Cancel for Any Reason & Refundable Deposit

[greatestvalue]

I purchased cancel for any reason for a 43 day Europe cruise & land based trip in 2022.  I had already booked the cruise and at that time opted for a refundable deposit at a cost. 

 

Do you usually do both or when you have CFAR you consider that enough even tho you may only get 75% back?

 

@iamtrustworthy- Steve if you happen to be hanging out on CC, and if you wouldnt mind chiming in so we all know if we should consider doulbing down or if its, paying for almost the same benefit (with a potential difference, dependent on where you buy the insurance, of 25%) twice? 

 

Thank you 

[GeezerCouple]

1 hour ago, greatestvalue said:

I purchased cancel for any reason for a 43 day Europe cruise & land based trip in 2022.  I had already booked the cruise and at that time opted for a refundable deposit at a cost. 

 

Do you usually do both or when you have CFAR you consider that enough even tho you may only get 75% back?

 

@iamtrustworthy- Steve if you happen to be hanging out on CC, and if you wouldnt mind chiming in so we all know if we should consider doulbing down or if its, paying for almost the same benefit (with a potential difference, dependent on where you buy the insurance, of 25%) twice? 

 

Thank you 

 

I'm not Steve (!), but at least when we get CFAR (through Steve's company, with Travel Insured), the CFAR is *part* of the regular coverage, for a surcharge.  It's not a stand-alone "separate policy".

 

So EITHER one gets 100% back (if appropriate, etc.) for a covered reason OR one gets 75% if one instead needs to invoke the "any reason" (which in our minds is really "no reason at all is needed"), from the same "policy with CFAR coverage added for an extra charge".

These are third party policies, so they are indeed cash back, not some sort of credit with a deadline, etc.

 

And a "refundable deposit" sounds like something else.

 

And there are some deadlines for coverages such as pre-existing conditions and CFAR, so make sure you can still get any other coverage you might want.

Steve can answer the specifics, obviously.

 

You'd probably need to provide specifics about that coverage you purchased so "what it covers" could be determined.

 

I hope you get to take that trip.  A 43 day cruise/land trip sounds wonderful! 🙂 

 

GC

[Babr]

It seems the refundable deposit matters only if you cancel before final payment. The extra cost for refundable bought you the option to cancel without penalty until then.

 

After final payment, the deposit is no longer considered refundable, so you’d get 75% of any non-refundable costs depending where you are in the penalty phase when you cancel.

[greatestvalue]

5 hours ago, Babr said:

The extra cost for refundable bought you the option to cancel without penalty until then.

 

After final payment, the deposit is no longer considered refundable, so you’d get 75% of any non-refundable costs

This is the distinction that makes it worth it for me to buy both. 

Paying extra for a refundable deposit takes care of from time of booking to final payment. 

 

The CFAR takes care of after final payment. 

 

Sometimes you just need someone else to look at it before you can see it yourself...lol

 

Thank you!! @Barb and @GeezerCouple

[iamtrustworthy]

On 9/18/2021 at 2:23 PM, greatestvalue said:

I purchased cancel for any reason for a 43 day Europe cruise & land based trip in 2022.  I had already booked the cruise and at that time opted for a refundable deposit at a cost. 

 

Do you usually do both or when you have CFAR you consider that enough even tho you may only get 75% back?

 

@iamtrustworthy- Steve if you happen to be hanging out on CC, and if you wouldnt mind chiming in so we all know if we should consider doulbing down or if its, paying for almost the same benefit (with a potential difference, dependent on where you buy the insurance, of 25%) twice? 

 

Thank you 

Hi greatestvalue,

 

I can't speak for all companies that offer the CFAR, but my plans that offer the CFAR allow you to just insure the deposit within the deadline your trip is farther in the future and you are paying it in stages.

 

With these plans, you would not have to pay for the insurance in full immediately upon purchase in order to get the pre-existing conditions and Cancel For Any Reasons coverage. All our plans allow "pay as you go" which means you must insure your deposit now and as you prepay more trip costs, you must increase the insurance coverage any time (as long as nothing has happened where you would file a claim) before but not later than 14 days of adding any additional trip costs above what has been insured to keep the pre-existing conditions and CFAR coverage. This does not result in any extra costs, just the incremental price increases. You do have to insure the deposits even if they are refundable. The prices are locked in at your ages and the rates that were in effect when you bought it.
 

I hope this made sense.

 

Steve Dassseos