Covered after 14 day wait if purchased within 15 days of trip deposit
Financial Default can reimburse a traveler’s trip costs if they need to cancel because of a complete suspension of operations by their travel supplier due to financial circumstances, whether or not bankruptcy is filed.
The Company will reimburse for the Forfeited, pre-paid Trip Costs up to the Maximum Limit shown in the Schedule if the Insured’s Trip is cancelled prior to the scheduled Departure Date and time for an Unforeseen Covered Event listed below.
The Company will reimburse up to the Maximum Limit shown in the Schedule if the Insured’s Trip is interrupted after the scheduled Departure Date and time for an Unforeseen Covered Event listed below.
UNFORESEEN COVERED EVENTS:
l) The Financial Default of a Travel Supplier, provided all of the following conditions are met:
1) This policy is purchased within the Early Purchase Window; and
2) The default occurs more than 14 days following the Policy Effective Date.
The Company will reimburse for the Forfeited, pre-paid Trip Costs up to the Maximum Limit for Financial Default shown in the Schedule. If the Insured books with a comparable Travel Supplier, the Company will pay for the additional expenses to book with the new Travel Supplier.
The Company will not cover Losses resulting from a Financial Default of any person, organization, agency, Travel Supplier, or firm that directly procured travel arrangements for the Insured.
Early Purchase Window: Within 15 days of Initial Trip Payment