You may have planned your trip to the minutest detail, made all the travel and hotel bookings and are all set to go. But a last minute emergency or an unforeseen event may cause you to cancel your trip. This would result in a substantial financial loss because of non refundable expenses already made. Trip Cancellation Coverage reimburses you for pre-paid, non-refundable expenses if you need to cancel your trip before you depart for reasons specified in the policy terms and conditions and up to the limits specified in the policy document.
Trip cancellation benefit provides compensation if a trip is canceled or interrupted due to any of the reasons given below. (This is a general list and varies from company to company. Please check policy wording for specific details.)
1. Unforeseen disease, illness, injury, or death of the Insured / Insured Person's family member. Disease, injury or illness must be so disabling as to reasonably cause a trip to be canceled or interrupted;
2. Termination of employment or layoff affecting the Insured /Insured Person or the Traveling Companion of the Insured, provided that the Insured / Insured Person or the Traveling Companion, as the case may be, have been employed with the employer for at least three continuous years;
3. Inclement weather conditions causing cancellation of the trip;
4. The place intended to be occupied by the Insured / Insured Person for purposes of Insured/Insured Person's stay during the trip or the destination being made uninhabitable by fire, flood, vandalism, burglary, or natural disaster;
5. The Insured/Insured Person being abducted or quarantined;
6. The Insured / Insured Person or a Traveling Companion being the victim of a felonious assault within 10 days prior to the departure date, provided that the Insured / Insured Person (including any member of their family) or the Traveling Companion (including any member of travelling companion's family) is/are not principal or accessory in such felonious assault.
7. A terrorist incident in a City/destination listed on the Insured/Insured Person's itinerary within 30 days of the Insured/Insured Person's scheduled arrival.