"Cancel for Any Reason" (CFAR) travel insurance provides the utmost flexibility, allowing you to cancel your trip for any reason that's not covered by standard travel insurance. Let's dive into what sets the best CFAR travel insurance apart from other policies.
While CFAR insurance can simplify your claims process for trip cancellations, it comes with its downsides. For one, CFAR insurance is more expensive than regular travel insurance. Additionally, you will only receive a percentage of your nonrefundable trip costs if you cancel a trip. As a result, when choosing the companies in this guide, we looked at the best recovery policies and the lowest additional costs for CFAR insurance.
These are our picks for the best CFAR travel insurance companies in 2025.
Best Cancel for Any Reason Travel Insurance
- Best overall: Seven Corners Travel Insurance
- Best for reimbursements: Allianz Travel Insurance
- Best value: Travel Guard
- Best for adventurers: Travelex Travel Insurance
- Best for multiple trips: Travel Insured International
- Best for cruises and tours: AXA Assistance USA
- Best for quick protection: TravelSafe Insurance
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Best Overall
- Diverse coverage options such as CFAR, optional sports equipment coverage, etc.
- Available in all 50 states
- Prices are higher than many competitors
- Reviews around claims processing are mixed
- Trip cancellation insurance of up to 100% of the trip cost
- Trip interruption insurance of up to 150% of the trip cost
- Cancel for any reason (CFAR) insurance available
Seven Corners Travel Insurance is a well-known carrier that has served thousands of travelers. The Trip Protection Choice plan offers a cancel for any reason travel insurance add-on that covers up to 75% of total trip costs, with a maximum of up to $75,000 in reimbursement. Travel medical coverage is also generous, with up to $500,000 per person for eligible medical expenses and evacuation/repatriation limits of up to $1 million per person.
Seven Corners also offers generous benefits on lost baggage and delayed travel or baggage expenses. Baggage delay benefits kick in after six hours and go up to $500 per person.
The Choice plan does not insure travel canceled by tour operators that are or have gone out of business, so this policy may not be the best fit for travelers who plan to visit unstable destinations.
Best for Reimbursement
A+
- Good option for frequent travelers thanks to its annual multi-trip policies
- Doesn't increase premium for trips longer than 30 days, meaning it could be one of the more affordable options for a long trip
- Some plans include free coverage for children 17 and under
- Concierge included with some plans
- Coverage for medical emergency is lower than some competitors' policies
- Plans don't include coverage contact sports and high-altitude activities
- Single and multi-trip plans available
- Trip cancellation and interruption coverage starting at up to $10,000 (higher limits with more expensive plans)
- Preexisting medical condition coverage available with some plans
Allianz Travel Insurance is one of the leading brands in travel insurance, with 10 different travel insurance plans across single-trip, multi-trip, and rental car plans.
Its CFAR plan for OneTrip Prime and Premier policyholders offers 80% reimbursements on canceled trips, which is the highest percent reimbursement across the plans we reviewed. Most companies offer 75% or lower for CFAR reimbursements.
Best Value
A
$171–$319
$250
50%
- Trip cancellation coverage of up to 100% of the cost, for all three plan levels
- CFAR covers up to 75% of total trip costs (maximum of $112,500 on some plans)
- Medical coverage of up to $500,000 and evacuation of up to $1,000,000 per person
- Includes COVID coverage
- Above average baggage loss and delay benefits
- High medical evacuation coverage
- Premiums may run slightly higher than competitors
Travel Guard is a well-established and highly rated name in the travel insurance industry. It offers three main coverage options to choose from, and in general its policies have above-average coverage for baggage loss and baggage delays, plus high medical evaluation coverage limits.
Travel Guard- Trip cancellation coverage for up to 100% of the trip cost
- Trip interruption coverage for up to 150% of the trip cost
- Preexisting medical conditions exclusions waiver must be purchased within 15 days of initial trip payment
- Annual travel insurance plan and Pack N' Go plan (for last-minute trips) available
Travel Guard is one of the best-known names in the travel insurance industry, with several plans available for traveler needs in every direction. AIG also provided the lowest quote for our hypothetical Europe travelers despite offering the highest ceiling on CFAR reimbursement.
Both AIG's Preferred and Deluxe insurance plans offer CFAR coverage as an add-on to the policy, and some policies cover up to 75% of total trip costs going all the way up to a maximum reimbursement of $112,500.
Many AIG policies also include COVID coverage even without CFAR protection, as well as some ancillary benefits such as rental car protection and even pet travel insurance.
Best for Adventurers
- Options to cover sports equipment
- Option to increase medical coverage
- Can cancel up to 48 hours before travel when CFAR option is purchased
- Affordable coverage for budget-conscious travelers
- Includes generous baggage delay, baggage loss, and trip delay coverage
- Optional "adventure activities" bundle available for riskier activities
- Pricier than some competitors with lower coverage ceilings
- Some competitors offer higher medical emergency coverage
Travelex travel insurance is one of the largest travel insurance providers in the U.S. providing domestic and international coverage options. It offers Essential, Advantage, Ultimate, and Travel Med Go options. Read on to learn more.
Travelex Travel Insurance- Optional CFAR insurance available with the Ultimate plan
- Travel delay insurance starting at $500 with the Advantage plan
- Emergency medical and dental coverage starting at $15,000
Travelex Travel Insurance is a great cancel for any reason option for travelers who plan to participate in strenuous or adventurous activities during their trip. While the CFAR coverage add-on only reimburses up to 75% of nonrefundable trip expenses up to $7,500, it still provides peace of mind in case of uncovered emergencies or situations.
Travelex offers low medical coverage compared with its competitors, with a maximum of up to $50,000 per person. Travelers participating in adventure sports can purchase an optional add-on bundle for additional coverage. In case of emergency, Travelex policy holders might do well to consider the travel insurance benefits on their credit cards to supplement any potential medical expenses.
Best for Multiple Trips
A
- Offers 2 major plans including CFAR coverage on the more expensive option
- Cancellation for job loss included as a covered reason for trip cancellation/interruption (does not require CFAR coverage to qualify)
- Frequent traveler reward included in both policies
- Up to $1 million in medical evacuation coverage available
- Medical coverage is only $100,000
- Reviews on claims processing indicate ongoing issues
- C&F's Travel Insured policies allow travelers customize travel insurance to fit their specific needs. Frequent travelers may benefit from purchasing an annual travel insurance plan, then adding on CFAR coverage for any portions of travel that may incur greater risk.
Travel Insured International is the only company we reviewed that offers add-on CFAR coverage for trips taken under an annual multi-trip travel insurance policy. This benefit, which reimburses you for 75% of your nonrefundable fees, is a one-off addition you need to add to each trip you take. This policy also covers preexisting conditions, which isn't common among annual policies.
Travel Insured International also offers CFAR protection on its Deluxe and Platinum single-trip Worldwide Trip Protector policies, as long as you purchase your policy within 21 days of your initial trip deposit. It's not available for its essential policy.
Best for Cruises and Tours
$218
N/A
Up to $1 Million
- Generous medical evacuation coverage
- Up to $1,500 per person coverage for missed connections on cruises and tours
- Covers loss of ski, sports and golf equipment
- Generous baggage delay, loss and trip delay coverage ceilings per person
- Cancel for any reason (CFAR) coverage only available for most expensive Platinum plan
- CFAR coverage ceiling only reaches $50,000 maximum despite going up to 75%
AXA Assistance USA keeps travel insurance simple with gold, silver, and platinum plans. Emergency medical and CFAR are a couple of the options you can expect. Read on to learn more about AXA.
AXA- Silver, Gold, and Platinum plans available
- Trip cancellation coverage of up to 100% of the trip cost
- Trip interruption coverage of up to 150% of the trip cost
- Emergency medical coverage of up to $250,000
AXA Assistance USA is a great option for our hypothetical Europe cruise travelers, with its coverage of up to $1,500 per person for missed cruises and tours. This insurer also covers lost and delayed ski, sports and golf equipment – items that aren't always included in lost or delayed baggage coverage under other carriers. The rest of your belongings are safe too with AXA, as lost baggage claim ceilings are up to $3,000 per person - more than double some of its other competitors.
AXA may not be the best fit for travelers who need high-ticket travel protection, as the upper limit for CFAR reimbursement only goes up to a maximum of $50,000 despite covering up to 75% of total nonrefundable expenses, which is lower than the ceilings from other competitors such as AIG and Seven Corners. Furthermore, CFAR insurance coverage can only be added on to AXA's top-tier Platinum plan.
Best for Quick Protection
A
- Up to 120 days' coverage available for travelers ages 79 and under (30 days for 80+)
- Up to $2,500 per person for missed connections over three hours or more
- Trip delay coverage of up to $150 per person per day kicks in after six hours or more
- Policy can be purchased by U.S. citizens living abroad
- Medical coverage ceiling of $100,000 may be low for some travelers' needs.
- Claims reviews from customers say performance is not always the best
- A well-rounded insurance plan for travelers who are concerned about missing connections for cruise-related travel
- Classic and Basic travel insurance plans
- GolfSafe travel insurance plans provide coverage for you and your equipment
- Travel medical insurance through partner Trawick International
TravelSafe Insurance is a great option to consider if you have a lot of stops or transits on your trip, or if you are an expat living abroad. This insurer offers flexible coverage terms for longer travel durations. If you are 79 years old or younger, you can purchase a single-trip travel insurance plan that can cover your adventures for up to 150 days. Furthermore, reimbursement for baggage delays and losses, trip delays and missed connections kick in far more quickly than most competitors, with up to $2,500 per person for eligible missed travel connections available at the three-hour mark.
While TravelSafe's medical coverage of up to $100,000 may be on the lower side for travelers who anticipate potential medical expenses, those with the right credit cards may be able to supplement their emergency costs through a claim with their card issuer.
Compare CFAR Travel Insurance Companies
Understanding 'Cancel for Any Reason' Coverage
Key Features of CFAR Coverage
CFAR policies are unique; they allow cancellation for reasons beyond the usual covered reasons of travel insurance policies. This includes fear of traveling due to a pandemic or a sudden change of mind. However, it's essential to understand the specifics, such as the percentage of the trip cost reimbursed and the time frame for cancellation.
How CFAR Differs from Standard Policies
Unlike traditional travel insurance policies that cover specific cancellation reasons like illness or weather-related issues, CFAR offers a broader spectrum of coverage. It's the premium choice for travelers seeking full control over their plans.
That said, you must also buy travel insurance early if you want to qualify for a CFAR policy, usually within a certain period from when you place a deposit on your trip. That's why it's important to be mindful of when you buy travel insurance.
How to Pick The Best CFAR Travel Insurance Policy for You
There is no one-size-fits-all "best" insurance plan, especially for CFAR coverage, which can add to your insurance premium. Even for the same person, the right policy will vary from trip to trip, depending on your activities.
If you're primarily concerned about getting your money back if your schedule changes, you may be able to get away with a basic plan that allows you to add CFAR coverage. If you're undertaking a grueling hike through some challenging mountain ranges, you may want to select a policy that includes generous medical and evacuation protection, plus flexibility to reschedule or re-book your trip in case of injury. And if you plan to visit a number of destinations within a short amount of time, trip delay or baggage loss protection may need to be one of your top priorities. If you only need basic coverage, consider our guide for the best travel insurance policies.
Steps to Choosing CFAR Coverage
- Evaluating Your Travel Needs Consider the nature of your trip, destinations, and what uncertainties you might face. This will help determine the level of travel insurance coverage you need.
- Comparing Prices and Benefits Analyze different policies in terms of cost, coverage percentage, and additional benefits. Look for the best value for your specific needs.
- Reading the Fine Print Understanding the terms and conditions, including the cancellation window and reimbursement process, is crucial to avoid any surprises.
- Making the Most of Your Policy Once you've chosen a policy, it's important to know how to use it effectively.
- Understanding Your Policy Familiarize yourself with the details of your policy, including how and when to file a claim.
- Tips for Filing a Claim Be timely and thorough when filing a claim. Keep all relevant documents handy and follow the provider's process closely to ensure a smooth experience.
Making the Most of Your CFAR Travel Insurance Policy
Understanding Your Policy
To get the most out of your travel insurance policy, the best thing you can do is understand your policy. You'll want to make a note of any exclusions and inclusions on your policy, just in case anything goes wrong during your trip. Additionally, travelers with pre-existing conditions should understand how that affects their policy's coverage.
While learning about your policy, you may even learn about a feature that your insurance policy has, such as the ability to pay doctors directly.
Many travel insurance companies have hotlines you can call with any issues that arise during your travels or if you simply have a question about your policy.
Tips for Filing a Claim
Unfortunately, travel insurance companies won't just take your word when you file a claim. You'll need to gather all relevant documents if you're planning on filing a claim. For example, if you need to see a doctor during your trip, be sure to request an invoice.
Additionally, be wary of any time limits on when you can file a claim. Similarly, some travel insurance companies also offer interest on your payout if a claim isn't processed within a certain period of time.
Why You Should Trust Us: How We Reviewed the Best CFAR Travel Insurance
Business Insider reviewed numerous insurance products looking for the best options. Especially when it come to travel insurance, each traveler has a distinct experience and plan. So we looked for companies offering the optimal coverage packages for certain groups.
To accurately compare the cost of CFAR coverage from the insurance carriers we recommend, we collected quotes for a hypothetical two-week trip to three countries in Europe for two travelers ages 38 and 45 that includes a river cruise, renting a vacation home, and taking several flights. The total cost of travel comes out to $14,000 between two people.
The main factors we evaluated when picking our top CFAR travel insurance options were: policy cost, level of protection, claims experience, and policy types.
All our reviews are independently done, meaning travel insurance companies don't get to review or approve our reviews. Similarly, our top guide spots are not for sale. All placements are earned through strong coverage, efficient claims handling, and strong customer service.
Read more about Business Insider's travel insurance rating methodology.
FAQs
What is the difference between trip cancellation coverage and CFAR?
The difference between trip cancellation and CFAR is that CFAR coverage does not require a reason, but trip cancellation insurance only kicks in when you cancel for a covered reason, like an illness.
How do I purchase CFAR insurance?
You can purchase CFAR insurance by purchasing it as an add-on to a single trip travel insurance policy.
Can I purchase CFAR insurance for annual plans?
Generally, you cannot purchase CFAR insurance for annual plans. Only C&F allows you to add CFAR insurance to a multi-trip travel insurance plan, but you'll have to add CFAR on a per-trip basis.
How much does CFAR insurance cost?
How much CFAR insurance costs depends on your trip, but usually increase your base travel insurance premium by 40% to 50%. If your premium for a travel insurance policy is $150, adding a CFAR rider would increase your cost by $75.
What is the best CFAR travel insurance?
The best CFAR travel insurance overall is Seven Corners travel insurance with 75% CFAR reimbursement, up to $75,000.
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