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WARWICK, R.I., May 10, 2021 /PRNewswire/ InsureMyTrip reports a significant spike in travelers seeking travel insurance with Cancel For Any Reason (CFAR) coverage over the past several weeks. The percentage of travelers purchasing policies with a Cancel For Any Reason upgrade has doubled since January 2021, according to the latest data.
Source: InsureMyTrip Research Fully vaccinated Americans are starting to book trips again, but appear to be more inclined to seek maximum trip cancellation flexibility, says InsureMyTrip Product Manager Meghan Walch. While Cancel For Any Reason coverage does tend to cost more than a traditional travel insurance policy, more travelers are now opting to make that investment.