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Best Cancel for Any Reason Travel Insurance of 2024

See which insurers are the best for affordability, coverage, and more

By
Elizabeth Rivelli
Elizabeth Rivelli
Full Bio
Elizabeth Rivelli is an insurance writer passionate about helping people navigate the complex world of insurance to help them make empowered choices.
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Published January 19, 2024

The best cancel for any reason (CFAR) travel insurance provider is USI Affinity, which offers seven cancel for any reason plans and the cheapest premiums of all the companies we researched. To help you choose the best cancel for any reason travel insurance, we evaluated 18 companies based on 28 criteria. Some of the factors we looked at include the maximum CFAR reimbursement rates (20% of the score), premiums (17.5%), number of policy types available (7.5%), and trip cancellation coverage amounts (5%).

If you’re a frequent traveler, having travel insurance can be valuable. But if you need to cancel a trip, your policy will only refund your prepaid expenses due to certain circumstances. Adding cancel for any reason travel insurance to your policy covers many reasons for canceling that normally are not covered, like last-minute work obligations or safety concerns.

Best Cancel for Any Reason Travel Insurance of 2024

All premiums mentioned are based on a $3,500, 10-day trip from Florida to Costa Rica for two same-aged travelers. We gathered quotes for four different ages: 28, 40, 55, and 70.

Best Cancel for Any Reason Travel Insurance of 2024
Best Cancel for Any Reason Travel Insurance of 2024

Best Overall : USI Affinity

USI Affinity
USI Affinity.
Why We Chose It

With seven cancel for any reason plans available and the cheapest CFAR plan premiums, USI Affinity is our top choice for travelers.

Pros & Cons
Pros

  • Lowest premiums for CFAR policies

  • Offers seven CFAR policy options

Cons

  • No pet medical coverage

  • Kids aren’t covered for free

Overview

USI Affinity offered the most CFAR policy options—seven—out of the 18 cancel for any reason travel insurance companies we reviewed.

Additionally, USI Affinity offered the lowest CFAR premium of any company we researched: $121. The company’s highest plan premium was $200, which is also among the lowest rates we found during our research.

CFAR plans from USI Affinity include 75% reimbursement, with a maximum trip cancellation reimbursement of $150,000 for covered events and up to $250,000 in medical coverage per person, per trip. 

Plan Pricing
  • Lowest CFAR premium: $121
  • Highest CFAR premium: $200

Best Reimbursement Rate : Allianz Travel Insurance

Allianz Travel Insurance

Allianz Travel Insurance
Why We Chose It

Cancel for any reason travel insurance from Allianz will provide up to 80% reimbursement for non-refundable travel costs. 

Pros & Cons
Pros

  • Maximum reimbursement of 80%

  • Kids under 17 are covered for free

  • $200,000 limit for covered cancellations

Cons

  • Low coverage limit for travel delays

  • No pet medical coverage

  • Limited coverage for medical expenses

  • No missed connections coverage

Overview

If you spend a lot of money on trips, a CFAR plan from Allianz can be a good choice.

Allianz offers up to 80% reimbursement for eligible travel expenses if you need to cancel for uncovered reasons, which was the highest rate of any of the insurers we analyzed. Additionally, Allianz’s  $200,000 trip cancellation coverage (for covered cancellations) was among the highest we found during research.

Although Allianz offers the most coverage for trip reimbursement, its CFAR plans have some limitations worth noting. For example, there’s no coverage for missed connections or pet medical expenses.

Allianz will only provide CFAR insurance if you insure the full cost of your trip within 14 days of making your first trip payment.

Plan Pricing
  • Lowest CFAR premium: $261
  • Highest CFAR premium: $315

Most Affordable Premiums for Upgraded Plans : Tin Leg

TinLeg logo

TinLeg
Why We Chose It

If you want a cancel for any reason travel insurance policy with the best features and the most coverage, Tin Leg is a great choice because it offers the lowest premiums for its upgraded plans.

Pros & Cons
Pros

  • Lowest premium for upgraded plans

  • Up to $500,000 in medical coverage

Cons

  • No pet medical coverage

  • Doesn’t offer multi-trip coverage

  • No annual plans

  • Kids aren’t covered for free

Overview

Out of the best CFAR companies on our list, Tin Leg has the lowest premiums for its upgraded CFAR plans. The highest plan premium from Tin Leg is just under $200. 

Another thing we like about Tin Leg is that it has the highest amount of coverage for medical expenses. The maximum amount of medical coverage is $500,000 per person, per trip. There were only six insurers we reviewed that offered that much coverage.

Despite the benefits of Tin Leg, this CFAR insurance provider also has some downsides. The plans don’t include pet medical coverage, and kids aren’t covered for free. 

Berkshire Hathaway offered a slightly lower premium than Tin Leg for its top-tier plan. However, the company’s overall score was below average and higher than just five of the other 17 companies. Therefore, we kept the insurer out of our rankings. 

Plan Pricing
  • Lowest CFAR premium: $145.55
  • Highest CFAR premium: $199.50

Best for Trip Interruption Reimbursement : HTH

HTH Worldwide
HTH Worldwide.
Why We Chose It

HTH’s cancel for any reason travel insurance plan reimburses up to 200% of your trip interruption costs, which is the highest reimbursement limit out of the “best” companies we reviewed.

Pros & Cons
Pros

  • Highest trip interruption reimbursement limit

  • Plan includes pet medical coverage

  • Provides up to $500,000 in medical coverage

Cons

  • Only one CFAR plan available

  • Only reimburses $50,000 for covered cancellations

  • No multi-trip coverage

  • No annual plans

Overview

HTH only offers one CFAR plan, but it provides excellent coverage, including 200% reimbursement for your trip interruption costs (covered interruptions include 14 scenarios, including sickness and natural disasters). Additionally, the plan includes $500,000 in medical coverage per person, per trip, as well as pet medical expenses coverage. HTH’s CFAR plan provides a maximum reimbursement of 75% for prepaid travel expenses, which is the typical rate.

Thirteen of the 18 companies we analyzed offered a 75% CFAR reimbursement rate.

HTH will only reimburse a maximum of $50,000 in trip cancellation costs for covered events, which is the lowest coverage limit out of the best companies on our list. In addition, it doesn’t offer annual plans, and the one CFAR travel insurance plan available doesn’t cover multiple trips. Additionally, the premium for HTH’s CFAR plan was  $301.82, which was around $31 more than the average for top-tier plans and nearly $80 more than the average for low-tier plans.

Plan Pricing
  • Lowest CFAR premium: $301.82
  • Highest CFAR premium: $301.82

Best for Travel Delay Coverage : Trawick International

Trawick International
Trawick International.
Why We Chose It

Trawick International’s cancel for any reason travel insurance plans provide $3,000 in travel delay coverage, which is the highest amount of delay coverage out of the companies on this list.

Pros & Cons
Pros

  • Highest amount of travel delay coverage

  • Five CFAR plan options

  • Affordable premiums

Cons

  • Plans don’t include pet medical coverage

  • No free coverage for kids

  • Free-look period is only 10 days

Overview

Trawick International offers the most travel delay coverage out of the 18 CFAR travel insurance companies we evaluated. Plans include a maximum of $3,000 in travel delay coverage in case you need to get a hotel or rent a car due to unexpected travel delays.

Trawick International has five CFAR plans, and the premiums are pretty affordable. The lowest plan premium is $143.14, which is one of the cheapest premiums out of the companies we reviewed. You can also get annual plans and plans with multi-trip coverage.

Keep in mind that Trawick’s free look period is only 10 days, which is shorter than the typical 15-day period other insurers offer.

Plan Pricing
  • Lowest CFAR premium: $143.14
  • Highest CFAR premium: $302.94

The Bottom Line 

Cancel for any reason travel insurance can be worth the added cost, especially if you travel often or take expensive trips. However, the best CFAR travel insurance company is different for everyone. For instance, if you want the cheapest plan, USI Affinity is a great choice. But if you’re looking for a plan with a high CFAR reimbursement rate, Allianz is the top choice. 

Frequently Asked Questions

  • What’s the Difference Between Trip Cancellation and Cancel for Any Reason?

    Trip cancellation is a standard part of travel insurance that covers the cost of non-refundable travel if you have to cancel a trip for a specific reason, including illness, injury, or death. Cancel for any reason insurance is something you add to a policy to cover cancellations that don’t qualify for trip cancellation. For example, if you have to cancel a trip at the last second because your fear of flying overwhelms you a couple of days before your flight,  CFAR allows you to cancel, no questions asked. Another key difference is that trip cancellation insurance typically offers a maximum dollar amount your policy pays out, whereas CFAR reimbursements you a percentage of your non-refundable trip costs.

  • What Is Cancel for Any Reason Coverage?

    Cancel for any reason coverage is a type of insurance coverage you can add to a travel insurance policy that will cover you for cancellation reasons that aren’t covered by your travel insurance. CFAR insurance reimburses you a percentage of your non-refundable travel costs, often 50% to 75%.

  • How Much Does Cancellation Insurance Cost?

    Cancel for any reason insurance can cost you anywhere from 10% to 40% of your travel insurance premium. For example, during our research, we found adding CFAR to a Travel Guard policy that cost $169.29 would add an extra $38.08.

  • Can You Buy Cancel for Any Reason Insurance After 21 Days?

    In most cases, travel insurance companies will require you to buy your CFAR insurance within 14 to 21 days of your first payment for the trip.

Methodology

Narrowing down the best cancel for any reason travel insurance companies means analyzing aspects of travel insurance that are most important to travelers. 

With that in mind, we examined 18 top travel insurance companies across the following 16 categories:

  • CFAR reimbursement rate (20% of score): Companies with higher reimbursement rates for CFAR coverage received the highest scores.
  • Premiums (17%); We analyzed the highest and lowest premiums offered by a company, weighting the two premiums equally. 
  • Policy types available (7.5%): Having a choice of plans to pick from can ensure you aren’t paying for coverage you don’t need. Companies with more options scored higher.
  • Free look period length (5%): A free-look period is an invaluable part of buying insurance. Companies with longer free-look periods received higher scores. 
  • Pre-existing condition coverage (5%): Companies that offered medical coverage for pre-existing conditions scored higher than those that didn’t. 
  • Maximum coverage for emergency transportation (5%): Evacuation out of a country for medical reasons can be costly, so we scored companies higher if they had higher emergency transportation limits. 
  • Maximum baggage coverage (5%): Companies that offer higher coverage limits for lost and damaged baggage score higher. 
  • Maximum medical coverage (5%): Medical coverage for injuries you sustain while traveling can offset potentially expensive hospital bills. 
  • Adventure sports coverage (5%): Provides coverage if you participate in adventure sports during your trip. 
  • Sports and activity coverage (5%): Because vacations typically include new activities or participation in sports, it can be helpful to have travel insurance that covers injuries you sustain during those activities. 
  • Maximum travel delay coverage (5%): Travel delay coverage can help you cover the cost of lodging and food if you’re stranded due to, for example, a canceled flight or train ride. 
  • Maximum trip cancellation coverage (5%): If you have to cancel a trip for covered reasons (CFAR insurance covers cancellations not otherwise covered by your insurance), a high coverage limit can help offset some or all of your non-refundable trip costs. 
  • AM Best rating (2.5%): A high AM Best rating means a company is very likely to pay out a claim in the near future, so companies with higher ratings scored higher. 
  • Maximum trip interruption reimbursement rate (2.5%): Companies that offered higher reimbursement amounts in the event of a trip interruption earned higher scores in this category. 
  • Multi-trip coverage (2.5%): Avid travelers can benefit from multi-trip coverage, and may be able to save money by booking one insurance package as opposed to a separate policy for each trip. 
  • No extra charge for a child: (2.5%): Companies that offered to include at least one child in their CFAR insurance policies received higher scores than those that didn’t. 
Woman using smartphone to book flight tickets and plan holiday

Oscar Wong / Getty Images
Article Sources
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  1. Allianz. “How the Cancel Anytime Upgrade Works.”

  2. HTH Worldwide Travel Insurance. “TripProtector Classic Benefits.”

  3. SquareMouth. “Your Guide to Cancel For Any Reason Travel Insurance.”