Travel insurance plans that offer Cancel for Any Reason (CFAR) for NY residents?
May 27, 2020, 10:33 am
#1
Original Poster
Join Date: Jan 2018
Posts: 98
Travel insurance plans that offer Cancel for Any Reason (CFAR) for NY residents?
Until recently, New York didn't allow travel insurance carriers to offer its residents Cancel for Any Reasons (CFAR) coverage, which is typically available as an upgrade on plans. So, for example, California residents could purchase a travel insurance policy and select the CFAR upgrade option, but this option would not be available for New York residents.
However, New York recently did an about-face on its position, as described in this article...
https://www.reuters.com/article/us-n...-idUSKBN20T2ZD
I'm wondering if anyone is aware of any travel insurance carriers that have already updated their plans to make CFAR available in New York? I know the process for carriers updating their policies can sometimes be slow.
However, New York recently did an about-face on its position, as described in this article...
https://www.reuters.com/article/us-n...-idUSKBN20T2ZD
I'm wondering if anyone is aware of any travel insurance carriers that have already updated their plans to make CFAR available in New York? I know the process for carriers updating their policies can sometimes be slow.
May 27, 2020, 11:05 am
#2
Join Date: Sep 2013
Posts: 2,188
Buyers must purchase the coverage, which is 40% to 60% more expensive than standard travel insurance, typically within several weeks of the initial trip payment and cancel the trip within two to three days of departure, the regulator said.
Last edited by mmff; May 27, 2020 at 11:12 am Reason: Edited wording for clarity.
May 27, 2020, 2:34 pm
#3
Original Poster
Join Date: Jan 2018
Posts: 98
You could go to the website of insurers who offer CFAR and price out policies with and without CFAR, if you're curious.
May 27, 2020, 6:12 pm
#4
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,416
Moving to the Travel Products forum, where discussion about travel insurance is hosted. Thanks. 
/JY1024, TravelBuzz moderator
/JY1024, TravelBuzz moderator
Jun 7, 2020, 8:47 am
#5
Suspended
Join Date: Jun 2019
Location: Paris & Scotland (Laird), "Suite on the World"
Programs: Hertz platinum, Bonvoy titanium , Delta flying colonel/platinum/MM, retired old men board member
Posts: 592
Until recently, New York didn't allow travel insurance carriers to offer its residents Cancel for Any Reasons (CFAR) coverage, which is typically available as an upgrade on plans. So, for example, California residents could purchase a travel insurance policy and select the CFAR upgrade option, but this option would not be available for New York residents.
However, New York recently did an about-face on its position, as described in this article...
https://www.reuters.com/article/us-n...-idUSKBN20T2ZD
I'm wondering if anyone is aware of any travel insurance carriers that have already updated their plans to make CFAR available in New York? I know the process for carriers updating their policies can sometimes be slow.
However, New York recently did an about-face on its position, as described in this article...
https://www.reuters.com/article/us-n...-idUSKBN20T2ZD
I'm wondering if anyone is aware of any travel insurance carriers that have already updated their plans to make CFAR available in New York? I know the process for carriers updating their policies can sometimes be slow.
Jun 9, 2020, 7:40 am
#6
Join Date: Mar 2008
Posts: 1,535
There are none. Contrary to what the Governor said.
I checked every single one of the companies listed, and none of them offer a CFAR to NY residents.
I've checked all the mainstream aggregators (insuremytrip, squaremouth, etc.) The minute you put NY state and check the box for CFAR, you get zero results.
For OTHER states (Indiana, for example--I compared for a friend) the CFAR was about 40-50% more ($150 vs. $100). I know everyone complains about the price difference, but after losing thousands on a cancelled trip to the Maldives, I would happily pay 40% more and not be out over $6,000.
I checked every single one of the companies listed, and none of them offer a CFAR to NY residents.
I've checked all the mainstream aggregators (insuremytrip, squaremouth, etc.) The minute you put NY state and check the box for CFAR, you get zero results.
For OTHER states (Indiana, for example--I compared for a friend) the CFAR was about 40-50% more ($150 vs. $100). I know everyone complains about the price difference, but after losing thousands on a cancelled trip to the Maldives, I would happily pay 40% more and not be out over $6,000.
Jun 9, 2020, 9:41 am
#8
Original Poster
Join Date: Jan 2018
Posts: 98
My understanding is that, up until recently, New York has prohibited carriers from offering CFAR to the state's residents because the state's insurance commission thought it was a rip-off for consumers.
The state changed its tune recently, in light of the pandemic, but I guess it takes time for carriers to rewrite their policies and get them approved.
The state changed its tune recently, in light of the pandemic, but I guess it takes time for carriers to rewrite their policies and get them approved.
Jun 9, 2020, 12:46 pm
#9
Suspended
Join Date: Jun 2019
Location: Paris & Scotland (Laird), "Suite on the World"
Programs: Hertz platinum, Bonvoy titanium , Delta flying colonel/platinum/MM, retired old men board member
Posts: 592
My D lives ih CA and she was told no carrier is offering it now they could have meant reasonalbly priced)
Jun 9, 2020, 1:07 pm
#10
Join Date: Mar 2008
Posts: 1,535
Our lovely state government that "helps" consumers by issuing these opinions/rulings (see item 6).
https://www.dfs.ny.gov/insurance/ogco2010/rg100206.htm
An OT example was years ago, I ordered an HP laptop. With extended warranty. Order was cancelled by HP stating that they could not offer the extended warranty in NY. They sent me the Dept. of Tax & Finance "opinion" memorandum that deemed an extended warranty as a "form of insurance" and thus, HP was not licensed by NY to sell insurance, thus, no warranty. Now, mind you I worked for the State at the time at another Agency. Further, we purchased many HP servers, etc. WITH EXTENDED WARRANTY that were listed on the OGS contract. So the state was "protecting consumers" by regulating insurance so that individuals couldn't buy extended warranties for their computers, but the State Government somehow was magically able to purchase that for themselves.
https://www.dfs.ny.gov/insurance/ogco2010/rg100206.htm
An OT example was years ago, I ordered an HP laptop. With extended warranty. Order was cancelled by HP stating that they could not offer the extended warranty in NY. They sent me the Dept. of Tax & Finance "opinion" memorandum that deemed an extended warranty as a "form of insurance" and thus, HP was not licensed by NY to sell insurance, thus, no warranty. Now, mind you I worked for the State at the time at another Agency. Further, we purchased many HP servers, etc. WITH EXTENDED WARRANTY that were listed on the OGS contract. So the state was "protecting consumers" by regulating insurance so that individuals couldn't buy extended warranties for their computers, but the State Government somehow was magically able to purchase that for themselves.
