (financial redundancy, transfers, vacation day changes, entry into new jobs);
  • Summon as a large jury trial.
  • Summon to a college orthodontic exam.
  • Occurrence of events in the destination country (political events, attacks, natural disasters, etc.).
  • Occurrence of random events (see insurer-specific definitions in the general terms of the contract).

I want to know: Cancellation guarantees usually only work if the cancellation is from the insured. Cancellations by the service provider are not covered by the insurance company and will only be covered by the general terms and conditions of travel that may be offered in this case.

The amount of repayment in the event of a complaint mainly depends on the reason for cancellation (whether or not it is stipulated in the contract) and the date of cancellation. If you encounter a problem that could lead to cancellation, it’s best to contact your insurance company to see what to do and whether your coverage is met.

Interest in taking out cancellation insurance

As an option, this insurance can be very interesting if the travel reservation is very early compared to the date set on the departure date, especially for expensive trips. Conversely, if you choose to travel a few days before your departure, you can be very successful without cancellation insurance. This is usually a trivial savings.

Good to know : Travel cancellation insurance is systematically provided by legally required providers.

Travel cancellation premium

If fare conditions are imposed as part of the travel fee or insurance included in the credit card package (usually limited to the finest version), the optional warranty or insurance company offered through the service provider will make a contribution to the travel. You will see it change according to value.

Contribution is usually calculated by applying a rate of 3-6% to the overall price of the trip and a guarantee of up to € 5,000-Euro 8,000.

I want to know:This cover is also available as an option within the framework of a multi-risk travel insurance policy.