Most major credit card companies, including MasterCard, Visa, and American Express, offer trip cancellation insurance. Trip insurance coverage means that if your trip is cancelled or interrupted for specific reasons, the card company will refund a certain amount of the trip.
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How to Obtain Trip Cancellation Insurance
If your credit card offers trip cancellation insurance, you typically have to purchase your travel tickets using the card. Check your card member agreement for specific details.
Trip cancellation insurance covers some of the cost of your trip if you have to cancel it before you leave or if the trip is interrupted while you are travelling. Some interruption coverage may even reimburse you for the cost of travelling to your starting point.
The cost of the insurance is sometimes automatically charged to your credit card if your card offers this benefit. With some banks, the insurance coverage is automatic at no charge when you purchase your tickets.
Interruption Versus Cancellation
Coverage may differ based on whether your trip is cancelled or interrupted. In simple terms, cancellation occurs if the trip doesn't happen. Interruption means something happens to end your trip after you've already begun.
Several common causes for trip cancellation or interruption that your insurance may cover include illness or injury to you or someone you are travelling with; natural disasters; terrorism; bankruptcy of the tour operator, resort or hotel; a labour dispute that disrupts travel; or even termination of your job.
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