Travel insurance plans provide the most important coverage you could need on your trip called trip cancellation coverage. Trip cancellation insurance is used to protect the prepaid, non-refundable trip payments. Trip cancellation coverage becomes effective from the next day of the purchase and is in effect until you depart on your trip. Even with the protections offered, some travelers wonder whether travel insurance can be cancelled and if they would get a refund.
Can you cancel travel insurance and get a refund? A travel insurance refund depends on the type of plan and its cancellation terms. Trip cancellation policies may qualify for a full refund during the free look period if no claim has been filed and the traveler has not departed. Other plans may provide a full, prorated, or no refund based on policy terms.
Free Look Period
Is trip insurance refundable? Travel insurance plans may allow cancellation and a refund under their individual terms. Trip cancellation policies specifically involve a free look period, often called a “money back guarantee” by some companies. The free look period lasts 10 to 15 days, depending on the plan. It may begin on the purchase date or when you receive your policy documents; it varies by travel insurance company policies. Since most travel insurance plans are delivered electronically, receipt of your emailed policy documents may mark the start of the period.
During the free look period, travelers have time to review the policy wording, benefits, and exclusions. A trip cancellation policy may qualify for a full refund when the request is submitted within the allowed period, no claim has been filed, and the traveler has not departed.
Update Policy Details Without Cancelling
Minor purchase errors may not require cancellation and repurchase. Service Requests are available through MyAccount to correct travel dates, insured names, birth dates, trip cost, or other policy details. Customers may also contact Insubuy for assistance with changes or corrections, subject to terms and conditions.
Corrections must be submitted before the original departure date, before leaving for the trip, and before filing a claim. A Service Request cannot be used to cancel a policy.
How to Cancel Travel Insurance After Purchase: Step-by-Step
You may request cancellation through MyAccount or by email. Cancellation eligibility and any refund depend on the terms of the purchased plan.
Through MyAccount
Sign in to MyAccount.
- On the View My Policies page, locate the plan you want to cancel.
- Select Cancel Policy in the upper-right corner of the policy card.
- Complete the Cancellation Request page with the required Cancellation Details. If you have filed an insurance claim, you cannot submit a cancellation request.
- Review the information and select Submit Cancellation Request.
By Email
To cancel via email, send a written cancellation request in English to [email protected]. Include the following:
- Certificate number, also called ID number
- Name of each insured
- Brief reason for cancellation
- Cancellation effective date
You will receive an email confirming receipt of your cancellation request, and another after the request has been processed. Any approved refund will be returned through the original payment method.
Travel Insurance Refund Policy: When Will You Get Your Money Back?
Refund eligibility depends on the purchased plan, the requested cancellation date, and the policy status when the request is submitted. Cancellation requests generally take 7 to 10 business days to process. Any approved refund is returned through the original payment method.
Coverage that has already started may be refunded on a prorated basis under some plans, while other plans become nonrefundable after a stated deadline.
A refund may be denied when the request does not meet the plan’s cancellation terms, a claim has been filed, or the traveler has already departed.
Cancellation fees and effective-date rules also vary by administrator. For example, WorldTrips and Azimuth may charge a separate cancellation fee for each person who cancels individually. When everyone on the same group or family policy cancels together, only one fee may apply. Trawick requires the cancellation to take effect on the day the request is submitted, while other administrators may allow a later effective date. Any applicable cancellation fee is charged by the insurance company. Insubuy does not charge an additional cancellation or processing fee.
Refund of Insurance Cost After Trip is Cancelled
Travel insurance, specifically the trip cancellation coverage within that, is meant to cover the prepaid, non-refundable costs for the travel arrangement such as airfare, cruise cost, tours, excursions, hotel reservations, and so on. The cost of the travel insurance itself should not be included because the cost of the travel insurance is not insurable under the trip cancellation benefit of travel insurance.
Therefore, if you need to cancel your trip for a covered reason, you would receive a refund for your prepaid and non-refundable costs, but not what you paid for the travel insurance.
Travel Insurance Cancellation FAQ
Can you cancel travel insurance and get a refund?
Yes, you can cancel travel insurance and receive a full refund, but only during what's called the "free look period" or "money back guarantee period." This window typically lasts 10-15 days from the date of purchase. During this time, you can cancel your policy for any reason and receive a 100% refund of your premium, provided you haven't departed on your trip or filed a claim.
What is the free look period?
The free look period is a consumer protection that gives you time to review your policy documents and decide if the coverage meets your needs. This period starts immediately when you purchase your policy and typically ranges from 10-14 days, though some providers offer up to 15 days. The purpose is to allow you to thoroughly examine the policy wording, benefits, and exclusions before committing to the coverage.
What happens if I want to cancel after the free look period expires?
Once the free look period ends, you can still cancel your travel insurance policy at any time, but you will not be eligible for a refund. At this point, the premium you paid is non-refundable, even if you haven't departed on your trip or used any benefits.
Are there any fees for cancellations during the free look period?
Most travel insurance providers offer a full refund during the free look period, though some may charge a small administrative fee of $5-10 for processing the cancellation. Any applicable fees should be clearly stated in your policy documents.
Can I get a refund if my trip gets canceled?
If you need to cancel your trip for a covered reason (such as illness, family emergency, or natural disaster), your trip cancellation coverage can reimburse you for your prepaid, non-refundable travel expenses like airfare, hotels, and tours. However, the cost of the travel insurance itself is not refundable as part of a trip cancellation claim, since the insurance premium is not considered an insurable expense under trip cancellation benefits.
What if I increase or decrease my trip cost?
You can typically adjust your trip cost up or down at any time before your departure date without canceling your entire policy. However, if you're increasing coverage and want certain benefits like "Cancel for Any Reason" coverage, you may need to purchase those within specific timeframes from your initial trip booking.
When does the free look period start?
The free look period begins the day you purchase your travel insurance and receive your policy documents. Since most policies are delivered electronically via email, receiving your policy documents by email typically marks the start of your free look period.
Can I cancel if I've already departed on my trip?
No, you cannot use the free look period once you've departed for your trip, even if you're still within the review timeframe. Additionally, if you've filed any claims during the free look period, you're no longer eligible for a refund.
How do I cancel my travel insurance?
To cancel your travel insurance during the free look period, simply access your policy via your MyAccount portal or using the MyAccount app.
Should I consider alternatives to cancellation?
Before canceling your policy, consider whether you can simply modify your existing coverage instead. Many providers allow you to adjust travel dates, trip costs, or add coverage options before your departure date, which may be more beneficial than starting over with a new policy.
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