Cover-More launches new Cancellation Plus Cover

Cover-More launches new Cancellation Plus Cover | Insurance Business Australia

Insurance News

Cover-More launches new Cancellation Plus Cover

What are the terms under this new offering?

Insurance News

By
Jonalyn Cueto

Cover-More Travel Insurance has unveiled its innovative Cancellation Plus Cover, offering Australian travellers a new level of protection when unforeseen life events disrupt their travel plans. This first-to-market option provides coverage for situations traditionally not covered under standard travel insurance policies.

The Cancellation Plus Cover is an optional add-on that addresses a range of personal circumstances that may lead to the cancellation of domestic or international travel. These circumstances include sickness of a close friend, anxiety about travel, relationship break-ups, work commitments, unexpected household expenses, or even changes in pregnancy plans.

The new coverage aims to provide greater flexibility for travellers who need to cancel their plans for reasons not covered by standard policies.

Cover-More’s Australia CEO, Todd Nelson, highlighted the significance of this new offering, stating, “While the standard cancellation cover offers broad protection for travellers, Cancellation Plus Cover offers more cover for those times when life or other complications get in the way of travel plans. It’s an evolution of the Cancel for Any Reason (CFAR) product prior to COVID-19.”

Nelson emphasised the importance of offering more care and coverage to Australian travellers. “This is about more care, more cover for all Aussie travellers,” he said. “We’re very proud to bring Cancellation Plus Cover to the market.”

How Cancellation Plus Cover works

Cancellation Plus Cover can be added to Cover-More’s international and domestic plans. The add-on applies to travel costs paid after the policy is issued, including any expenses incurred within 48 hours before the policy purchase.

The cover is available when purchasing a policy more than seven days before the trip’s start date, and travellers must cancel their journey at least 48 hours before departure for the coverage to apply.

If a claim is accepted, customers can receive up to 75% of the non-refundable, unused portion of prepaid travel costs, capped at $10,000 per policy. The coverage applies to a range of prepaid expenses, including flights, accommodation, cruises, tours, and transport that are non-refundable and unrecoverable by other means. Cancellation Plus Cover can also be added to specific annual multi-trip policies.

Despite the comprehensiveness of the coverage, Nelson admitted that the policy does not cover every scenario. More extreme situations, such as ash clouds, widespread physical destruction, or government-mandated border closures, remain excluded.

“We can’t offer cover for everything, but we have tried hard to offer cover for as many situations [as] possible with this new cancellation cover variation,” he said.

Cover-More’s Cancellation Plus Cover is available now through travel agents across Australia.

Cover-More Travel Insurance is a travel insurance provider headquartered in Sydney. As part of the global Cover-More Group and Zurich Insurance Group, Cover-More offers a range of travel insurance products and services across 15 countries.

What are your thoughts about this latest offering? Let us know in the comments below.

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