Thousands of Australians see the value of Cover-More’s Cancel-For-Any-Reason insurance cover

Thousands of Australians see the value of Cover-More’s Cancel-For-Any-Reason insurance cover | Insurance Business

Thousands of Australians see the value of Cover-More’s Cancel-For-Any-Reason insurance cover

Travel insurance specialist Cover-More has announced that more than 57,000 Australians have travelled with the protection of its Cancel-For-Any-Reason (CFAR) insurance cover since the add-on’s launch more than 12 months ago. 

Read more: Cover-More enhances travel insurance offering

“Our customers have claimed on their CFAR cover due to relationship breakdown, their visa being denied, not having the correct passport, changing jobs, or having their leave revoked by their employer, among many other reasons that wouldn’t be covered by a typical policy,” said Mike Stein, Cover-More’s executive general manager of sales and distribution. “A number of our customers who have claimed on their CFAR haven’t told us the reason, which reflects the flexibility and comprehensive protection CFAR gives travellers. We want our customers to know that it doesn’t matter why they need to cancel their holiday, CFAR is there to protect them if they need to change their travel plans.”

CFAR is available to Australian travellers who book their travel with one of Cover-More’s partnered retail networks, including Flight Centre, helloworld, Express Travel Group, and independent travel agents.

“We are getting feedback from our agency partners that travellers see the value in adding CFAR and many of our other optional add-ons, depending on their travel plans, when they book their travel with a travel agent,” Stein said. “Being able to access CFAR only through a travel agent reflects the important role they play in helping more Australians to travel.”

In 2018, 34% of the claims Cover-More paid were due to amendment or cancellation, 25% were for overseas medical or dental, 20% were for lost or stolen luggage, 14% were for travel delay, 3% for rental car damage and 2% were for delayed luggage.