At first glance, when we buy our plane tickets, we’ve all asked ourselves at least once: Should I take out travel cancellation insurance or not?
What you need to know about flight cancellation insurance
When you book a trip abroad, there’s always the chance that a major unforeseen event will upset your plans and force you to change or cancel your trip. We therefore recommend that you always take out travel cancellation (or change) insurance before leaving for a trip abroad. If you’re thinking about buying a low-cost flight, just take a budget approach and see what’s best for you.
Insurance offered at time of purchase
When you buy an airline ticket on the Internet or in an agency, the company will offer you cancellation insurance for just a few extra euros. Tempting, you might say!
Please note that repayment conditions are very strict, so read the clauses carefully to avoid any surprises when the time comes.
Credit card cancellation insurance
First of all, in order to benefit fromyour bank card’s travel cancellation insurance, you need to be in possession of a Visa Premier or Gold Mastercard. Basic cards do not include cancellation insurance.
You will then be covered for :
- A health problem that prevents you from traveling
- The death of a family member
- Serious damage to your home
- Economic redundancy
The maximum reimbursement is limited to 5,000 euros per year and per card. It’s up to you to decide whether the amount is sufficient, based on the number of trips you make during the year.
Take out travel cancellation insurance with an insurer
All travel insurance companies offer cancellation insurance.
The reimbursement ceiling is generally higher. What’s more, valid reasons are broader.
In general, the insurer does not reimburse airport taxes included in your ticket. If you don’t go, the airline has to reimburse you.
Mondassur’s coverage includes :
1. Reasons for reimbursement
- Illness, accident or death of the insured or a member of his/her family (including relapse or worsening of a previous condition noted prior to booking)
- Serious damage to the insured’s home, business premises or vehicle
- Organ transplant convocation
- Invitation to a university make-up exam
- Redundancy, finding a job, professional transfer
- Transport accident or breakdown
- Refusal of tourist visa
- Modification of leave by employer (25% deductible)
- Theft of identity papers (25% deductible)
- Contraindication or continuation of vaccination
- Birth of a child or grandchild
- Court summons
After reading this list, you may be thinking, “Oh yes, it’s true that these reasons for cancellation can happen”. You’re right!
2. Refund amount
If you have booked your trip through an agency, you will not be fully reimbursed. Cancellation fees apply.
Fees vary according to :
- The agency
- The number of days before departure.
The earlier the date, the less you will be reimbursed. This is where your travel cancellation insurance comes in. It is designed to reimburse you for the amount not covered by the agency.
While taking out travel insurance is a no-brainer, there are three cases in which taking out cancellation insurance is highly recommended:
- You’ve bought an expensive holiday or flight, especially for a family trip. Here, we’re talking about a large sum. And since several people are involved, you multiply the risks. If you don’t have a high-end bank card, it may be worth your while.
- You have booked a flight or a trip at a high rate with a basic bank card.
- There’s a chance you won’t be able to make this trip (illness or pregnancy of a close relative, bad situation at your company…).
So it’s a good idea to take out cancellation insurance, or travel insurance that includes cancellation insurance.
