You certainly can’t cancel travel insurance that you have already paid for, but your insurance will surely come in handy when an event that you’re travelling for gets cancelled. So many of us have looked back on previous trips and are thankful for the travel insurance taken out to cover ourselves and family members.
Event cancellation insurance is usually an extension that is optional in travel insurance policies. You have the choice to avail of this extension in cases where you will be traveling because of a special event.
While most travel insurance packages include some coverage for trip cancellations, cancellation for an event is special coverage that may vary from plan to plan.
If you’re worried that a sudden change of plans will spoil your trip, getting event cancellation insurance is helpful. It protects your event-related expenses against cancellation because of circumstances that are beyond your control. Let’s take a look at the details below.
It is important to remember that events cancellation insurance is only applicable if the sole purpose of your trip is attendance at a special event.
People who add this extension to their travel insurance are travelers who will attend events such a weddings, annual meetings, sporting events, religious festivals, conventions, concerts, tradeshows, award ceremonies, or more.
You will get coverage for the following:
-Cancellation after arrival at the destination for travel costs and accommodation.
-Cancellation prior to departure for unused event tickets.
You will be covered up to the amount specified in the policy for irrevocable unused accommodation, transportation expense, and event tickets, and pre-paid charges, if there are any.
In case the event is cancelled after you have started your journey, you will be covered for up to 50% of the travel costs.
You will be covered for expenses incurred if the event that you’re attending is curtailed or cancelled for reasons that are beyond your control. For example the reason behind the cancellation shouldn’t be the result of the policyholder’s actions.
This may include interruption or postponement for reasons beyond anyone’s control. In most cases, before making an actual claim, the policyholder should present written confirmation from the organizers or officials of the said event as proof.
Events cancellation insurance is an extra option given to people who purchase travel insurance. You will not get coverage for the following:
-If the event that you’re attending is rescheduled before your pre-booked return date.
-If less than 50% of the proportion of the special event has been cancelled.
-If you cancel because you feel that attending the event will be unsafe.
-If you cancel because you decided at the last minute that you couldn’t afford the expense.
-If the trip is canceled due to unlawful acts committed by the insured or any of his or her traveling companions, whether they are insured or not.
-The trip is canceled due to childbirth or elective abortion, excluding medical complications of pregnancy that threaten the lives of both mother and child.
There may be costs that you will recover from the tour operator, travel agent, or company organizing the event. If you receive these compensations or reimbursements, the insurance will not cover them.
So just as travel insurance is a vital part of trip planning and taking holidays, event cancellation insurance is an added on extra that can protect you even further for unforeseen circumstances arising when planning major and special events.