You did your research and decided that buying travel insurance plan made sense for your upcoming trip. So you purchased your policy, feeling confident and assured that if something went awry — and met the conditions outlined in your policy — you could have reliable recourse for your troubles, potentially in the form of assistance, reimbursements on non-reimbursable, pre-paid costs, and other benefits.
Feels good, right?
But then something happened. Perhaps you found you purchased the wrong policy. Or you’re simply not satisfied with the policy you purchased. Whatever the circumstances, you find yourself seeking answers to one burning question: “Can I cancel travel insurance?”
Don’t worry, we have answers.
In a simple word, yes. Yes you can cancel travel insurance. But you can’t simply cancel travel insurance whenever it’s convenient; you’ll need to cancel your policy within a period of time called a Review Period. This window of time begins at the moment of your purchase and ends at a time determined by your travel insurance provider.1
For example, with Allianz Global Assistance, the review period is 10 days for most states. If you’re not completely satisfied, you have up to 10 days (or longer, depending on your state of residence) to request a refund, as long as you haven't departed for your trip or filed a claim. (Note: To determine the review period for your state, inquire with the Allianz Global Assistance team — we’ll tell you how to do so in a bit.)
The steps to take in order to request a refund for a travel insurance policy within the outlined Review Period may vary based on your provider. If you purchased a policy through Allianz Global Assistance, the fastest way to cancel travel insurance it to visit the online policy management tool. In order to access this tool, log into your account, or simply supply your email address or policy number.
There are a few reasons you may want to contact Allianz Global Assistance before going through the steps of canceling your policy online. For example, if you’re simply unsure if you purchased the right policy for you and your trip, our specialists can walk you through plan options to ensure you have the right plan with the right benefits for your trip. We encourage you to contact us with any questions, 24 hours a day, by calling us at 1-866-884-3556.
Perhaps after a little reflection, you want to upgrade your travel insurance policy to a plan with more coverage. Or maybe the dates of the trip for which you originally purchased the plan shifted a bit. As long as you have not yet departed on your trip or filed a claim, you may be able to change your policy be accessing the online policy management tool.
If you allow the Review Period to lapse, then you are no longer able to cancel your policy.
But this doesn’t mean that the travel insurance policy you purchased still can’t come in handy. For example, if you purchased your policy because your main concern was having the emergency medical benefits — but before the trip even began, you’re forced to cancel your trip for a reason covered in your policy — then you may be able to benefit from trip cancellation protection. This benefit can reimburse the prepaid, nonrefundable costs of your trip, such as airfare, cruise tickets, tour bookings and hotel reservations.3
While some circumstances are always out of your control, protecting your trip investment is not. Be sure to read your plan documents, especially the Certificate of Insurance/Policy. That way, you can travel confidently knowing you purchased the right plan to help you travel your way.