Travel plans can be unpredictable. Thus, having the freedom to cancel a trip without losing your money is important. Some standard travel insurance policies offer coverage for various unexpected situations. But they often come with a fixed set of criteria. This is where CFAR (Cancellation For Any Reason) travel insurance becomes critical, offering travellers flexibility and peace of mind.
What is Cancellation For Any Reason (CFAR) Travel Insurance?
CFAR is a flexible travel insurance plan that allows you to cancel your trip for any reason and still receive a major reimbursement of your prepaid, non-refundable expenses. Unlike traditional travel insurance policies, which cover cancellations due to specific reasons such as illness, natural disasters or the death of a family member, CFAR extends your coverage to include any reason at all.
Such a useful and crucial Cancel For Any Reason Travel Insurance plan is now LIVE on our B2B travel agent portal, Riya Connect. Travel Agents can now offer this exclusive travel insurance plan to their customers and book Domestic CFAR Travel Insurance for their customers’ domestic trips. Here’s an in-depth look at the Domestic CFAR policy, its benefits, respective sum insured and coverage details.
Key Features of Cancellation For Any Reason (CFAR)
- Flexibility: Travel insurance policies are typically restrictive and often deny claims for reasons other than those covered in the policy. With CFAR, you have the freedom to cancel your trip for any reason that suits you, providing exceptional adaptability.
- Reimbursement Percentage: Typically, reimbursement percentages for CFAR policies are high. They reimburse up to 50-75% of your prepaid, non-refundable trip costs.
- Timing Requirements: CFAR policies usually require you to cancel your trip no later than 48 hours before your scheduled departure.
Cancel For Any Reason (CFAR) Travel Insurance
| Advance Trip Booking Duration | Premium Excluding GST |
|---|---|
| ≤7 days | INR 449* |
| ≥ 7 days ≤ 15 days | INR 550* |
| ≥ 15 days ≤ 30 days | INR 636* |
| ≥ 30 days ≤ 90 days | INR 723* |
Coverages
| Coverages | Sum Insured |
| Accidental Death | INR 5,00,000* |
| Permanent Total Disablement | INR 5,00,000* |
| Ticket Cancellation Extension | Max up to INR 5,000* |
- Accidental Death
In the unfortunate event of accidental death during the trip, the insured sum will be paid to the nominee or legal representative.
Sum Insured: ₹ 5,00,000
- Permanent Total Disablement
If an accidental bodily injury results in permanent total disability, compensation as per the table will be provided.
Sum Insured: ₹5,00,000
- Trip Cancellation Extension
This covers the amount of flight ticket expenses deducted by the airline under minimum cancellation charges. It applies to one-way ticket expenses if the flight booking is cancelled at least one day before the scheduled departure date.
Sum Insured: Up to ₹5,000
Eligibility & Terms For Cancellation For Any Reason Travel Insurance
- Age Criteria: 91 days to 70 years
- Nationality: Only Indian nationals are covered.
- Scope: The policy applies exclusively to domestic travel.
- Policy Duration: The travel insurance coverage starts from the scheduled departure date and time of the flight from the originating airport and ends upon the actual arrival date and time at the destination airport as per the booked flight ticket.
- Mandatory Coverage: All covers are mandatory; customers cannot choose individual covers.
CFAR (Cancellation For Any Reason Travel Insurance) is an excellent safeguard for travellers who want the flexibility to cancel their trips without financial losses. By understanding the policy details, premiums, and coverage, travellers can make informed decisions and enjoy peace of mind while planning their domestic trips.
