Cancelling airline tickets can be a frustrating and costly affair. Depending on the airline and ticket, you might end up losing all or a significant portion of your booking cost. Nonetheless, situations arise, and you might find it necessary to cancel your booking. Fortunately, there are ways to minimize or eliminate the financial impact of cancellations. In this article, we discuss five tips for cancelling airline tickets without losing money.
1. Be aware of the airline’s cancellation policy
Airlines have varying policies on cancellations, and it is essential to understand the rules before making a booking. Some airlines charge a cancellation fee that increases as the departure date nears. Others offer refunds on cancellations made within a specific period before departure. Additionally, some airlines allow for change-of-date and change-of-destination requests, while others do not permit any changes.
Knowing the airline’s policy helps you determine the best time to cancel your booking to minimize financial losses. Also, it helps to choose airlines with favorable policies for cancellations or changes.
2. Purchase travel insurance
Travel insurance is an essential consideration when booking flights, especially for trips involving considerable expenses. Travel insurance covers a range of unforeseen incidents such as flight cancellations, trip interruptions, medical emergencies, and lost baggage. Cancel-for-any-reason (CFAR) travel insurance is particularly useful when it comes to airline ticket cancellations, as it provides coverage even when the cancellation reason is not covered by the airline’s policy. However, CFAR insurance typically comes at a higher cost than standard travel insurance.
It is worth noting that travel insurance policies have varying levels of coverage, so be sure to understand the policy’s details before purchasing.
3. Utilize airline ticket cancellation policies
Some airlines have policies that allow for free cancellations or changes within a specific window after booking. For instance, Delta allows passengers to cancel a flight booking for a full refund within 24 hours of booking or up to midnight the day after booking, whichever comes first.
Additionally, some airlines allow for free cancellation or changes when the airline makes schedule changes or cancels flights. Therefore, it is crucial to check the airline’s policy for such instances and utilize them when necessary.
4. Sell your airline ticket
When all else fails, selling your airline ticket might be a viable option. You can either sell the ticket to a friend or family member or use online ticket marketplaces such as StubHub or Ticketmaster Resale. Ticket marketplaces allow you to sell your unused ticket to potential buyers, and you might be able to recoup some or all of your ticket cost.
However, ensure you follow the airline’s rules for transferring tickets to prevent complications or potential penalties.
5. Use a credit card that offers cancellation protection
Some credit cards offer cancellation protection as part of their benefits. For instance, the American Express Platinum Card provides up to $10,000 per trip in cancellation protection for covered reasons such as illness, injury, or severe weather. Additionally, some credit cards have built-in travel insurance that provides coverage for cancellations or trip interruptions.
Before booking a flight, check your credit card’s benefits to see if it includes any such coverage.
In conclusion, cancelling airline tickets can be a tricky and frustrating process, but there are ways to minimize or avoid financial losses. Understanding the airline’s cancellation policy, purchasing travel insurance, utilizing airline ticket cancellation policies, selling your airline ticket, and using a credit card that offers cancellation protection are some tips to consider. Ultimately, being informed and strategic can prevent the disappointment and frustration of losing money due to cancelled flights.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)