Is It Worth Buying A Refundable Airline Ticket - 2020 Review
Is It Worth Buying A Refundable Airline Ticket? - Video
Airlines typically charge 4x the price for a Refundable Ticket versus a Non-Refundable. Sometimes this price difference can be as high as 10x.
Use travel insurance with a strong cancellation benefit - ideally including 'Cancel for Work Reasons' and 'Cancel for Any Reason' - and check out the cost savings. A $400 Non-Refundable flight with $40 of trip insurance has similar protections to a $1,600 Refundable flight.
How does this work?
Well, the airline would prefer that you buy a very expensive refundable ticket. These are typically three or four times as expensive as a non-refundable. So, why do people buy Refundable? Well, they want the flexibility of cancellation and refund.
Our advice - stop paying the airline extra money so as to receive a refund upon cancellation.
Just pay for some simple 'Cancel for Any Reason' insurance, and gain all the benefits of this robust cover.
100% refund for regular cancellation reasons; 75% for Cancel for Any Reason.
Some restrictions apply, of course, so read the fine print.
Certainly, if a traveler needs to cancel he or she should typically do so two days before the intended travel date.
But, this is a great way to use travel insurance to help reduce costs instead of watching them increase.