What is the free look period mentioned in my policy?
A free look period, also referred to as the Money Back Guarantee window, is the period of time after purchasing travel insurance during which you can cancel your policy for any reason without penalty.
If you choose to terminate your travel insurance policy during the free look period, you will receive a full refund of your premium paid minus any applicable administrative fees.
The free look period provides policyholders with an opportunity to review their coverage and cancel if they are not satisfied with the policy terms of their insurance contract.
Do All Travel Insurance Policies Have a Free Look Period?
Most travel insurance companies are required, as part of state law, to include a free look provision within each of their plans. This consumer protection is enforced by the Department of Insurance across the majority of U.S. states.
A free look period requirement is not exclusive to travel insurance, and can be found in other types of insurance products including home, auto, and life policies.
Once you cancel your travel insurance, you may choose to purchase a new policy or travel with additional protection.
How Long is a Free Look Period?
The length of a free look period can vary depending on your insurance provider, plan, and state of residence. With that said, the majority of travel insurance policies will have free look periods that range within 10-15 days, or until the policyholder’s scheduled departure date.
The length of a free look period for a specific plan can be found within the policy details, on the provider’s website, or on the Certificate of Insurance. If you have trouble finding this information, you should contact your insurance company directly.
When Does a Free Look Period Begin?
A free look period goes into effect the day that you purchased your travel insurance and have received your policy documents. From that date, you will have at least 10 days to review, modify, or cancel your plan.
Once you purchase your policy, we recommend creating an alert or calendar event for the day before your free look period expires. This will remind you to revisit your policy and make sure you’re completely satisfied with the coverage you chose before it’s too late.
Covered Cancellation Reasons During Free Look Period
During a free look period, you can cancel your travel insurance coverage for any reason and receive a full refund of your premium payment. Reasons why you may want to cancel your insurance may include finding a cheaper policy, discovering better coverage, or realizing you have existing travel protection through a credit card.
With that said, you are no longer covered by a free look period once you depart for your trip, even if your departure date falls within the free look time-frame.
Cancellations can typically be processed online or over the phone. Refunds may take anywhere from 7-10 business days to process from the time your cancellation is confirmed, and are usually issued to your original form of payment.
Cancelling a Policy Outside the Free Look Period
You can cancel travel insurance at any time, even if your free look period has expired. With that said, cancelling within your free look period is the only way to guarantee a refund from your insurance company.
If you wish to cancel your policy outside your free look period, we recommend calling your insurance provider directly to explain the situation. While they may not be legally obligated to refund your premium payment, they may be willing to provide partial refunds or make special accommodations on a case-by-case basis.
This information can vary based on the travel insurance policy. Please review the policy certificate to verify coverage. If you have questions about a specific policy, please contact us directly at 800-240-0369. Our customer service representatives are available from 8am to 10pm ET seven days a week and are delighted to help!
- Author: Steven Benna
- Title: Lead Data Analyst