April Travel Protection has introduced a new travel insurance plan that covers trip cancellation only, April Trip Cancellation, a benefit the insurer believes is unique.
Travelers can purchase additional add-ons for trip interruption or cancel-for-any-reason coverage.
The trip cancellation plan covers 100% of costs for the following situations, according to April: severe weather, natural disasters, injury, sickness, death, job loss or relocation, military duty, terrorism, strikes stolen passport or visa and more.
The premium depends on a number of factors, including traveler age and trip cost. April said the base premium is $2 for travelers under 30 based on a $250 trip; at the other end of the spectrum, a 70-year-old traveler could purchase the policy for a $2,000 trip at a cost of $115.
Jason Schreier, April CEO, said in a statement the policy could be useful to agents whose clients are reluctant to insurance.
"It is hard for agents to avoid the perception that they are upselling when the policy requires the client to pay for coverage that is not applicable to their specific situation as is the case with many comprehensive policies," Schreier said. "This plan is a useful tool for agents who encounter resistance attempting to protect client investments."